Old East Dallas for Vacation Rental Worth Investing

9 Replies | Dallas, Texas

Hi,

Looking to buy a multi-family property in Old East Dallas. Goal is to do Vacation Rental. I have done the numbers and they seem positive. Some questions

1. How is the area in general in terms of crime. I checked the crime rate https://www.areavibes.com/dallas-tx/northeast+dall... Overall the crime rate seems lower than Dallas but is higher than national average. Statistics however are just statistics so want to hear from people who are aware of the area. How is the area in general. Is it safe to do vacation rental like AirBnB there?

2. Anyone who has done vacation rental in Old East Dallas, can you provide some details on what challenges you faced trying to setup a Vacation Rental property in Old East Dallas

I love Old East Dallas! I used to live in Munger Place, just moved from there a year ago and now I’m in the Dallas suburbs (primarily because of school for my kids). I always felt safe there. Several of my close friends still live there and they have never had any crime issues. When I lived there I considered buying a four plex close by just for the purpose of doing short term Corp rentals for traveling doctors or nurses as Baylor hospital is very close. Then if I had vacancy, open it up to Airbnb as it’s also close to downtown Dallas, Greenville Ave, lots of nightlife. My plans changed and I didn’t get to buy the four plex, but anyway I think it’s a great idea and I miss my old house there! Good luck! 

My first thought when I saw your post is if there is demand for vacation rentals in Old East Dallas?  

I don't know anything about that business, but seems like an unusual place to start that business.

Munger Place and where he’s looking into are two different places!  

Don’t care for Munger place....part of it is in ok area as close to great historic and higher end homes.  The other part is in super crime ridden area.  

What he’s asking about....I need more information.  Is it close to 12 and Skillman or Abrahams Road?   

Big difference between both! 

 I did live and go to school in the area for a couple years back in 2011-13. Then worked close to the are. There are pockets of vary different properties and neighborhoods, you walk one or two blocks and go from older b or c apartments to very nice large historic homes with well manicured lawns. My gut feeling was that crime might be a little bit higher then other parts of Dallas, but in the right pockets it seemed perfectly safe, although There were certainly parts I would definitely not go at night. There was a drug related crime and petty theft  in the complex I lived in, 1 bd 1 bath my wife and I rented for 795. So definitely do your homework and get some input from people currently involved there. It seemed like  lots of small older complexes were being renovated and those had a cool hip vibe. 

Originally posted by @Gaurav Mehta :

@Nina Hayden : The place is very close to San Jacinto and N Carroll Ave. 

 Its still tough to tell.  Large portions of that area are in solid growth mode, but it doesn't take much to get to some sketchy areas.  Although I think you are in a fairly decent area.  But that area is block to block.

In general its been an area we have looked to invest.  I think there would be some solid traffic for an Air B&B.  But can you make the numbers work?

Hi @Scott Schober , do you mind if I PM you to get more info about your AirBnB property? Would love to learn more. I'm considering to buy a property at Bennett Ave and Mission Ave, but I'm a little hesitant on how much occupancy we'll get in a year. Thanks!