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Updated over 8 years ago on . Most recent reply

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78
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14
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David Lehane
  • Rental Property Investor
  • Kalamazoo, MI
14
Votes |
78
Posts

Memphis TN Zip code 38127 information

David Lehane
  • Rental Property Investor
  • Kalamazoo, MI
Posted

Hi All, just wondering if anyone has some detailed information about this Zip code in Memphis, I am looking for on the ground experience on this area, other than what I can find on the internet.

I have read the stats, I get that this area seems reasonable hard hit lower income area, but is it stable, safe, C+ properties area or an area which is transforming as Business move in and people start to stabilise?

In other words, would I live there and not feel threatened?

Real Estate seems to be reasonably priced in this area, so some more background checks will help me make some decisions. 

Most Popular Reply

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404
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421
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David Hutson
  • Rental Property Investor
  • Bartlett, TN
421
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404
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David Hutson
  • Rental Property Investor
  • Bartlett, TN
Replied

David,

I have several homes in this zip code.  38127 is a difficult area with several good pockets in it.  When you hear that property management is what will make or break you, multiply that by 5x for this zip code.  It's easy to buy a $20-$40k property in this area but it's difficult to get and maintain the good tenants.  If you can get that part down you can do well.  In my opinion there are only a handful of management companies that do really well in that zip code.  I have a few homes that have had the same tenant since I purchased them a few years ago and some that get turned every year with damage/no rent when the tenant left.  I have even had one burn down earlier this year.  Not sure what caused it but I found out the tenant had several large snakes in the property that went up with the house.

I like the area for rentals if you get good homes with great management.  Would I live there, probably not but there are definitely good pockets there where I would feel safe. 

I strongly recommend to all new investors to the area that they don't start with that zip code.  Maybe if you spend a lot of time there or know the city it may be ok.  I tell people who want to get into the cheaper homes to move up a little in price and buy in 38128, to the east.  It's one of my favorite areas in Memphis to invest.

Good luck, pm if you have any other questions.

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