505 Elmfield St, Memphis, TN, 38127

Location

Get An Agent. Get A Mortgage.

Let Us Help You Buy A Home And Save BIG

Save BIG.

505 Elmfield St, Memphis$96,000

Buyer Closing Credits

$1,140^*

1.25% Loan Amount

Connect With An Agent

Still Have Questions? Contact Us.

1 (855) 200-2001

Property Highlights

Home TypeSingle Family Residence

ParkingDriveway/Pad

Year Built1987

HeatingCentral

CoolingCentral Air

MLS #10184813

Lot Size0.16 Acres

StatusActive

About 505 Elmfield St

Looking for an immediate ROI? This tenant occupied property gives you just that. Currently rented through 5/2025. This property is currently professionally managed and rent rolls are available upon request. Lots of room to increase rent at renewal time based on zillow estimates to $1126. Please do not disturb the tenant. No wholesale or creative financing offers. No showings without an accepted offer.

View More

Property Details

Property Features

Property Information:

• Architectural Style: Traditional
• Year Built: 1987
• Stories: 1

Listing Office:

• Office Name: The Home Partners Realty

Interior Features

Interior Information:

• Flooring Type: Part Carpet

Bedroom and Bathroom Information:

• Full Bathrooms: 2
• Total Bedroom Count: 3

Exterior Features

Exterior Information:

• Exterior: Porch

Parking Information:

• Parking: Driveway/Pad

Lot Features

Lot Information:

• Lot: Few Trees
• Lot Size: 0.16 Acres

Utilities

Utilities Information:

• Heating: Central
• Cooling: Central Air

Other

Directions Information:

• Directions: Keep right onto Watkins St North. turn left onto Northaven Dr. Turn left onto N Circle Rd. Turn right onto Elmfield Cove. The property will be on your left.

Price Information

Listing Price Info

Price Summary:

• List Price: $96,000

What can I afford?

Understand what home price range makes sense for your budget.

See What I Can Afford

Housing Market Comparison

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

Memphis, TN

City

Med. Sold Price

$190.4K

# of Sold Homes

409

505 Elmfield St vs Memphis

7 DAYS ON ROCKET

$96,000

-$94.4K Less

KEY TAKEAWAY

This property is $94.4K less than the Median Sold Price in Memphis, TN.

Based on homes sold in October 2024

MLS Details

MLS Information:

• MLS Number: #10184813

Listing Office:

• Office Name: The Home Partners Realty

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: 11/15/2024, 6:20:48 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

View More

Property Sales & Tax

We're sorry, we currently don't have sales or tax history data for this listing.

Payment Calculator

Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.

$547

Per Month

Principal & Interest

$480

Home Price

Home PriceThe dollar amount you pay for the home.

$

Interest Rate

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 Payment

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.

$Down PaymentPercent%

Loan Term

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.

30 year25 year20 year15 year10 year

Property Taxes

$0

Annual Cost

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

Monthly Premium

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

Monthly Premium

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

Monthly Fees

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

Monthly Cost

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

*Disclosures

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$354

See More Options

Connect With A Banker

Powered By

Advertisement

NMLS#3030

**Disclosures

Rocket Homes›Tennessee›Shelby County›Memphis›38127›505 Elmfield St

This home is located at 505 Elmfield St in Memphis, TN and zip code 38127 in the Northhaven neighborhood. This home, which was built in 1987, sits on a 0.16 acre lot. Features: 3 bedrooms, 2 bathrooms. It has been listed on Rocket Homes since November 08, 2024 and is currently priced at $96,000.

While more than 53 listings in Memphis, TN in October 2024 were sold above asking price, there were more than 103 listings sold at asking price, and more than 252 were sold below. 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.