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$89,000 / 3br - 1260ft2 - Passive Turnkey Rental Investment - 803 Richmond Ave (Memphis, TN)
803 Richmond Ave, Memphis, TN, TN 38106
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📍 Located in South Memphis, this charming single-family home is an excellent addition to any rental portfolio. With 3 bedrooms, 1 bathroom, and 1,260 sq. ft. of living space on a 0.21-acre lot, this property offers both affordability and consistent rental income.
📊 Investment Highlights:
Property Taxes: Only $415/year (~$34.58/month)
Strong cash-flow potential with low overhead
Long-term tenant in place, providing immediate returns
Excellent price-to-rent ratio for buy-and-hold investors
✨ Why This Property?
Turnkey rental with tenant in place
Low annual taxes = stronger net returns
Affordable entry price point in the Memphis market
Value-add potential with cosmetic upgrades for increased rent in the future
This property is a ready-to-go cash flow generator in a market with strong rental demand. Perfect for both new investors building their portfolio and seasoned investors looking to add stable, low-cost, high-return assets.