INVESTORS ONLY! Tenant occupied 3 bed 1.5 bath home. Currently rented at $1498/mo. This could be a great addition to your rental portfolio. Seller also selling 1902 Farrington, and 905 Annie. Can buy in bulk or individually. No sign in the yard. Please do not disturb or approach the tenant. No Creative or Owner Financed Offers. No Wholesale or Assignment.
Single-familyProperty Type
1954Year Built
8,712 sq ftLot Size
Listed by Tyler Tapley• 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
Market insights
386 Elder Rd · $88,000
DAYS ON MARKET
212 days
The average home goes pending in 37 days.
SALE-TO-LIST
96.9%
Most homes are selling 3% below list price.
LIST PRICE
$88,000
Median sale price in this area is $279,084. (217% higher than this home)
PRICE DROP
3 price drops
23% of homes in this area have had a price drop in the past month.
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Interior features
Tile floors
Pantry
Six total rooms
Single-story home
All bedrooms on the main level
Bedrooms
3 bedrooms
Master bedroom approximately 12 x 10
Bathrooms
1 full bathroom
1 half bathroom
Kitchen
Kitchen approximately 17 x 8
Pantry
Flooring
Tile
Heating & cooling
Central heating
Central air conditioning
Exterior features
Porch
Patio
Wrought iron security doors
Some trees on lot
Home design
Detached single-family home
Traditional style
Built in 1954
Parking
Driveway/pad
Security
Wrought iron security doors
Construction
Vinyl siding
Electricity and solar
View estimated energy costs and solar savings for this home
Memphis Area Association of Realtors(R) MLS #10213197
Aug 5, 2026
Price Changed
$88,000
Jul 28, 2026
Price Changed
$95,000
Mar 17, 2026
Price Changed
$105,000
Jan 19, 2026
Listed
$110,000
Memphis Area Association of Realtors(R) MLS #10151964
Nov 7, 2023
Sold
$76,750
Oct 10, 2023
Price Changed
$79,900
Sep 4, 2023
Price Changed
$89,900
Aug 22, 2023
Price Changed
$99,900
Jul 11, 2023
Listed
$115,900
+20
SERIOUSLY!! Own a Walker Home 3 bed, 2 bath + large Den! It's for real - own this beauty with EZ qualifying - ceiling fans, mini blinds, newer roof, fenced yard, washer/dryer hook ups, wall heater, window ac units, vinyl wood floors throughout. Invest in yourself! Stop Reading Start Calling!
RENT. #1
Nov 22, 2022
Rental Removed
—
Public Records
Nov 1, 1954
Sold
$7,700
Year
Property tax
Land + Additions
Assessment*
2025
$1,016 (+118.8%)
$1,900 + $17,375
$19,275
2024
$464 (+8.1%)
$1,900 + $17,375
$19,275
2023
$429
$1,375 + $5,675
$7,050
2022
$429 (−1.2%)
$1,375 + $5,675
$7,050
2021
$435 (−18.1%)
$1,375 + $5,675
$7,050
2020
$531
$1,375 + $5,675
$7,050
2019
$531
$1,375 + $5,950
$7,325
2018
$531 (+76.3%)
$1,375 + $5,950
$7,325
2017
$301 (−11.2%)
$1,375 + $5,950
$7,325
2016
$339
$1,375 + $5,950
$7,325
2014
$339
$1,375 + $6,400
$7,775
Public record
Public record
Zoning
Beds
3
Baths
1
Stories
1
Lot width
46 ft.
Lot depth
152 ft.
Lot size
9,021 Sq. Ft.
Year renovated
1989
Finished Sq. Ft.
1,168
Unfinished Sq. Ft.
—
Total Sq. Ft.
1,168
Year built
1954
Style
Single Family Residential
County
Shelby County
APN
075087 00024
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 14, 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
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.
9 hrs
5.3 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 386 Elder Rd
$78,563
$9,437 under list price of $88K
Nearby comparable homes
The Redfin Estimate uses 5 recent nearby sales, priced between $71K to $125K.