Thought I'd start a small thread to see what $250,000 would get in different parts of the country. . .
This should be an interesting one! :groovy:
Nice idea - I'll make this one Sticky for a while.....
I'll kick it off:
In Los Angeles - you can get a studio condo - 450 square feet or so (Westside, & better parts of the city).
2500 or so square feet on the golf course, a bit more off the golf course. About 1800 square feet on the lake!
Of course it also gets you $6500 a year in property taxes!
Midtown Houston you could get a 2 bed 2.5 bath 2020 sqft Townhome TILE IN THE ENTRY, KITCHEN, AND BREAKFAST AREAS, HARDWOODS IN LIVING & DINING ROOMS, CUSTOM BUILT-INS THROUGOUT. LOFT OFF MASTER BEDROOM WITH SURROUND SOUND AND BUILT-IN ENTERTAINMENT CENTER. CORIAN COUNTERTOPS, DESIGNER PAINT. EVERYONE WANTS A MIDTOWN LOCATION.
In Manhattan - nothing as far as I know.
Amazing as it sounds. Joshes answer above mirrors mine here in West Central Florida.
[i]2500 or so square feet on the golf course, a bit more off the golf course. About 1800 square feet on the lake!
Of course it also gets you $6500 a year in property taxes! [/i]
A nice parking spot in San Diego, CA
In Traverse City Michigan, it will buy about six mobile homes on lots, with about $3,000 gross rent each month.
I know nobody likes mobiles, but that's why they go cheap and provide such good cash flow.
In Katy, TX, $250k would get you a brand new 3500 to 4000 sq. foot house in a brand new development. Property taxes will run you roughly $6k per year. And you will have a nice little drive to work if you work in Houston. but many people think it's totally worth it.
Here in Orange County, CA, it takes $650,000 to buy a 1958 "old looking" 3 BR 2 BA house in a junky neighborhood.
I own a mortgage company, and people DO NOT make the income it would take to buy this average piece of crap! The prices of real estate are ridiculous out here!
here in Tampa it gets you a fairly decently rehabbed 1920's bunglaow, in a desirable historic neighborhood,3/2 1400 sq ft woodfloors and about 5800 sq ft lot. And nice friendly neighbors.Tampa is sweet!
(In MiAMI we sold about the same more or less for about twice that four blocks from Biscayne bay. )
In dc a condo, in maryland a townhouse, or a single family but it will be old.
In Houston it really depends on where. This city is spread out quite a bit but, from $225 to $250 you can buy new sfr 4-5 bedrooms 3200 to 4000 sq. ft on a 8400 to 12,800 sq. ft lot with great seller concessions. To view go to the general har website har.com and search for the following mls#s 137804,4717323,9858919,6553453
Depends. You can get a garage aprtment in the heart of Orlando historic district or a small bungalow 600sq ft.
You could move to the surrounding country areas and get 1 acre with a 2000 sq ft house. But then you have an hpour and a half drive one way to work, if you work downtown.
In between you can get a cookie cutter house in one of the new suburb developments at about 1500 sq ft and no yard, plenty of neighbors
On HBTV they have a program (I think on Sunday night) that addresses this very question and does national comparisons.
250K here in St.Louis would get you a 90 day pop up house. As far as villas and condos you can get a nice one for 250k.
Here in the metro phoenix area, you can typically get a 1600-2200 sq ft home sometimes with a private pool and/or on a golf course. I'm currently buying a 2700 sq ft two story house on a 7500 sq ft lot, lots of upgrades for 310k. I like the market here. Appreciation rates are out of control!!! Can't wait for the CA market to fall out!!!!
California market crashes = Coastal property investment heaven!!!
This is straight off the MLS (I posted a response to this thread before, but it got deleted on one of the site wipes). You can find a lot of cheap properties in my area! Note that I really limited my search to only find properties that were between $240,000 and $250,000.
Industrial / Commercial: 26 total. List includes gas stations, office buildings, a couple of factories, and some stores.
Residential: 151 total. Too many to go through, but from what little I saw you can get 3/2 in the nicest area within the city, or you can get a huge house in the suburbs.
Multi-Family (my specialty): 7 total. You can get one huge duplex in a nice neighborhood, you can get 12 units in a rough neighborhood, 4 houses on 3.5 acres in a decent neighborhood, or an 8-unit building in a nice neighborhood. (Nice meaning the neighborhood itself, not necessarily good renter areas, know what I mean?)
Farms: 5 total. A couple of horse farms and a couple of farms with tillable land (approx. 20-40 acres)
Raw Land: 12 total. Varying amounts of acreage, various zoning, various traffic counts. The best deal so far as I can tell is for 20.5 acres on the northern side of downtown Dayton. This is riverfront property near a ton of apartments. You could probably do well by developing the land for <idea not inserted just in case someone wants to hire this birddog :) >
I didn't see anyone representing Seattle so I'll do the honors :) I can offer that the market appears to be slowing out here. it seems like we were one of the last cities to see the boom, and one of the first to cool off, i'm greatful for that, although our prices still seem inflated. houses are sitting on the market for longer than they used to out here.
$250 in Seattle = only one house listed! 2 bedroom, .75 bath, waterfront... IT"S A HOUSE BOAT LOL....
Waterfront living. Stunning Mike Kelley 1991 built houseboat. Exquisite craftsmanship, use of woods and spaces all in a nautical theme. Feels like a cozy cottage on the water. $60,000 of recent upgrades and remodeling; including radiant floor heating. Open floorplan yet very private. Great slip location offers expansive views. Rare opportunity to live on the water at this price. Ultimate Seattle living. Moorage fees are approx. $340 plus $75 live aboard fee.
In Enumclaw, where i live, you could get a nice 2-3bdrm, 1-2bath, with small lot and probably less than 1600 sq feet. there is NO FARMS available for under $350 with only 3-5 acres.
I found 8.8 acrs for $160k, but it's all wetland, can't get approval to build on it.
Here is Sac town, 250K is begginer money. Tons of condos in all different areas, Hand full of Single Family, ranging from nicer homes in the ghetto, to small junk homes ( which get bought up) in the nicer areas. Couple in down town 1000sqft homes. 300K is the target for buying a nicer home.
I will represent Pensacola Florida for this topic.
With 250K here in Pensacola and surrounding you can purchase vacant land, commercial property and commercial lots, single family residential pre-construction (great investment here--new subdivisions coming online in October), townhomes. The appreciation here is unbelievable!!! Navarre FL was like this a year ago--need at least 275K there now.
In the City of San Francisco, ABSOLUTELY NOTHING.
Originally posted by "dkdk100":
In the City of San Francisco, ABSOLUTELY NOTHING.
Not even a singlewide trailer? Pretty outrageous, huh?
In the Minneapolis/ St. Paul area you would be looking at a home that would consist of: 2-3 bedrooms, 1-2 baths, unfinished basement, and a single garage. The age of the home would be 50-60 years old.
In Houston: a nice loft or condo downtown encompassing hardwood 10ft ceiling or so 1000+ sqft......, taxes would run about 2.96-3.03%....and if you homestead chop a good 30% off those numbers, add some building fees per anum.....could be anything....
-also from a previous post, a pretty nice townhouse or patiohome, no more than 2500sqt.....unless its a prerryhome(=-x) low-qual......
Usually 3 floors, absolutley zero-lotline & yard space....
But some of them have Roof-Top Decks, a pretty damn good pieace of living if I must say so.....
In Birmingham, Alabama: eh, pretty robust metropolitan city.....they are currently building lofts and condos downtown, from $130k+...bring some good demand in the area.....
In the nice suburban areas, houses range from $250,000-million+.....so...I would say 250k would probably get you somewhere around mid 2000's to 3000 sqft. of good midrange quality materials to some highends.
The advantage is that lots are usually huge, with good robust acerages chilling in the .3-.7 area.
also...the taxes are generally low as hell...
Thier tax system calculated by bulk of mills is somewhat inconsistent sometimes, jumping up and down in different areas....but usually ive seen taxes really low. In the very nice subdivision outside of greystone, a highend gated community, i saw a current apprasial about a week ago with market value of a nice 2100sqft garden home @$193,000....paying taxes around $1,000....not calculating deductions.....not bad...
some its even lower....areas which don't even pay municipal tax.....
cut an extra %30 off the property tax bracket....
That about sums it up as far as my eyes can see...yeah
saginaw michigan 250k will buy you about 20 house that are rented and producing income sec8 income at that then you could refi these and cash out 500k and buy 40 more it is just a good market for rentals in this city
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