NOT LISTED FOR SALE

559 Gainsville Ave Memphis, TN 38109

Westwood Neighborhood

Estimated Value: $84,000 - $115,000

3 Beds
1 Bath
1,000-1,199 Sq Ft
$86/Sq Ft Est. Value

Last Sold October 27, 2023

Last sale price $68,000 $57 Per Sq Ft

Est. 52% increase in value since last sale

Current estimated payment $597/month

12 Days on Market

About This Home

As of October 2023

What a great addition to your rental portfolio this will be. This property is located near jobs and commerce and will stay in demand with the local tenant base. A TLC is needed and it will be sold "as-is". This property will not qualify for FHA financing. Seller prefers offers with no inspection contingencies since it is a vacant property. No assignments and no wholesaler buyer offers will be accepted.

Last Agent to Sell the Property

Dean Harris

CrestCore Realty MphsBrokerage License #286759 Listed on: 09/22/2023

Last Buyer's Agent

Dean Harris

CrestCore Realty MphsBrokerage License #286759 Listed on: 09/22/2023

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $404

Year Built

  • Built in 1968

Lot Details

  • 6,534 Sq Ft Lot
  • Lot Dimensions are 60x115

Parking

  • 1 Parking Space

Interior Spaces

  • 1,000-1,199 Sq Ft Home
  • 1,007 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 3 Main Level Bedrooms
  • 1 Full Bathroom

Community Details

  • Indian Hills Subdivision

Listing and Financial Details

  • Assessor Parcel Number 075091 00011

Home Details

Home Type

Single Family

Est. Annual Taxes

$404

Year Built

Built in 1968

Lot Details

0

Listing Details

  • Class: Residential
  • Type: Detached Single Family
  • Detached Unit Type: General Residential
  • MLS Map #: 762B
  • MAAR Subdivision Name: INDIAN HILLS
  • Number Of Stories: 1
  • Price Per Sq Ft: 67.53
  • Prop Construction Status: Existing Property
  • Estimated Sq Ft: 1007
  • Year Built: 1968
  • List Price/ Sq Ft: 69
  • Special Features: None
  • Property Sub Type: Detached
  • Stories: 1

Interior Features

  • Estimated Heated Sq Ft Range: 1000-1199
  • Bedrooms: 3
  • Bedrooms Down: 3
  • Full Bathrooms: 1
  • Total Bathrooms: 1

Garage/Parking

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

Lot Info

  • Lot Number: 72
  • Acreage: 0.15
  • Lot Size: 60X115
  • Price Per Acre: 466000

Multi Family

  • Number Of Rooms: 6

Tax Info

  • Assessor Parcel Number: 075091 00011

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 10, 2024
Sold by
Gohil Palak
Bought by
Palak Gohil Trust and Gohil
Current Estimated Value
$103,297

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$97,360
Outstanding Balance
$96,304
Interest Rate
7.09%
Mortgage Type
New Conventional
Estimated Equity
$6,993

Purchase Details

Closed on
Jun 10, 2024
Sold by
Mid South Homebuyers Gp and Mid South Home Buyers Llc
Bought by
Gohil Palak

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$97,360
Outstanding Balance
$96,304
Interest Rate
7.09%
Mortgage Type
New Conventional
Estimated Equity
$6,993

Purchase Details

Listed on
Sep 22, 2023
Closed on
Oct 24, 2023
Sold by
Vb Two Llc
Bought by
Mid South Homebuyers Gp
Seller's Agent
Dean Harris
CrestCore Realty MphsBrokerage
Buyer's Agent
Dean Harris
CrestCore Realty MphsBrokerage
List Price
$69,900
Sold Price
$68,000
Premium/Discount to List
-$1,900
-2.72%
Views
36

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
25.51%

Purchase Details

Closed on
Feb 1, 2021
Sold by
Vb One Llc
Bought by
Vb Two Llc

Purchase Details

Closed on
Oct 3, 2019
Sold by
Sorroeix Inc
Bought by
Vb One Llc

Purchase Details

Closed on
Oct 26, 2018
Sold by
Property Factor Aus Llc
Bought by
Sorroeix Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,332,031
Interest Rate
4.6%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 24, 2018
Sold by
Gainesville Dare Llc
Bought by
Property Factor Aus Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,332,031
Interest Rate
4.6%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 25, 2013
Sold by
Memphis Investment House Llc
Bought by
Gainesville Dare Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$25,000
Interest Rate
4.43%
Mortgage Type
Unknown

Purchase Details

Closed on
Sep 14, 2012
Sold by
Tillman Pierre and Tillman Starria
Bought by
Memphis Invesment Homes Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$16,835
Interest Rate
3.58%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Mar 3, 2000
Sold by
K & C Investments
Bought by
Tillman Pierre and Collins Starria

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$52,108
Interest Rate
8.3%

Purchase Details

Closed on
Jan 7, 2000
Sold by
Shead Mary A
Bought by
K & C Investments

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$52,108
Interest Rate
8.3%
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
Palak Gohil Trust -- None Listed On Document
Gohil Palak $121,700 None Listed On Document
Mid South Homebuyers Gp $68,000 Total Title Services
Vb Two Llc -- None Available
Vb One Llc $198,000 Saddle Creek Title Llc
Sorroeix Inc -- None Available
Property Factor Aus Llc -- None Available
Gainesville Dare Llc $50,000 None Available
Memphis Invesment Homes Llc -- None Available
Memphis Investment Homes Llc $6,700 Saddle Creek Title Llc
Tillman Pierre $54,500 Equity Title & Escrow Co
K & C Investments $44,260 Fidelity Title & Escrow Inc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Gohil Palak $97,360
Previous Owner Sorroeix Cx $13,440
Previous Owner Sorroeix Inc $2,332,031
Previous Owner Gainesville Dare Llc $25,000
Previous Owner Gainesville Dare Llc $25,000
Previous Owner Memphis Investment Homes Llc $16,835
Previous Owner Tillman Pierre $56,616
Previous Owner Tillman Pierre $52,108
Previous Owner K & C Investments $43,600
Closed Tillman Pierre $2,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/27/2023 10/27/23 Sold $68,000 -2.7% $68 / Sq Ft
10/04/2023 10/04/23 Pending -- -- --
09/22/2023 09/22/23 For Sale $69,900 -- $70 / 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 $404 $29,075 $2,300 $26,775
2024 -- $11,925 $1,850 $10,075
2023 $726 $11,925 $1,850 $10,075
2022 $726 $11,925 $1,850 $10,075
2021 $735 $11,925 $1,850 $10,075
2020 $609 $8,400 $1,850 $6,550
2019 $268 $8,400 $1,850 $6,550
2018 $268 $8,400 $1,850 $6,550
2017 $275 $8,400 $1,850 $6,550
2016 $392 $8,975 $0 $0
2014 $392 $8,975 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Dean Harris

    Seller's Agent in 2023

    Dean Harris

    CrestCore Realty MphsBrokerage

    (901) 619-6170

    40 in this area

    1,426 Total Sales

    Dean Harris
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Map

Source: Memphis Area Association of REALTORS®

MLS Number: 10157323

Memphis Area Association of REALTORS®

APN: 07-5091-0-0011

Tennessee Shelby County Memphis 38109 Westwood

559 Gainsville Ave, Memphis, TN

This home is located at 559 Gainsville Ave, Memphis, TN 38109 since 22 September 2023 and is currently estimated at $103,297, approximately $86 per square foot. This property was built in 1968. 559 Gainsville Ave is a home located in Shelby County with nearby schools including Levi Elementary School, Chickasaw Middle School, and Westwood High School.

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