1960 Parkway Ave #1208MemphisTN38112
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Memphis at 1960 Parkway Ave #1208, Memphis, TN, 38112 uses $59,670 cash to close to unlock $6,090/yr annual cash flow and $508/mo monthly cash flow. Total monthly income runs $1,585/mo, and a $881/mo payment keeps the spread at $508/mo. Purchase price stands at $180,000, and rental yield measures 10.57% with $1,585/mo rent. Return on cash invested shows 30.12% in year one, and 5% annual appreciation builds toward $49,731 over five years. Five-year ROI reaches 157.33% and total cumulative return in cash records $93,881. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,585/mo property income covering a $881/mo payment rather than investor’s personal income.
Condo
Built in 1963
2.78 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 38112, Memphis, TN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,403 (100%) |
| Owner Occupied HU | 3,067 (36.5%) |
| Renter Occupied HU | 3,988 (47.5%) |
| Vacant Housing Units | 1,348 (16.0%) |
| Median Home Value | $268,994 |
| Average Home Value | $310,390 |
Housing Distribution
Address Breakdown
Residential
7,468
Single Family
6,245
Multi-Family
1,223
Businesses
653
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