Best bang for your buck housing? (Memphis, Bartlett: for sale, rentals, condos)

[abc2330]

I'm originally from the area, spent two years in Nashville, and now I'm back. I feel like I have more power as a buyer/renter than I did in that city, and I'm looking put myself in the best position, economically speaking.

I haven't secured a job, but I'm close and the market seems good. I do love downtown and midtown, but I also enjoy seclusion and fewer noise restraints of a house as well. I'm looking at $150k or less if buying, and $1k or less if renting. Just a relatively safe neighborhood close to basic grocery providers are my needs. I have no problem living in any part of the city, as traffic is pretty easy to work around.

[Comingtomemphis]

Welcome back to Memphis. With a 150K purchase budget, you won't find any SFR Downtown, and very little in the way of condos, except some studios. The same is probably true of rentals for under $1K. Most 1BRs and even the better studios Downtown are now over $1K.

You will do better in Midtown, especially in the outlying areas. Even then, a $150K budget will be tight for a SFR. Your best bet is to check the websites like Realtor.com and Zillow. That will give you a good idea of which areas fit within your budget. Are you willing to take on a fixer-upper? You might also look for Fannie Mae properties, many of which need some work, but which could get you more bang for you buck long term.

Good luck.

[CristenS]

Your numbers are too low for downtown (unless you could find a very tiny low end condo, but I would never recommend purchasing something like that), and too low for anything "fresh and updated" in midtown. You could buy a fixer in midtown for that price - but like you mentioned, midtown especially at lower prices, isn't quiet. The lower end homes tend to be very close together, have a lot of rentals, and generally be in noisier areas. Plus anything that low in midtown that needs fixing will get snatched up in all-cash deals by investors.

There are some homes in the NW part of midtown, around the Crosstown area, but I wouldn't call that area "safe" and I'm not sure how Crosstown is going to pan out in terms of improving safety anytime soon.


For $150k or less, you could look in the Sea Isle area. Small 2 or 3 bed homes, 1 bath, not the fanciest of homes but you could get something move in ready for that price. I really think that area is improving a lot - I see homes being renovated, and as midtown gets more and more expensive, I think it's going to be one of the next big areas for people to take over (like a new Highpoint).

[Jardine8]

Originally Posted by CristenS

Your numbers are too low for downtown (unless you could find a very tiny low end condo, but I would never recommend purchasing something like that), and too low for anything "fresh and updated" in midtown. You could buy a fixer in midtown for that price - but like you mentioned, midtown especially at lower prices, isn't quiet. The lower end homes tend to be very close together, have a lot of rentals, and generally be in noisier areas. Plus anything that low in midtown that needs fixing will get snatched up in all-cash deals by investors.

There are some homes in the NW part of midtown, around the Crosstown area, but I wouldn't call that area "safe" and I'm not sure how Crosstown is going to pan out in terms of improving safety anytime soon.


For $150k or less, you could look in the Sea Isle area. Small 2 or 3 bed homes, 1 bath, not the fanciest of homes but you could get something move in ready for that price. I really think that area is improving a lot - I see homes being renovated, and as midtown gets more and more expensive, I think it's going to be one of the next big areas for people to take over (like a new Highpoint).

I would also suggest maybe looking in the Perkins Terrace area too, which is not too far from Sea Isle. He needs to find a really good realtor, as a good realtor can do a much better job of steering him or her to houses in specific neighborhoods.

[CristenS]

Here are some examples around Sea Isle - lots for sale in that part of town, I think that's a good thing. New people will buy and invest money into the homes.


5230 Edenshire Ave, Memphis, TN 38117 - realtor.com®


1127 Wheaton Dr, Memphis, TN 38117 - realtor.com®


1195 Wellsville Rd, Memphis, TN 38117 - realtor.com®


5083 Newcastle Ave, Memphis, TN 38117 - realtor.com®


4915 Parkside Ave, Memphis, TN 38117 - realtor.com®


5253 Sea Isle Rd, Memphis, TN 38117 - realtor.com®




Here are a few homes in the NE part of town, in the White Station/Richland area. Always a good area of town because of the schools. I'm actually surprised to see a fair number of homes in that area at low prices - although I didn't look through the photos so some may need renovations.


422 Mineral Rd, Memphis, TN 38120 - realtor.com®


5510 Melvin Dr, Memphis, TN 38120 - realtor.com®


4949 Chickasaw Ave, Memphis, TN 38117 - realtor.com®


5001 Princeton Rd, Memphis, TN 38117 - realtor.com®



And, you could possibly get into High Point at that price too....


3903 Grahamwood Cv, Memphis, TN 38122 - realtor.com®


3692 Kenwood Ave, Memphis, TN 38122 - realtor.com®

[abc2330]

I apologize, as I think my original post was misleading. I definitely know that budget won't cut it downtown or midtown, and would need to be increased in order for that to happen, which is why I was looking for some areas which may be a better value (I'd be working somewhere near Cordova, and just going to downtown/midtown on the occasional weekend trip). It could be anywhere in the city, really.

[CristenS]

I think you were pretty clear - I listed houses in High Point, Sea Isle, and White Station. Not midtown, but still in the city and not suburban. I can't think of any other areas in Memphis that are in your price range but also generally safe.

[dc1538]

Originally Posted by CristenS

I think you were pretty clear - I listed houses in High Point, Sea Isle, and White Station. Not midtown, but still in the city and not suburban. I can't think of any other areas in Memphis that are in your price range but also generally safe.

Maybe Cordova?

Unless the OP considers that the suburbs. Most of it, is apart of the city of Memphis. Also there have been no murders in the Cordova zip codes this year. I would consider it relatively safe.

[eastmemphisguy]

Safe and near groceries could be many places. East Memphis is a huge swath of territory. So is Cordova. Bartlett is an option for you as well. If you are looking for most sq feet per dollar, it's probably Cordova. I like East Memphis because it's centrally located. Dollars in East Mem go further South of Poplar.

[abc2330]

Originally Posted by eastmemphisguy

Safe and near groceries could be many places. East Memphis is a huge swath of territory. So is Cordova. Bartlett is an option for you as well. If you are looking for most sq feet per dollar, it's probably Cordova. I like East Memphis because it's centrally located. Dollars in East Mem go further South of Poplar.

Thanks for all of the advice. I've consulted the Hoods of Memphis legend-how accurate would you say this is? East Memphis seems to be in the clear, though it's close to some rough areas per the legend. I just wanted to know a safe distance to be from these places, as I'm finding good properties both there and in Cordova.

I'm no prude, I just have a dog that I must take into consideration, which is why i am taking safety into account.