NOT LISTED FOR SALE

502 S Main St Unit 2 Memphis, TN 38103

South Main Neighborhood

Estimated Value: $223,000 - $312,000

2 Beds
2.5 Baths
1,200-1,399 Sq Ft
1,786 Sq Ft

Last Sold April 02, 2015

Last sale price $140,000 $100 Per Sq Ft

Est. 95% increase in value since last sale

Current estimated payment $1,631/month

57 Days on Market

Highlights

  • Updated Kitchen
  • 3-minute walk to Central Station
  • Home Office
  • Deck
  • Soft Contemporary Architecture
  • 3-minute walk to Army Park

About This Home

As of April 2015

Great LOCATION! Very Cool mulit-level condo in the best part of South Main Historic District. 2 BD+Flex area, 2.5 Bath, 2 gated (uncovered) parking places, front and rear entry. Could use some updating but great price and location. Also see 502 S Main #1 for sale in MLS, these units are both for sale and could be combined to make one large over 3,000 sf condo!

Last Agent to Sell the Property

Chris Garland

Crye-Leike, Inc., REALTORS License #232993 Listed on: 12/29/2014

Crye-Leike, Inc., REALTORS

Last Buyer's Agent

Stephanie Cobb

Bridge Realty Memphis License #326704

Property Details

Home Type

  • Condominium

Year Built

  • Built in 1913

Lot Details

  • 1,786

Home Design

  • Soft Contemporary Architecture
  • Brick Veneer

Interior Spaces

  • 1,200-1,399 Sq Ft Home
  • 1,325 Sq Ft Home
  • 1-Story Property
  • Factory Built Fireplace
  • Some Wood Windows
  • Combination Dining and Living Room
  • Home Office

Kitchen

  • Updated Kitchen
  • Microwave
  • Dishwasher

Flooring

  • Partially Carpeted
  • Tile

Bedrooms and Bathrooms

  • 2 Bedrooms
  • Primary bedroom located on second floor
  • All Upper Level Bedrooms
  • Primary Bathroom is a Full Bathroom

Parking

  • 2 Car Attached Garage
  • Driveway

Outdoor Features

  • Deck

Utilities

  • Central Heating and Cooling System
  • Heating System Uses Gas

Community Details

  • Property has a Home Owners Association
  • Association fees include water/sewer, exterior maintenance, exterior insurance, parking
  • 3 Units
  • 502 S Main Community
  • 502 South Main Street Subdivision
  • Property managed by Woodard

Listing and Financial Details

  • Assessor Parcel Number 002114 A00002

Property Details

Home Type

Condominium

Year Built

Built in 1913

Lot Details

1,786 Sq Ft Lot

Listing Details

  • Class: Residential
  • Type: Attached Single Family
  • Style: Soft Contemporary
  • Cross Street: GE Patterson
  • MAAR Subdivision Name: 502 SOUTH MAIN CONDOMINIUMS
  • Condo: Yes
  • Historic District: South Main Street HP
  • List Price Per Sq Ft: 120
  • Number Of Stories: 1
  • Prop Construction Status: Existing Property
  • Estimated Sq Ft: 1325
  • Year Built: 1913
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 1

Interior Features

  • First Story Floor Plan: 1/2 Bath, Office
  • Second Story Floor Plan: Den/Great Room, Kitchen, Primary Bedroom, 2nd Bedroom
  • Additional Bedroom Bathroom Info: All Bedrooms Up
  • Estimated Heated Sq Ft Range: 1200-1399
  • Bedroom 2 Description: Level 2, Shared Bath
  • Bedrooms: 2
  • Fireplace: Prefabricated
  • Floors/Ceilings: Part Carpet
  • Full Bathrooms: 2
  • Half Bathrooms: 1
  • Equipment: Dishwasher, Microwave, Refrigerator
  • Living Dining Kitchen: LR/DR Combination, Updated/Renovated Kitchen
  • Number Of Fireplaces: 1
  • Primary Bathroom Description: Tile Floor
  • P R I M A R Y B E D R O O M: Level 2, Full Bath

Exterior Features

  • Misc Exterior: Deck
  • Exterior Windows: Brick Veneer, Wood Window(s)

Garage/Parking

  • Attached Detached Parking: Attached
  • Number Covered Parking Spaces: 2
  • Parking Display: 2A
  • Parking Storage: Driveway/Pad

Utilities

  • Cooling: Central
  • Heating: Central, Gas
  • Water Sewer: Public Water, Public Sewer

Association/Amenities

  • Condo Fees Include: Water/Sewer, Exterior Maintenance, Exterior Insurance, Parking
  • Condominium Association: Yes
  • Condominium Name: 502 S Main
  • Management Company: Woodard

Lot Info

  • Lot Number: UNIT 2

Tax Info

  • Assessor Parcel Number: 002114 A00002

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jun 24, 2019
Sold by
Cobb Properties Llc
Bought by
Cdf Tennessee Properties Llc
Current Estimated Value
$273,175

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$375,000
Interest Rate
4%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 30, 2015
Sold by
Cobb Stephanie G
Bought by
Cobb Properties Llc

Purchase Details

Listed on
Dec 29, 2014
Closed on
Apr 2, 2015
Sold by
Schaffer Jillian Renae and Schaffer Steven G
Bought by
Cobb Stephanie C
Seller's Agent
Chris Garland
Crye-Leike, Inc., REALTORS
Buyer's Agent
Stephanie Cobb
Bridge Realty Memphis
List Price
$159,000
Sold Price
$140,000
Premium/Discount to List
-$19,000
-11.95%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.34%

Purchase Details

Closed on
Jul 29, 2004
Sold by
Reed Shanna
Bought by
Schaffer Jillian Renae and Schaffer Steven G

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$120,000
Interest Rate
6.19%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Dec 31, 2002
Sold by
Mccullough Scott
Bought by
Reed Shanna

Purchase Details

Closed on
Mar 14, 2002
Sold by
Woodard Philip and Tashie Paul
Bought by
Mccullough Shanna and Mccullough Scott R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$138,700
Interest Rate
6.8%
Mortgage Type
Seller Take Back
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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

Purchase History

Date Buyer Sale Price Title Company
Cdf Tennessee Properties Llc $820,000 Memphis Title Company
Cobb Properties Llc -- Attorney
Cobb Stephanie C $140,000 None Available
Schaffer Jillian Renae $167,000 --
Reed Shanna -- --
Mccullough Shanna $146,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed Cdf Tennessee Properties Llc $375,000
Previous Owner Schaffer Jillian Renae $120,000
Previous Owner Mccullough Shanna $138,700
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/02/2015 04/02/15 Sold $140,000 -11.9% $117 / Sq Ft
02/24/2015 02/24/15 Pending -- -- --
12/29/2014 12/29/14 For Sale $159,000 -- $133 / Sq Ft
Source: Memphis Area Association of REALTORS®

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 $2,736 $100,880 $14,120 $86,760
2024 $2,736 $80,720 $14,120 $66,600
2023 $4,917 $80,720 $14,120 $66,600
2022 $4,917 $80,720 $14,120 $66,600
2021 $2,785 $80,720 $14,120 $66,600
2020 $5,075 $70,040 $14,120 $55,920
2019 $2,629 $70,040 $14,120 $55,920
2018 $2,629 $70,040 $14,120 $55,920
2017 $2,682 $70,040 $14,120 $55,920
2016 $2,762 $63,200 $0 $0
2014 $1,726 $39,500 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Chris Garland

    Seller's Agent in 2015

    Chris Garland

    Crye-Leike

    (901) 338-3226

    31 in this area

    119 Total Sales

    Chris Garland
    Section Image

  • S

    Buyer's Agent in 2015

    Stephanie Cobb

    Bridge Realty Memphis

    Section Image
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Map

Source: Memphis Area Association of REALTORS®

MLS Number: 9942223

Memphis Area Association of REALTORS®

APN: 00-2114-A0-0002

Tennessee Shelby County Memphis 38103 South Main

502 S Main St Unit 2, Memphis, TN

Not Listed for Sale

Condos

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