$119,800
3311 Madewell Street, Memphis, TN 38127
Current Rent **
$975
Projected Rent **
$975
Investment Property in Memphis!
MidSouth Home Buyers is a professional property management company serving the Memphis, Dallas, and Little Rock markets. This property is being offered as a turnkey investment with a tenant already in place, currently paying $975 per month. The asking price reflects the understanding that MidSouth Home Buyers will continue managing the property after closing, providing the new owner with a seamless, hands-off investment experience. Our experienced team handles rent collection, tenant communication, maintenance coordination, and the day-to-day management of the property, allowing you to enjoy passive rental income from day one with confidence and peace of mind.
This beautifully renovated home has been thoughtfully updated from top to bottom, offering peace of mind and modern appeal. Recent exterior improvements include fresh Sherwin-Williams paint, a new Owens Corning 30-year roof, new shutters, flower boxes, fresh mulch with evergreen landscaping, and a new mailbox. Inside, you'll find fresh paint throughout, all-new light fixtures, electrical outlets, switches and plates, oil-rubbed bronze door hardware, towel bars, window treatments, and Hampton Bay ceiling fans in the living room and bedrooms.
The kitchen has been completely refreshed with brand-new cabinets featuring durable CamLock construction, new countertops, a new double-bowl 8-inch deep stainless steel sink, and a new faucet. The bathrooms have also been fully updated with new bathtubs, tub surrounds, ceramic tile, vanities with brass P-traps, medicine cabinets, Eljer Green Flush toilets, tub and shower faucet kits, and a new exhaust fan.
Additional major upgrades include a brand-new air conditioning condenser, furnace, A-coil, Bradford White water heater, new laundry hookups, aluminum windows, and a concrete slab foundation. With its extensive renovations and quality finishes throughout, this home is truly move-in ready and designed for years of low-maintenance ownership.
You can email me at [email protected] or call/text me at 901-563-4485.
Location:
3311 Madewell Street, Memphis, TN 38127
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* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.
** Current rent and projected rent are provided by the lister.
† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.
‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.
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