Anyone who is interested in my methodology or where I got my data (Zillow) feel free to connect with me and I'm happy to share. 1 Memphis, TN 2 Jackson, MS 3 El Paso, TX 4 Winston-Salem, NC 5 Greensboro, NC 6 Scranton, PA 7 Lakeland, FL 8 Tulsa, OK 9 Dayton, OH 10 Chicago, IL   It seems like you’re not considering stats on if the population is growing or shrinking, employment is growing or shrinking, property taxes, and if its landlord friendly or horribly tenant friendly like NY.  

I have seen over that time a huge increase in values and shrinking cap rates.

But far more important is what you won't see.You won't see exterior wall that are bowing out (common prior to the early 1800s), floors that are out of level due to shrinking cedar post supports (also common prior to the mid 1800s), ancient cast iron plumbing, knob & tube wiring, termite tunnels or rotted beams and you won't be able to smell the property.One of the first things I do at a property is to head to the basement and sniff. 

At low temperature, lots of plaster will shrink and crack off old walls, for instance, heavily-worn cast iron drain piping will dry out even more and crack.

Do you think the area is growing or shrinking?

I would seriously consider shrinking the width and elongating it by going to the ceiling.

If you're going the way of packing the gaps, I would suggest a high strength non-shrink grout rather than your typical bagged concrete.

We only have about 200 houses on the market (and shrinking by 10-15/day and new inventory hitting the market is about 3-5 per day hitting the market).

Is the city expanding, shrinking or staying the same?

And w/ the growing tech boom, low rates, and shrinking inventory, the demand is continuing to get even stronger.