Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$4,055
Per Month
Principal & Interest
$3,988
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
$2,462
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
5
/10
William H. Brewster Elementary School
2605 Sam Cooper Blvd
Distance between this listing and this school0.29 miles
Public Magnet Grades PK-5
5
/10
Springdale Elementary School
880 N Hollywood St
Distance between this listing and this school0.68 miles
Public Magnet Grades PK-5
3
/10
Cornerstone Preparatory - Lester Campus
320 Carpenter St
Distance between this listing and this school0.87 miles
Public Charter Grades PK-5
Nearby Schools
3
/10
Lester Prep Academy (ASD)
320 Carpenter St
Distance between this listing and this school0.87 miles
Public Charter Grades 6-8
3
/10
Snowden School
1870 N Parkway
Distance between this listing and this school1.27 miles
Public Magnet Grades PK-8
3
/10
Kipp Memphis Middle Academy
2110 Howell Ave
Distance between this listing and this school1.45 miles
Public Charter Grades 5-8
Nearby Schools
3
/10
Kipp Memphis Collegiate High School
2110 Howell Ave
Distance between this listing and this school1.42 miles
Public Charter Grades 9-12
8
/10
East High School
3206 Poplar Ave
Distance between this listing and this school1.70 miles
Public Magnet Grades 9-12
7
/10
Middle College High School
750 E Parkway S
Distance between this listing and this school1.74 miles
The neighbors living near this home have an average income of $17,273. The majority of Memphis, TN residents have income less than $35k annually. Most families are single, no kids. Most residents in this area have high school diploma education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 2525 Summer Ave
What is the listing price of this property?
The listing price of 2525 Summer Ave property is $799,000.
What type of property is this?
The property 2525 Summer Ave is land located in Memphis, Tennessee, 38112.
Is this property for sale now?
Active Listing: 2525 Summer 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 2021 is $11,190 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on November 18, 2020 for $320,000. (source: MLS/tax record).
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 2525 Summer Ave in Memphis, TN and zip code 38112 in the Binghampton / Lester neighborhood. This home sits on a 2.00 acre lot. It has been listed on Rocket Homes since March 24, 2024 and is currently priced at $799,000.
In November 2024 more than 45 listings in Memphis, TN were sold above the asking price. During the same period more than 98 listings were sold at asking price, while more than 218 were sold below. Between October 2024 and November 2024, Memphis, TN real estate market has seen increase in the number of listings by 6.8%.
From Rocket Homes Real Estate and based on county public records data.
UFC
UFC
NHRA Drag Racing
Figure Skating
Family Dollar
Big Lots
Burlington
Burger King
Golden Corral
Church's Chicken
Buick
Kia
Cadillac
Urban Contemporary
Adult Standards
Jazz