1993 Elzey AveMemphisTN38104
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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
Rental property for sale in Memphis at 1993 Elzey Ave, Memphis, TN, 38104 priced at $465,000 converts $2,411/mo rent into after a $2,276/mo obligation. Total monthly income equals $2,411/mo. Return on cash invested prints 15.39% in year one, and rental yield reads 6.22% against a $465,000 entry. Equity gained on principal adds $3,001/yr, while 5% annual appreciation compiles into $128,471 by year five. Five-year ROI reaches 78.98% and total cumulative return in cash sums $121,739. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,411/mo property income covering a $2,276/mo payment, not borrower’s personal income.
Single Family
Built in 2009
3,484 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 38104, Memphis, TN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,722 (100%) |
| Owner Occupied HU | 4,353 (29.6%) |
| Renter Occupied HU | 8,693 (59.0%) |
| Vacant Housing Units | 1,676 (11.4%) |
| Median Home Value | $394,317 |
| Average Home Value | $423,901 |
Housing Distribution
Address Breakdown
Residential
14,079
Single Family
7,526
Multi-Family
6,553
Businesses
1,259
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Listed by: Sally Isom • Coldwell Banker Collins-Maury
Mls Name: MAAR
Mls Provider:
Mls ID: #10195032
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