Great investment opportunity! This CASHFLOW property will be fully renovated and brought to 2020 standards! Target rent = $725 and professional property management is in place! This brick home features Hard surface floors, updated kitchen and bathrooms, newer working HVAC, and much more!
Single-familyProperty Type
1973Year Built
4,130 sq ftLot Size
$116Est. Price/Sq.Ft.
Listed by Jim Reedy• Reedy Group II, LLC
Bought with Bradley Reedy• Reedy Group II, LLC
Source:Memphis Area Association of Realtors(R) MLS #10082954
Redfin Estimate
$124,516
$15K since sold in July 2026$1,000 since September
Recently sold homes
Estimate history
Homes for sale
This home's estimate is 43.9% higher than the average sale price ($87K) of 6 comparable homes.
Memphis Area Association of Realtors(R) MLS #10082954
Nov 4, 2020
Sold
$74,900
$70/sq ft
Aug 15, 2020
Listed
$74,900
$70/sq ft
+4
Great investment opportunity! This CASHFLOW property will be fully renovated and brought to 2020 standards! Target rent = $725 and professional property management is in place! This brick home features Hard surface floors, updated kitchen and bathrooms, newer working HVAC, and much more!
Public Records
Aug 12, 2020
Sold
$30,714
$29/sq ft
Public Records
Jan 15, 2019
Sold
$1,112,861
$1,038/sq ft
Public Records
Jun 26, 2017
Sold
$966,000
$901/sq ft
Public Records
Oct 4, 2016
Sold
$1,260,000
$1,175/sq ft
Memphis Area Association of Realtors(R) MLS #3186930
Feb 28, 2010
Sold
$23,000
$21/sq ft
Dec 9, 2009
Listed
$23,900
$22/sq ft
Great Investment, rented for $625,please do not disturb tenant, O/A
Public Records
Apr 15, 1999
Sold
$29,755
$28/sq ft
Public Records
Nov 20, 1998
Sold
$39,500
$37/sq ft
Public Records
Aug 7, 1990
Sold
$35,100
$33/sq ft
Public Records
Oct 14, 1987
Sold
$37,794
$35/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$1,336 (+15.1%)
$2,625 + $22,725
$25,350
2024
$1,161 (+8.1%)
$2,625 + $22,725
$25,350
2023
$1,074
$2,400 + $15,225
$17,625
2022
$1,074 (−1.2%)
$2,400 + $15,225
$17,625
2021
$1,086 (+30.4%)
$2,400 + $15,225
$17,625
2020
$833
$2,400 + $15,225
$17,625
2019
$833
$2,400 + $9,100
$11,500
2018
$833 (+76.3%)
$2,400 + $9,100
$11,500
2017
$473 (+1.0%)
$2,400 + $9,100
$11,500
2016
$468
$2,400 + $9,100
$11,500
2014
$468
$2,400 + $8,325
$10,725
Tax history for 3359 Spring Water Cv
Year
Property tax
Land + Additions
Assessment*
2025
$1,336 (+15.1%)
$2,625 + $22,725
$25,350
2024
$1,161 (+8.1%)
$2,625 + $22,725
$25,350
2023
$1,074
$2,400 + $15,225
$17,625
2022
$1,074 (−1.2%)
$2,400 + $15,225
$17,625
2021
$1,086 (+30.4%)
$2,400 + $15,225
$17,625
2020
$833
$2,400 + $15,225
$17,625
2019
$833
$2,400 + $9,100
$11,500
2018
$833 (+76.3%)
$2,400 + $9,100
$11,500
2017
$473 (+1.0%)
$2,400 + $9,100
$11,500
2016
$468
$2,400 + $9,100
$11,500
2014
$468
$2,400 + $8,325
$10,725
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Zoning and permits
Zoning
Permits
R-6
Residential Single Family-6 District
The single-family residential districts are intended to accommodate one single-family detached principal dwelling unit per lot. These districts should be applied in areas where the land-use pattern is predominately single-family residential or where such a land use pattern is desired in the future. Five single-family residential districts are established-R-6 which are differentiated primarily on the basis of minimum lot area and setback requirements. New R-6 districts are generally located in an infill or redevelopment location where similar lot sizes are part of the original fabric of development. Additionally, R-6 districts should have a shared street network with and are generally located at least 500 to 1,000 ft from a CMU-1, CMU-2, CMU-3, or CBD district.
Permitted uses
Include but are not limited to:
Religious facility
Housing-Senior
Infrastructure
Educational / school
Fire house
Police station
Recreation
Park & open space
Oct 7, 2020 • Final
Residential mechanical
Perform an air test on a gas line and conduct an approved walk-through inspection.
Gas
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Property details
Interior
Bathroom Information
# of Full Baths: 1
Heating & Cooling
Heating Fuel Type: Gas
Heating Type: Central
Room Information
# of Rooms: 6
Exterior
Exterior Information
Physical Condition: Average
Building Style Type: Traditional
Exterior Wall: Brick Veneer
Roof Covering Type: Composition Shingle
Roof Shape Type: Gable
Property Information
Subdivision Name: SPRING VALLEY
Living Sq. Ft: 1,072
Ground Floor Sq. Ft: 1,072
Building Sq. Ft: 1,072
# of Stories: 1
Stories Type: 1
Legal Description: SWS SPRING WATER CV
Parking & Garage Information
Parking Type: Frame Garage
Garage/Parking Sq. Ft: 198
Garage / Carport Type: Frame
Lot Information
# of Buildings: 1
Land Sq. Ft: 4,130
Legal Lot Number: 163
Municipality Name: MEMPHIS
Acres: 0.0948
Depth Footage: 118
Front Footage: 35
Zoning Code: R-6
County Use Description: SINGLE FAMILY
Financial
Assessor Information
Assessment Year: 2026
Public facts
Beds: 3
Baths: 1.0
Sq. Ft.: 1,072
Stories: 1.0
Lot Size: 4,130 square feet
Style: Single Family Residential
Year Built: 1973
Year Renovated: 1997
County: Shelby County
APN: 090005 00016
Home facts updated by county records on Jul 14, 2026
Around this home
Schools
Keystone Elementary School
Public PreK-5 • Assigned • 0.4mi
4/10
Raleigh Egypt High School
Public 6-12 • Assigned • 1.3mi
4/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
6/10 Heat Factor
7 days above 109° expected this year, 21 days in 30 years
4/10 Wind Factor
13% chance of strong winds in next 30 years
3/10 Air Factor
3 unhealthy days expected this year, 4 days in 30 years
Provided by First Street
Historical weather
Memphis, TN • 38128
Average low and high temperatures (°F)
46
29
57
36
71
50
78
58
79
62
89
72
93
76
89
70
87
66
77
55
65
48
54
39
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 10.5 hours in
June and 4.7 hours in December, placing it above the
U.S. average for solar exposure.
10.5 hrs
4.7 hrs
JuneDecember
Provided by Shadowmap
Estimated sale price
$119,000 – $144,000
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