Tennessee 164 unit in East Memphis

7 Replies

Hi Johnny, 

This zip (like much of Memphis) varies greatly. Is the property North or South of Park Ave and Southern Ave? Is it East or West of Highland? As you can tell by the listings on the MLS, homes in one part of the zip are 5000 sqft top of the line homes, while some a little further south are less than 1000 sqft and going in the $30's.

Look into the following:

  • Crime rate
  • Historical Occupancy
  • Job growth
  • School systems
  • Retail
  • Household Income
  • Absorption rate
  • New Supply

Do this and you'll have a better understanding of the neighborhood. Also, look into the comps surrounding the property.