Writing about Central Park is like watching sand slip through the fingers. Savvy buyers are quickly snapping up properties in this neighborhood, part of what's called the "East End Revitalized" market area, and getting a lot of bang for their buck. Of the ten or so homes on the market right now, half are already under contract, ranging in price from $149,000 to $340,000.
Bryan Craft, a broker with Craft Texas Properties, says buyers are getting Heights-style homes and proximity without the hefty price tag. He's listed the cute three bedroom at 6928 J W Peavy (shown at the top of this page) for $284,900. Though built in 1940, it's been tricked out with all sorts of cool gadgets: surround sound, high-speed internet, Magnavox smart TV, video doorbell, and a new kitchen with custom shaker cabinets and granite counters.
"We're on the high end; everything's new. When we first took over this house it was a duplex with two electrical boxes in the kitchen; we put in a new panel. The analogy is, if you took that same house in the Heights, you'd be paying $600,000, $700,000 for the same house. [Central Park is the] same distance to downtown as the Heights — inside 610 East compared to inside 610 North. It's got the same amenities. It's up and coming; these houses are the first wave," says Craft.
"This area isn't far from the light rail [on Harrisburg]. It's near Buffalo Bayou. You can get to I-10 in five minutes, to 610 in five minutes, to I-45 in about eight minutes. It's very central," adds Craft.
Numbers don't lie. Right now properties in the Heights/Greater Heights market area top out at $3.175 million, while homes similar to Central Park (in terms of build date and square footage) are listed from between $250,000 to $720,000.
As for the "up and coming" part, the Buffalo Bayou Partnership has been granted an easement so that it can extend its trail system east of downtown. And when Midway's East River development begins to take hold, it will bring all sorts of work, play, dining and shopping opportunities to the region.
But the big question remains: is there an H-E-B store nearby? Kinda sorta. The Gulfgate H-E-B at 3111 Woodridge is not too far away, and there are about 20 smaller mercados or grocers in the area.
Misfortune brought the property at 7021 Avenue H back on the market. Built in 1938 and labeled a foreclosure, the three bedroom home features an expansive front porch. Updates to the interior include granite counters, hard floors, and modern tile in the bathroom, while the windows create an abundance of natural light throughout. This property has been listed by Johnny Hays of Re/Max Northwest for $208,000.
From listing to closing, this triplex at 6729 Avenue Q was only on the market for 63 days. Built in 1936 and with period finishes throughout, the investor paid between $185,001 and $215,000 and received an income-producing property with all three units fully leased. Sergio Garcia of Champions Real Estate Group handled the listing.
Other listings in the Central Park neighborhood include:
6835 Avenue L Avenue E, a two bedroom built in 2006 and listed for $340,000
6713 Canal, a triplex built in 1936 and listed for $319,000 (under contract - pending)
6514 Avenue J, a two bedroom built in 1930 that just sold for between $250,000 and $285,000
7014 Avenue C, a three bedroom built in 2018 and listed for $269,900 (under contract - pending)
6809 Avenue N, a newly constructed three bedroom listed for $269,000 (under contract - pending)
6842 Avenue L, a four bedroom built in 1938 and listed for $209,000 (under contract - option pending)
To learn more about the Central Park neighborhood, visit har.com/pricetrends/central-park-houston-realestate/687.