2238 Washington 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 2238 Washington Ave, Memphis, TN, 38104 offers $3,298/mo rent that, after a $2,188/mo payment, leaves $330/mo cash flow. Total monthly income is $3,298/mo, and annual cash flow is $3,964/yr on $148,181 cash. Return on cash invested measures 22.58% in year one, and rental yield stands at 8.85% at a $447,000 entry. Equity gained on principal adds $2,884/yr while 5% annual appreciation compounds into $123,498 by year five. Five-year ROI records 117.8% and total cumulative return in cash reaches $174,552. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,298/mo property income versus a $2,188/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1939
9,583 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: Margaret E Mikkelsen • Marx-Bensdorf, REALTORS
Mls Name: MAAR
Mls Provider:
Mls ID: #10203524
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