Affordable Memphis Property With Multiple Income Strategies
Investors looking for a lower-cost Memphis real estate opportunity may want to review 193 W. McKellar Avenue, Memphis, Tennessee 38109.
This vacant two-bedroom, one-bath property requires moderate rehabilitation and may be evaluated for resale, traditional rental income, rent-by-the-bed, or specialized housing.
Property Snapshot
- Asking price: $32,500 — reasonable cash offers considered
- Bedrooms: 2
- Bathrooms: 1
- Occupancy: Vacant
- Estimated repairs: $35,000–$40,000
- Estimated after-repair value: $95,000–$100,000
- Traditional projected rent: Approximately $1,000 per month
- Potential rent-by-the-bed income: Up to $1,800 monthly gross
Potential Investment Strategies
Fix and flip: Complete the necessary repairs and prepare the property for resale based on verified comparable sales and market conditions.
Traditional rental: Renovate the property and operate it as a long-term residential rental.
Rent by the bed: The two-bedroom configuration may potentially generate up to $1,800 per month in gross rental income at $900 per bed. Investors should account for utilities, vacancy, maintenance, management, insurance, and local requirements.
Specialized housing: Qualified buyers may also evaluate the property for housing programs serving veterans, individuals with disabilities, people transitioning from homelessness, or other populations needing stable housing.
Flowers and Associates may provide guidance on exploring relationships with nonprofit organizations and agencies that refer or support tenants. No nonprofit placement, rental assistance, occupancy level, licensing approval, or rental income is guaranteed.
Review the Property and Complete Your Due Diligence
The repair and rental estimates are intended to help investors begin their evaluation. Buyers should independently verify the property condition, contractor estimates, title, zoning, insurance requirements, comparable sales, and potential rental income.
The seller will review reasonable cash offers from qualified buyers with proof of funds.
Request the Complete Investor Package
Review the property photos, estimated repair costs, projected value, rental possibilities, and available exit strategies.
Qualified cash buyers may submit a reasonable offer with proof of funds.
VIEW PROPERTY DETAILS & SUBMIT AN OFFER
Link that button directly to the 193 W. McKellar property page containing the capture form, not the general Property Listings page.
Flowers and Associates LLC
Phone: 901-621-3544
Email: RealEstate@flowersandassociates.net
