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We have been house hunting and found some nice results in this 27606 zip code. Unfortunately, I do not know much about the area.
Anybody have any insight?
Here is a google map image with the general location circled:
Pros: there are many affordable homes (for Raleigh), close to some nice natural areas (Lake Johnson, Lake Wheeler), close to NCSU and not far from DT Raleigh, easy beltline access.
Cons: lots of college students, home appreciation rates generally not as high, a bit of a hike to RTP, some roads in that area can get pretty congested during rush hour.
Disclaimer: "pros" and "cons" are in the eye of the beholder, so some of the cons may be pros for you, and vice versa.
Yes, it is a nice area, you just have to be aware that the university (NC State) is close to that area so there certainly are neighborhoods that cater to students. I have no idea of your price point either, so it makes it a bit more challenging!
One of my favorite areas is north of your area, the neighborhoods in and around glen eden road.
Definitely scope around the neighborhoods, but scope quickly, because many students move out in early may and do not return until august!
I've lived in this area for 3 years in an apartment (although I was a NCSU student for two of those years). Traffic is not as bad as you think. The only roads which are really heavy is Western Blvd (between I440 and NCSU) during rush hour and maybe Avent Ferry. Other than that, its convenient to everything (downtown, shopping, restaurants, bars, clubs, NCSU). I worked in the RTP (Sony Ericsson) for a while and my commute in the morning was 15 mins and in the afternoon about 30 mins. Also, you don't need if you didn't feel like driving, you can catch the Wolfline for free or the CAT bus and it'll pretty much take you anywhere you would want to do.
price point is low 200s, up to ~225k, if that helps
Definitely do your research (drive around!!!) because within that price point you may end up with students living around you, or in neighborhoods that have a lot of rentals. That is not necessarily always the case but definitely a possibility.
It's a large area and is hit or miss. I actually grew up abck there and still love my old neighborhood. There are some lovely older neighborhoods with large, very well kept homes which have appreciated VERY well (and large, well established yards). There are also some nice developments with newer homes, and then there are some areas which have lots of rentals and college students and are not well maintained. There are some areas with nice apartments/townhomes and some areas with really crappy ones. It is convenient to Lake Johnson, the Farmer's Market, NCSU, Meredith College, downtown, and I 40.
I definitely wouldn't rule that area out, but I would suggest getting a realtor familiar with Inside the Beltline homes to help you pinpoint the nice ones.
I have been telling my friends for years that, if you are looking to be closer to town and literally "Inside the Beltline" for a lower price, this is a good place to start. Others have already outlined the current pros and cons but I'll offer that those pros and cons aren't necessarily inclusive of each other. That is to say, the area has student sections and no-so-student sections. There are apartments and single family houses. If I were looking in this area, I'd focus on the Western section of your "circle" in the neighbhorhoods with mid century single family homes on large lots. This includes the section within your circle that is across I-440. I see lots of potential upswing in value in those neighborhoods. If you start with where Melbourne Rd. crosses 440 and look to the immediate East and West of that location, you will also find that access to the rest of the city is much easier. Unfortunately, that intersection works only to and from the North toward the rest of Raleigh but not to and from the South toward Cary.
I agree, that area is very hit or miss. The eastern part of your circle closer to NCSU contains a lot of student housing. Then there is a lot of low income housing along Buck Jones Road and Jones Franklin Road on the west part of your circle. But there is a nice established neighborhood in the middle that seems like a decent place to live. The houses there seem to sell for a small premium and my impression is that there is a high percentage of owner-occupied houses there. This is the area I am referring to:
As indicated in the sales records, most of the lots in that area are valued at $90,000 which suggests that it is a fairly highly valued, stable neighborhood.
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