How to identify A,B,C,D and F areas in Hockessin and Wilmington

6 Replies

Hi,

I am trying to identify B,C,D and F type regions in Red clay school district area in Delaware. I am looking for regions around Wilmington and Hockessin . Can you guys let me know how to identify these regions easily?

Buyan

Originally posted by @Buyan Thyagarajan :

Hi,

I am trying to identify B,C,D and F type regions in Red clay school district area in Delaware. I am looking for regions around Wilmington and Hockessin . Can you guys let me know how to identify these regions easily?

Buyan

 My answer to this isn't going to be one that you'll like. 

Simple answer: It's not easy

More complicated answer: A and F areas you can find pretty quickly just by looking at sold prices. The highest prices are the A areas and the lowest prices are the F areas. In the middle...there's a lot more going on to influence values. You'll have to take a lot more advantage of the websites trulia (crime mapping), city-data.com for all sorts of census information. Then I also recommend City of Wilmington Policy Department website where they publish monthly crime statistics by police jurisdiction. Everyone is also going to define these things slightly differently. I invest in what I would call C areas of Wilmington. I'm fine with this...other people think I invest in the hood and would never touch where my properties are. So this whole business of trying to perfectly classify areas by A/B/C/D/F is really very subjective and I think misleading. The more important questions are really what sort of tenants do you want, what sort of rent ratio, what sort of opportunity for appreciation. At the heart of it that's what these A/B/C/D/F scales often try to mimic...some people add to that age and condition of property...but I don't think that applies in a place like Wilmington as much where you have tons of old houses everywhere...with sporadic newer builds...just because you have some new townhouses in the hood though doesn't automatically make it a better place to be or justify the higher property cost. 

@Buyan Thyagarajan

I think @James Masotti gave you a pretty good outline for evaluating this area.  Generally Hockessin is going to be A/B+ type properties and neighborhoods.  You also need to make sure you know your strategy and buying criteria as you are evaluating what neighborhoods you want to invest in.  Flipping or wholesaling properties in Hockessin for example can be very profitable, but it is pretty difficult to find a property that will cashflow here as well as somewhere in the city or a "b" or "c" class neighborhood.

If you are evaluating any properties specifically in the Hockessin/Pike Creek area and need some help shoot me a message.  I live and invest in the area.

Originally posted by @Matt Dixon :

@James Masotti what are some example blocks in Wilmington that you would consider C class?

I have a few properties in the area between W 23rd & N West to W 27th & N Madison that I consider this C class area...other areas I like in what I would call "C" class are the area between Hedgeville and Union Park Gardens. The areas of Little Italy and Hilltop that sit around 5th and 6th St. Parts of the downtown area off Market St where BPG is developing.