Investors looking for a lucrative opportunity should consider the $35K fixer-upper at 612 Plum St, Coleman, TX. This property stands out due to its renovation potential and a recent electrical upgrade, designed to attract both seasoned investors and those new to real estate.
Finding affordable housing options is often a challenge, but Coleman TX real estate presents a unique solution for budget-conscious individuals and families. The cost of living here is about 22% lower than the national average, with median home prices under $60,000. This makes Coleman an appealing destination for anyone looking for economical housing solutions. Whether you're looking for a place to settle down, flip for a profit, or rent out, investing in this Texas fixer upper might just be your ideal option.
Investment Potential of 612 Plum St
The property at 612 Plum St is more than just a house; it's a blank canvas. While it does require repairs, the potential for transformation is significant. The recent city code-compliant electrical loop upgrade has laid a strong foundation for renovations, which could lead to impressive returns for the savvy investor. Here’s why this property is worth your attention
- Location: Situated just moments from Coleman’s dynamic new downtown park, the property enjoys close proximity to top-tier hospitals, shopping hubs, and acclaimed dining spots.
- Versatility: Whether you plan to flip, rent, or hold the property, its prime location enhances its value.
- Affordability: At only $35,000, this home is priced to sell, allowing you to invest more into renovations without breaking the bank.
Living in Coleman: Pros and Cons
Coleman offers more than just an attractive property; it boasts a unique lifestyle. However, understanding the benefits and drawbacks of living here is equally important.
Pros:
1. Affordable Cost of Living: As mentioned, Coleman offers median home prices well below the national average, making it particularly appealing for families seeking affordable housing options.
2. Low Crime Rates: Safety is a priority for families, and Coleman benefits from a lower overall crime rate compared to national figures, creating a secure atmosphere for residents.
3. Strong Educational System: The Coleman Independent School District is a significant draw for families with children. It serves about 794 students and boasts a commendable student-teacher ratio of 11:1, with a 100% four-year graduation rate, showcasing its commitment to academic excellence.
4. Accessible Healthcare Services: Residents don’t need to worry about healthcare availability. Coleman County Medical Center is a critical access hospital offering a variety of health services, including emergency care and family medicine.
5. Close-Knit Community Atmosphere: With a population around 4,000, Coleman fosters a tight-knit community, allowing residents to develop close friendships and connections.
Cons:
1. Limited Employment Opportunities: While Coleman does have job openings in sectors like retail, healthcare, and manufacturing, the overall job market is somewhat limited, with a median household income of about $44,515, below the national average.
2. Limited Public Transportation: The lack of a comprehensive public transportation system means that residents are largely dependent on personal vehicles for commuting.
3. Limited Entertainment and Dining Options: Those who enjoy a bustling social scene might find Coleman lacking in various entertainment venues and dining options compared to larger cities.
4. Aging Infrastructure: Some areas in Coleman may require updates and maintenance, which could impact the overall aesthetic and functionality of the community.
Why Invest in Coleman, TX?
Despite some limitations, investing in Coleman offers compelling opportunities, especially for those considering investment property investments. The favorable cost of living, access to quality education through the Coleman Independent School District, and the strong sense of community make Coleman an excellent choice for families seeking to maximize their budget.
The housing market in Coleman is also ripe for growth, thanks to its potential for appreciation and strong rental demand. The current state of the Coleman TX real estate market presents an advantageous entry point for new investors. The recent electrical upgrades, alongside other renovations, can boost property values significantly over time.
If flipping properties is your end goal, the emerging downtown and developments in Coleman can enhance resale values. Renovating the Texas fixer upper at 612 Plum St can contribute positively to the revitalization of this charming community.
Investors should act swiftly to schedule showings before this gem is snagged by someone else. The opportunity to transform a $35K fixer-upper into a thriving living space or investment can yield rewarding outcomes. Whether you’re eager to dive into the real estate market or simply want to provide affordable housing solutions, Coleman offers a unique blend of affordability, community, and investment potential.
In this promising environment, the potential for growth and suitable rental income makes it a smart move for anyone looking to expand their investment portfolio. Don't miss out on this opportunity; get in touch with your realtor to explore this exciting property and take the first step towards creating value in Coleman, TX.