Best First Time Buyer Neighborhoods Part 2: 38117

Dated: March 23 2021

Views: 340

Want to purchase your first home in East Memphis but don't know where to look? 38117 is one of the best zip codes in all of Memphis with ample opportunity for first time buyers, move up buyers, and high end/luxury buyers!

Here are the best neighborhoods:

1. Anns Acres - 5 Sales since 2019 with an average price of $205,000, a low of $170,000, and a high of $259,000. The average price per square foot is around $140. It is a small neighborhood with about 75 homes centrally located off of Sanderlin and Mendenhall near the Sanderlin Centre with great date night restaurants like Napa Cafe and City Silo.

(Click picture to view sold properties)

2. Chandler and Chandler - 18 sales since 2019 with an average price of $199,000, a low of $115,000, and a high of $260,000; the average price per square foot is $156. Many of the homes in Chandler and Chandler have already been updated, giving buyers the opportunity to purchase an awesome move in ready home! The neighborhood is located off of N Mendenhall near Chickasaw Rd. (Click picture to view sold properties)

chandler and chandler memphis sold properties 38117

3. Colonial Acres - 704 sales since 2019 with an average price of $173,000, a high of $300,000, and a low of $100,000 at an average price per square foot of $125. If you are looking for a great neighborhood as a younger couple, Colonial Acres is for you. With over 700 sales since 2019, affordable homes are consistently hitting the market in this neighborhood. Many of the homes have already been or are being updated, tons of younger couples/families live here, and Sea Isle Park is an awesome park with tons of green space located right in the neighborhood! (Click picture to view sold properties)

colonial acres sold properties memphis 38117

4. Dartmoor - 6 sales since 2019 with an average price of $230,000, a high of $300,000, and a low of $160,000 at an average price per square ft of $151. Dartmoor is another small neighborhood with about 75 homes. Although homes in this neighborhood typically have a high price per square foot, most of them are 100% updated and move in ready! Located near the Shelby Farms Greenline off of Waring Rd. (Click picture to view sold properties)

dartmoor sold properties memphis best neighborhood 38117

5. Harding - 18 sales since 2019 with an average price of $249,000, a high of $287,000, and a low of $195,000 at an average price per square foot of $111. Located near Colonial Acres and Harding Academy off of Cherry Rd and Park.(Click picture to view sold properties)

harding sold properties memphis best neighborhoods 38117

6. Hilldale Gardens - 13 sales since 2019 with an average price of $240,000, a high of $300,000, a low of $192,000, and an average price per square ft of $143. Located near the Shelby Farms Greenline off N Graham in East Memphis.(Click picture to view sold properties)

hilldale gardens affordable memphis homes memphis best neighborhood 38117 sold properties

7. Magnolia Park - 10 sales since 2019 with an average price of $280,000, low of $192,000, and high of $300,000 and an average price per square ft right around $155. Located directly adjacent to Hilldale Gardens. (Click picture to view sold homes)

magnolia park affordable homes in memphis best neighborhood 38117 sold properties

8. Mendenhall Acres - 13 sales since 2019 with an average price of $240,000, low of $172,000, and a high price of $285,000 with an average price per square foot of $174. Located off of N Mendenhall near Barfield Rd. (click picture to view sold homes)

mendenhall acres affordable homes in memphis best neighborhood 38117 sold properties

9. Newton Court - 8 sales since 2019 with an average price of $275,000, low of $245,000, and a high price of $300,000 with an average price per square foot of $115. Many of you probably haven't heard of the Newton Court neighborhood, but it is an absolute gem. It's a 60 lot gated neighborhood near 385 at the corner of Quince and White Station. The fact you can find a home in a NICE gated neighborhood for under $300,000 is phenomenal and the HOA is only $1,000 per year ($250 paid quarterly). (click picture to view sold homes)

newton court affordable homes in memphis best gated neighborhood sold properties 38117

10. Normandy Meadows - 76 sales since 2019 with an average price of $249,000, low price of $140,000, and a high of $300,000 and an average price per square foot of $157. Besides Colonial Acres, Normandy Meadows has the most opportunity for a first time home buyer to find an awesome, updated, move-in ready home in East Memphis for under $300,000. Situated near Walnut Grove and White Station, Normandy Meadows is 20 minutes or less from everything in Memphis, Germantown, Collierville, or Lakeland and Arlington. It is within walking distance of White Station Middle School and Richland Elementary School making it the perfect neighborhood for a family with kids!

normandy meadows affordable homes memphis 38117 sold properties

If you are interested in buying or selling a home and want to work with me, click here. To view homes available in 38117 click here. Have a great day and happy house hunting!

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William Flowers

I have grown up in the Memphis area for the majority of my life and grew up going to Germantown Baptist Church as a kid. My relationship with Christ has given me a deep desire to help my community and....

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