What will $250k buy in Your City??

General Real Estate Investing

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What will $250k buy in Your City??

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Member since 2008 · 100 posts · 6 votes

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:

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Member since 2008 · 53 posts · 2 votes

20y

In Clintwood Virginia? I would think without stats to back me, the Sherrifs department, mayor, town council and a few judges. You can also get around 2.5 one acre lots for that amount with no houses on them. In 5 years from now you can get 2.5 1/4 acre lots and no houses. Right now however you can get over a 1/4 down stroke on the 5 million dollar Mansion I have tried to tell about in some other threads and owner finanancing for the balance at 4% as as a bonus I am sure we would toss in the Rolls Royce as well and return it to its original resting spot.

That would also secure you a 1/8 interest in a commercial level hat concern that competes with the worlds largest hatters without overhead.

That would get you about a 1000 acres of "mountain property" and a lot of peace of mind.

I am beginning to think I have STUPID written accross my forehead but then I realize I am looking at others and not in the mirrow at all when I see them tossing that kind of coin at ratty little properties in smog filled cities when they can have pristine mountain fresh air and hundreds of acres for the same investments.

Has the world went this crazy or has it already gone there and I just missed it. I know I know I have family just moved from Orange County to Palm Desert and Riverside and its really gone crazy.

Now my question is why would anyone want to live like that for free must less pay a fortune for that torture. Masochist comes to mind about now.

When you put on your thinking caps try to think Gladhatter and give us a call.

Charlie

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Christine Hancock
Residential Real Estate Broker · Chicago · Member since 2008 · 5 posts · 0 votes
20y
840 Sq. Ft. 1 bedroom, a parking spot would be additional $30,000. Most people do buy the parking.
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Member since 2008 · 143 posts · 1 vote
20y
In my town $250k can get you something relatively nice if you look around. If you go the west one or two towns you can get a lot larger house for the same money. Going towards the east a town or two will get you much less. The west is more "country" and the east is more "uppity."

Here's what I came up with for $225-275k in my town:

Here's the entire local area:
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Member since 2008 · 5 posts · 0 votes
20y
250k in Las vegas surprisingly will get you a decent home. 250k will get you in the northwest a home 3 to 7 years old with 1400 to 1900 sq ft in a nice neighborhood. If you look down in the southeast/ Henderson section of Las Vegas 250k will not offer you many homes to choose from. You can get a very nice condo for that in Henderson, but not much inventory for homes in that price range other than in the Northwest section of Las Vegas.
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Bion Grady
Real Estate Agent · Atlanta, GA · Member since 2008 · 20 posts · 0 votes
20y
In the Metro Atlanta, GA area $250K will get you a 3,4 or 5 Bedroom Home in a Nice area.

It could also get you a Nice Rehab Project in some of Atlanta's Historical Neighborhoods.
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Tyler Weaver
Investor · Cincinnati, OH · Member since 2008 · 319 posts · 243 votes
20y
In Cincinnati it could buy you a multi-family with 4 2 bedrooms or equivilant size. Then if you are looking for a house it will get you some old building that has been re-habed on a hill with a view of downtown..

Pretty cheap real estate markets in comparison...
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Derek Guyer
Member since 2008 · 249 posts · 6 votes
20y
In Indy, depending on whether you are looking for an investment or a home for yourself, you could buy quite a bit of home.

For $250k, you could buy 6 or 7 cash flowing duplexes that would generate you about $2500k/mo in net cash flow.

For $250k, you could get yourself a 3000-4000 sq ft home with 4 bd and 3bths and still have 10% equity if you take your time.

Because of the nearly 1000 new foreclosures a month, 1000 new bankruptcy's a month and our market currently being 19% under value, we are a hot spot and in a great buyers market.[/b]
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Member since 2008 · 2 posts · 0 votes
20y
Awesome topic, i live in fort lauderadle FL and 250 will get u a house in the hood or a 2/2 condo in an ok, not great neighboorhood.....ridiculous...and the avg person in fort alud can oly afford 180k....where are they living???
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Member since 2008 · 22 posts · 1 vote
20y
In metropolitan Detroit...

It will buy you a newer 1600-2000 SF SFH.
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Bryan Casteel
Real Estate Agent · Cincinnati, OH · Member since 2008 · 216 posts · 11 votes
20y
Just did a quick MLS search on active properties in Hamilton County Ohio (Cincinnati area) between $249,000 and $251,000. Here are a few examples:

1: 3BD 2.5BA in Wyoming, OH - Consistently one of top 3 schools in the state - sold AS IS - pics look good, outdated cosmetics

2: 5BD 3.5BA in College Hill - Area has some good spots and some bad spots, house looks to be in excellent shape from the pictures on the MLS

3: 3BD 2BA in Anderson - JUST RENOVATED, pics look awesome, good area
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Bryan Casteel
Real Estate Agent · Cincinnati, OH · Member since 2008 · 216 posts · 11 votes
20y
Looks like The Washington Post is asking the same question:

http://www.washingtonpost.com/wp-srv/realestate/features/2006/housingoutlook/how_much/how_much.html
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Member since 2008 · 9 posts · 1 vote
20y
In Portsmouth NH, $250,000 will get you a 50's 2 bedroom home, or a 2 bedroom condo. These are few and far between though.
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Member since 2008 · 41 posts · 1 vote
20y
In Provo UT (50 miles south of Salt Lake City), this home is listed at $249,900. Sorry there is no picture, but I put the link if you would like to see pictures of it.

http://utahcountylistings.utahrealestate.com/585116

This 2-Story Conventional style Single Family Home built in 1999 has 4 bedroom(s), 3.00 bath(s) and is approximately 1963 sq. ft. Rooms include: Flr 1 Family Room / Den, Flr 1 Bar Dining, Flr 1 Semi Formal Dining, Flr 1 Laundry. Other features include: Closet-Walk-In, Dishwasher, Disposal, Gas Log, Jetted Tub, Master Bath, Range Oven Free Std., Vaulted Ceilings.
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Member since 2008 · 7 posts · 0 votes
20y
In my town, Santa Cruz, ca, you can still get a mobile home for that. in some parks.
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Member since 2008 · 7 posts · 0 votes
20y
250k is about R1.5 mil in South Africa, for that you can buy a decent 4bdr/2bathrm/2garage house in a decent area.

Or if you buy stand of property in Oranjeville, small developing town next to a dam, this is where I invested...you'll get:

15*Prime stands of large 2000sqr. meters = 21 500 sqr. ft.

which had 400% growth on Purchase Price last year :groovy:

beat that!?!

Now thats why I :beer:
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Member since 2008 · 8 posts · 0 votes
20y
Originally posted by "dkdk100":
In the City of San Francisco, ABSOLUTELY NOTHING.

Well... it will buy you a 1 bed / 1 bath TIC in a building built before the big quake... circa 1902. And that's it. Nothing else under $251k but undevelopable land.

TIC, for those unaware, is Tennancy In Common, which is more or less a dangerous way to put multiple unrelated parties on one mortgage. So a large house that has been divided into four units, but has not officially been converted into legally recognized condos, can be sold to four parties.

Not recommended.

So $250k gets you a small slice of a house that others share. Pretty insane.

The only nearby trailer parks are either across bridges in the East Bay (Richmond, Oakland, etc) or south on the Peninsula in South San Francisco, Daly City, or Colma (San Francisco's cemetary). Those trailers usually have at least $700/mo space rental.

You just can't win anywhere near San Francisco. And renting an apartment around here isn't pretty either.
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Member since 2008 · 24 posts · 1 vote
20y
Northern Santa Barbara County, California.....The only thing you can get in this area are 2/1-2/2 mobile/modular homes in a senior park and 2/1- 1/1 lower end condos, typically. SF homes start at around 400K for a less-than-desirable house/neighborhood and go up from there...here are a few examples:

3BD/2BA in desirable senior park with pool & clubhouse. $189,000...

AGE RESTRICTED PARK New large Gracious 28x 60 Wellington Manor! $190K

3 Homes offered From $210K & $220K Craftsman Style Homes... (modular - in park)

2bd/2ba, den/office, living room w/skylight, kitchen has lots of cabinets w/sliding shelves, master w/ walk-in closet & garden..... $218,900

This Home Features: Spacious Living Room Entrance, Two Bedrooms, Two Bathrooms, Den/Office could be used as Third Bedroom, Master Bedroom has Large Walk-in Closet & Built-in Dresser, Master Bathroom w/ Garden Tub & Separate Shower Stall, Beautiful Stained Glass Windows in Master Bath & Kitchen, Large Living Room w/ Skylight, Sun Room could be used for Arts/Crafts/Workshop, Large Kitchen w/ lots of Cabinets, some w/ Sliding Shelves, Other Kitchen Features include Refrigerator, Range, Dishwasher, & Triple Sink, Separate Dining Room, Security Front Door & Windows, 2.5 Car Attached Garage...$218,900

Absolutely Gorgeous! 2 bed 2 bath, Gated Community, Large Club House, 9 hole golf course $219,000

LAS PALMAS CONDO! 1bd 1ba upstairs unit. Separate living & dining rm, brkfast bar. Nice deck w/ ldry/storage room, washer & dryer....$219,990

1bd 1ba, single-story condo w/upgraded tile flooring, Berber carpet, master bedroom w/large walk-in closet & oversized bathroom...$229,990

$239,500 2 Bedroom, 1.5 Bath Condo with new interior paint and new carpet. Patio with small fenced yard.

Your opportunity to own one of the most desirable condos in the development large 3 bedroom 2 bath with approx. 1300 sq. ft. of living area and the privacy of owning an end unit. BBQ in your private patio area or just relax and enjoy greenbelt area....$350,000

Huge 22.3 x 19.5 living room with brick fireplace and wooden mantle Great location for this 3 bedroom 2 bath home on raised foundation Over 1800 square feet of living space Large separate formal dining room Hardwood floors in two bedrooms and carpet in one bedroom.....$450,000
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Member since 2008 · 18 posts · 0 votes
20y
Albuquerque New Mexico....for 250K... you can have a nice 2000 sq ft home in the NE heights, or how about a all brick home 2000 sqft or in rio rancho something new/old on 1/2 acre lot......or 125 acres of trees sunset and coyotes.......
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Member since 2008 · 53 posts · 2 votes
20y
In Clintwood Virginia? I would think without stats to back me, the Sherrifs department, mayor, town council and a few judges. You can also get around 2.5 one acre lots for that amount with no houses on them. In 5 years from now you can get 2.5 1/4 acre lots and no houses. Right now however you can get over a 1/4 down stroke on the 5 million dollar Mansion I have tried to tell about in some other threads and owner finanancing for the balance at 4% as as a bonus I am sure we would toss in the Rolls Royce as well and return it to its original resting spot.

That would also secure you a 1/8 interest in a commercial level hat concern that competes with the worlds largest hatters without overhead.

That would get you about a 1000 acres of "mountain property" and a lot of peace of mind.

I am beginning to think I have STUPID written accross my forehead but then I realize I am looking at others and not in the mirrow at all when I see them tossing that kind of coin at ratty little properties in smog filled cities when they can have pristine mountain fresh air and hundreds of acres for the same investments.

Has the world went this crazy or has it already gone there and I just missed it. I know I know I have family just moved from Orange County to Palm Desert and Riverside and its really gone crazy.

Now my question is why would anyone want to live like that for free must less pay a fortune for that torture. Masochist comes to mind about now.

When you put on your thinking caps try to think Gladhatter and give us a call.

Charlie
2 Reply
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Member since 2008 · 36 posts · 0 votes
20y
In Roswell, GA, you'd get a starter home. The 1500 SF 3/2 single family on a postage stamp, or a low end condo.
0 Reply
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Residential Loan Officer · Member since 2008 · 11 posts · 0 votes
20y
In Pittsburgh, PA...

Depending on the location in and around the city, you can get a 4000 Sq. Ft. home with 4 bedrooms, 2 car, 3.5 baths and about 1/4 acre lot.

Taxes could be as low as 2500 and as high as 6000.

GREAT market for real estate bargains....
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Steve Wood
Real Estate Investor · Waynesboro, MS · Member since 2008 · 26 posts · 0 votes
20y
Well, with 250K I would purchase a 1.5 millon dollar NNN Lease commercial property (leverage my money) and let the income from the investment pay for my new home and car!
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Member since 2008 · 72 posts · 0 votes
20y
well nobody represented Chicago so I mind as well do the honors.

For under 250k you can get a small 500-700 sqft studio or convertible in dtown chicago. There are a bunch of new construction condos starting in mostly the 300s but there are also some that start in the 200s but not really midtown.

250k will also get you a 2-3 flat in the south side that probably needs work done on it.

200-250k can find you a nicer 2-3 flat west of chicago but it'll be a super rough neighborhood.

for 150k-250k you can easily find a condo along the lake as long as you aren't in downtown but either slightly north or south.
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Member since 2008 · 13 posts · 0 votes
20y
In San Diego? A 2 bed 2 bath condo in East County.
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Member since 2008 · 6 posts · 0 votes
20y
In the Phoenix 'burbs, either a pretty old house by AZ State or surrounding areas, or a very solid down payment on a brand new house in the outer suburbs.
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Member since 2008 · 1 post · 0 votes
20y
You can only get a small property for about $260,000 here in my local town in the UK.

Prices here are out of control which is making it very difficult for young families to buy their first home.
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