1589 E Mclemore Ave Memphis, TN 38106
Southeast Memphis NeighborhoodEstimated payment $994/month
Highlights
- Deck
- Porch
- Luxury Vinyl Tile Flooring
- Traditional Architecture
- Brick Veneer
- Central Heating and Cooling System
About This Home
ATTENTION INVESTORS! Professionally managed in-house, Tenant-occupied, investment property generating $1,325/month in rental income with a 5.76% cash-on-cash return and a monthly cash flow of $243.47. Financials available upon request. This low-maintenance asset has undergone significant capital improvements, including a new HVAC system, new roof with replaced decking, renovated kitchen, full interior paint, updated electrical fixtures and outlets, plumbing upgrades, and enhanced safety features. Major systems have been addressed, helping reduce near-term maintenance and capital expenditure risk. A stabilized, income-producing property with strong long-term rental appeal and immediate cash flow from day one. No wholesalers, assignments, or creative financing. TENANTED PROPERTY: DO NOT APPROACH OR DISTURB TENANTS, NO SHOWINGS WITHOUT AN ACCEPTED OFFER. Leased through 6/2/2028 at $1,325/month. Owner/Agent
Home Details
Home Type
- Single Family
Year Built
- Built in 1927
Lot Details
- 6,098 Sq Ft Lot
- Lot Dimensions are 45x137
- Wood Fence
- Few Trees
Parking
- Driveway
Home Design
- Traditional Architecture
- Brick Veneer
Interior Spaces
- 1,400-1,599 Sq Ft Home
- 1,433 Sq Ft Home
- 1-Story Property
- Luxury Vinyl Tile Flooring
Bedrooms and Bathrooms
- 3 Main Level Bedrooms
- 1 Full Bathroom
Outdoor Features
- Deck
- Porch
Utilities
- Central Heating and Cooling System
Community Details
- Magnolia Terr Subdivision
Listing and Financial Details
- Assessor Parcel Number 031027 00060
Map
Home Values in the Area
Average Home Value in this Area
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 | $423 | $20,225 | $6,575 | $13,650 |
| 2024 | $423 | $12,475 | $1,250 | $11,225 |
| 2023 | $760 | $12,475 | $1,250 | $11,225 |
| 2022 | $760 | $12,475 | $1,250 | $11,225 |
| 2021 | $769 | $12,475 | $1,250 | $11,225 |
| 2020 | $701 | $9,675 | $1,250 | $8,425 |
| 2019 | $309 | $9,675 | $1,250 | $8,425 |
| 2018 | $0 | $0 | $0 | $0 |
| 2017 | $0 | $0 | $0 | $0 |
| 2016 | $0 | $0 | $0 | $0 |
| 2014 | $506 | $11,575 | $0 | $0 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 06/01/2026 06/01/26 | Price Changed | $176,900 | -1.7% | $126 / Sq Ft |
| 03/03/2026 03/03/26 | For Sale | $179,900 | 0.0% | $129 / Sq Ft |
| 12/11/2025 12/11/25 | Off Market | $179,900 | -- | -- |
| 04/29/2025 04/29/25 | For Sale | $179,900 | -- | $129 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $100,000 | On Point Title | |
| Quit Claim Deed | -- | None Available | |
| Quit Claim Deed | $4,200 | None Available | |
| Warranty Deed | $22,500 | -- |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $135,000 | New Conventional |
Source: Memphis Area Association of REALTORS®
MLS Number: 10195308
APN: 03-1027-0-0060
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