3320 Carnes AveMemphisTN38111
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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 3320 Carnes Ave, Memphis, TN, 38111 uses $57,979 cash to close to unlock $2,461/yr annual cash flow and $205/mo monthly cash flow. Total monthly income runs $1,252/mo, and a $856/mo payment keeps the spread at $205/mo. Purchase price stands at $174,900, and rental yield measures 8.59% with $1,252/mo rent. Return on cash invested shows 24.15% in year one, and 5% annual appreciation builds toward $48,322 over five years. Five-year ROI reaches 125.42% and total cumulative return in cash records $72,720. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,252/mo property income covering a $856/mo payment rather than investor’s personal income.
Single Family
Built in 1945
10,018 sqft 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
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