717 S Riverside Dr #1305MemphisTN38103
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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
Rental property for sale in Memphis at 717 S Riverside Dr #1305, Memphis, TN, 38103 generates $2,934/mo in rent, after a $3,079/mo payment. Total monthly income is $2,934/mo. Return on cash invested sits at 15.24% in year one, and rental yield is 5.6% on a $629,000 entry. Equity gained on principal adds $4,059/yr, while 5% annual appreciation builds toward $173,781 over five years. Five-year ROI reaches 77.5% and total cumulative return in cash sums $160,389. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,934/mo property income rather than buyer’s personal income.
Condo
Built in 2015
1,742 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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