Is $600K The New Starter Home Price, Or Is It a Tear Down? It Depends …

Dallas house prices have continued to rise, and there’s really no end in sight. It amazes me weekly when I search for our Saturday listing, which used to be in the $600,000 price range until we realized we had to expand our search up to $899,000 to show you anything worthwhile. It made me think about what our new starter home price is now. So, I set parameters on my search. The home had to be somewhat centrally located and not far from downtown Dallas. It had to have character, meaning no brand-new builds, and it had to be under $700,000.

The house that really made me stop in my tracks was a cute Tudor with four bedrooms and two bathrooms at 5624 Martel, just down from the Granada Theater in East Dallas, listed for $685,000. It was completely gutted inside, and yet it was pending in four days. I have zero hope it will be anyone’s new starter home because that street is in transition, and it’s pretty much of a mess, in my opinion. The character of this part of town, unprotected by a conservation ordinance, is being destroyed daily. I fully expect a two-story duplex to be built here.

It’s a different story when a home is in a conservation district, which is why I advocate for them. I discovered a charming two-story Prairie in Winnetka Heights at 202 S. Edgefield for $679,000. This four-bedroom, three-bathroom home, has been meticulously cared for and is beautifully staged. In my view, it’s one of the best deals in Dallas right now, thanks to the conservation district’s role in maintaining property value. It is the absolute perfect new starter home!

A home at 4816 E. Side Drive is being marketed as a teardown at $640,000. It’s not surprising because the location is more than challenging: facing the back side of Planet Fitness and next to an apartment complex. It’s also zoned for multifamily so the Forward Dallas comprehensive land use plan advances density here and in this case, it’s not a bad thing. It’s also a great price for an investor.

I was not at all surprised to see the historic Tudor at 5731 Ellsworth Ave. pending in 18 days with multiple offers. The owners have lived here since 1971. It is beautifully maintained and within walking distance of Mockingbird Elementary. At $600,000, it was a steal. Lucky new owners!

Then, I found a  1952 ranch at 9915 Redondo Drive in Casa Linda Estates. It has the ceiling torn out of the kitchen, and considering it’s on half an acre and only a two-bedroom, one-bath home, it’s a goner at $600,000. It’s proof if you cannot maintain a home then don’t expect it to remain standing. This is a great neighborhood, so I fully expect a huge home to be built here that will completely change the vibe of the neighborhood. That’s progress, right? 

One of the best finds is at 9425 Springwater Drvei. It’s a classic 1964 home with four bedrooms and two and a half bathrooms. It is listed for $625,000 and in the up-and-coming Linwood Park/Casa Linda Forest neighborhood. It’s been completely updated and is move-in-ready. Get this: It has a pool! This is a beautifully intact neighborhood, close to White Rock Lake and this is one of the best new starter homes I came across.
 
This little endeavor of mine shows me two things about finding a new starter home. 

One: If you are looking for a single-family home with a bit of character in this price range, be prepared, in most instances, to do some cosmetic work and updating. 

Two: Have a darned good Realtor who knows what’s hitting the market before anyone else does.