380 N Island Dr APT 314MemphisTN38103
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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 380 N Island Dr APT 314, Memphis, TN, 38103 earns $323/mo cash flow from $2,418/mo rent with a $1,713/mo payment. Total monthly income totals $2,418/mo, and annual cash flow totals $3,875/yr on $116,025 capital. ROI tracks 23.25% on current figures, and rental yield reads 8.29% at a $350,000 purchase. Equity gained on principal adds $2,258/yr, and 5% annual appreciation supports $96,699 over five years. Five-year ROI reaches 120.48% and total cumulative return in cash sums $139,790. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,418/mo property income instead of your personal income.
Condo
Built in 2007
1.53 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 38103, Memphis, TN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,124 (100%) |
| Owner Occupied HU | 2,373 (23.4%) |
| Renter Occupied HU | 6,505 (64.3%) |
| Vacant Housing Units | 1,246 (12.3%) |
| Median Home Value | $427,630 |
| Average Home Value | $459,256 |
Housing Distribution
Address Breakdown
Residential
10,083
Single Family
2,475
Multi-Family
7,608
Businesses
1,352
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