Duplex in Parker Lane - is it safe?

Question

Hi,

I'm new to Bigger Pockets forum but have been listening to a lot of their podcasts and read some of their books (and others!). I'm thinking of purchasing a duplex in Parker Lane (zip code 78741). I've only lived in the Hyde Park area since I moved to Austin so I don't really know much about this neighborhood. It seems mostly residential where the property is but the proximity to highways as well as types of shops/restaurants gives me little pause. I think I can rent out one of the units pretty easily (I'll be living in the other/airbnb) due to remodeling and proximity to St. Ed's and downtown but do you think it's comparatively safe neighborhood? (i.e. as a woman, can I walk around?) What's your opinion on growth rate for the neighborhood (i.e. gentrification)? I'd love any opinions and advices since this will be my first property purchase (hopefully first of many!) Thanks :)

Nate R. · Answer

Crime can happen anywhere. I don't mean to frighten you, but there have been at least a couple of high-profile murder cases of women killed while walking alone in and around the area where you currently live (Hyde Park, campus). If you want safe, buying a house in the quiet suburbs would be the best option. You could deal with the risks in other constructive ways like getting a dog, learning to use a concealed firearm, avoiding situations that put you at risk (walking alone late at night - use an Uber/Lyft instead), etc.

As an investment, I like the area you mentioned. But, be aware there is more property crime in gentrifying areas like East Austin. I lived in this area and had to deal with a couple of break-ins (2012-2014) before I decided to leave.

https://spotcrime.com/tx/austin#78741

As an investment, I like the area you mentioned. But, be aware there is more property crime in gentrifying areas like East Austin. I lived in this area and had to deal with a couple of break-ins (2012-2014) before I decided to leave.

https://spotcrime.com/tx/austin#78741

Danny Webber · Answer

Search the crime stats from APD to see real numbers.

http://www.austintexas.gov/department/crime-information

Jason Hirko · Answer

It's a data analytics service we are a part of.

Rob B. · Answer

@Chloe Kwon Welcome to Bigger Pockets! If you do decide to purchase the duplex and then rent out the other unit, definitely make sure you fully utilize a tenant screening service so you don't end up in a bad situation (might be worth looking into one that offers to list the unit, tenant screening, digital lease creation, online rent collection, and maintenance tracking). Since it is near St. Ed's and is located by the downtown area though, this potentially will have a fairly consistent renters market for the foreseeable future. Best of luck with your new endeavor!

Alex G. · Answer

@Jason Hirko - where did you find this chart? Thanks.

@Chloe Kwon - it's a good area to invest in. I'm on my 4th property right in that very pocket.  Had a 3-unit building on Parker. While I haven't lived there myself, I haven't heard anything negative from my tenants. The prior owner did have some problems with break-ins, but it was poorly managed. It certainly  always is advisable to exercise basic safety precautions, such as keep windows locked up at night  and when you leave the house, getting dead-bolts installed and using them, etc.  I think @Nate Reed made some good suggestions about getting a dog and others. Burglars don't like to trying going inside once they hear dog barking.

Alex G. · Answer

@Jason Hirko - where did you find this chart? Thanks.

Jason Hirko · Answer

@Chloe Kwon That part of town is certainly a lot better than it used to be. Women live in worse parts of the city and make it work. It's really a personal preference. As for growth and gentrification, it is certainly trending upwards, but is highly saturated with rentals.

Chloe Kwon · Answer

Thank you so much all for your replies! It's great to know that BP Austin forum has so many helpful investors. I looked and compared the crime stats over last year against where I currently live in Hyde Park (Thanks Danny Webber and Nate Reed for the tip!) and surprisingly it was pretty comparable in terms of types and frequency of the crime. I'll be driving around in different time to see if it feels too dangerous for me but appreciate all your tips!

Kris Wong · Answer

I live in this zip code (Pleasant Valley and Elmont). In South Shore, there are new townhomes selling in the $600s. I also own a duplex off Burleson. This area is rapidly gentrifying and is one of the most developed zip codes in the city. I don't consider safety much of an issue here. I recommend that you drive around here during the day and at night to get a feel for it yourself.

Joe Scaparra · Answer

Most areas of Austin are improving.  This economic boom is raising all boats.  When people do better economically then neighborhoods improve.  Unfortunately, the low-income segment is being pushed out of Austin.  As new investors move in to improve property, rents rise and you will see improving neighborhoods.  So if you are finding good cash flow on a duplex, grab it before others do.

Duplex in Parker Lane - is it safe?

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