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$275,000

For Sale - Active
3556 Philwood Ave, Memphis, TN 38122
3 Beds
1 Bath
0 Square Feet
0.00 Acres Lot
Built in 1952
For Sale - Active
Units n/a
Checked: 2 days ago
Updated: Jul 22, 2025 at 10:55PM

Investment Summary


Monthly Cash Flow
-$226
Cap Rate
4.7%
Cash-on-Cash Return
-4.3%
Debt Coverage Ratio
0.83
Internal Rate of Return (5 years)
-0.2%

Property Description


0.00 Acres Lot
Built in 1952
For Sale - Active
Units n/a

Welcome to this adorable 3-bedroom, 1-bath home nestled in the sought-after High Point Terrace neighborhood! This well-maintained gem features beautiful hardwood floors throughout, adding warmth and character to every room. The spacious living area centers around a cozy wood-burning fireplace—perfect for relaxing evenings at home. The home offers great potential with a fully floored, expandable attic, ready for your creative touch—whether it becomes a home office, bonus room, or additional bedroom. A detached garage (sold as-is) provides extra storage or workshop possibilities. Located just minutes from the Greenline, parks, and all the charm High Point Terrace has to offer, this home is perfect for first-time buyers, downsizers, or anyone looking for a cozy place to call home. Don't miss this cutie—it won’t last long!

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Location


Property Details


Parking

  • Description: Garage
  • Details: Garage Faces Front, Driveway
  • Garage Spaces: 0
  • Spaces Total: 1

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 6
  • # of Stories: 1
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Brick Veneer
  • Roof Type: Gable
  • Roof Material: Composition

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 04408400023
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Traditional
  • Year Built: 1952

Tax Information

  • Annual Tax: $3,656

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Shelby

Listing Details


Listed by:
Niki Berry
BHHS McLemore & Co. Realty
(901) 262-0970

Source:
Memphis Area Association of REALTORS
MLS#: 10201167
Memphis Area Association of REALTORS

Investment Summary


Monthly Cash Flow
-$226
Cap Rate
4.7%
Cash-on-Cash Return
-4.3%
Debt Coverage Ratio
0.83
Internal Rate of Return (5 years)
-0.2%

Purchase Details

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Purchase price:
$275,000
Amount financed:
-$220,000
Down payment:
$55,000
Closing costs:
$8,250
Rehab costs:
$0
Initial cash invested:
$63,250
Square feet:
0
Cost per square foot:
n/a
Monthly rent per square foot:
n/a

Financing Details

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Loan amount:
$220,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,301
Property tax:
$305
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,746

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (15%)
15%-$305-$3,656
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (40%)
40%-$805-$9,656

Cash Flow


Monthly Yearly
Net operating income:
$1,075 $12,900
Mortgage payments:
-$1,301 -$15,612
Cash flow:
$226 $2,712