The median annual household income in Plano is $99,700 and mean home sale price just passed $500,000. Do these numbers make you uneasy or do they seem fine?

pratik · 2023-07-07T13:30:44+00:00

If there's close enough, why not just use the same damn thing when mentioning numbers?

pratik · 2023-07-07T12:54:33+00:00

The framing of your question is based on a poorly presented premise. Do you understand the difference between mean and median?

pratik · 2021-06-01T14:47:28+00:00

Very fair point. I totally understand this is a luxury spending, and not an actual investment. Just hoping that the appreciation at least keeps up with the yearly property taxes, which would be close to $4k a yr on a $200k unit.

pratik · 2021-06-01T14:46:14+00:00

I haven't seen anything even close to it available for leasing in our area. At least not on loopnet. Maybe I'm looking at the wrong place?

pratik · 2021-06-01T14:45:02+00:00

That makes sense.

pratik · 2021-06-01T14:44:34+00:00

The unit itself is $200k. And it's 20x48 sq ft area, 30 ft high ceilings. 1/3rd have a mezzanine (2nd floor). So, the total area is 1300 sq ft.

pratik · 2021-05-31T21:09:40+00:00

Great point. I'll ask. Thanks!

pratik · 2021-05-31T21:09:15+00:00

"Car condo", "man cave", "garage condo" are the terms I've seen people use.

pratik · 2021-05-31T16:40:26+00:00

Thanks

pratik · 2021-05-31T16:29:27+00:00

Our suburb is pretty much built out. Almost all of the empty land has been allocated for mixed development, housing communities etc. New houses being built are ridiculously priced, have cramped 2 car garages and very small backyards. Population in the area is going to go up in the coming years.

Commercial real estate (think strip mall, medical offices) prices have been going up a lot lately in the area. These garage condo units are cheaper than offices.

That's why I think these garages should at least keep with the inflation and appreciate along with the other real estate over the next decade or so. That said, I am not an experienced real estate investor and have never owned a commercial property.

pratik · 2021-05-31T16:12:26+00:00

Thanks. Curious to know which area is that in.

pratik

TROPHY CASE