rivierakid55 Posted September 29, 2007 Report Share Posted September 29, 2007 have a friend who contacted me about purchasing a property in stephenville. can anyone give me any insight as to the kind of town it is and whether or not the housing market is appreciating and how is the rental market there. my friend plans on this being strictly an income property so is more concerned with the rental market but obviously if it is a continually declining sales market may make him want to stay away. any insight is great. the property he is looking at is on elm street if that matters. 3BD/2BA about 1400 sq. ft. dont know lot size but according to a rental market "expert" he should be able to rent it for 6-750 per month. cost is about 60k. option 2 is a brand new house - 4BD/3BA 2200 sq ft. dont know which street...again this could should rent for 1200-1350 but costs about 95K. Quote Link to comment Share on other sites More sharing options...
SS Silv Posted September 29, 2007 Report Share Posted September 29, 2007 I believe Steve (mr.p) lives in Stephinville. I am sure he will chime in soon. Quote Link to comment Share on other sites More sharing options...
rivierakid55 Posted September 29, 2007 Author Report Share Posted September 29, 2007 i sort of thought he did. i know that there are so many texas guys here that someone should know something. Quote Link to comment Share on other sites More sharing options...
KJT13 Posted September 29, 2007 Report Share Posted September 29, 2007 That is in fact where Mr. P lives. With prices like that, I gotta move to Texas! Quote Link to comment Share on other sites More sharing options...
rivierakid55 Posted September 29, 2007 Author Report Share Posted September 29, 2007 That is in fact where Mr. P lives. With prices like that, I gotta move to Texas! 60k doesnt even buy you a single wide mobile home here in the silicon valley. my 40 year old house is about 2200 sq ft and somewhat of a fixer upper and its only worth about 1.1M. Quote Link to comment Share on other sites More sharing options...
Fireman31 Posted September 29, 2007 Report Share Posted September 29, 2007 That is in fact where Mr. P lives. With prices like that, I gotta move to Texas! yeah you can only get a 1 bedroom garden apartment here for 1300 a month, not a whole house! A 4 bedroom house like that would cost $550k+ up here, those prices are incredible. Quote Link to comment Share on other sites More sharing options...
tylerrustss76401 Posted September 29, 2007 Report Share Posted September 29, 2007 Im in sville, the market here is pretty reasonable. You can get a little rent house's around 1400-1600sq foot all day for good price's. Alot of them are rented out to college kids, but I have been noticeing the prices creeping up. But yea you can get a nice house for 100k, and average rent is 500-800 for 3bedroom 2bath. A know alot of people that buy houses down here, flip them and make 20-30k easy. As for sville nice clean town average college town. Quote Link to comment Share on other sites More sharing options...
SS Silv Posted September 30, 2007 Report Share Posted September 30, 2007 (edited) 60k doesnt even buy you a single wide mobile home here in the silicon valley. my 40 year old house is about 2200 sq ft and somewhat of a fixer upper and its only worth about 1.1M. Holy shit 1.1million? In 2005, my parents built a 6,700 sq ft house in North Dakota and it is worth right around 1.2m. Edited September 30, 2007 by SS Silv (see edit history) Quote Link to comment Share on other sites More sharing options...
rivierakid55 Posted September 30, 2007 Author Report Share Posted September 30, 2007 Holy shit 1.1million? In 2005, my parents built a 6,700 sq ft house in North Dakota and it is worth right around 1.2m. its all relevant. cost of living versus wages and such. so of all the hudreds of texas guys on this site i got one response in 3 days? Quote Link to comment Share on other sites More sharing options...
CenWaSS Posted September 30, 2007 Report Share Posted September 30, 2007 In my neck of the woods, home prices are rising quickly. We're usually on the tail end of the swing compared to the rest of the country. Nearly three years ago I purchased a brand new 3bedrm/2bath home (1150sq/ft) for 86k, sold it 2yrs later for 135k. Moved into my current home, brand new custom home with 4bedrm/2bath (2000sq/ft with 1000sq/ft garage) purchased for 250k and recently appraised for 335k (6months later). During contruction my contractor offered me 20k just to back out of the contract. I may look into Texas properties at this rate, for when I retire. I have family down there and absolutely love their life style. Quote Link to comment Share on other sites More sharing options...
misterp Posted October 1, 2007 Report Share Posted October 1, 2007 Yeah I'm happy to help - PM Sent. Mr. P. Quote Link to comment Share on other sites More sharing options...
misterp Posted October 1, 2007 Report Share Posted October 1, 2007 Yeah I'm happy to help - PM Sent. Mr. P. BTW - one of my apprentices just bought a 4-yr old home 3/2/2 1650 sq ft for $115K; my father pays him $70K/yr. I would call that pretty good cost of living. Mr. P. Quote Link to comment Share on other sites More sharing options...
KJT13 Posted October 1, 2007 Report Share Posted October 1, 2007 BTW - one of my apprentices just bought a 4-yr old home 3/2/2 1650 sq ft for $115K; my father pays him $70K/yr. I would call that pretty good cost of living. Mr. P. I want that! Quote Link to comment Share on other sites More sharing options...
CoolBlueSS Posted October 1, 2007 Report Share Posted October 1, 2007 Home prices here are cheap compared to the east and west coast. Sounds like a resonable deal to me, and being a college town a rental property would bring in some income. I'd be pretty selective on who rents it, though. Quote Link to comment Share on other sites More sharing options...
rivierakid55 Posted October 1, 2007 Author Report Share Posted October 1, 2007 yeah basically im just gonna get a little tiny referral fee out of this. the realtor out there will handle the purchase and also the property management. and steve ty for the help. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.