Investor · College Grove, TN · Member since 2009 · 36 posts · 12 votes
Hello Memphis area BP'ers. I'm based in Nashville and don't know Memphis all that well. Considering a property in the East Midtown area near Christian Brothers University and Central Ave. What can you tell me about this area? What type of tenant and neighbors could I expect in this area?
Also, has the rental market softened with the large number of available rentals? We're seeing the Nashville market soften a bit as there's a lot of inventory coming online.
Real Estate Investor · Memphis, TN · Member since 2014 · 156 posts · 101 votes
9y
Bobby, that's too large of an area to say if it's good or bad. One end of the same street can be an awesome area while the far end of the same street may be terrible. We would need more details to give you an honest answer. Midtown can be a little tricky if you don't know the area well or live in midtown. I get calls all the time from people who live out East (Germantown, Collierville or East Memphis) that still can't figure out midtown -wanting our opinion since we live in Central Gardens and have several houses in different parts of midtown. Just please be careful. The rental market doesn't seem to be softening. Most good rentals are snatched up in days. Feel free to pm me if you need more details in the area you are looking. Good luck!
Professional · Memphis, TN · Member since 2014 · 56 posts · 15 votes
9y
Bobby that area of mid town is good for the most part. But like a lot of mid town areas you can go a couple of blocks one way or another and be in areas that you do not necessarily want to invest. The market here still seems strong but I do think things a about to soften a little.
Real Estate Investor · Memphis, TN · Member since 2014 · 156 posts · 101 votes
9y
Bobby, that's too large of an area to say if it's good or bad. One end of the same street can be an awesome area while the far end of the same street may be terrible. We would need more details to give you an honest answer. Midtown can be a little tricky if you don't know the area well or live in midtown. I get calls all the time from people who live out East (Germantown, Collierville or East Memphis) that still can't figure out midtown -wanting our opinion since we live in Central Gardens and have several houses in different parts of midtown. Just please be careful. The rental market doesn't seem to be softening. Most good rentals are snatched up in days. Feel free to pm me if you need more details in the area you are looking. Good luck!
Real Estate Agent · Memphis, TN · Member since 2015 · 152 posts · 132 votes
9y
I agree with John and Julia. Also rental market is still steady in Memphis especially in that area. This area is minutes from downtown with easy access to expressway to other parts of the city.