Property Analysis and Suggestions

[Eric Formiller]

2945 Lake Park Rd, Memphis, TN 38127

https://www.redfin.com/TN/Memphis/2956-Lake-Park-Rd-38127/ho...

Hello everyone, I have been seeing properties like come across the market and it's hard to not take a look. Properties like this interest me because of their cheap price and fairly high rents. According to the FMR HUD for that zip code a property of this type should get somewhere around $1620 per month. The property has also appreciated really well. It sold for $50,000 in 2020 and now it is listed for $85,900. Zillow estimates it to be worth $81,000. That is a 62% appreciation. I know it might not sell for its listed price but it still has solid appreciation. This area is clearly growing and could possibly be a good opportunity. As always I have my doubts about the legitimacy of it all. If someone could give me any advice or suggestions on properties like this it would be greatly appreciated!

Thanks for taking a look!