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Forget Boardwalk and Park Place, come see what $500,000 will get you in Houston real estate.
Forget Boardwalk and Park Place, come see what $500,000 will get you in Houston real estate.

Houston By the Neighborhood: What a $500,000 Property Looks Like Today

Ready to buy your first home, next home, or an investment property and your budget's set at a cool half a million? Here's what you can get in and around the Houston area for $500,000. Hint: the results include cleared land, midcentury tear-downs, a Montrose townhome and — restoring our faith in real estate — a five bedroom manse with a pool.

Empty Lots

Design your own dream home with these empty lots. Mature oak trees, no HOA, and security fencing already in place make this Pasadena-area lot at 18964 Groeschke the ultimate starter kit for any swankienda. Or, a little closer to home, zoom in on this "Heights-adjacent" property at 500 Vincent near I-45 and North Main; or a single acre lot at 5317 Briscoe in Medical Center South.

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Throwback Thursday

Granted, we've lost more than a few vintage and midcentury gems to the Tax Day flood, Memorial Day flood and the nightmare that was Tropical Storm Harvey — others are still standing but only just barely, while the wrecking ball hovers ever closer. There's a circa 1920 two-story in Historic Heights at 711 Allston that, admittedly, is in pretty rough condition. A lovely corner lot at 3754 Tartan in Braeswood Place has been gutted but a lovely Gunite pool remains. As depressing as these stories are, it's refreshing to also discover the beautifully renovated 1963 home at 1822 Widdicomb in the Heights.

Recent and New Construction

Embrace suburbia with this stunning five bedroom home at 5728 Santa Fe Springs in Lakes on Eldridge North, where the kids can choose to attend Awty International, British International or The Village School. There's also a newly constructed townhome with an elevator at 1230 Murrayhill in Spring Branch, and a three-story townhome at 1967 Haddon in historic Hyde Park that so consumes the lot the grass could probably be cut with a weed-eater. Neighbors are always a stone's throw away in a similar property at 1515 Hyde Park that's within walking distance of Montrose area eateries.

Our take on all this? It's nice to see that, for a cool half a million, there are still properties for sale that actually include a move-in ready home.

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