The Home Buyer's Korner

Information presented should be used for educational purposes only.

July 13th, 2016

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GREATER NEW ORLEANS, LOUISIANA

Gentilly

Franklin Ave/Gentilly Blvd 70122 Neighborhood

The Home Buyer’s Korner

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Mortgage Lender

General Contractor G+

BUILDING THE DREAM OF HOME OWNERSHIP

Jasmine St New Orleans LA 70122

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The median real estate price in the Franklin Ave/Gentilly Blvd (Gentilly – Edgewood Park) neighborhood of New Orleans, Louisiana is $174,725, which is more expensive than 74 percent of the neighborhoods in the state and over 50 percent of the neighborhoods in the country.

The average rental price in Franklin Ave/Gentilly Blvd is currently around $925 a month, and rents here are currently lower in price than almost 47 percent of all neighborhoods in Louisiana. Most of the residential real estate is occupied by a mixture of owners and renters.

Franklin Ave/Gentilly Blvd area is an urban neighborhood located in New Orleans, Louisiana, and the real estate is primarily made up of small studios to 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.  Many of the residences in the Franklin Ave/Gentilly Blvd neighborhood are older, well-established, built between 1909 and 1969, while a number of residences were built between 1970 and 1999.

Vacant homes or apartments are a fact of life in the Franklin Ave/Gentilly Blvd neighborhood and the current real estate vacancy rate here is over 25 percent. To understand more about this neighborhood’s vacancy rate and its effects 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 flavor, can make all the difference when choosing a neighborhood to call home.

Edgewood Park, located centrally between downtown New Orleans and Lake Ponchartrain, is an early twentieth century streetcar suburb, associated with the development of suburban housing in New Orleans throughout the first half of the twentieth century – the outward growth of the city, and our iconic streetcar system we have here in New Orleans. Many neighborhoods in the city may be considered early suburbs – Carrollton and Broadmoor are most certainly streetcar suburbs, while Pontchartrain Park and Lake Vista are commuter suburbs with curvilinear roadways and post-war ranch style homes.

Edgewood Park is a unique example that represents all three eras of suburban development, essentially encapsulating early twentieth century architectural features that embody the history of residential suburban development in New Orleans.

While the Edgewood Park plat is not in keeping with the more traditional layouts of later suburban types, its eclectic architectural styles provide evidence of its continued popularity.

The construction of two-tract driveways, detached garages, and the adaptation of traditional housing types to incorporate ground floor garages demonstrate Edgewood’s Park association with the automobile era of suburban development.

The later development of Piedmont, Clermont and Fairmont Drives, and the proliferation of mid-twentieth century architectural styles, as well as the reorientation of these avenues away from a walking oriented neighborhood exhibits Edgewood Park’s continuing significance as a post-war commuter suburb in New Orleans.

Edgewood Park’s period of significance, from 1909 to 1963, encompasses the full range of development of the neighborhood from the date of the original plat and the introduction of the streetcar into the Gentilly area, to the beginning of construction of I-10 through the southeastern edge of the neighborhood.

Single parenting is hard. But you don’t have to tell the Franklin Ave/Gentilly Blvd neighborhood about that; they already know with nearly 22 percent of this neighborhood’s households are run by single mothers. For those moms looking to get ahead, consider home ownership with the FNMA My Community MortgageFHAFHA 203K, or FNMA HomeStyle Renovation loan programs. These home financing tools could be one of the best things you could do for your family.

Your future neighbors in the Franklin Ave/Gentilly Blvd neighborhood of New Orleans earn modest incomes, and this neighborhood has an income lower than over 88 percent of all the neighborhoods nationwide.

In the Franklin Ave/Gentilly Blvd neighborhood, well over 36 percent of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with nearly 30 percent of the residents employed. Other residents here are employed in executive, management, and professional occupations almost 23 percent, and about 10 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/Gentilly Blvd neighborhood of New Orleans, Louisiana, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African at over 21 percent. There are also a number of people of German roots at more than two percent, and some of the residents are also of Cuban ancestry at two percent, along with some French ancestry residents nearly two percent, among others.

The most common language spoken in the Franklin Ave/Gentilly Blvd neighborhood is English, spoken by nearly 98 percent of households.

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Gentilly – Edgewood Park

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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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START YOUR PATH TO HOME OWNERSHIP TODAY

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70122 Gentilly – Edgewood Park

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