2303 Saint Elmo AveMemphisTN38127
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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 2303 Saint Elmo Ave, Memphis, TN, 38127 uses $38,089 cash to close to unlock $2,431/yr annual cash flow and $203/mo monthly cash flow. Total monthly income runs $890/mo, and a $562/mo payment keeps the spread at $203/mo. Purchase price stands at $114,900, and rental yield measures 9.3% with $890/mo rent. Return on cash invested shows 26.29% in year one, and 5% annual appreciation builds toward $31,745 over five years. Five-year ROI reaches 136.83% and total cumulative return in cash records $52,118. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $890/mo property income covering a $562/mo payment rather than investor’s personal income.
Single Family
Built in 1959
0.28 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 38127, Memphis, TN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,392 (100%) |
| Owner Occupied HU | 6,346 (38.7%) |
| Renter Occupied HU | 8,062 (49.2%) |
| Vacant Housing Units | 1,984 (12.1%) |
| Median Home Value | $78,914 |
| Average Home Value | $157,125 |
Housing Distribution
Address Breakdown
Residential
15,818
Single Family
14,667
Multi-Family
1,151
Businesses
610
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