The Home Buyer's Korner

Information presented should be used for educational purposes only.

July 6th, 2016

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GREATER NEW ORLEANS, LOUISIANA

Milneburg

Franklin Ave/Leon C Simon Dr 70122 Neighborhood

The Home Buyer’s Korner

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BUILDING THE DREAM OF HOME OWNERSHIP

Frankfort St New Orleans LA 70122

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The median real estate price in the Franklin Ave/Leon C Simon Dr (Milneburg) neighborhood of New Orleans, Louisiana is $141,200, and more expensive than 53 percent of the neighborhoods in the state and nearly 38 percent of the neighborhoods in the country.

The average rental price in the Franklin Ave/Leon C Simon Dr (Milneburg) neighborhood is currently $1,1,00 a month, and the average rental cost in this neighborhood is higher than 75 percent of the neighborhoods in Louisiana. Most of the residential real estate is occupied by a mixture of owners and renters.

Franklin Ave/Leon C Simon Dr (Milneburg) area is an urban neighborhood located in New Orleans, Louisiana, and 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. Many of the residences in the Franklin Ave/Leon C Simon Dr (Milneburg) neighborhood are older, well-established, built between 1940 and 1969, while a number of residences were also built between 2000 to present day.

Vacant homes or apartments are a fact of life in the Franklin Ave/Leon C Simon Dr (Milneburg) neighborhood, and the current real estate vacancy rate here is nearly 23 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.

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular flair. One might notice whether the buildings all date from a certain time period or a host of other features that attract your vision.

The Franklin Ave/Leon C Simon Dr (Milneburg) neighborhood stands out for being a college student friendly area. The neighborhood is home to a many college students. This neighborhood is close to several centers of higher education may and offer certain amenities nearby geared towards the student body. While it’s not an environment for everyone, ambitious scholars can enjoy the seasonal excitement between semesters and school breaks. 

Your future neighbors in the Franklin Ave/Leon C Simon Dr (Milneburg) neighborhood of New Orleans earn modest incomes, and this neighborhood has an income lower than 88 percent of all neighborhoods nationwide.

What we choose to do for a living reflects who we are and each neighborhood has a different mix of occupations represented. Together, they tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Franklin Ave/Leon C Simon Dr (Milneburg) neighborhood, 35 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 clerical, assistant, and tech support occupations, with over 24 percent of the residents employed. Other residents here are employed in manufacturing and laborer occupations at more than 23 percent, and almost 18 percent in executive, management, and professional occupations.

Culture is shared learning behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture, our learned behavior, comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand. Places with concentrations of people of one or more ancestry often express those shared learning behaviors and this gives each neighborhood its own culture.

In the Franklin Ave/Leon C Simon Dr (Milneburg) neighborhood of New Orleans, Louisiana, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African at over 21 percent, and residents who report Jamaican roots at almost three percent. Some of the residents are also of French ancestry at over two percent, along with some Iranian ancestry residents at nearly two percent, among others.

The most common language spoken in the Franklin Ave/Leon C Simon Dr (Milneburg) neighborhood is English, and spoken by over 95 percent of households, while nearly three percent speak 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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START YOUR PATH TO HOME OWNERSHIP TODAY

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70122 Milneburg

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