Updated: Jan 20
Single Family Investment Opportunity
6 bedrooms 7 1/2 bathrooms
3 car garage
Great opportunity to own an incredible property in the Eads, TN a smoking hot suburb of Memphis, TN. Owner is in the midst of adding an additional bedroom of approximately 740 square feet of additional living space - second floor - last interior door to the East - which will bring the total square footage to 8800. Brick and iron perimeter fencing around the 4.16 acre property. This property was built in 2000. All VIKING stainless steel appliances.
A lot of stone and wood flooring downstairs, granite, etc. Newer roof. New exterior paint. Circular driveway with long entry driveway and additional on-site vehicle parking.
Most improvements have been completed. Needs partial paint - downstairs and carpets upstairs, some drywall repair and a minor balcony repair. Recently serviced / pumped septic tank, serviced the VIKING appliances, bought a new CARRIER HVAC Condenser, completed plumbing and electrical improvements - needs a few additional items - like new interior light fixtures, also would suggest adding new higher-end chandeliers, new faucets and other trim pieces, etc. Recently installed LEAF FILTER rain gutters with leaf filter screens to the front ($9,850+). Staged with four queen beds and furniture furniture. Just installed: ocean blue SAMSUNG washer and dryer. We can provide our preferred vendors for septic, appliance maintenance and repairs, HVAC, gutters. roof and landscaping, etc.
Property Photos: https://photos.app.goo.gl/MQ7v2cMDGU8ZLQLU9
Current appraisal on 12/21/22 is at $1,575,000.00.
Instant Equity of $400,000.
Back story: MIKE TYSON rented this house when he was in town for his heavy-weight title fight with LENNOX LEWIS in 2002. My attorney sent me a few photos of TYSON at the property.
A few houses down the street is the remarkably beautiful home of DAMON STOUDEMIRE, who used to play basketball with Memphis Grizzlies, currently basketball coach at University of the Pacific in California. DAMON deeded the property to his ex-wife NATASHA TAYLOR, current owner.
This beautiful property is being considered as a potential rental home for film executives who will be in Memphis filming the new tv series shot in Memphis. In addition, because of the need for executive housing serving the new "Blue Oval City" FORD EV-truck plant, a $6.5 billion dollar new development about 30 minutes to the East, many people have been driving by and have stopped to ask if the house is for sale or for rent. Demand will continue to increase as Blue Oval City workers come to the area and need housing.
Budget $50,000 to $70,000 to complete improvements to the property to the buyer's taste.
Market Rent on this home is $6,500 - $10,000/month. Gated driveway and plenty of amenities to make this the perfect short term rental or long term rental.
Additional information available upon request
Please submit all offers directly to Sarter@promiselandrealtyllc.com
PROPERTY PHOTOS: https://photos.app.goo.gl/Rh22STX6yDyKkPzdA
"Your #1 Source for Off Market Investment Property"
PROMISE LAND REALTY, LLC
All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. *Realtors add your fee on top*