505 Tennessee St APT 407MemphisTN38103
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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 505 Tennessee St APT 407, Memphis, TN, 38103 offers a 10.94% rental yield on a $200,000 purchase with $1,824/mo rent. Total monthly income registers $1,824/mo, and a $979/mo payment leaves $627/mo available for distribution. Annual cash flow reaches $7,520/yr on $66,300 to close, and return on cash invested stands at 31.25% in year one. Equity gained on principal adds $1,291/yr while 5% annual appreciation supports $55,256 over five years. Portfolio math shows five-year ROI at 163.41% and total cumulative return in cash at $108,344. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,824/mo property income against a $979/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1909
435.60 sqft 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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