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For $400k – $450k is Kirkwood or Ormewood Park a better long-term investment?

This question surfaced on Trulia Voices today.

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Here’s my answer:

Two big police beats per neighborhood.

If you want to really dissect things, draw lines at the major commercial/retail borders and the railroad borders, and look at all 4 of the beat books.

From there, look where the $400-450s consistently sell.

As examples, Hawthorn Park is coming back in Kirkwood – back to prices above 2003-2004 new builder sales prices with unfinished basements and attics around $400ish… Same with Stoney River, Greystone, or Springdale builds on nice lots in Ormewood Park.

Both have active neighborhood organizations and some streets are generally better than others for "quiet, tree lined" living. Both neighborhoods still have a few gravel roads left too. Old school.

For $400-450K, without factoring in a specific need for one particular school district over the other, and without factoring in a particular commute or convenience requirement, it’s a toss up based on the house and the property.

Long term – these neighborhoods have both shown recent signs of stability and value in the $400-450K range.

Looking back, there were a lot more houses sold above $500K in the history of Kirkwood than there have been in the history of Ormewood Park.

I would argue that land prices for any given 1/4-1 acre parcel in each neighborhood are about the same comparatively today…

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