NOT LISTED FOR SALE

1005 Palermo Ave Memphis, TN 38106

South Memphis Neighborhood

Estimated Value: $81,000 - $92,000

2 Beds
1 Bath
828 Sq Ft
$106/Sq Ft Est. Value

Last Sold April 25, 2022

Last sale price $25,000 $30 Per Sq Ft

Est. 252% increase in value since last sale

Current estimated payment $482/month

Highlights

  • Traditional Architecture
  • Separate Formal Living Room
  • Porch
  • Wood Flooring
  • Some Wood Windows
  • Dining Room

About This Home

As of April 2022

Investors perfect for a Fix and Flip! No blind offers please view Fix or rent! Seller will not turn on utilities! Needs a trash out! Needs a Rehab! Contact me for info. No Blind Offers Please verify all items for yourself No Blind Offers! Property has been vacant for several years. Seller prefers offers with no contingencies. AS IS! Call or text to verify that your offer is received! Do your due diligence before sending any offers! Crye-Leike holds earnest money Atty for seller Regency Title

Last Agent to Sell the Property

Frances Anderson

Crye-Leike, Inc., REALTORS License #274051 Listed on: 08/10/2021

Crye-Leike, Inc., REALTORS

Last Buyer's Agent

Tyler Tapley

Crye-Leike, Inc., REALTORS License #296080

Crye-Leike, Inc., REALTORS

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $222

Year Built

  • Built in 1941

Lot Details

  • 6,970 Sq Ft Lot
  • Lot Dimensions are 50x140
  • Level Lot
  • Few Trees

Parking

  • Driveway

Home Design

  • Traditional Architecture

Interior Spaces

  • 828 Sq Ft Home
  • 1-Story Property
  • Some Wood Windows
  • Separate Formal Living Room
  • Dining Room
  • Storm Doors
  • Washer and Dryer Hookup

Flooring

  • Wood
  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 2 Main Level Bedrooms
  • 1 Full Bathroom

Outdoor Features

  • Porch

Community Details

  • Hernando Terrace Blk B Subdivision

Listing and Financial Details

  • Assessor Parcel Number 034068 00005

Home Details

Home Type

Single Family

Est. Annual Taxes

$222

Year Built

Built in 1941

Lot Details

0

Listing Details

  • Class: Residential
  • Type: Detached Single Family
  • Style: Traditional
  • Detached Unit Type: General Residential
  • MAAR Subdivision Name: HERNANDO TERRACE BLK B
  • List Price Per Sq Ft: 30
  • Number Of Stories: 1
  • Prop Construction Status: Existing Property
  • Estimated Sq Ft: 828
  • Year Built: 1941
  • Special Features: None
  • Property Sub Type: Detached
  • Stories: 1

Interior Features

  • Additional Bedroom Bathroom Info: All Bedrooms Down
  • Estimated Heated Sq Ft Range: 0-999
  • Bedroom 2 Description: Level 1
  • Bedrooms: 2
  • Bedrooms Down: 2
  • Floors/Ceilings: Part Hardwood, Tile, Vinyl Floor
  • Full Bathrooms: 1
  • Living Dining Kitchen: Separate Living Room, Separate Dining Room, Washer/Dryer Connections
  • P R I M A R Y B E D R O O M: Level 1

Exterior Features

  • Misc Exterior: Porch
  • Exterior Windows: Wood/Composition, Storm Door(s)

Garage/Parking

  • Parking Storage: Driveway/Pad

Lot Info

  • Lot Description: Some Trees, Level
  • Lot Number: 27
  • Acreage: 0.16
  • Lot Size: 50X140

Tax Info

  • Assessor Parcel Number: 034068 00005

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Dec 22, 2022
Sold by
South Street Llc
Bought by
Prager Private Equity Llc
Current Estimated Value
$88,074

Purchase Details

Listed on
Aug 10, 2021
Closed on
Apr 29, 2022
Sold by
South Street Llc Inc
Bought by
K & W Legacy Llc
Seller's Agent
Frances Anderson
Crye-Leike, Inc., REALTORS
Buyer's Agent
Tyler Tapley
Crye-Leike, Inc., REALTORS
List Price
$40,000
Sold Price
$25,000
Premium/Discount to List
-$15,000
-37.5%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
43.16%
Original Mortgage
$55,000
Interest Rate
4.67%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 10, 2015
Sold by
Caf B L 2015 Llc
Bought by
Ct Amm B2 Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$7,410,000
Interest Rate
4.01%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 19, 2014
Sold by
Nitch Holdings Llc
Bought by
Prager Property Owners 2 Llc

Purchase Details

Closed on
Mar 21, 2013
Sold by
Carson Celeste Kelly Farrow Vaiden and Yeaglin Thomas D
Bought by
Nitch Holdings Llc
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Prager Private Equity Llc -- None Listed On Document
K & W Legacy Llc $25,000 Regency Title & Escrow
South Street Llc -- Regency Title & Escrow
K & W Legacy Llc $25,000 Saddle Creek Title
Ct Amm B2 Llc -- None Available
Prager Property Owners 2 Llc $225,430 None Available
Nitch Holdings Llc $135,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner K & W Legacy Llc $55,000
Previous Owner Ct Amm B2 Llc $7,410,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/25/2022 04/25/22 Sold $25,000 0.0% $30 / Sq Ft
04/05/2022 04/05/22 Pending -- -- --
03/31/2022 03/31/22 Price Changed $25,000 -28.6% $30 / Sq Ft
02/18/2022 02/18/22 Price Changed $35,000 -14.1% $42 / Sq Ft
08/25/2021 08/25/21 Price Changed $40,740 +1.9% $49 / Sq Ft
08/10/2021 08/10/21 For Sale $40,000 -- $48 / Sq Ft
Source: Memphis Area Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $222 $23,725 $2,000 $21,725
2024 $222 $6,550 $1,000 $5,550
2023 $399 $6,550 $1,000 $5,550
2022 $399 $6,550 $1,000 $5,550
2021 $474 $6,550 $1,000 $5,550
2020 $375 $5,175 $1,000 $4,175
2019 $165 $5,175 $1,000 $4,175
2018 $165 $5,175 $1,000 $4,175
2017 $169 $5,175 $1,000 $4,175
2016 $236 $5,400 $0 $0
2014 $236 $5,400 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Frances Anderson

    Seller's Agent in 2022

    Frances Anderson

    Crye-Leike

    (901) 260-5844

    7 in this area

    148 Total Sales

    Frances Anderson
    Section Image
  • Tyler Tapley

    Buyer's Agent in 2022

    Tyler Tapley

    Crye-Leike, Inc., REALTORS

    (901) 871-1290

    83 in this area

    1,198 Total Sales

    Tyler Tapley
    Section Image
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Map

Source: Memphis Area Association of REALTORS®

MLS Number: 10106138

Memphis Area Association of REALTORS®

APN: 03-4068-0-0005

Tennessee Shelby County Memphis 38106 South Memphis

1005 Palermo Ave, Memphis, TN

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