Million-dollar listing signals change in Eastwood

An investor-flipped Eastwood home has been listed at a record price for the neighborhood: $1 million. As demand for inner Loop real estate has skyrocketed, so have prices in previously affordable neighborhoods. An investor-flipped Eastwood home has been listed at a record price for the neighborhood: $1 million. As demand for inner Loop real estate has skyrocketed, so have prices in previously affordable neighborhoods. Photo: Rockbait Photo: Rockbait Image 1 of / 44 Caption Close Million-dollar listing signals change in Eastwood 1 / 44 Back to Gallery

An investor-flipped Eastwood home has been listed at a record price for the neighborhood: $1 million.

As demand for inner Loop real estate has skyrocketed, so have prices in previously affordable neighborhoods. From 2003 to 2012, the median price per square foot in the neighborhood east of Downtown hovered around $94, according to HAR data. That jumped to $182 a square foot in 2018.

The five-bedroom, four-and-a-half bathroom home at 4503 McKinney St. is listed at $275 a square foot.

The Eastwood neighborhood was master-planned in the early 1900s by the same man who created Woodland Heights. The previous record listing was one block east, which HAR reports as having sold between for between $717,000 and $827,000.

EASTWOOD: After a century, Eastwood still enchants

While that home focused on preserving history — it was one of the original homes in the neighborhood, and won a Good Brick Award from Preservation Houston in 2006 — 4503 McKinney St., which the Harris County Appraisal District lists as built in 1900, was torn down to the studs, said the home's selling agent Kay Wright. The home was bought by investors to flip.

"It was pretty much gutted," she said. "They redid everything from roof to electrical to plumbing."

The home has two master bedrooms and herringbone wood floors. But the main draw, according to Wright?

"The location."

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