Drastically varying prices for Memphis, TN 38127 properties

[Jeff Young]

I'm looking into Memphis, TN for rental properties. I see some interesting deals, but I'm having trouble understanding how some properties sell for $90-125,000, then others on the same street only sell for $20-40,000. For example, 612 Leavert Ave, Memphis, TN 38127 AND 618 Leavert Ave, Memphis, TN 38127. $34,000 vs $132,000 respectively.

Are there any agents or property managers that can shed some light on this and/or show me some deals. I'm looking to buy rental properties in any cash flowing/appreciating market(s).

[Dean Harris]

@Jeff Young

I'm happy to help. I represent OOS buyers everyday to buy a liquidate. One important thing you should know is that 38127 is a really tricky zip code. I usually tell OOS investors with zero experience in 38127 to stay away from anything west of Highway 51. The tenant pool drops off considerably over there, very little commerce or jobs west of Highway 51. If you have property there and you know what you are doing, you can make it work but I never suggest it if you arent local or have lots of experience in that immediate area. 

There are several other zip codes in similar prices ranges that I would suggest go to before you look into 38127. Im happy to answer any question you may have based of my personal experience in Memphis.