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That area is in the Memphis annexation reserve and has started to decline somewhat because of that. It is still county at the moment and uses Bartlett (Shelby County) schools, but it could be annexed at any time and then you would be in a not very good city school district (Craigmont). I have a friend who lives over in that area, and according to him, that neighborhood is still okay (although there are an increasing number of burglaries), but the one just north of it (at the intersection of New Brownsville and St. Elmo) is not good at all and it is really close to where you are looking.
There was a robbery by a group at Bartlett (Nesbit) Park a couple of weeks ago, and the news report said there was some gang issues involved. Two of the group were adults, and one lived in that area near St. Elmo and New Brownsville (the other one lived not too far from there, but closer to Covington Pike and Stage in Memphis). I'm guessing the others also lived in the general area as they had walked to the park from the neighborhoods in the Memphis and Memphis annexation reserve areas off New Brownsville.
If it is all you can afford, this area would be better than lots of other parts of Memphis (but also worse that lots of other parts of Memphis). However, if you can afford a little more (in the $120,000 range) there are lots of options in the Bartlett City limits in older, established neighborhoods. You might still be close (though not as close) to this area above, but you will be much better served by the Bartlett Police Department and Bartlett government with their aggressive efforts to keep crime and blight out of Bartlett.
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