BEDS3
BATHS1 full
MLS#10195308
STATUSActive
PROPERTY TYPEResidential - Single Family
SUBDIVISIONMAGNOLIA TERRACE
Property Description
ATTENTION INVESTORS! Professionally managed in-house, Tenant-occupied, investment property generating $1,325/month in rental income with a 5.76% cash-on-cash return and a monthly cash flow of $243.47. Financials available upon request. This low-maintenance asset has undergone significant capital improvements, including a new HVAC system, new roof with replaced decking, renovated kitchen, full interior paint, updated electrical fixtures and outlets, plumbing upgrades, and enhanced safety features. Major systems have been addressed, helping reduce near-term maintenance and capital expenditure risk. A stabilized, income-producing property with strong long-term rental appeal and immediate cash flow from day one. No wholesalers, assignments, or creative financing. TENANTED PROPERTY: DO NOT APPROACH OR DISTURB TENANTS, NO SHOWINGS WITHOUT AN ACCEPTED OFFER. Leased through 6/2/2028 at $1,325/month. Owner/Agent
Property Features
Property Type: Residential - Single Family
Cooling: Central
Fenced: Yes
Heating: Central
Home Style: Traditional
Lot Size: 0.14 Acres
Year Built: 1927
Feature Descriptions
Days on Site: 259
Exterior: Porch, Deck, Other (See REMARKS)
Exterior/ Windows: Brick Veneer, Other (See Remarks)
Floors/ Ceilings: Other (See REMARKS), Vinyl/Luxury Vinyl Floor
Lot: Some Trees, Wood Fenced
Parking/ Storage: Driveway/Pad, Other (See REMARKS)
Total Rooms: 6
Listed By / Shown By
Listed By
Agency Name: Foundation Property Management
Shown By
Agent Name: Destin Westmoreland
Agent Phone: (662) 253-0808
Agency Title: Local Agency Realty Group
Estimate Your Payment
Estimated Payment
$ 1,057.91 per month $1,006.32 Principal & Interest $0.00 Property Tax (data not provided by mls) $51.60 Homeowner's Insurance
1589 E Mclemore Ave | MLS# 10195308
This single family home located at 1589 E Mclemore Ave, Memphis, TN 38106 is currently listed for sale with an asking price of $176,900. This property was built in 1927 and has 3 bedrooms and 1 full baths. E Mclemore Ave is located in the MAGNOLIA TERRACE subdivision. Search MAGNOLIA TERRACE real estate on destin.localagencyrealty.com today.