Gramercy, Louisiana is a small town located in St. James Parish, and like any town, there are some pros and cons to purchasing real estate there. Here are a few things to consider:

Pros:
- Affordability: Compared to other towns/cities in Louisiana, Gramercy may have lower real estate prices, which can be advantageous for those looking for a cheaper cost of living.
- Community: Gramercy is a small town, so you may experience a tight-knit community and get to know your neighbors well.
- Local amenities: The town does have a few local businesses such as grocery stores, restaurants, and other conveniences.

Cons:
- Limited job opportunities: If you're looking for work, there may not be many job opportunities in the town, and you may have to commute to larger towns/cities for employment.
- Some safety concerns: While the crime rate isn't extremely high, it's not comparatively low either. It's worth looking into crime statistics if safety is important to you.
- Flooding: Being located near the Mississippi river, flooding may be a concern for some neighborhoods in Gramercy.

It's important to do a lot of research and determine whether or not Gramercy is the right place for you based on your individual circumstances and preferences.