1 month on rocket

5505 Melvin Rd, Memphis, TN, 38120

$240,000

Home List Price

$2,850*

Closing Credit

2 Bedrooms
1 Full Bath
House

Location

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5505 Melvin Rd, Memphis$240,000

Buyer Closing Credits

$2,850*

1.25% Loan Amount

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Property Highlights

Home TypeSingle Family Residence
ParkingDriveway/Pad, Front-Load Garage
Year Built1956
HeatingCentral
CoolingCentral Air
MLS #10181491
Lot Size0.15 Acres
StatusActive

About 5505 Melvin Rd

Priced to sell!! Seller offering $3k towards closing costs or home improvements! Welcome to 5505 Melvin Rd., a beautifully updated 2 BD, 1 BA home in East Memphis, located in the desirable Richland Elementary school district. Just steps from the school! This home features an eat in kitchen with granite countertops, a breakfast bar, and a spacious dining area, 2 generously sized bedrooms, a renovated bathroom, and cozy den. Enjoy the private backyard and expansive patio perfect for relaxing or entertaining. Don’t miss the chance to make this adorable house your new home!

Property Details

Property Features

Property Information:

  • Architectural Style: Traditional
  • Year Built: 1956
  • Stories: 1

Listing Office:

  • Office Name: BHHS Taliesyn Realty

Interior Features

Interior Information:

  • Flooring Type: Hardwood Throughout

Bedroom and Bathroom Information:

  • Full Bathrooms: 1
  • Total Bedroom Count: 2

Exterior Features

Exterior Information:

  • Exterior: Patio

Parking Information:

  • Parking: Driveway/Pad, Front-Load Garage

Lot Features

Lot Information:

  • Lot: Level
  • Lot Size: 0.15 Acres

Utilities

Utilities Information:

  • Heating: Central
  • Cooling: Central Air

Other

Directions Information:

  • Directions: From Walnut Grove take a right on Yates, a left on Melvin, property is on the left.

Price Information

Listing Price Info

Price Summary:

  • List Price: $240,000

Tax Information:

  • Annual Amount: $3,200
  • 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

5505 Melvin Rd vs Memphis

57 DAYS ON ROCKET

$240,000

+$49.5K More

KEY TAKEAWAY

This property is $49.5K more than the Median Sold Price in Memphis, TN.

Based on homes sold in October 2024

MLS Details

MLS Information:

  • MLS Number: #10181491

Listing Office:

  • Office Name: BHHS Taliesyn 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.

Property Sales & Tax

Listing History

Apr 13, 2017Home Sold
$92,000
May 04, 2009Home Sold
$115,000

Tax History

YEARPROP. TAXASSESSMENT
2021$3,200$44,200
2020$2,726$37,625
2019$2,726$37,625
2018$1,324$37,625
2017$1,357$32,225

History based on county public records data.

Payment Calculator

$1,265

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$786

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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.

Nearby Schools

school-card-donut-376026
8
/10

  • Richland Elementary School

  • 5440 Rich Rd

  • 0.13 miles

  • Public District Grades PK-5

school-card-donut-376027
8
/10

  • White Station Elementary School

  • 4840 Chickasaw Rd

  • 1.28 miles

  • Public District Grades PK-5

school-card-donut-376028
4
/10

  • Berclair Elementary School

  • 810 N Perkins Rd

  • 2.00 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 $60,584. Most Memphis, TN residents have annual incomes between $35k-100k. Typical family type is single, no kids. Most residents in this area have post secondary degree education.

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 5505 Melvin Rd

What is the listing price of this property?

The listing price of 5505 Melvin Rd property is $240,000.

What type of property is this?

The property 5505 Melvin Rd is a house located in Memphis, Tennessee, 38120.

Is this property for sale now?

Active Listing: 5505 Melvin 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 $3,200 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on April 13, 2017 for $92,000. (source: MLS/tax record).

How many bedrooms and bathrooms does this property have?

The property at 5505 Melvin Rd has 2 bedrooms and 1 bathroom.

Which year was this property built?

The year of construction for 5505 Melvin Rd is 1956.

Rocket Homes›Tennessee›Shelby County›Memphis›38120›5505 Melvin Rd

This home is located at 5505 Melvin Rd in Memphis, TN and zip code 38120. This home, which was built in 1956, sits on a 0.15 acre lot. Features: 2 bedrooms, 1 bathroom. It has been listed on Rocket Homes since September 19, 2024 and is currently priced at $240,000.

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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