Investor-friendly opportunity with immediate rental income! This recently renovated 3-bedroom, 1-bath home is tenant occupied with a lease in place from 7/1/2026 through 7/1/2028, offering stability from day one. Updated and income-producing, this property is a great addition to any rental portfolio. Ideal for investors seeking a turnkey, cash-flowing asset with a long-term tenant already secured.
Single-familyProperty Type
1955Year Built
8,276 sq ftLot Size
Listed by Trevor Wallace• Crye-Leike, Inc., REALTORS
South Memphis Planning Dist, located between Downtown Memphis and the Mississippi state line, is a historic and industrial Memphis neighborhood with rail corridors and landmark music sites. The neighborhood’s character concentrates around the Stax Museum of American Soul Music on McLemore Avenue, where museumgoers, murals, and small local storefronts set a grounded, creative tone. Stax Museum of American Soul Music, The Four Way Soul Food Restaurant, and Earnestine & Hazel’s anchor local culture with deep Memphis roots. Housing ranges from early-20th-century cottages to brick mid-century blocks, with wide streets and working corridors shaping the streetscape. Martin Luther King Jr. Riverside Park and the riverfront add open-air breathing room. Major arterials like South Parkway and Elvis Presley Boulevard frame daily movement across the district.
Provided by Walk Score and Local Logic
Offer insights
380 Elder Rd · $99,900
$100K and above
75% chance or better to win
Why $100K+ is a strong offer
DAYS ON MARKET
24 days
The average home goes pending in 38 days.
SALE-TO-LIST
96.8%
Most homes are selling 3% below list price.
About offer insights
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Interior features
Single-story layout
Five total rooms
Vinyl flooring
Separate living room and eat-in kitchen
Renovated bathroom
All bedrooms located on the main level
Bedrooms
3 bedrooms (all on the main level)
Bathrooms
1 full bathroom (renovated)
Kitchen
Eat-in kitchen
Flooring
Vinyl floors
Heating & cooling
Central heating
Central cooling
Exterior features
No pool
Other exterior details noted in remarks
Home design
Detached single-family home
Traditional style
Built in 1955
Parking
Other parking/ storage (see remarks)
Construction
Existing property (constructed 1955)
Utilities
Central heating and cooling
Electricity and solar
View estimated energy costs and solar savings for this home
Memphis Area Association of Realtors(R) MLS #10229259
Aug 25, 2026
Listed
$99,900
RENTLY #3
Jun 28, 2026
Rental Removed
$995
May 30, 2026
Price Changed
$995
Mar 22, 2026
Listed for Rent
$1,000
BUILDIUM #2
Mar 21, 2026
Rental Removed
$1,000
Mar 21, 2026
Listed for Rent
$1,000
REALTRACS as Distributed by MLS Grid #3084038
Jan 14, 2026
Listing Removed
—
Jan 14, 2026
Listed
$69,900
Public Records
Aug 21, 2024
Sold
$85,500
Memphis Area Association of Realtors(R) MLS #1
Nov 30, 2018
Price Changed
$61,000
Oct 13, 2018
Price Changed
$39,500
Public Records
Mar 12, 1993
Sold
$28,000
Year
Property tax
Land + Additions
Assessment*
2025
$709 (+88.0%)
$1,875 + $11,575
$13,450
2024
$377 (+8.1%)
$1,875 + $11,575
$13,450
2023
$349
$1,350 + $4,375
$5,725
2022
$349 (−1.2%)
$1,350 + $4,375
$5,725
2021
$353 (−18.2%)
$1,350 + $4,375
$5,725
2020
$431
$1,350 + $4,375
$5,725
2019
$431
$1,350 + $4,600
$5,950
2018
$431 (+76.3%)
$1,350 + $4,600
$5,950
2017
$245 (−11.1%)
$1,350 + $4,600
$5,950
2016
$275
$1,350 + $4,600
$5,950
2014
$275
$1,350 + $4,950
$6,300
Public record
Public record
Zoning
Permits
Beds
3
Baths
1
Stories
1
Lot width
48 ft.
Lot depth
150 ft.
Lot size
8,325 Sq. Ft.
Year renovated
—
Finished Sq. Ft.
808
Unfinished Sq. Ft.
—
Total Sq. Ft.
808
Year built
1954
Style
Single Family Residential
County
Shelby County
APN
075087 00023
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jun 16, 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
Feb 10, 2026 • Final
Residential alteration
Remove and replace windows.
Remodel
Jan 22, 2026 • Final
Residential electrical
Reinstall an electrical meter.
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
16% 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
82/ 100
Very good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
10.4 hrs
6.3 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 380 Elder Rd
$97,011
$2,889 under list price of $100K
Nearby comparable homes
The Redfin Estimate uses 5 recent nearby sales, priced between $60K to $122K.