As many readers know, I’ve lived in my beloved Casa View for 13 years now. Having lived in East Dallas since I moved to this city, I’ve watched the transformation of this side of town from a front-row seat. Some of these changes have been welcome — specifically higher-quality tenants at local shopping centers and improving schools.
But the rub with gentrification is that while yes, it does increase the prosperity of a neighborhood to some degree, it irrevocably alters the demographics of a neighborhood. And as soon as the demographics start to change toward the more economically advantaged population, it attracts investment.
Now, real estate investment is a great way to build wealth — if you do it right.
Yes, investors are always going to have a place in the market, but the balance an investment property has to strike can be a moving target. You have to consider the affluence of your target market, their willingness to move to a more up-and-coming location, along with ensuring that your investment property is both a quality product and priced accordingly.
As I’ve written previously, there is no shortage of flipping happening over here in Casa View. And this little enclave of East Dallas has all the factors that make real estate investment attractive. So why are these two Casa View flips still on the market after 21 days?
Let’s take a look at both of them and let us know what you think in the comments.
10129 Lingo Lane
Trendy white paint with dark gray accents is typical of the flips seen in Casa View. In this particular flip, notice that the garage hasn’t been converted — a typical approach when expanding the square-footage of these post-war ranches, many of which were built with only one bathroom.
However, this cute house on Lingo Lane doesn’t have that problem. The home has a total of four bedrooms, two full bathrooms, an attached one-car garage, plus a detached two-car garage in the backyard. In all, the home has a large-for-this-neighborhood 1,812 square feet.
Taylor Enebo of Keller Williams Dallas Metro North has priced this property at $444,999 (a $12,000 price reduction). A home nearby recently sold for around $430,000, but that property had a lot of designer finishes and higher-end flooring.
2633 Materhorn Drive
Trendy light gray paint and cedar accents show well from the curb for this home on Materhorn, a connecting street that runs through Casa View. Here we see a low-slung roof and plenty of windows in the front, as well as an oversized car port. With some robust landscaping, this home could really be the gem of the neighborhood.
That said, the inside of this listing shows a lot better, but that’s because it’s staged. With the fireplace, natural light, and neutral furniture, I can better see the scale of these spaces and how the home might live. There are two living spaces, a beautiful kitchen that opens to the front room complete with bold blue painted cabinetry, and designer lighting. There are four bedrooms, two-and-a-half baths, and 1,870 square feet.
Joyce Anderson of Keller Williams Dallas Preston Road has listed this home for $449,900.
