The Home Buyer's Korner

Information presented should be used for educational purposes only.

April 27th, 2016

Guy looking up in color

GREATER NEW ORLEANS, LOUISIANA

Lower Garden District

Felicity St/Magazine St 70130 Neighborhood

The Home Buyer’s Korner

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BUILDING THE DREAM OF HOME OWNERSHIP

Euterpe Street New Orleans 70130

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The median real estate price in the Felicity St/Magazine St (Lower Garden District) neighborhood of New Orleans, Louisiana is $423,150, which is more expensive than nearly 99 percent of the neighborhoods in the state and 85 percent of the neighborhoods in the country.

The average rental price in the Felicity St/Magazine St (Lower Garden District) neighborhood is slightly over $1,400 a month, and the average rental cost in this neighborhood is higher than nearly 94 percent of the neighborhoods in Louisiana. Most of the residential real estate is renter occupied

Felicity St/Magazine St (Lower Garden District) area is an urban neighborhood located in New Orleans, Louisiana, and real estate is primarily made up of small studios to two bedroom and medium sized three or four bedroom multi-family housing options, like condominiums, town homes, duplexes, and apartments. Furthermore, the Felicity St/Magazine St (Lower Garden District) neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With over 81 percent of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the country that share this characteristic.

This neighborhood is an absolutely outstanding example of the dominance of small two, three, and four unit housing compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood’s real estate stock. In fact, almost 40 percent of the real estate here is made up of such dwellings.

Also of note, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With over 76 percent of the residential real estate in the Felicity St/Magazine St (Lower Garden District) neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than almost 99 percent of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Felicity St/Magazine St (Lower Garden District) neighborhood has a vacancy rate over 14 percent, which is well above average compared to other neighborhoods in the country and higher than nearly 72 percent of American neighborhoods. To learn more about this neighborhood’s vacancy rate and its effects on your home buying or selling options, consult your real estate agent.

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its flair. Some places look the same, but they only reveal their true character after living in them for a while and why it’s important to learn all you can about the neighborhood you plan to call home. 

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With over 15 percent of residents in the Felicity St/Magazine St (Lower Garden District) neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than almost all neighborhoods in the country.

Do you like to be surrounded by people from all over the country or the world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? This neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the Felicity St/Magazine St (Lower Garden District) neighborhood, a greater proportion of the residents living here today did not live here five years ago. This neighborhood, more than almost any other in America, has new residents from other areas.

If knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Felicity St/Magazine St (Lower Garden District) neighborhood, where one third of residents have earned an advanced degree. Compare that to the average neighborhood in America, where just over eight percent of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. 

One of the most interesting things about the Felicity St/Magazine St (Lower Garden District) neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With nearly 49 percent of the households made up of people living alone, this is a larger proportion of people living alone than in over 96 percent of the neighborhoods in America.

The Felicity St/Magazine St (Lower Garden District) neighborhood is considered a great choice for executive lifestyles, based on the well-to-do, educated professionals, executives, and managers who choose to reside here, the spacious homes that are prominent features of the real estate in the neighborhood, and the high real estate appreciation rates found here relative to other neighborhoods in the state. 

Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American’s enjoys taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. Most certainly, the Felicity St/Magazine St (Lower Garden District) neighborhood is one of the most walkable neighborhoods in America.

In addition, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate by neighborhoods dominated by small two, three, and four unit housing options. Many are in older core neighborhoods here in New Orleans. If you’re romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist on the corner, then you might find the Felicity St/Magazine St (Lower Garden District) neighborhood worth a closer look.

Your future neighbors in the Felicity St/Magazine St (Lower Garden District) neighborhood of New Orleans earn upper middle class incomes, and this neighborhood has a higher income than nearly 69 percent of the neighborhoods in the country. 

In the Felicity St/Magazine St (Lower Garden District) neighborhood, 61 percent of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 22 percent of the residents employed. Other residents here are employed in manufacturing and laborer occupations at 10 percent, and over seven percent in clerical, assistant, and tech support occupations.

Culture is the shared learning behavior of peoples. Undeniably, different ethnicity and ancestry have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or other ethnicity or ancestries will express those cultures. 

In the Felicity St/Magazine St (Lower Garden District) neighborhood of New Orleans, LA, residents most commonly identify their ethnicity or ancestry as Irish or South American at over 11 percent, and residents who report English, French or German roots at over six percent, while over five percent of this neighborhood’s residents have Welsh ancestry. In addition, over 20 percent of the residents of this neighborhood were born in another country.

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Felicity St/Magazine St (Lower Garden District) neighborhood is English, spoken by 69 percent of households, while over four percent of its residents primarily speak African languages at home. Other important languages spoken here include Spanish and French.

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LOUISIANA HOME OWNERSHIP TOOLS

Your Home Purchasing or Refinancing & Renovation Tools,

Home Improvements, Home Renovations,

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase.

Here are just a few of the home improvements

you might consider with any Home Renovation loan

Repair or replace a roof

Install, replace or repair gutters and downspouts

Replace, repair or upgrade your HVAC system

Repair or replace plumbing

Install, repair or replace electrical systems

Kitchen remodeling (including the purchase and installation of appliances)

Bathroom remodeling, Full interior painting, Total exterior painting

Repair or replace a septic system and/or well

Disability access (wheelchair ramp, elevator, widen doorways)

Build, repair or replace deck, patio or porch

Basement waterproofing and finishing

Abatement/Stabilization of lead-based paint hazards

Replace old windows, Room additions, Finish an attic

Add a second story to your home

Replace a termite damaged sill plate (a water-damaged sill plate also)

Possible landscaping items such as correction of grading & drainage problems,

tree removal, repair a driveway and sidewalks

FHA 203K

Your Home Purchasing or Refinancing & Renovation Tool

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

FANNIE MAE HOMESTYLE

The Conventional Alternative to FHA 203K

Great for Real Estate Investors and Second Home Renovations

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

FANNIE MAE HOMEPATH RENOVATIONS

Rebuilding the Dream of Home Ownership

Fannie Mae HomePath has No Mortgage Insurance up to 95% LTV

Up to $35K for Home Improvements, Renovations or a Simple Remodel

Mortgage Loan Officers, Real Estate Agents & General Contractors are ready to assist you with your home purchase

USDA RURAL DEVELOPMENT

Up to $10K for Home Improvements, Renovations or a Simple Remodel

Mortgage Loan Officers, Real Estate Agents & General Contractors are ready to assist you with your home purchase

A SIMPLE HOME SHOPPING INSPECTION TOOL

Organizing your home shopping experience affords a wise decision-making process.

This simple home inspection tool makes your ultimate buying decision a smart one.

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70130 Lower Garden District

70130 French Quarter Lower Garden District Race St Jackson Ave Rousseau St Common St 2nd St Polymnia St Terpsichore St Chestnut St Camp St Decatur St Bourbon St Clio St 2 1525 Clio St St Charles Ave Union St Clio St Orange St Melpomene St Thalia St Canal St WHITNEY BLDG Port of Orleans Pl Carondelet St 2nd St Annunciation St Annunciation St Camp St Carondelet St Carondelet St Coliseum St Constance St Euterpe St Jackson Ave Jackson Ave Jackson Ave Jackson Ave Magazine St Magazine St Margaret Pl Saint Andrew St Saint Andrew St Saint Mary St Philip St Washington Ave Washington Ave 536 Royal St St Charles Ave Constance St Chippewa St Chippewa St Notre Dame St Richard St 450 John Churchill Chase Prytania St 1805 coliseum st #1 402 Julia Street 812-814 Philip 539 Toulouse St. Tchoupitoulas St 333 julia st. #508 Wilkinson St Jackson Ave Saint James St Peters St Hastings Place # Peters St 3rd St 3rd St 2625 constance Wilkinson St St Charles Ave 1st St Washington Ave 1430 Jackson Avenue Harmony St Poydras St 448 Julia St. Conti St Annunciation St Thalia St Erato St Felicity St Prytania St Laurel St Gravier St 920 Poeyfarre St Royal St Felicity St Lafayette St Philip Diamond St Jackson Ave 610 John Churchill Chase St. Charles Ave Religious St Saint Louis St Exchange Pl Saint Andrew St Philip St Commerce St Jackson Ave 920 Poeyfarre Street Chartres St 920 Poeyfarre St. 1805 Coliseum St. #1 Melpomene St Saint Mary St 1st St Josephine St Chippewa St Laurel St Chippewa St Julia St St Charles Ave 515 226 Decatur Natchez St 516 Conti St 1631-33 Saint Charles Ave Hastings Pl Girod St Magazine St For Sale Bienville St Julia St River Rd Fourth St Carondelet St Commerce St Euterpe St Urania St 1st St Saint Charles Ave Phillip St Sophie Wright Pl 448 Julia Street Celeste St St. Mary 2619 st Thomas street Soraparu St Iberville St John Churchill Chase St 334 Carondelet Street 1818 Carondelet St 2527 Rousseau St Carondelet St -Robert C Blakes Sr Dr Coliseum St 1817 1821 Magazine St Annunciation St Diamond St Saint Joseph StPort  of New Orleans Pl Poeyfarre St Saint Thomas St 425 Notre Dame St 600 Port of New Orleans Place Toulouse St Magazine St Peters St 4th St

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