Best (Safest) St. Louis City Neighborhoods (Chesterfield, Ballwin: insurance, homes, magnet school)

[aragx6]

Even a property needing extensive renovations in a good neighborhood would be a find at under 100k.

But if you're willing to take a gamble on a neighborhood that's still pretty questionable, you could stand to make some bucks over the next 5-10 years.

[anr_black]

It would take some doing, but I think you can find a property needing some work for around 100, especially with flippers who haven't done such a good remodeling job and can't sell. A 3 bed, 1 bath house on my street sold for $123K two years ago because it was a bad flip (meaning the materials just weren't very good)> The house was definitely habitable though. The owner originally had it listed for $165 and $175-200 is what houses usually sell for here. The buyer just got lucky and found a guy that had to sell or was going to lose the house. That's what you need to be looking for.
Amy

[aragx6]

Very true Amy. Look for pre-foreclosures; those people are desperate. Once they're foreclosed on and owned by the bank it can be a real pain to buy because banks aren't known for being helpful or willing to work with you.

[aragx6]

Oh also, Amy, what 'hood are you in?

[new2lex]

Originally Posted by jojojohnson76

sixtwobaldguy has a nickname that obviously tries to make himself feel tough, yet he lives in fear. Interesting.



My question is, if you find a house IN the city for $100k or less that is 2 or 3 bd and over 1200 sq ft , does that mean it is terribly outdated/scummy?

Yes, you will need to pay between $100 and $110 per square feet even in this market for something nice. Now, you might find a fixer-upper around $73 a square foot. You really need an agent that really KNOWS the city. An organized neighborhood association is essential, but you also want to know the streets and blocks. There are some areas of the city that are just not very safe and its because unorganized blocks/neighborhoods become havens for drug dealing and young, uneducated renters who do not have stable incomes, etc.

If you are looking for something around 100k, I'd look for a 2 bedroom bungalow around 1000 sf. with one bath and a good basement that you could finish off for extra square feet in a transitional neighborhood like Oak Hill (that is organized, and has strong neighboring areas like the Tower Grove Heights neighborhood). Or, you can find really great condos right now around 120-135k just because the market has really bottomed out there... but I'm not sure about condos as a solid investment... and you have the neighbor issues.

[new2lex]

Originally Posted by By~Tor

I lived on Senate Street, near Salena in the Jefferson/Gravois area, which is a sister 'hood to Shaw, and within sniffing distance of the Brewery... never had a single crime that I knew of on our street.... not in 5 years...

Yes, Soulard is a good area but pricey and Benton Park is in transition but has had stable rehabbing. The only issue with Benton Park is that there are a lot of empty houses now where people have gotten stuck flipping them... and I get nervous about the Benton Park "West" Jefferson area near Roosevelt High School (one of the worst in the city). Tower Grove East is also very organized, but closer to Grand is stronger than closer to Jefferson... that Jefferson/Gravois area still has issues. I know people who have been working on rehabs there and have had all their copper pipes stolen out of the houses!!

[aragx6]

I think any of those neighborhoods are good long-term investments. I don't know that there are many short-term investments out there right now. St. Louis' real estate market is no where near as bad as many of the other areas in the country, but for the most part it's still a buyer's market.

Tower grove prices are already on the up and up, so I think Benton Park or Oak Hill could realistically make you the most money over the course of 5-7 years, but there's not much going on in those neighborhoods as far as retail yet.

[anr_black]

Originally Posted by aragx6

Oh also, Amy, what 'hood are you in?

We live in Southampton.

[Hick]

Wow, born in St. Louis over 40 years ago.....seen you made #1 in Crime since I have been traveling the world....Way to go!!!!

[aragx6]

Hick is a good name for you