'Downtown' Greenville, SC - Lets Talk Specifics

[John Coleman]

I have been lurking on the boards for a while and mostly see new Greenville investor introductions followed by everyone saying 'Hi'.  Let's move the discussion along, let's talk specifics, let's talk the outskirts of 'Downtown Greenville'.  Not Mainstreet or the already yuppie areas, but the fringe.  I have my own beliefs on the area but first I wanted to know what the BP blogosphere is involved with.  Within a mile or 1.5m of downtown I see houses being bought for under $50k and sold/trying to sell for ~$100k (289 Werts, 253 Reeves, 9 Deering).  That's on the south-west side of town that historically has been rundown mill houses (Sullivan, Dunean, Sterling)  All the boarded up houses have sold in the past 3 years and not much is for sale that isn't the back end of a flip.  West Greenville is farther along but same story- Mill houses being upgraded or knocked down and rebuilt entirely.  

What are everyone's thoughts on these changes?  Does it have legs? Is it worth chasing?

What streets are 'good'? what streets aren't worth messing with?  Anyone have success stories or stories of disasters?

[Mario Brown]

@John Coleman We all learn from those that disagree, well stated.

I think that if you take a look at College Heights, East Lynn Addition, Sherwood Forest & Nicholtown (now Eastover) The evidence would surely lend itself to the idea that the growth rate in Greenville coupled with the national urbanization trend will see these areas be gentrified within the next 18-24 months. I think that it is simply a supply and demand game. 

3 years ago we purchased a home in Sherwood Forest off of Laurens Road for 83k we sold it one year ago for 135k with only a bathroom upfit. Unfortunately for me, that same home would sell for 175k-185k at 1200 sq. feet today.  ( 3 miles from the ball park)