Real estate investors looking for an affordable Memphis property with multiple potential exit strategies may want to take a closer look at 308 W. Fields Avenue, Memphis, Tennessee 38109.
This vacant three-bedroom, one-bath property offers approximately 1,302 square feet and is positioned as a heavy-rehab opportunity for an investor who understands value-add real estate. The property also has a new roof, eliminating one of the larger potential expenses typically associated with distressed properties.
The current asking price is $37,500, with reasonable cash offers considered from qualified buyers.
Property Snapshot
Property: 308 W. Fields Avenue, Memphis, TN 38109
Bedrooms: 3
Bathrooms: 1
Size: Approximately 1,302 square feet
Condition: Vacant / Heavy Rehab
Asking Price: $37,500
Estimated Repairs: $40,000–$57,500
Estimated After-Repair Value: $114,000
Reasonable Cash Offers: Considered
As with any investment property, buyers should conduct their own inspection, verify repair estimates, review title information and independently evaluate comparable sales before making a final investment decision.
Several Potential Exit Strategies
One of the advantages of 308 W. Fields is that investors are not limited to a single strategy.
Fix and Flip
An investor may choose to completely renovate the property and place it back on the traditional retail market.
With an estimated after-repair value of approximately $114,000, the opportunity should be evaluated based on the buyer’s actual acquisition price, contractor costs, financing expenses, holding costs and resale expenses.
Buy and Hold
Investors interested in long-term rental income may also consider 308 W. Fields as a traditional rental property after renovation.
Projected traditional rent is approximately $1,100 per month, subject to the property’s completed condition and current rental-market conditions at the time it is placed into service.
Specialized or Rent-by-the-Bed Housing
Another strategy may be to evaluate the property for specialized housing.
With three bedrooms, an investor could potentially explore a rent-by-the-bed model. At an example rate of $900 per occupied bedroom, three occupied bedrooms could produce up to $2,700 per month in gross rental revenue.
This model may be attractive to investors interested in housing populations such as veterans, individuals with disabilities, people transitioning from homelessness, or other individuals needing stable housing.
Flowers and Associates can also provide qualified investors with guidance on exploring relationships with nonprofit organizations and agencies that may refer tenants or coordinate housing support.
Nonprofit participation, tenant placement, rental assistance, occupancy, licensing, zoning and income are not guaranteed and should always be independently verified.
Looking Beyond the Purchase Price
Experienced investors know that a distressed property’s asking price is only one part of the equation.
A buyer should consider:
Acquisition Price + Repairs + Holding Costs + Financing + Exit Strategy
That is why Flowers and Associates provides interested investors with additional property information to help them evaluate each opportunity before moving forward.
For 308 W. Fields, qualified buyers can request the complete investor property package containing additional financial projections, potential rental strategies and property information.
Reasonable Cash Offers Are Considered
The current asking price is $37,500, but qualified cash buyers are encouraged to submit a reasonable offer.
Buyers should be prepared to provide proof of funds before scheduling certain property access or moving into final negotiations.
Get on the Flowers and Associates Cash Buyers List
308 W. Fields is only one opportunity.
Flowers and Associates regularly identifies discounted, distressed and value-add real estate opportunities for investors interested in Memphis-area properties.
By joining our Cash Buyers List, investors can receive information about new opportunities as they become available, including:
- Asking prices
- Property photos
- Estimated repair ranges
- Projected property values
- Rental possibilities
- Potential exit strategies
- Specialized housing opportunities
Being on the buyer list can also help investors learn about properties before they are broadly promoted across multiple marketing channels.
JOIN THE CASH BUYERS LIST
To view currently available opportunities:
Learn More About Real Estate Investing and Special Needs Housing
Investors interested in combining real estate investing with community-based housing strategies can also follow the Passive Impact: Real Estate Investing & Special Needs Housing Podcast, where we discuss investment strategies, special needs housing, rental-income models and ways investors can create both financial and community impact.
Flowers and Associates LLC
901-621-3544
RealEstate@flowersandassociates.net
Explore 308 W. Fields Avenue in Memphis, TN 38109, a 3-bedroom investment property with fix-and-flip, rental and specialized housing potential. Asking $37,500 with reasonable cash offers considered. Join the Flowes and Associates Cash Buyers List for future Memphis investment opportunities.
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