NOT LISTED FOR SALE

505 Tennessee St Unit 321 Memphis, TN 38103

South Main Neighborhood

Estimated Value: $377,000 - $478,000

1 Bed
1.5 Baths
2,200-2,399 Sq Ft
610 Sq Ft Lot

Last Sold April 18, 2023

Last sale price $473,000 $197 Per Sq Ft

Est. 13% decrease in value since last sale

Current estimated payment $2,463/month

53 Days on Market

Highlights

  • Water Views
  • 3-minute walk to Central Station
  • Sauna
  • Fitness Center
  • In Ground Pool
  • 2-minute walk to Butler Park

About This Home

As of April 2023

Beautifully updated 1BR/1.5BA condo available in the Lofts @ South Bluffs! This loft has 15 foot ceilings, sealed brick walls on the north & east sides, raised living area with electric fireplace, all walls freshly painted. Added large bar area with granite counters, rustic shelving with LED back-lighting, 50-bottle wine fridge. Primary BA renovated as well with new tile bath/shower surround, granite counter & new tile floor & doors. Kitchen has new pendants, added walk-in pantry. Come see!

Last Agent to Sell the Property

Mike Parker

The Firm License #284810 Listed on: 02/11/2023

Last Buyer's Agent

Mike Parker

The Firm License #284810 Listed on: 02/11/2023

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $3,217

Year Built

  • Built in 1909

Lot Details

  • Brick Fence
  • Level Lot

Home Design

  • Traditional Architecture
  • Built-Up Roof

Interior Spaces

  • 2,200-2,399 Sq Ft Home
  • 2,233 Sq Ft Home
  • 1-Story Property
  • Smooth Ceilings
  • Ceiling height of 9 feet or more
  • Fireplace With Glass Doors
  • Window Treatments
  • Aluminum Window Frames
  • Entrance Foyer
  • Living Room with Fireplace
  • Dining Room
  • Loft
  • Storage Room
  • Sauna
  • Water Views

Kitchen

  • Updated Kitchen
  • Breakfast Bar
  • Self-Cleaning Oven
  • Microwave
  • Disposal

Flooring

  • Partially Carpeted
  • Laminate
  • Concrete
  • Tile

Bedrooms and Bathrooms

  • Sitting Area In Primary Bedroom
  • 1 Primary Bedroom on Main
  • Primary Bedroom Upstairs
  • Walk-In Closet
  • Remodeled Bathroom
  • Primary Bathroom is a Full Bathroom

Laundry

  • Laundry Room
  • Dryer
  • Washer

Basement

  • Partial Basement
  • Shared Basement

Home Security

Parking

  • 2 Car Detached Garage
  • Front Facing Garage
  • Unassigned Parking

Pool

  • In Ground Pool
  • Pool Equipment or Cover

Outdoor Features

  • Covered Patio or Porch
  • Outdoor Storage
  • Outdoor Gas Grill

Location

  • The property is located in a historic district

Utilities

  • Central Heating and Cooling System
  • Shared Hot Water
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 002083 D00067

Community Details

Overview

  • Property has a Home Owners Association
  • $863 Maintenance Fee
  • Association fees include some utilities, water/sewer, trash collection, exterior maintenance, grounds maintenance, management fees, exterior insurance, reserve fund, parking, pest control contract
  • 122 Units
  • Mid-Rise Condominium
  • Lofts @ South Bluffs Community
  • Lofts @ South Bluffs Condos Third Amend Subdivision
  • Property managed by Wright Property Mgmt

Amenities

  • Sauna
  • Trash Chute
  • Clubhouse
  • Community Storage Space

Recreation

  • Fitness Center
  • Community Pool

Pet Policy

  • No Pets Allowed

Security

  • Gated Community
  • Fire and Smoke Detector
  • Fire Sprinkler System

Property Details

Home Type

Condominium

Est. Annual Taxes

$3,217

Year Built

Built in 1909

Lot Details

0

Listing Details

  • Class: Residential
  • Type: Attached Single Family
  • Style: Traditional
  • Attached Unit Type: Mid Rise (3-6 Stories)
  • Cross Street: G E Patterson Ave.
  • MLS Map #: 745A
  • MAAR Subdivision Name: LOFTS AT SOUTH BLUFFS CONDOMINIUMS
  • Condo: Yes
  • Historic District: South Main Street HP
  • List Price Per Sq Ft: 224
  • Number Of Stories: 1
  • Price Per Sq Ft: 211.82
  • Prop Construction Status: Existing Property
  • Estimated Sq Ft: 2233
  • Year Built: 1909
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 1

Interior Features

  • First Story Floor Plan: Living Room, Dining Room, Kitchen, Primary Bedroom, 1/2 Bath, 1 Bath, Laundry Room
  • Additional Bedroom Bathroom Info: Primary Up, Renovated Bathroom, Luxury Primary Bath, Half Bath Down
  • Estimated Heated Sq Ft Range: 2200-2399
  • Bedrooms: 1
  • Fireplace: In Living Room, Glass Doors
  • Floors/Ceilings: Wood Laminate Floors, Part Carpet, Tile, Concrete Floor, Smooth Ceiling, 9 or more Ft. Ceiling
  • Full Bathrooms: 1
  • Half Bathrooms: 1
  • Equipment: Self Cleaning Oven, Disposal, Microwave, Refrigerator, Washer, Dryer, Cable Available
  • Living Dining Kitchen: Separate Living Room, Separate Dining Room, Updated/Renovated Kitchen, Breakfast Bar, Pantry, Washer/Dryer Connections
  • Misc Interior: All Window Treatments, Walk-In Closet(s), Fire Sprinklers, Cat/Dog Free House, Smoke Detector(s), 2 or More Elevators, Trash Chute, Common Basement
  • Number Of Fireplaces: 1
  • Other Rooms: Laundry Closet, Entry Hall, Loft/Balcony, Storage Room
  • Total Bathrooms: 1.1
  • Primary Bathroom Description: Smooth Ceiling, Tile Floor
  • P R I M A R Y B E D R O O M: Level 2, Walk-In Closet, Full Bath, Sitting Area, Smooth Ceiling, Carpet

Exterior Features

  • Misc Exterior: Pool Cleaning Equipment, Gas Grill, Patio, Covered Patio, Sauna, Historic District, On-Site Storage, Sidewalks
  • Exterior Windows: Brick Veneer, Aluminum Window(s)
  • Foundation: Partial Basement
  • Pool Description: In Ground
  • Roof: Built-Up/Flat

Garage/Parking

  • Attached Detached Parking: Detached
  • Carport Garage: Garage
  • Number Covered Parking Spaces: 2
  • Parking Display: G2D
  • Parking Storage: Front-Load Garage, Unassigned Parking

Utilities

  • Cooling: Central
  • Heating: Central
  • Security: Smoke Detector(s), Limited Access, Dead Bolt Lock(s)
  • Water Sewer: Public Water, Common Hot Water, Public Sewer

Association/Amenities

  • Condo Amenities: Sauna, Exercise Room, Clubhouse w/ Kitchen, On-Site Storage, Water View
  • Condo Fees Include: Some Utilities, Water/Sewer, Trash Collection, Exterior Maintenance, Grounds Maintenance, Management Fees, Exterior Insurance, Reserve Fund, Parking, Pest Control Contract
  • Condominium Association: Yes
  • Condominium Name: Lofts @ South Bluffs
  • Management Company: Wright Property Mgmt
  • Neighborhood Amenities: Gated Neighborhood, Pool

Fee Information

  • Monthly Maintenance Fee: 863

Lot Info

  • Lot Description: Level, Water View, Corner, Brick/Iron Fenced
  • Lot Number: UNIT 321

Multi Family

  • Number Of Rooms: 4

Tax Info

  • Assessor Parcel Number: 002083 D00067

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 11, 2023
Closed on
Apr 18, 2023
Sold by
Pegram Leigh A
Bought by
Degutis Vincent M
Seller's Agent
Mike Parker
The Firm
Buyer's Agent
Mike Parker
The Firm
List Price
$499,900
Sold Price
$473,000
Premium/Discount to List
-$26,900
-5.38%
Views
132
Current Estimated Value
$411,968

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$61,032
Avg. Annual Appreciation
-1.93%

Purchase Details

Listed on
Oct 19, 2017
Closed on
Jan 17, 2018
Sold by
Thob Llc
Bought by
Pegram Leigh A
Seller's Agent
Jodi Gibbs
Keller Williams
Buyer's Agent
Mike Parker
The Firm
List Price
$322,000
Sold Price
$322,500
Premium/Discount to List
$500
0.16%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.57%
Original Mortgage
$241,875
Interest Rate
4.25%
Mortgage Type
Adjustable Rate Mortgage/ARM
Source: Public Records

Range of Values:

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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
Degutis Vincent M $473,000 None Listed On Document
Pegram Leigh A $322,500 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Pegram Leigh A $75,000
Previous Owner Pegram Leigh A $299,000
Previous Owner Pegram Leigh A $60,000
Previous Owner Pegram Leigh A $241,875
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/18/2023 04/18/23 Sold $473,000 -5.4% $215 / Sq Ft
04/05/2023 04/05/23 Pending -- -- --
02/11/2023 02/11/23 For Sale $499,900 +55.0% $227 / Sq Ft
01/18/2018 01/18/18 Sold $322,500 +0.2% $161 / Sq Ft
11/16/2017 11/16/17 Pending -- -- --
10/19/2017 10/19/17 For Sale $322,000 -- $161 / 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 $3,217 $119,700 $3,725 $115,975
2024 $3,217 $94,900 $3,725 $91,175
2023 $5,781 $94,900 $3,725 $91,175
2022 $3,217 $94,900 $3,725 $91,175
2021 $5,849 $94,900 $3,725 $91,175
2020 $5,878 $81,125 $3,725 $77,400
2019 $5,878 $81,125 $3,725 $77,400
2018 $5,878 $81,125 $3,725 $77,400
2017 $3,334 $81,125 $3,725 $77,400
2016 $3,409 $78,000 $0 $0
2014 $5,620 $128,600 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Mike Parker

    Seller's Agent in 2023

    Mike Parker

    The Firm

    (901) 277-7275

    71 in this area

    259 Total Sales

    Mike Parker
    Section Image
  • Jodi Gibbs

    Seller's Agent in 2018

    Jodi Gibbs

    Keller Williams

    (901) 598-5634

    14 in this area

    58 Total Sales

    Jodi Gibbs
    Section Image
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Map

Source: Memphis Area Association of REALTORS®

MLS Number: 10141873

Memphis Area Association of REALTORS®

APN: 00-2083-D0-0067

Tennessee Shelby County Memphis 38103 South Main

505 Tennessee St Unit 321, Memphis, TN

This home is located at 505 Tennessee St Unit 321, Memphis, TN 38103 since 11 February 2023 and is currently estimated at $411,968, approximately $171 per square foot. This property was built in 1909. 505 Tennessee St Unit 321 is a home located in Shelby County with nearby schools including Downtown Elementary School, Booker T. Washington Middle & High School, and Memphis Grizzlies Preparatory Charter School.

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