8 days on rocket

512 Mcelroy Rd, Memphis, TN, 38120

$539,901

Home List Price

$6,411*

Closing Credit

0 Baths
House

Location

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512 Mcelroy Rd, Memphis$539,901

Buyer Closing Credits

$6,411*

1.25% Loan Amount

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Property Highlights

Home TypeSingle Family Residence
ParkingGarage Door Opener(s), Side-Load Garage, Garage
Year Built1985
HeatingCentral, Electric
CoolingCentral Air
BasementYes
WaterfrontOther
MLS #10184658
StatusActive

About 512 Mcelroy Rd

"RARE FIND! Appraisal in hand for $565,000 from 2023. Instant Equity. UNBELIEVABLE OPPORTUNITY to purchase a home divided into TWO units. Both sides are 3 bedrooms with 2 baths with almost 2k feet of living space! HUGE income potential. Live in one and rent the other. Rent them both or have multiple families living together... endless possibilities in this highly desirable neighborhoods with easy access to local parks, shopping, and dining. You will not find another opportunity like this in the neighborhood with gorgeous new buildings going up around it, this is gold mine. Both sides very nicely updated and clean. Featuring spacious living areas filled with natural light, a beautifully updated kitchen with stainless steel appliances This charming residence combines modern comforts with classic Southern charm."

Property Details

Property Features

Property Information:

  • Architectural Style: Traditional
  • Year Built: 1985
  • Stories: 2

Listing Office:

  • Office Name: 901, REALTORS

Interior Features

Interior Information:

  • Appliances: Refrigerator, Range, Oven
  • Basement: Yes
  • Flooring Type: Hardwood Throughout, Tile, Smooth Ceiling
  • Interior: All Window Treatments, Attic Access, Cable Wired

Exterior Features

Exterior Information:

  • Waterfront: Other
  • Exterior: Brick Veneer, Aluminum/Steel Siding, Patio, Other (See Remarks)

Parking Information:

  • Parking: Garage Door Opener(s), Side-Load Garage, Garage

Lot Features

Lot Information:

  • Lot: Level, Other, Few Trees, Fencing

Utilities

Utilities Information:

  • Heating: Central, Electric
  • Cooling: Central Air

Other

Directions Information:

  • Directions: Walnut Grove Rd north on White Station, East on Mesquite, South on McElroy

Price Information

Listing Price Info

Price Summary:

  • List Price: $539,901

Tax Information:

  • Annual Amount: $7,227
  • 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

512 Mcelroy Rd vs Memphis

8 DAYS ON ROCKET

$539,901

+$349.4K More

KEY TAKEAWAY

This property is $349.4K more than the Median Sold Price in Memphis, TN.

Based on homes sold in October 2024

MLS Details

MLS Information:

  • MLS Number: #10184658

Listing Office:

  • Office Name: 901, REALTORS

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, 3:20:47 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2021$7,227$99,825
2020$5,880$81,150
2019$5,880$81,150
2018$3,335$81,150
2017$3,210$81,150

History based on county public records data.

Payment Calculator

$2,762

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,685

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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-347980
8
/10

  • Richland Elementary School

  • 5440 Rich Rd

  • 0.63 miles

  • Public District Grades PK-5

school-card-donut-347981
8
/10

  • White Station Elementary School

  • 4840 Chickasaw Rd

  • 1.06 miles

  • Public District Grades PK-5

school-card-donut-347982
4
/10

  • Berclair Elementary School

  • 810 N Perkins Rd

  • 1.46 miles

  • Public District Grades PK-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $68,782. Typical income of Memphis, TN residents is between $35k-100k annually. Residents typically live in single, no kids family. Typical level of education for residents in this area is post secondary degree.

All data provided by Home Junction and Claritas

Living In Memphis, TN

Content displayed has been generated by an AI model trained on a diverse range of data. While efforts have been made to ensure the quality and reliability of the content, there may be limitations or inaccuracies. The content should not be considered as a substitute for professional advice, and we recommend consulting with appropriate experts and independent sources for specific information or guidance. We assume no responsibility for any consequences arising from the use of this content.

Types of housing in Memphis, TN.

Memphis offers a diverse array of housing options, with single-family homes being a significant part of the market. Architectural styles range from charming historic bungalows to sleek contemporary new builds. The housing landscape is varied, with a mix of older homes that reflect the city's rich history and newer developments that cater to modern living preferences. While the homeownership rate is robust, there is also a healthy rental market that provides options for those not looking to buy.

What is it like to live in Memphis, TN?

Memphis is celebrated for its vibrant music scene and rich cultural heritage, which are integral to the city's character. The community prides itself on being the home of blues, soul, and rock 'n' roll, with landmarks such as Beale Street and the annual Memphis in May festival highlighting its musical legacy. The city's character is further defined by its friendly residents and a sense of small-town camaraderie amidst its urban setting.

Is it easy to get around Memphis, TN without a car?

The community benefits from a well-rounded selection of services, including a network of public and private schools that cater to educational needs at all levels. Healthcare facilities are distributed throughout the city, offering a range of services from routine care to specialized treatments. Public libraries serve as valuable resources for residents, and the city's retail and dining establishments reflect the local culture, with an emphasis on Southern cuisine and unique boutiques.

Transportation in Memphis, TN.

Memphis features a comprehensive transport infrastructure that includes a public transit system serving residents and visitors alike. The city's layout and road network facilitate easy commuting by car, with major highways connecting Memphis to surrounding areas. While certain neighborhoods are known for their walkability, the city as a whole is continuously working to improve pedestrian and bike paths to enhance accessibility and encourage eco-friendly modes of transport.

Frequently Asked Questions About 512 Mcelroy Rd

What is the listing price of this property?

The listing price of 512 Mcelroy Rd property is $539,901.

What type of property is this?

The property 512 Mcelroy Rd is a house located in Memphis, Tennessee, 38120.

Is this property for sale now?

Active Listing: 512 Mcelroy Rd 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 $7,227 (source: MLS/based on county public records data).

Which year was this property built?

The year of construction for 512 Mcelroy Rd is 1985.

Rocket Homes›Tennessee›Shelby County›Memphis›38120›512 Mcelroy Rd

This home is located at 512 Mcelroy Rd in Memphis, TN and zip code 38120. This home was built in 1985. It has been listed on Rocket Homes since November 06, 2024 and is currently priced at $539,901.

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 number of listings in Memphis, TN increased by 22.4% between September 2024 and October 2024.

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

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