Fantastic opportunity to add a solid income-producing property to your investment portfolio! This tenant-occupied home is currently leased for $1,440 per month, providing immediate rental income from day one. Offering a great combination of convenience, location, and investment potential, this property is an excellent option for investors looking to expand their portfolio with an already-performing asset. Don’t miss the opportunity to make this one yours!
Valley Forge, located between Germantown Parkway and Walnut Grove Road, is a suburban and residential Memphis neighborhood with curving cul-de-sacs and mature tree cover. The neighborhood’s character concentrates around the Germantown Parkway & Walnut Grove Road crossroads, where big-box retail, casual eateries, and daily-errand storefronts cluster in a steady hum of traffic. Housing leans toward late-20th-century brick homes and townhome pockets set behind landscaped buffers. Greenway access and nearby parks shape an outdoors-forward routine. Shelby Farms Park and the Wolf River Greenway add long, flat miles for walking and cycling. The setting reads polished and practical, with most activity oriented to the park-and-retail corridor.
Provided by Walk Score and Local Logic
Offer insights
3637 Neely Rd · $160,000
$161K and above
75% chance or better to win
Why $161K+ is a strong offer
DAYS ON MARKET
8 days
The average home goes pending in 36 days.
SALE-TO-LIST
96.9%
Most homes are selling 3% below list price.
About offer insights
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Interior features
Six total rooms
Single-story layout
Living, dining and kitchen areas noted as combined/see remarks
Additional bedroom/bathroom details referenced in remarks
Bedrooms
Three bedrooms
Bathrooms
One full bathroom
One half bathroom
Kitchen
Kitchen included (details referenced in remarks)
Laundry & utility
Laundry/utilities details not provided
Flooring
Floors/ceilings described in remarks
Heating & cooling
Central heating
Central cooling
Exterior features
No pool
Miscellaneous exterior details referenced in remarks
Exterior/windows details referenced in remarks
Home design
Detached single-family home
Traditional style
Built in 1966
Parking
One covered parking space
Additional parking/storage described as 'Other (see remarks)'
Security
No security features listed
Construction
Existing property (established construction)
Utilities
Public utilities details not specified
HOA & community
No HOA information provided
Financial info
Annual city tax listed (amount withheld from feature extraction per instructions)
Annual county tax listed (amount withheld from feature extraction per instructions)
Other
Property sits on approximately 0.2 acres
Lot dimensions noted as 70 x 125
Located in the VALLEY FORGE subdivision
Electricity and solar
View estimated energy costs and solar savings for this home
Memphis Area Association of Realtors(R) MLS #10229144
Aug 26, 2026
Listed
$160,000
Memphis Area Association of Realtors(R) MLS #10212535
Jun 25, 2026
Sold
$76,500
May 9, 2026
Price Changed
$77,500
Apr 17, 2026
Price Changed
$84,900
Mar 28, 2026
Price Changed
$94,900
Mar 19, 2026
Price Changed
$99,900
Mar 6, 2026
Price Changed
$104,900
Feb 25, 2026
Price Changed
$114,900
Jan 9, 2026
Listed
$119,900
+8
Welcome to this beautifully maintained 3-bedroom, 1.5-bathroom single-family home. Featuring gleaming hardwood floors throughout, this home offers both warmth and character. The large backyard provides ample space for outdoor activities and gatherings, making it perfect for entertaining. With generous living spaces, well-appointed bedrooms, and updated bathrooms, this home is a perfect blend of comfort and style. Don’t miss the opportunity to make this your new home!
Memphis Area Association of Realtors(R) MLS #10053348
Oct 22, 2019
Sold
$51,000
Sep 19, 2019
Price Changed
$58,900
Aug 8, 2019
Price Changed
$60,500
Jun 25, 2019
Price Changed
$61,500
May 23, 2019
Listed
$62,500
Public Records
May 12, 2015
Sold
$128,000
Memphis Area Association of Realtors(R) MLS #9951736
May 11, 2015
Sold
$58,000
May 1, 2015
Listed
$58,000
Memphis Area Association of Realtors(R) MLS #3161238
Mar 16, 2009
Sold
$21,000
Jan 8, 2009
Listed
$23,900
Memphis Area Association of Realtors(R) MLS #2523371
Nov 14, 2002
Sold
$66,000
Oct 25, 2002
Listed
$65,000
Public Records
Dec 22, 1972
Sold
$15,155
Public Records
May 19, 1972
Sold
$16,136
Year
Property tax
Land + Additions
Assessment*
2025
$1,492 (+39.6%)
$3,675 + $24,625
$28,300
2024
$1,068 (+8.1%)
$3,675 + $24,625
$28,300
2023
$988
$3,025 + $13,200
$16,225
2022
$988 (−1.2%)
$3,025 + $13,200
$16,225
2021
$1,000 (−7.4%)
$3,025 + $13,200
$16,225
2020
$1,080
$3,025 + $13,200
$16,225
2019
$1,080
$3,025 + $11,875
$14,900
2018
$1,080 (+76.3%)
$3,025 + $11,875
$14,900
2017
$612 (+1.9%)
$3,025 + $11,875
$14,900
2016
$601
$3,025 + $11,875
$14,900
2014
$601
$3,025 + $10,750
$13,775
Public record
Public record
Zoning
Permits
Beds
3
Baths
1.5
Stories
1
Lot width
70 ft.
Lot depth
125 ft.
Lot size
8,750 Sq. Ft.
Year renovated
—
Finished Sq. Ft.
1,238
Unfinished Sq. Ft.
—
Total Sq. Ft.
1,238
Year built
1968
Style
Single Family Residential
County
Shelby County
APN
076001 00041
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Aug 25, 2026.
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 electrical
Replace the electrical panel and repair the ground rod and meter base.
Electrical
Electric meter
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.
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
17% chance of strong winds in next 30 years
2/10 Air Factor
2 unhealthy days expected this year, 2 days in 30 years
Provided by First Street
Historical weather
Memphis, TN • 38109
Average low and high temperatures (°F)
46
30
56
38
71
50
77
58
78
63
87
72
92
76
89
71
85
67
77
57
65
49
54
39
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
92/ 100
Exceptional sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
10.2 hrs
6.8 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 3637 Neely Rd
$160,847
$847 over list price of $160K
Nearby comparable homes
The Redfin Estimate uses 4 recent nearby sales, priced between $81K to $180K.