21 days on rocket

3970 Southlawn Ave, Memphis, TN, 38111

$485,000

Home List Price

$5,759*

Closing Credit

0 Baths
Multi

Location

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3970 Southlawn Ave, Memphis$485,000

Buyer Closing Credits

$5,759*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
ParkingAsphalt/Blacktop
Year Built1965
HeatingCentral
CoolingCentral Air
BasementYes
MLS #10184193
StatusActive

About 3970 Southlawn Ave

Some Owner Financing available. Offered along with 3969 Southlawn (6 Unit Next Door) - 3970 Southlawn presents a 5-unit apartment building within walking distance to both UofM campuses. 5 of 5 units renovated. All units are 2 bed 1 bath, one of which being a two-story townhome. Central heat/air. Current rent roll $4,490 (one unit listed for rent) with a market potential rent of $6,050 (per 2024 published HUD rents for 38111). Combined rent roll with both properties is $9,090 with a market potential of $13,030. Add these 11 units to your portfolio today!

Property Details

Property Features

Property Information:

  • Year Built: 1965

Listing Office:

  • Office Name: Diversified Real Estate

Interior Features

Interior Information:

  • Basement: Yes
  • Flooring Type: Hardwood Throughout, Tile, Partial Carpet

Exterior Features

Parking Information:

  • Parking: Asphalt/Blacktop

Utilities

Utilities Information:

  • Heating: Central
  • Cooling: Central Air

Other

Directions Information:

  • Directions: North on Getwell, East on Southlawn

Price Information

Listing Price Info

Price Summary:

  • List Price: $485,000

Tax Information:

  • Annual Amount: $4,602
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Memphis, TN.

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Memphis, TN

City

Med. Sold Price

$190.4K

# of Sold Homes

409

3970 Southlawn Ave vs Memphis

21 DAYS ON ROCKET

$485,000

+$294.5K More

KEY TAKEAWAY

This property is $294.5K more than the Median Sold Price in Memphis, TN.

Based on homes sold in October 2024

MLS Details

MLS Information:

  • MLS Number: #10184193

Listing Office:

  • Office Name: Diversified Real Estate

Copyright© 2024 Memphis Area Association of REALTORS. The information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties that the consumer may be interested in purchasing. Information deemed reliable, but is not guaranteed accurate. Some or all of the listings displayed may not belong to the firm whose web site is being visited.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/21/2024, 7:20:48 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Oct 11, 2019Home Sold
$150,000
Aug 08, 2013Home Sold
$142,500

Tax History

YEARPROP. TAXASSESSMENT
2021$4,602$63,560
2020$3,759$51,880
2019$3,759$51,880
2018$2,132$51,880
2017$2,227$51,880

History based on county public records data.

Payment Calculator

$2,488

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,521

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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.

Nearby Schools

school-card-donut-223920
3
/10

  • Sherwood Elementary School

  • 1156 Robin Hood Ln

  • 0.52 miles

  • Public Magnet Grades PK-5

school-card-donut-223921
4
/10

  • South Park Elementary School

  • 1736 Getwell Rd

  • 1.01 miles

  • Public District Grades PK-5

school-card-donut-223922
4
/10

  • Willow Oaks Elementary School

  • 4417 Willow Rd

  • 1.25 miles

  • Public Magnet Grades PK-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $30,432. Typical income of Memphis, TN residents is less than $35k annually. The most common type of family is single, no kids. Typical level of education for residents in this area is high school diploma.

All data provided by Home Junction and Claritas

Rocket Homes›Tennessee›Shelby County›Memphis›38111›3970 Southlawn Ave

This home is located at 3970 Southlawn Ave in Memphis, TN and zip code 38111 in the East Memphis Park / Cherry Gardens neighborhood. This home was built in 1965. It has been listed on Rocket Homes since October 30, 2024 and is currently priced at $485,000.

In October 2024, from all listings sold in Memphis, TN there were more than 53 sold above asking price, over 252 sold below and more than 103 were sold right at the asked price. The inventory of homes for sale in Memphis, TN between September 2024 and October 2024 increased by 22.4%.

From Rocket Homes Real Estate and based on county public records data.

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