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29
Values hit $304K, 8 sales confirmed
Updated 10 days ago • 11 new comps
Your Investment Paths
Turnkey Rental
The property shows strong rent potential with estimated monthly income ranging between 1,578 and 1,905 dollars. Based on current market trends, this aligns well with local comparable properties that maintain a steady rental demand. Investors can expect a solid yield of approximately 6.24 percent. This steady income stream makes the property an attractive option for those looking to build reliable cash flow within the active Memphis real estate market.
More about this home
Neighborhood Assessment
Normandy Lane in East Memphis sits in a solid neighborhood with top schools nearby—Richland Elementary rates a 9, White Station Middle 7, High 8. It's walkable with sidewalks, a corner lot perk, and comps show steady values around 300K-380K for similar 3-bed homes. Recent sales like 94 N Fernway at ~330K confirm demand, though Memphis market fluctuates. You know, this area's stable, not booming but reliable for families. Comps average ~325K Zestimates, this 1,386 sqft ranch sold for 335K in May '24 post-renovated kitchen. Hardwoods, deck, fenced yard boost appeal in this tree-lined spot.
Market Activity
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Rental Income
$21K
Yield
6.2%
Year 1 Estimates
Fix-and-Flip
Modernizing this home offers a smart way to stand out. Upgraded properties see a price per square foot of $210, compared to $203 for the baseline, representing a 3.1% boost that enhances long-term property appeal and value. This project unlocks new possibilities, raising potential sale prices toward $306,000 and rental income to $2,025. Refreshing your 1954 build creates a fresh, inviting space that attracts quality buyers and keeps your home competitive in today's market.
Value Add
$9K
Post Typical Renovation
Buy-Rehab-Rent
This 1954 property offers solid BRR potential with a post-renovation value estimated between $277,000 and $306,000. While renovation margins are currently modest, the market shows stability, providing a reliable foundation for long-term equity growth through strategic updates. Annual rental income is projected at $22,860, delivering a healthy 7.8% yield. These figures suggest a steady cash-flowing asset, making it a practical choice for investors seeking consistent monthly returns in a well-established neighborhood.
Rental Income
$23K
Yield
7.8%
Year 1 Estimates, Post Typical Renovation
Asking price
$315K
$10.3K over comp median
Comparative Market Analysis
$190K – $360K
~35 days to sell
Based on 8 comps
5021 Normandy Ln, Memphis Investment Report: Flip & Rental Analysis · Frontflip