Is Franklin Park up next for gentrification?

Question

For better or worse, I've noticed homes in Franklin Park being flipped pretty consistently. As far as location, it's is a prime spot for accessing central Austin and the airport. Curious to hear BP Austin community's thoughts on this neighborhood that historically has been pretty rough.

Currently trying to buy my first property and this is an area within my price range.

Stephen Stokes · Answer

This is an opportunity zone area. There are tax benefits to investing specifically in these designated areas.

https://www.austintexas.gov/de...

Here is a link to the map of these zones:

http://arcg.is/1LvGv00

Aaron Gordy · Answer

Franklin park has been on the radar for investors even prior to tesla. Post tesla, franklin park is so hot that its on fire. Even still, I wouldn't buy just anything in the area. There are many potential potholes for not so good results. Gotta be careful.

As a side note, there are folks that have the 44 tattoos that probably won't be able to live there much longer.

Matt Stricklen · Answer

Close is relative though. Nearly any point in Del Valle, Austin's Colony, Hornsby Bend is going to be closer, with similar choices, and a less traffic-ey route to ABIA. 78744 is not the first place TESLA associated buyers are going to look.

all this to say... maybe that leaves some meat on the bone for those of us who like '44.

Matt Stricklen · Answer

There have been several nice duplex flips over there from the obnoxiously big dog on the porch. But they have one on E Stassney now that they phoned in and ambitiously priced. It's about to hit 70 days on market.

Dan Burstain · Answer

It is a hot area.  There has been one home close under list over there in the last 3 months.  Many homes going way above list and there is just one active and it is in multiple offers asking for cash only offers.

Aaron Hanson · Answer

Also will be very close to the Gigafactory.

Is Franklin Park up next for gentrification?

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