NOT LISTED FOR SALE

The Lofts at South Bluffs 505 Tennessee St Unit 406 Memphis, TN 38103

South Main Neighborhood

Estimated Value: $198,000 - $233,000

1 Bed
1 Bath
100-999 Sq Ft
871 Sq Ft Lot

Last Sold May 24, 2024

Last sale price $249,000 $249 Per Sq Ft

Est. 12% decrease in value since last sale

Current estimated payment $1,313/month

13 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 May 2024

Light-filled studio @ the Lofts! . Perfect South Main location w/ gated access to South Bluffs & the River. Unit boasts 14 ft. ceilings w/ contemporary layout . The kitchen features marble & metallic backsplash. Lots of storage in sleek cabinetry. Entry mural leads to LR space. Cozy bedroom w/ glass shelving & custom cabinetry. Bathroom w/ marble soaker tub. Energy efficient washer-dryer. Walk-in closet w/ illuminated mirror, armoire, & modern shelving. Rooftop pool! Furniture/decor negotiable

Last Agent to Sell the Property

Lynda Baddour

Ware Jones, REALTORS License #300143 Listed on: 05/08/2024

Ware Jones, REALTORS

Last Buyer's Agent

Penne McWaters

McWaters & Associates License #274629

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $1,733

Year Built

  • Built in 1909

Lot Details

  • 871

Home Design

  • Traditional Architecture
  • Soft Contemporary Architecture

Interior Spaces

  • 100-999 Sq Ft Home
  • 886 Sq Ft Home
  • 1-Story Property
  • Window Treatments
  • Sauna

Kitchen

  • Updated Kitchen
  • Breakfast Bar
  • Oven or Range
  • Gas Cooktop
  • Dishwasher
  • Disposal

Flooring

  • Laminate
  • Tile

Bedrooms and Bathrooms

  • Walk-In Closet
  • 1 Full Bathroom

Parking

  • 1 Covered Space
  • Unassigned Parking

Outdoor Features

  • In Ground Pool
  • Deck
  • Outdoor Gas Grill

Utilities

  • Central Heating and Cooling System

Listing and Financial Details

  • Assessor Parcel Number 002083 D00080

Community Details

Overview

  • Property has a Home Owners Association
  • $440 Maintenance Fee
  • Association fees include some utilities, water/sewer, trash collection, grounds maintenance, parking
  • Mid-Rise Condominium
  • Lofts @ South Bluffs Community
  • Lofts @ South Bluffs Condos Third Amend Subdivision
  • Property managed by Wright Property

Amenities

Recreation

Property Details

Home Type

Condominium

Est. Annual Taxes

$1,733

Year Built

Built in 1909

Lot Details

0

Listing Details

  • Class: Residential
  • Type: Attached Single Family
  • Style: Traditional, Soft Contemporary
  • Attached Unit Type: Mid Rise (3-6 Stories)
  • Detached Unit Type: General Residential
  • Cross Street: GE Patterson
  • MLS Map #: 745A
  • MAAR Subdivision Name: LOFTS AT SOUTH BLUFFS CONDOMINIUMS
  • Condo: Yes
  • Number Of Stories: 1
  • Price Per Sq Ft: 281.04
  • Prop Construction Status: Existing Property
  • Estimated Sq Ft: 886
  • Year Built: 1909
  • List Price/ Sq Ft: 281
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 1

Interior Features

  • Additional Bedroom Bathroom Info: All Bedrooms Down
  • Estimated Heated Sq Ft Range: 100-999
  • Floors/Ceilings: Wood Laminate Floors, Tile
  • Full Bathrooms: 1
  • Equipment: Range/Oven, Gas Cooking, Disposal, Dishwasher
  • Living Dining Kitchen: Updated/Renovated Kitchen, Breakfast Bar
  • Misc Interior: All Window Treatments, Walk-In Closet(s), 2 or More Elevators
  • Total Bathrooms: 1

Exterior Features

  • Misc Exterior: Gas Grill, Deck, Sauna
  • Exterior Windows: Brick Veneer
  • Pool Description: In Ground

Garage/Parking

  • Number Covered Parking Spaces: 1
  • Parking Display: 1
  • Parking Storage: Unassigned Parking

Utilities

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

Association/Amenities

  • Condo Amenities: Sauna, Exercise Room, Water View
  • Condo Fees Include: Some Utilities, Water/Sewer, Trash Collection, Grounds Maintenance, Parking
  • Condominium Association: Yes
  • Condominium Name: Lofts @ South Bluffs
  • Management Company: Wright Property
  • Neighborhood Amenities: Pool

Fee Information

  • Monthly Maintenance Fee: 440

Lot Info

  • Lot Number: UNIT 406
  • Acreage: 0.02
  • Price Per Acre: 12450000

Multi Family

  • Number Of Rooms: 3

Tax Info

  • Assessor Parcel Number: 002083 D00080

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 8, 2024
Closed on
May 22, 2024
Sold by
Schimpf Michael
Bought by
Chandler Charles Lee and Chandler Claire Lee
Seller's Agent
Lynda Baddour
Ware Jones, REALTORS
Buyer's Agent
Penne McWaters
McWaters & Associates
List Price
$249,000
Sold Price
$249,000
Views
8
Current Estimated Value
$219,410

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$29,590
Avg. Annual Appreciation
-5.41%

Purchase Details

Closed on
Feb 19, 2020
Sold by
Townsend Donald K
Bought by
Schimpf Michael

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$199,500
Interest Rate
3.6%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 21, 2018
Sold by
Williams Russell W
Bought by
Townsend Donald K

Purchase Details

Closed on
Jul 1, 2016
Sold by
Thob Llc
Bought by
Williams Russell W

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$140,750
Interest Rate
3.75%
Mortgage Type
Adjustable Rate Mortgage/ARM
Source: Public Records

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

Purchase History

Date Buyer Sale Price Title Company
Chandler Charles Lee $249,000 None Listed On Document
Schimpf Michael $210,000 None Available
Townsend Donald K $179,000 None Available
Williams Russell W $175,950 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Schimpf Michael $199,500
Previous Owner Williams Russell W $140,750
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/24/2024 05/24/24 Sold $249,000 0.0% $2,490 / Sq Ft
05/08/2024 05/08/24 For Sale $249,000 -- $2,490 / 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 $1,733 $54,625 $1,450 $53,175
2024 $1,733 $51,125 $1,450 $49,675
2023 $1,733 $51,125 $1,450 $49,675
2022 $3,114 $51,125 $1,450 $49,675
2021 $3,151 $51,125 $1,450 $49,675
2020 $3,112 $42,950 $1,450 $41,500
2019 $1,373 $42,950 $1,450 $41,500
2018 $1,373 $42,950 $1,450 $41,500
2017 $1,405 $42,950 $1,450 $41,500
2016 $1,746 $39,960 $0 $0
2014 $2,662 $60,920 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Lynda Baddour

    Seller's Agent in 2024

    Lynda Baddour

    Ware Jones, REALTORS

    (901) 481-0843

    16 in this area

    177 Total Sales

    Lynda Baddour
    Section Image
  • Penne McWaters

    Buyer's Agent in 2024

    Penne McWaters

    McWaters & Associates

    (901) 634-1215

    5 in this area

    35 Total Sales

    Penne McWaters
    Section Image
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About The Lofts at South Bluffs

Map

Source: Memphis Area Association of REALTORS®

MLS Number: 10171911

Memphis Area Association of REALTORS®

APN: 00-2083-D0-0080

Tennessee Shelby County Memphis 38103 South Main

505 Tennessee St Unit 406, Memphis, TN

This home is located at 505 Tennessee St Unit 406, Memphis, TN 38103 since 08 May 2024 and is currently estimated at $219,410, approximately $219 per square foot. This property was built in 1909. 505 Tennessee St Unit 406 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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