Townhomes in Heights/Midtown/EaDo

[Mitchell Petras]

Does anyone have any experience with investing in townhome developments in the inner loop area, specifically in the Heights/Midtown/EaDo Areas? 

I have a lot of friends from college that rave about them, and I've been considering purchasing 2 townhomes in the $400k range (one as a principal residence while househacking, the other as purely a rental property); however, a good majority of the townhomes I've seen listed have had numerous price reductions, with some having an asking price nearly $100k lower than their original asking price!

The appreciation of those areas over time are definitely part of the selling point for me, but it seems like the people who are already there must be pretty disappointed when what they thought was a $450k townhome is selling at $350k.

I'm not looking at townhomes older than 2010, and I'm also not looking at areas that flooded, so I'm wondering what I'm missing!

Any insight would be great.