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Old 03-31-2016, 06:22 PM
 
Location: Downtown SJ
176 posts, read 255,615 times
Reputation: 290

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What's your take on this property, how much do you think it can be rented for? Is it a desirable location?

https://www.redfin.com/TN/Memphis/10...8/mmls-9973727

1064 Fleece Pl
Memphis, TN 38104

Thanks
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Old 03-31-2016, 06:26 PM
 
Location: Downtown SJ
176 posts, read 255,615 times
Reputation: 290
What intersection(s) is the heart of Cooper-Young. I've been looking on Google street view, but I don't see much. Is it just Cooper @ Young? I don't see a lot there, but I have no frame of reference.
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Old 04-01-2016, 06:19 AM
 
11 posts, read 10,275 times
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The part of Cooper Young that is the most desirable to my husband & I is the area north of Young. Not as many houses near Southern Ave have been renovated yet. I haven't been in the rental market for 16 years now, so I'm not sure what properties are going for. Though the renovation on that house looks really nice!
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Old 04-01-2016, 06:24 AM
 
737 posts, read 1,916,686 times
Reputation: 331
Great reno but about 50 yards from a major non strop train track and next to Southern, a pretty bad section of CY. You'd definitely have a line of people willing to rent it, but I'm not sure at what price. I would guess that you could get a good price given how great it looks, despite the bad location within CY. $1,000 maybe? You'd experience crime there, no doubt, so if you are a landlord be ready for that.


The "heart" of CY is, of course, Cooper and Young But that isn't residential at all. If you want the "heart" of residential, I'd say maybe around Tanglewood and Young/Oliver/Nelson on the west, and Cox and Nelson/Oliver/Young on the east.
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Old 04-01-2016, 06:12 PM
 
159 posts, read 157,259 times
Reputation: 134
Ditto to everything that's been said here thus far, but I'll add also that $209,900 seems a tad high for a 2 + 2 at that particular location. I love the Cooper Young area and this house shows up great in the listing, but I also tend to prefer the parts of the 'hood that fall north of Young (or at least not more than a block or so south of it). And this is just more than I'd expect to pay for a small-ish house on the periphery of midtown Memphis. Or maybe the home values in the area have just risen more than I'd realized?
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Old 04-01-2016, 08:47 PM
 
Location: Downtown SJ
176 posts, read 255,615 times
Reputation: 290
Thanks for your input. I'm looking for some investment property in the $125-$175k range. Preferably in a semi-desirable area (or better). So I'll look farther north, where there is less crime.
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