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Looking for an insight on purchasing a property in White Haven-Coro Lake neighbourhoo

Posted Apr 17 2024, 15:45

Hi Guys,

I am looking to purchase a property in the White Haven-Coro Lake neighborhood on Berta Road, Memphis, Tennesse. This is a turnkey investment, and I would appreciate it if you guys could provide me with answers to the following questions.

1. I am looking at this as a cash flow play and would like to know if this neighbourhood has the potential for rental hikes around 3 to 5 percent in the next 5 years?

2. Could you guys provide me with insights on nearby industries? Do you anticipate any appreciation for the property in the next 5 to 10 years?

3. Are there potential risks you see in this neighborhood that I need to consider in my decision?
Buyan


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Jordan Ray
  • Real Estate Agent
  • Memphis, TN
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Jordan Ray
  • Real Estate Agent
  • Memphis, TN
Replied Apr 17 2024, 23:14
Quote from @Buyan Thyagarajan:

Hi Guys,

I am looking to purchase a property in the White Haven-Coro Lake neighborhood on Berta Road, Memphis, Tennesse. This is a turnkey investment, and I would appreciate it if you guys could provide me with answers to the following questions.

1. I am looking at this as a cash flow play and would like to know if this neighbourhood has the potential for rental hikes around 3 to 5 percent in the next 5 years?

2. Could you guys provide me with insights on nearby industries? Do you anticipate any appreciation for the property in the next 5 to 10 years?

3. Are there potential risks you see in this neighborhood that I need to consider in my decision?
Buyan



I own a property over in that area. Look up 1204 Margaret Rd 38109. I currently have it rented for $1500/month on a 2 year lease. The 1st year I bought it, I actually rented it for $1600/month. I like the area personally!

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Jacopo Iasiello
  • Investor
  • Miami Beach, FL
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Jacopo Iasiello
  • Investor
  • Miami Beach, FL
Replied Apr 18 2024, 09:05

Hi Buyan, The potential for rental hikes in the White Haven-Coro Lake neighborhood on Berta Road largely depends on factors such as local market conditions, demand for rental properties, and economic trends. While it's challenging to predict future rental increases with certainty, historical data and trends in the Memphis area can provide some indication. Hope it helps

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