$650,000
SOLD AUG 26, 2025

242 Lake Dr Ripley, TN 38063

28 Beds
-- Bath
12,900 Sq Ft
1971 Built

Recently Sold

$50 Per Sq Ft

7% Below List Price

1 Day on Market

About This Home

As of August 2025

2-Six-unit apartment buildings and a duplex located in great area of Ripley known as 242,254, 238 Lake Drive Ripley, TN

Last Agent to Sell the Property

Randy Lankford

Lankford Realty Co. License #205520 Listed on: 08/21/2025

Last Buyer's Agent

Hayden Edmondson

Epique Realty License #355812

Home Details

Home Type

  • Single Family

Year Built

  • Built in 1971

Parking

  • Paved Parking

Home Design

  • Brick Exterior Construction
  • Slab Foundation
  • Composition Roof

Interior Spaces

  • 12,900 Sq Ft Home
  • 2-Story Property
  • Washer and Dryer Hookup

Flooring

  • Partially Carpeted
  • Vinyl

Utilities

  • Central Heating and Cooling System
  • Heating System Uses Gas
  • Electric Water Heater

Community Details

  • 14 Units

Listing and Financial Details

  • Tenant pays for all utilities

Home Details

Home Type

Single Family

Year Built

Built in 1971

Lot Details

0

Listing Details

  • Class: Multi-Family
  • Type: Apartment Building
  • MLS Map #: 691
  • MAAR Subdivision Name: 00
  • Freestanding: Yes
  • Number Of Stories: 2
  • Estimated Sq Ft: 12900
  • Year Built: 1971
  • Construction: Brick
  • List Price/ Sq Ft: 54
  • Special Features: None
  • Property Sub Type: Detached
  • Stories: 2

Interior Features

  • Floors/Ceilings: Vinyl Floor, Partial Carpet

Exterior Features

  • Foundation: Slab
  • Roof: Composition

Garage/Parking

  • Parking Facility: Asphalt/Blacktop

Utilities

  • Hot Water: Electrical
  • Cooling Systems: Central
  • Heating Systems: Central, Gas
  • Laundry: Connections

Lot Info

  • Lot Size: 1.5
  • Geo Subdivision: TN

Rental Info

  • Tenant Pays: All Utilities
  • Type Of Leases: Monthly

Multi Family

  • Total Number Of Units: 14
  • Number2 Bedroom Units: 14
  • Type of Unit: 2 BR - 1 Bath

Range of Values:

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Average Value
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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

Property History

Date Event Price Change Sq Ft Price
08/26/2025 08/26/25 Sold $650,000 -7.1% $50 / Sq Ft
08/22/2025 08/22/25 Pending -- -- --
08/21/2025 08/21/25 For Sale $700,000 -- $54 / Sq Ft
Source: Memphis Area Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Randy Lankford

    Seller's Agent in 2025

    Randy Lankford

    Lankford Realty Co.

    (731) 635-5511

    82 in this area

    194 Total Sales

    Randy Lankford
    Section Image
  • Hayden Edmondson

    Buyer's Agent in 2025

    Hayden Edmondson

    Epique Realty

    (731) 439-0244

    3 in this area

    143 Total Sales

    Hayden Edmondson
    Section Image
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Map

Source: Memphis Area Association of REALTORS®

MLS Number: 10204084

Memphis Area Association of REALTORS®
Tennessee Lauderdale County Ripley 38063

242 Lake Dr, Ripley, TN

This home is located at 242 Lake Dr, Ripley, TN 38063 and is currently priced at $650,000, approximately $50 per square foot. This property was built in 1971. 242 Lake Dr is a home located in Lauderdale County with nearby schools including Ripley Primary School, Ripley Elementary School, and Ripley Middle School.

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