3256 Sweet Springs Dr, Memphis, TN 38128

3 beds2 baths1,255 sqft Edit

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Sold: $49,900
Sold on 09/18/14
Zestimate®: $46,273
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A Zestimate® home valuation is Zillow's estimated market value. It is not an appraisal. Use it as a starting point to determine a home's value. Learn more

My Notes

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Property Taxes: $1249
Current Rent: $695
( Renter in place, cash flowing! Do not contact renter, please. )

This is a great cash flowing rental property, that has been purchased from Midsouth Home Buyers.Terry Kerr and his folks, " Mid South Best Rentals " manage this property. I am forced to sell this great cash flowing property.When purchased about two years ago, this had been done;
This home has been completely renovated and features new Ferrell Calhoun painted exterior, allnew interior paint including ceiling, walls, and trim, new ADT Security System, new All Weatherstorm doors, new Kwickset " easy re-key" door hardware, new Owens-Corning 30 year roof, allnew high-traffic stain resistant carpet and pad, Rip Stop linoleum in kitchen & bath, new baseboardand trim, all new bathroom including vanity, faucet, re-glazed tub, new medicine cabinet, etc.,plumbing updates, new and/or refinished cabinets, counter tops, sink, & faucet, new laundry hookups, all new interior door hardware, new light fixtures throughout interior and exterior, newelectrical outlets, switches and plates, all new window treatments, and more.
This has been a great cash flowing rental property.Excellent investment, get it while interest rates are LOW !

* Wall Street Journal in 2013 states "Investors Find Rich Pickings-Memphis #1 "*A very stable Memphis Tenessee saw only a 3% dropped during the 2008 real estate crash, I know many places wish that was all they saw !*Memphis has almost no depreciation risk.*The 6th most undervalued city in the United States according to Moody's Economy.com is Memphis !* Business 2.0 states Memphis is one of the Top Ten Cities to Invest in Real Estate !*Almost no depreciation risk*A Healty median income to median home price ratio.*Memphis is the 3rd least likely metropolitan area to see depreciation in the next two years according to PMI risk index.*Predicted home appreciation of 24% by 2014.*In the USA, Memphis has one of the highest monthly rent to price ( house cost ) ratios, making it a great place to invest !* Ranked #1 for property appreciation by Moody's Case Schiller Index, Memphis is set for appreciation.* U.S. News & World Report had an article titled " #1 City in America for Real Estate "Steals" * CNN Money Magazine advised us that Memphis was #1 on Home affordability Index for Retirees !*Except for 2008 and 2009 Memphis has only seen two quarters home prices decline !

Feel free to call or email me with any questions. I can email photos as well, for some reason these are not very clear.
Steve 703-963-2687
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Facts

  • Lot: 7,800 sqft
  • Single Family
  • Built in 1972
  • Views: 330 all time views
  • Cooling: Central
  • Heating: Other
  • Last sold: Sep 2014 for $49,900
  • Last sale price/sqft: $40

Features

  • Flooring: Tile
  • Lawn
  • Parking: Covered Parking, 625 sqft

Construction

  • Exterior material: Brick
  • Roof type: Shake Shingle
  • Room count: 6
  • Stories: 1
  • Unit count: 1

Other

  • Floor size: 1,255 sqft
  • Lot depth: 130
  • Lot width: 60
  • Parcel #: 090002 00317
  • Zillow Home ID: 42282726

Zestimate Details

Zestimate
A Zestimate home valuation is Zillow's estimated market value. It is not an appraisal. Use it as a starting point to determine a home's value. Learn more

The Value Range is the high and low estimate market value for which Zillow values a home. The more information, the smaller the range, and the more accurate the Zestimate. See data coverage and accuracy table

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$46,273
-$717 Last 30 days
$40K
$52K
Zestimate range
Rent Zestimate A Rent Zestimate is Zillow's estimated monthly rental price, computed using a proprietary formula. It is a starting point in determining the monthly rental price for a specific property. Learn more

The Rent Range is the high and low estimate for which an apartment or home could rent. The more information we have, the smaller the range, and the more accurate the Rent Zestimate. See data coverage and accuracy table
$738/mo
+$9 Last 30 days
$635
$812
Zestimate range

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330 all-time views
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83 forecasted views of this home
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Comparable Homes

Homes like this sold for $38-60K.

$30K
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Mortgages

Neighborhood: Raleigh

Zillow predicts Raleigh home values will rise 3.4% next year, compared to a 2.5% increase for Memphis as a whole. Among Raleigh homes, this home is valued 31.6% less than the midpoint (median) home, and is valued 9.3% less per square foot.

Foreclosures will be a factor impacting home values in the next several years. In Raleigh, the number of foreclosures waiting to be sold is 50.8% greater than in Memphis, and 221.8% higher than the national average. This higher local number may prevent Raleigh home values from rising as quickly as other regions in Memphis.

Learn more about forecast calculations or Raleigh home values.
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    Nearby Schools in Memphis

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    Data by GreatSchools.org