Neighborhoods in the Triangle area

[Bill Loeb]

Hey everyone - I am new to BiggerPockets. I joined because I am looking to diversify into real estate and am searching for properties to buy and rent out. I live in Chapel Hill, NC, and prices here and Carrboro are expensive enough (especially given the property taxes) that it is hard to make the numbers work. So, I am looking in nearby areas instead. Unfortunately I am nowhere near as familiar with the neighborhoods in the other towns around here. So my question is: what are the neighborhoods that rent well in this general area? I don't mind going a bit out, so this could be in Durham, Cary, Raleigh, Hillsborough, Pittsboro, Burlington, etc. Thanks in advance for any insight.

[Eric Weireter]

Hi @Bill Loeb - here's a rundown of the Durham market - which is where I'm located...

Duke Park & Trinity Park - Definitely neighborhoods that have arrived. Great places to live. Definitely Pricey, but there are a few deals here.

Cleveland-Holloway - You could say "currently" arriving, but I think it has arrived for the most part. There are already houses in this area that cost as much as homes in Duke Park and Trinity Park. OTOH, this is definitely an area in transition, as many residents are not in the income bracket of where the neighborhood is trending. So, theoretically there are deals here, but the holdover property owners (not always the same as holdover residents) know what is happening in the area and prices for houses in need of complete reno houses are going up and up.

Albright - The transition is starting and yes it will take a while to fully take hold. The positive side is there are deals to be had here. The negative side is depending on how far from the downtown core you go, gentrification may take longer than you wish to arrive. I really like the potential of this area. 

East Durham - I could see many out-of-town investors and even local investors overlook this area. After Albright arrives, this is the next logical move for gentrification. Prices here have risen somewhat over the past few years. This area is definitely not as "dangerous" as it was in recent years, but I imagine it would appear too sketchy for many investors.

Forest Hills - This has been an "arrived" neighborhood from the day it was conceived. I don't live there, but if you gave me enough money I'd be there. 

Hope Valley Farms - Has a great location and lovely homes in the core part. Appreciation potential could be high on an older home. The area surrounding Forest Hills is pretty reasonable. 

American Village - Just west of Duke's campus, large 80's-90s era family homes and the area south of campus bordering MLK but before you get to Hope Valley for affordable 2-3 bedroom houses on big lots. There is in-fill building happening all around American village. 

The Lakewood area southeast of campus has gotten expensive but 2 blocks east are some bargains. 

Woodcroft is always a safe bet but many of the houses are a dark/rustic style that is hard to update. 

There are also some cool houses going up in the neighborhood just west of the ball-park on the other side of highway 147 around roxboro/mangum, I see that as an up and coming area due to proximity to downtown. 

Let me know if I can help further!

-Eric