The Home Buyer's Korner

Information presented should be used for educational purposes only.

September 16th, 2015

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CREATING THE DREAM OF HOME OWNERSHIP

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N Mclean Blvd/N Pkwy Neighborhood

Memphis, Tennessee 

N Mclean Blvd

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N Mclean Blvd/N Pkwy area median real estate price is $275,073, which is more expensive than 92.5 percent of the neighborhoods in Tennessee and 70.8 percent of the neighborhoods in the U.S.

The average rental price in N Mclean Blvd/N Pkwy is currently $805, and the average rental cost in this neighborhood is higher than 75.6 percent of the neighborhoods in Tennessee.

N Mclean Blvd/N Pky is an urban neighborhood located in Memphis, Tennessee, primarily made up of small studio to two bedroom to medium sized three or four bedroom single-family homes, Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the N Mclean Blvd/N Pkwy neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier, with a number of residences  between 1940 and 1969.

Real estate vacancies in N Mclean Blvd / N Pkwy are 5.5 percent, which is lower than one will find in 73.1 percent of American neighborhoods. Demand for real estate in N Mclean Blvd/N Pky is above average for the U.S., and signals demand for either price increases or new construction of residential homes.

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways.

In a nation where 1 out of every 4 children lives in poverty, the N Mclean Blvd / N Pkwy neighborhood stands out as being ranked among the lowest 0.1 percent of neighborhoods affected by this global issue.

One of the really interesting characteristics about the N Mclean Blvd / N Pkwy neighborhood is that it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you’ll notice that the excitement here fluctuates with the college seasons. Despite the excitement, however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 1.1 percent of college-friendly places to live in the state of Tennessee. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for highly educated executives and urban sophisticates.

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 N Mclean Blvd/N Pkwy neighborhood, where 31.8 percent have earned an advanced degree. Compare that to the average neighborhood in America, where just 8.4 percent of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 95.8 percent of the neighborhoods in America.

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 74.7 percent of the residential real estate in the N Mclean Blvd / N Pkwy neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 98.7 percent of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Your future neighbors in the N Mclean Blvd/N Pkwy neighborhood of Memphis enjoy upper-middle class incomes, and this neighborhood has a higher income than 66.2 percent of the neighborhoods in America.

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

In the N Mclean Blvd/N Pkwy neighborhood, 56.4 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 21.8 percent of the residents employed. Other residents here are employed in manufacturing and laborer occupations at 15.5 percent, and 6.3 percent in clerical, assistant, and tech support occupations.

Culture is shared and learned 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 learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the N Mclean Blvd/N Pky neighborhood of Memphis, TN, residents most commonly identify their ethnicity or ancestry as German at 10.4 percent. There are also a number of people of English ancestry at 9.2 percent, and residents who report Irish roots at 8.0 percent. Some of the residents are also of Scots-Irish ancestry at 4.7 percent, along with some Asian ancestry residents at 3.3 percent and 1.1 percent have Eastern European ancestry, among others.

The most common language spoken in the N Mclean Blvd / N Pkwy neighborhood is English, spoken by 93.5 percent of households, followed by Vietnamese, which is spoken by 3.1 percent of households.

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TENNESSEE 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

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

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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