This Commercial zoned lot has EMP zoning which is one of the most flexible commercial zonings. Possible uses include Daycare, truck parking, funeral services, retail and more! It has 480 feet of Road Frontage on Chelsea. This is a level lot that previously had a structure on it. Call me direct with for more information
Property Details
Property Features
Listing Office:
Office Name: Braden, Braden & Braden LLC
Lot Features
Lot Information:
Lot: City Lot
Lot Size: 5.09 Acres
Other
Directions Information:
Directions: From Watkins and midtown turn right, parcel on the right
Price Information
Listing Price Info
Price Summary:
List Price: $1,000,000
Tax Information:
Annual Amount: $2,588
Tax Year: 2020
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in Memphis, TN.
Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$5,058
Per Month
Principal & Interest
$4,991
Home PriceThe dollar amount you pay for the home.
$
Interest RateMortgage interest rates fluctuate, but they're typically in the 5% to 9% range. Your rate will be calculated based on personal details including your credit score.
%
Down PaymentThe initial money paid at closing that is usually a percentage of the purchase price. Most loans require at least 3% down, but a 0% down payment may be possible if you're eligible for a VA or USDA loan.
$%
Loan TermThis is how long you'll pay on the loan. A longer term gives you smaller payments, while a shorter term saves you money on interest.
Property Taxes
$0
Property Taxes -Annual CostEvery homeowner pays taxes to their local government based on their home's value and the property tax rates for the county or city. Most areas charge property taxes semiannually.
$/ Year
Mortgage Insurance
$0
Mortgage Insurance -Monthly PremiumMortgage insurance helps secure a mortgage with a lower down payment. It typically costs 0.1% - 2% of your loan amount per year.
$/ Month
Homeowners Insurance
$67
Homeowners Insurance -Monthly PremiumMost homeowners pay about $1,000 a year for homeowners insurance, but the cost varies based on your location, home and coverage.
$/ Month
Homeowners Association (HOA)
$0
Homeowners Association -Monthly FeesHomeowners Association (HOA) fees can range from $30 per month to $500+ per month. Be sure to ask your agent about HOA fees on a home as it can impact your affordability or check the online home listing.
$/ Month
Utilities
$0
Utilities - Monthly CostYou'll need to budget for utilities as a homeowner, which typically includes water and sewer, gas and electric, internet and cable. Cost will depend on your location and the size of your home. On a monthly basis, Americans pay $239 - $442 per month.
$/ Month
Recommended Financing
30-Year Fixed
Rate/APR
7.5% / 6.68%
Total Monthly Payment
$3,065
Powered By
Advertisement
NMLS#3030
Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
2
/10
Vollentine Elementary School
1682 Vollintine Ave
Distance between this listing and this school0.57 miles
Public Magnet Grades PK-5
3
/10
Memphis Scholars Caldwell-Guthrie (ASD)
951 Chelsea Ave
Distance between this listing and this school1.21 miles
Public Charter Grades PK-5
4
/10
Kipp Memphis Academy Elementary School
2248 Shannon Ave
Distance between this listing and this school1.42 miles
Public Charter Grades PK-4
Nearby Schools
3
/10
Believe Memphis Academy Charter School
1250 Vollintine Ave
Distance between this listing and this school0.74 miles
Public Charter Grades 4-7
3
/10
Kipp Memphis Middle Academy
2110 Howell Ave
Distance between this listing and this school0.98 miles
Public Charter Grades 5-8
3
/10
Snowden School
1870 N Parkway
Distance between this listing and this school1.40 miles
Public Magnet Grades PK-8
Nearby Schools
3
/10
Kipp Memphis Collegiate High School
2110 Howell Ave
Distance between this listing and this school1.00 miles
Public Charter Grades 9-12
5
/10
Crosstown High School
1365 Tower Ave
Distance between this listing and this school1.45 miles
Public Charter Grades 9-11
2
/10
Manassas High School
1111 N Manassas St
Distance between this listing and this school1.61 miles
The neighbors living near this home have an average income of $16,197. The majority of Memphis, TN residents have income less than $35k annually. Most families are single, no kids. The majority of residents in this area have high school diploma education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 1587 Chelsea Ave
What is the listing price of this property?
The listing price of 1587 Chelsea Ave property is $1,000,000.
What type of property is this?
The property 1587 Chelsea Ave is land located in Memphis, Tennessee, 38108.
Is this property for sale now?
Active Listing: 1587 Chelsea Ave is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2020 is $2,588 (source: MLS/based on county public records data).
By checking this box and submitting your personal information, you agree to our Terms of Use and Privacy Policy. You also expressly consent to having Rocket Homes Real Estate LLC, its Family of Companies, Rocket Homes Network Partners, and potentially our mortgage partners contact you about your inquiry by text message or phone (including automatic telephone dialing system, AI voice, or an artificial or prerecorded voice) to the residential or cellular telephone number you have provided, even if that telephone number is on a corporate, state, or national Do Not Call Registry. You do not have to agree to receive such calls or messages as a condition of getting any services from Rocket Homes Real Estate, LLC or its partners. By communicating with us by phone, you consent to calls being recorded and monitored. You also agree that we can share your personal data and contact information with third parties such as mortgage partners, partner companies, and affiliates, and that these parties may use your personal data and contact information for marketing and analytic purposes, and to improve your experience.
This home is located at 1587 Chelsea Ave in Memphis, TN and zip code 38108 in the Rhodes / Hollywood / Springdale neighborhood. This home sits on a 5.09 acre lot. It has been listed on Rocket Homes since July 16, 2024 and is currently priced at $1,000,000.
Memphis, TN housing market in November 2024 saw over 45 listings sold above listed price, more than 98 sold at listed price and over 218 sold below. The number of homes for sale in Memphis, TN increased by 6.8% between October 2024 and November 2024.
From Rocket Homes Real Estate and based on county public records data.
UFC
UFC
NHRA Drag Racing
Pro Wrestling
Family Dollar
Big Lots
Burlington
Burger King
Golden Corral
Cicis Pizza
Buick
Kia
Pontiac
Urban Contemporary
Adult Standards
Jazz