The Home Buyer's Korner

Information presented should be used for educational purposes only.

April 30th, 2016

Guy looking up in color

GREATER NEW ORLEANS, LOUISIANA

Faubourg Marigny – Bywater

Franklin Ave/Chartres St 70117 Neighborhood

The Home Buyer’s Korner

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BUILDING THE DREAM OF HOME OWNERSHIP

Royal Street New Orleans LA 70117

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The median real estate price in the Franklin Ave/Chartres St (Faubourg Marigny – Bywater) neighborhood of New Orleans is $329,900, which is more expensive than nearly 96 percent of the neighborhoods in the state and 77 percent of the neighborhoods in the country.

The average rental price in the Franklin Ave/Chartres St neighborhood is currently slightly over $1,250 a month, the average rental cost in this neighborhood is higher than over 87 percent of the neighborhoods in Louisiana. Most of the residential real estate is occupied by a mixture of owners and renters.

Franklin Ave/Chartres St area is an urban neighborhood located in New Orleans, Louisiana, and the residential real estate is primarily made up of small studios and two bedroom to medium sized three or four bedroom single family homes, and other multi-family housing options like condominiums, town homes, duplexes, and apartments.  

Three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner. These are some of the hallmarks of neighborhoods with lots of small two, three, and four multi-family housing. The Franklin Ave/Chartres St neighborhood really stands out in this regard, however, as it is dominated by such small multi-family buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 42 percent of the real estate, here are small two, three, or four unit building.

Many of the residences in the Franklin Ave/Chartres St neighborhood are relatively historic, built no later than 1939 and in some cases, quite a bit earlier, while a number of residences were built between 1940 and 1969.

Do you watch home improvement shows on TV? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Franklin Ave/Chartres St neighborhood stands out on a national scale for the sheer concentration of historic residences it contains at over 81. This is a greater concentration of historic homes than in nearly all the neighborhoods in the country. 

Franklin Ave/Chartres St area has a 17 percent vacancy rate, which is above average compared to other neighborhoods in the country, and higher than nearly 79 percent of all the neighborhoods in the country. To understand this neighborhood vacancy rate and its effect on your home buying or selling options, consult your real estate agent.

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flair, can make all the difference when choosing a neighborhood to call home.

One of the first things that you might notice if you moved to this neighborhood is that an nine percent of the households are members of the LGBT community and an indicator that this neighborhood is likely a gay-friendly neighborhood. If you are looking for such a neighborhood, the Franklin Ave/Chartres St neighborhood should definitely be on your must see list.

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With over 12 percent of residents in the Franklin Ave/Chartres St neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than nearly all neighborhoods nationwide.

Your future neighbors in the Franklin Ave/Chartres St (Marigny) neighborhood in New Orleans earn middle class incomes, and this neighborhood has a higher income than over 54 percent of the neighborhoods in America.

In the Franklin Ave/Chartres St neighborhood, 54 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 nearly one third of the residents employed. Other residents here are employed in manufacturing and laborer occupations over seven, and more than six percent in clerical, assistant, and tech support occupations.

Each neighborhood has its own culture derived primarily from the ancestry and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture, some more unique than others, based on lifestyle, occupations, the types of households, and importantly, on the ethnicity and ancestry of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Franklin Ave/Chartres St neighborhood of New Orleans, LA, residents most commonly identify their ethnicity or ancestry as German at 12 percent. There are also a number of people of Irish or Italian ancestry at nearly nine percent, and French ancestry at six percent, along with some English or Scots-Irish ancestry residents around five percent, and over one percent have Swiss ancestry, among others. 

The most common language spoken in the Franklin Ave/Chartres St neighborhood is English, spoken by over 94 percent of households, while over two percent speak French and one percent speak Japanese.

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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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70117 Faubourg Marigny – Bywater

70117 Bywater St Claude Lower Ninth Ward St Roch 3915 N Claiborne Ave Port St 1702 Gordon St Louisa St Deers St Marigny St Villere St 2020 Alvar St. Choctaw St Spain St Caffin Ave -1031 Lamanche St Strand Ct Marque St Monticello St 1331 Bartholomew St 3220 Chartres St. Piety St Forstall St Dauphine St Louisa St Painters St Eads St St Claude Ct Derbigny St Charbonnet St Elysian Fields Ave 2826-28 FLORIDA AVE Franklin Ave Saint Maurice Ave Robertson St Rampart St Galvez St Burgundy St Rocheblave St Tennessee St 3936 Burgundy 1305 Independence St. 1732 Port St. Clouet St Delery St 6015 Royal St 1212 Mazant Derbigny St Roman St Arts St Alabo St Rampart St Comus Ct Dorgenois St Valjean St Saint Roch Ave Almonaster Ave Pauline St Miro St 2621 Burgundy St. Claiborne Ave Marais St Roffignac St Clouet St Ellis St Independence St Byrne Pl Feliciana St 1901 st ferdinand st Rosalie Aly 930 Elysian Fields Ave. Egania St Burgundy St NINA ST Douglas St Bienvenue St Marigny St 927 gordon street Johnson St Elysian Fields Ave Praro St St Maurice Ave Desire St Deslonde St Desire St Rampart St Bartholomew St Alhambra St Orin St St. Ferdinand St Tricou St Flood St Gallier St Dogwood St 1834-36 Elysian Fields Alice Ct 918-20 Forstall Mandeville St 1812 elysian fields 1915 Music St Poland Ave Hamlin St Johnson St Decatur St 1239 Saint Ferdinand St 1429 Gallier St 3131 N Villere St 4535 Marais St 830 Lizardi St 831 Lizardi St Peace Ct Dauphine St Jourdan Ave 1040 Clouet St. Lamanche St Winthrop St 6232 Dauphine St. Tonti St 2453-55 Burgundy Street Pauger St 808 Delery St. 1815 Louisa St Whipple St 1129-31 Piety St 712 mandeville 912 poland 701 Tricou St. Music St Deers St Lizardi St 1200 Louisa St. Lesseps St Prieur St Florida Ave Andry St 3001 Royal St. Gordon St El Dorado St Japonica St Spain 3801 N. Roman St. Galvez St Laussat Pl Ideal Pl 1203 Delery St Sister St Benton St Rampart St Congress St Bartholomew St Montegut St Louisa St Kentucky St Saint Claude Ave Saint Claude Ct Gallier St 928 Clouet St 1028b Tricou St. 1216-18 clouet 1330-32 congress 4123 duphine Saint Claude Ave For Rent France St Burgundy St Chartres St 2458 N Robertson Music St Melrose St Saint Ferdinand St Mandeville St N.Claiborne Ave-Ferdinand Ave Reynes St Rampart St Tupelo St Mazant St Spain St Arts St LAW ST Dubreuil St 1314 Elysian Fields Ave Industrial Ct 1032-34 Bartholomew St Robertson Martinique Aly Todd St ESPLANADE AVE Peters St Urquhart St 3001 Royal Street Alvar St Urville St Dubreuil St Royal St

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