How is the Park City area? (Memphis, Knoxville: real estate, renters, insurance) - Tennessee (TN) - City-Data Forum

rockabillygal · 08-28-2008, 12:14 PM

We are looking at a house in the park city area of knoxville just a couple blocks from the highschool and would like to know what everyone thinks of the area. We are moving up from Florida like so many others it seems. We have family all over TN and really like the idea of being in the city. The house is on Linden Ave. The houses all look well kept and charming most brick and very european looking..... also the price is right. We have been looking at renting out in a more rural area some where I can bring my horses and keep them at our place but have not had any luck with houses in in our price range. This house is cheap enough to afford full board for my horse as well as a lovely home security system if needed.

hiknapster · 08-28-2008, 12:37 PM

Quote:

Originally Posted by rockabillygal

We are looking at a house in the park city area of knoxville just a couple blocks from the highschool and would like to know what everyone thinks of the area. We are moving up from Florida like so many others it seems. We have family all over TN and really like the idea of being in the city.

I wouldn't call it "desirable" in any way. I would suggest that you look elsewhere.

hiknapster · 08-28-2008, 02:29 PM

Sorry about the brief message. I was at work, but didn't want you to waste your time with a bad area. The average cost of a house in that area is about $60,000.

There are lots of great areas to live, but you are going to have to pay a bit more for something that is safer.

There are some absolutely lovely homes in that area. It use to be THE place to live in Knoxville. There has been some rehab there, I think. It would be WONDERFUL if people would start gentrifying the area. That would be a dream come true.

Maybe it is for you?

It looks like Weisgarber tried to respond. Maybe he was at work, too?

JMT · 08-28-2008, 03:08 PM

I agree with hik, the Park City area is not the most desirable part of town. When people refer to "dangerous East Knoxville" that's precisely the area they're referring to. You'd be within easy walking distance of Austin-East HS but also several large public housing projects that have had more than their share of shootings and vandalism.

Having said that, you should understand that Knoxville's "inner city" is NOTHING like inner cities in places like Atlanta, Birmingham, Memphis, Jacksonville, Miami, or Tampa. I once took a friend from Memphis through the Park City neighborhood in Knoxville, and she thought I was lying when I said that was probably Knoxville's most dangerous part of town.

But if you're not particularly tied to Austin-East HS, there are several other in-town neighborhoods within walking distance of other high schools that you might want to consider, in particular the areas around Fulton HS. I live about a mile from Fulton HS, and my neighborhood is very safe and very reasonably priced (I paid only $70k for my house 2 years ago).

rockabillygal · 08-28-2008, 03:59 PM

Thank you all! We have decided to keep looking. No we are not tied to being near a highschool or any school for that matter. We are bothj in our early/mid 20s and do not have children yet though we hope too in the next few years. I did find a cute looking place off the other side of Magnolia a little closer in to down town. It looks like a nicer area and the houses are a bit bigger. Its near 5th and Olive?

hiknapster · 08-28-2008, 04:21 PM

I just checked out those three homes on the internet. All three of them say investment property. That is code for "you don't want to live here."

Is your budget only allowing a $59,000 home? Have you been pre-qualified? You can probably buy a better home than you think.

Remember, you get what you pay for. If anything were to happen, you need to be able to sell that house, make your money back and possibly plus some, and cut and run.

I just bought a house and I was very much aware of this. I constantly factor in the worst-case scenario and I wouldn't want a house like that. It could be a stinker that you can't unload. All of those homes need a lot of work.

I paid $119,000 for our house, which is about $20,000 less than it is worth. The payment has been pretty easy to make.

rockabillygal · 08-28-2008, 04:55 PM

Unfourtunatly that will really be about what we can afford. We can not go over 100,000 over 80 would be a stretch. We have a new car payment and my horses upkeep to make a priority. Right now our rent and utilities is around 625. Factoring in moving costs, taxes, auto insurance (im still on my parents plan), buying new appliances, and board for two horses (board for both would cost as much or more than our rent) we just wouldn't be able to handle more at least not as comfortably as we would like If we buy Cheap we can have enough of an emergancy fund to stick it out if something happened.

Honestly The areas and places don't look or sound all that bad. Well the last house looks like it will need some work but it depends on how exstensive.... For a bigger city its not near as bad as it could be. Looks better that alot of places around here.

We will not buy a trailer or manufactured home and If we are going to pay any more that 80 we want at least an acre or two to keep the horses at home.

I guess its back to looking for a nice place to rent. Oh well....

hiknapster · 08-28-2008, 05:22 PM

We're from Florida, too.

Here's what I would do. I'd get a piece of property close to Knoxville, but with room for your horses. You can find something like that for $100,000. I'm not a real estate agent, but I looked at a lot of property for a couple of years. It's doable. This is a great time to buy a house. No down, if you want. FHA-backed. You even get a $7,500 from the feds next year, if you buy a house now. It has to be paid back, but no interest and you can take five years. I'm going to make good use of it.

creeksitter · 08-28-2008, 08:26 PM

Rockabilly, I own a rental property on 5th ave and have seen a huge improvement in the last 2-3 years. Not perfect by any means but the neighborhood is getting organized and the city/ plice department is finally starting to pay attention. You might look up Parkridge community organization on the internet.

Here's an interesting tidbit: I tend to rent to starving student/starving artist types. A lot of times the guys will get a girlfriend and then they move together to somewhere that the girl feels safe. Well this week it was the girlfriend who moved in! Not to say I haven't had female renters over the years but they tend to be braver than what's typical.

Like most urban neighborhoods the safety varies from block to block. It's always good to talk to the neighbors. But like you say, for the money you save you can get a good alarm system.

knoxgarden · 08-28-2008, 09:47 PM

Edgewood-Park City has gotten an historic district designation
Knoxville-Knox County MPC: Historic Preservation
And has an active community group
Parkridge Community (http://www.parkridgecommunity.org/Parkridge/ParkridgeCommunity/tabid/2609/language/en-US/Default.aspx - broken link)
There are some wonderful homes out that way and the area is definitely on the way up. There may be funds or low/no interest loans available for rehabbing houses.
There are some truly beautiful homes over there.