how to evaluate a specific area

3 Replies

Other than zip skinny, are there any other suggestions of how to evaluate a particular area of any given town?  I am looking at Dallas in particular (and all surrounding areas).  Since I am not familiar with the different neighborhoods, I am trying to get more info as to whether an area is in demand by tenants or undesirable because of criminal activity or in a run down part of town.  Any ideas and comments will be appreciated!

Anita,

In the DFW area, school district rankings serve as an extremely accurate gauge of neighborhood quality.  With that said, nothing beats local knowledge.  I've been in the Dallas/Ft Worth Metroplex most of my life and have lived all over it.  I'll be happy to help any way I can, if you have specific questions.

Hattie

1. home prices

2. school districts

3. major local employers in submarket or nearby

4. population growth or decline?

5. job growth or decline

Depending on what your goals are, north dallas is considered better than south, east or west. 

There are a growing number of public databases on crime statistics. Google for "GIS Crime Statistics in (your city here)" and you might find useful data. One national site is:

https://www.raidsonline.com

After looking at my town, I can see the majority of the crime grouping is happening exactly where I would expect it to here.

If you are looking at multifamily, however, you can get the best info from contacting both multifamily brokers and property management companies. They can help you plot out neighborhood by neighborhood where you will want to be and not be, based on your specific risk tolerances.

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