Mississippi – Overlook

mississippi_pizzaThis is one of the newest areas to come up in the metro area. The stretch of Mississippi between Fremont and Skidmore is where things are really happening. Pioneering entrepreneurs went in and turned this once forgotten neighborhood into a burgeoning pocket of Portland patchouli.

One of my favorite Portland eateries is Gravy, located near the corner of Mississippi and Shaver.  It’s a great place for breakfast, but if you don’t have time to wait for a table on the weekend, then head east on Shaver one block to the Equinox, which has outdoor seating and also has a great dinner menu. Mississippi Pizza (just north of Fremont) is a neighborhood mainstay featuring live entertainment and an arty atmosphere.

Rebuilding_CenterAcross the street, you’ll find the ReBuilding Center, which is a salvage center for recycling every aspect of a home (doors, windows, sinks, etc). Think great prices and rare finds! Another place worth mentioning is the Fresh Pot coffee house, also at Mississippi and Shaver. The Fresh Pot is so much the quintessential Portland coffee shop that it was featured in the recent Hollywood movie, “The Feast of Love” staring Morgan Freeman and Greg Kinnear.

TrainIf you take the Failing Street pedestrian bridge (2 blocks west  of Mississippi) over I-5, you will find Mississippi’s cousin, the Overlook neighborhood. Overlook’s single family homes will set you back a bit more than a comparable home in Mississippi, but this area lacks a cohesive (and fashionable) neighborhood center like Mississippi. It does have light rail line (along Interstate Ave.) which deposits riders downtown in under 10 minutes.

What to Expect in Property:

For the past couple of years, Mississippi has been a feeding ground for home rehabilitators. With recent market slow-downs, the flippers have quieted down. The neighborhood has both flipped properties as well as a lot of fixers for handy buyers who want a good deal and a property close to downtown.

KrakowThe condo market here is less developed. Condo conversions haven’t really hit this area like they have in other close-in areas. There are a couple of new condo projects in the works both on Mississippi and near by N Williams. Over in Overlook, there have been four projects in the last couple of years that offer great access to downtown and they do it at a great price.

Pricing:

The condo market in Mississippi isn’t yet developed enough to give you average prices. In this area you really need to consider each project individually. The average sale price for single-family homes in that past year was around $320,000. For the Overlook area, the average was around $350,000.