Best Memphis B neighborhoods?

[Torey Chumbley]

I am visiting family in Texas and decided to make a side trip to Memphis for couple of days to check out the market here. This will be my first rental and I want to play it fairly safe. Do any of you have thoughts about the best cash flowing B neighborhoods in the Memphis area? I would also consider C neighborhoods in certain situations

Thank you!

Torrance

[Timothy Lewis]

Hey @Torey Chumbley,

I'm an out of state investor from Miami. I own a property up in Memphis and currently under contract for another. I created this list about a year ago so the quality of these areas have probably changed as Memphis is rapidly growing. Needless to say, it still will provide you a general idea of what areas to look at:

Good areas: 

• Raleigh 38128 (try to push as far east as you can)
• Bartlett- expensive, but solid
• Cordova - expensive, but strong. Still some unincorporated areas so those would be county only tax, very rare to find one
• East Memphis 38117, generally solid, drops off a bit south of Quince. E. 
• East Memphis - 38111 -generally great, can get spotty when you go too west on the southern part of the zip code near the Orange Mound area. North of Southern Ave is $$ and University of Memphis. This is very street to street from 250k+ homes to shacks. 
• Midtown/ Cooper young -38014, similar to 38111. Very complex area. Huge developments and improvements in this area. Really need to know your stuff if you're going to buy here. 
• Whitehaven 38116, has its bad areas, but good investment areas. You'll find some rtv opportunities 1-1.5% here with less risk than Frayser. Working class neighborhoods
• Parkway Village and Hickory Hill -38118, 38115 similar to Whitehaven 
• Westwood/west Whitehaven - 38109 - some good finds. 
• Germantown - $$$, very few deals in general as it is similar to Collierville, maybe some on western edges, but those are very hard to find. 

Areas to avoid: 

• Frayser 38127
• Orange Mound 38114
• North Memphis - 38107
  South Memphis - 38126, 38106

I hope this helps.