If you're looking to invest in real estate and turnkey properties in the Memphis area, there are four main neighborhoods that you should look into. As real estate prices continue to climb, we've found that the following areas are seeing the greatest growth and have the highest-quality properties for investment:
Investing in Cordova
Cordova is a great investment location because of the suburban lifestyle it offers and low property values. This area is nestled among green spaces and parks while having all the sought-after infrastructure and resources of the big city. Cordova also has access to major roads in the Memphis area, including Interstate 40, Germantown Parkway, and Walnut Grove. If you're considering investing in this area, here are a few real estate facts you'll want to know:
- The median home value in Cordova, TN is $175,000
- Monthly rental income is just above $1,000
- Homes sell at list price on average
- Homes are listed for 32 days on average
Investing in East Memphis
East Memphis is packed with older real estate properties that are being updated and flipped for large returns. The area is thriving, as younger people are moving into the area and starting families. East Memphis has direct access to some of the best Memphis cuisine and shopping, making it a great location for active residents. As more people pour into the area, median rent prices are steadily growing, making turnkey properties in this area ideal for investment. Other advantages of owning or renting a home in East Memphis include:
- Relatively short commutes
- Proximity to good schools
- Close to area attractions
If you're considering investing in East Memphis properties, here are a few real estate facts you'll want to know:
- The median home value in East Memphis is $137,000
- Monthly rental income is $900 on average
Investing in Southaven
While Southaven is actually in Mississippi, it's recognized as a desirable Memphis metro area nestled just south of the Tennessee state line. Southaven is one of the quickest-growing areas in Mississippi because of its proximity to Memphis. It's close to warehousing hubs in the south of Memphis, where a lot of residents are employed. The warehousing industry brings in plenty of tenants, making this area ideal for turnkey investment. Other advantages of the Southaven area include:
- Affordable homes
- Award-winning youth sports leagues
- Great public and private schools
If you're considering investing in a property in Southaven, here are a few real estate facts you'll want to know:
- The median home value in Southaven, MS is $205,298
- Monthly rental income is $1,200 on average
Investing in Olive Branch
Located just across the state line in DeSoto County, Mississippi, Olive Branch is a highly desirable area for residents due to its proximity to the city and affordable housing. Recently placed on Time Magazine's Best Places to Live list, Olive Branch is located just south of Germantown and Collierville, Tennessee — two affluent metros of Memphis with the best shopping and dining in the area. Other advantages of owning or renting a property in the Olive Branch area include:
- Less traffic
- Quiet neighborhoods
- Safe communities
- Great public schools
If you're considering investing in Olive Branch properties, here are a few real estate facts you'll want to know:
- The median home value in Olive Branch, MS is $255,620
- Monthly rental income is $1,400 on average
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