232 S Highland St APT 409MemphisTN38111
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 232 S Highland St APT 409, Memphis, TN, 38111 offers a 9.82% rental yield on a $179,000 purchase with $1,465/mo rent. Total monthly income registers $1,465/mo, and a $876/mo payment leaves $394/mo available for distribution. Annual cash flow reaches $4,723/yr on $59,339 to close, and return on cash invested stands at 27.87% in year one. Equity gained on principal adds $1,155/yr while 5% annual appreciation supports $49,454 over five years. Portfolio math shows five-year ROI at 145.27% and total cumulative return in cash at $86,199. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,465/mo property income against a $876/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1969
2.68 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 38111, Memphis, TN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,908 (100%) |
| Owner Occupied HU | 7,870 (39.5%) |
| Renter Occupied HU | 9,606 (48.3%) |
| Vacant Housing Units | 2,432 (12.2%) |
| Median Home Value | $250,414 |
| Average Home Value | $333,005 |
Housing Distribution
Address Breakdown
Residential
18,972
Single Family
15,015
Multi-Family
3,957
Businesses
1,101
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices