Solid 2 bedroom, 1 bath investment property in Memphis's Highland Heights area, offered to serious investment buyers. A long-term tenant is currently in place on a month-to-month lease, providing established rental income with the flexibility a month-to-month arrangement offers a new owner going forward. Property will not be shown until an offer is accepted buyer to underwrite on rent roll and photos, with inspection contingency as needed. Cash or conventional financing only; no creative financing (no seller financing, subject-to, wraps, or lease-options will be considered). Highlights: 2 bed / 1 bath Tenant is paying $550/mo Highland Heights area of Memphis Long-term tenant in place, month-to-month No showings prior to accepted offer Cash or conventional financing only no creative financing
Nutbush, located between Highland Heights and Berclair, is a residential and commercial Memphis neighborhood with mid-century brick ranches and a storied musical legacy. The neighborhood’s energy concentrates around the Macon Rd and Graham St corridor, where barbershops, beauty salons, takeout counters, and small storefronts set a steady, everyday rhythm. Broad lawns, deep setbacks, and tidy one-story homes define many blocks, while Macon Road carries the area’s working retail spine. The Nutbush community is closely tied to the Tina Turner Museum at Flagg Grove School, a touchstone for local history. Nearby, the Memphis Brooks Museum of Art and the Memphis Zoo add cultural gravity beyond the neighborhood’s edges.
Provided by Walk Score and Local Logic
Offer insights
4078 Grey Rd · $59,900
$60.25K and above
75% chance or better to win
Why $60.25K+ is a strong offer
DAYS ON MARKET
1 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
Interior features
4 total rooms
Single-story
Floors/ceilings: Other (see remarks)
All bedrooms located on the main level
Separate living room
Bedrooms
2 bedrooms (all on the main level)
Bathrooms
1 full bathroom
Heating & cooling
Central heating
Central cooling
Exterior features
Wrought iron security doors
Windows: Other (see remarks)
Level lot
Home design
Detached single-family home
Traditional style
Built in 1952
Parking
Driveway/pad
Security
Wrought iron security doors
Construction
Conventional foundation
Composition shingle roof
Electricity and solar
View estimated energy costs and solar savings for this home
Memphis Area Association of Realtors(R) MLS #10230872
Sep 22, 2026
Listed
$59,900
Public Records
Aug 26, 1991
Sold
$36,000
Public Records
Oct 27, 1988
Sold
$36,000
Year
Property tax
Land + Additions
Assessment*
2025
$868 (+41.8%)
$4,125 + $12,350
$16,475
2024
$612 (+8.1%)
$4,125 + $12,350
$16,475
2023
$567
$1,550 + $7,750
$9,300
2022
$567 (−1.2%)
$1,550 + $7,750
$9,300
2021
$573 (+8.7%)
$1,550 + $7,750
$9,300
2020
$527
$1,550 + $7,750
$9,300
2019
$527
$1,550 + $5,725
$7,275
2018
$527 (+76.3%)
$1,550 + $5,725
$7,275
2017
$299 (−17.9%)
$1,550 + $5,725
$7,275
2016
$364
$1,550 + $5,725
$7,275
2014
$364
$1,550 + $6,800
$8,350
Public record
Public record
Zoning
Beds
2
Baths
1
Stories
1
Lot width
60 ft.
Lot depth
123 ft.
Lot size
7,842 Sq. Ft.
Year renovated
—
Finished Sq. Ft.
808
Unfinished Sq. Ft.
—
Total Sq. Ft.
808
Year built
1952
Style
Single Family Residential
County
Shelby County
APN
053050 00029
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 13, 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
18% chance of strong winds in next 30 years
4/10 Air Factor
4 unhealthy days expected this year, 5 days in 30 years
Provided by First Street
Historical weather
Memphis, TN • 38108
Average low and high temperatures (°F)
46
30
57
37
71
50
77
58
79
63
88
72
92
77
90
71
85
67
78
56
65
49
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
Redfin Estimate for 4078 Grey Rd
$59,173
$727 under list price of $60K
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $72K to $125K.