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For sale
    • Price cut: $1K (9/18)
    $69,000

    1561 Preston St, Memphis, TN 38106

    3beds
    974sqft
    : 
    $509/mo
    Get pre-qualified
    Single Family Residence
    Built in 1997
    7,840 Square Feet Lot
    $-- Zestimate®
    $71/sqft
    $-- HOA

    What's special

    Functional floor plan
    Here's a perfect opportunity to purchase a cash flowing property.Calling all investors! This income-producing 3-bedroom, 1-bath home is the perfect addition to your rental portfolio. Featuring strong cash flow potential, spacious living areas, and a functional floor plan, this property is already set up to generate consistent monthly income. Property is occupied by a tenant at $695 per mo. ***DO NOT DISTURB*** Drive by to make offers. No viewing without an Seller Accepted offer. Due Diligence performed during walkthrough once accepted. Cash offers must show a Valid Proof of Funds. Must present a Pre Approval for all Conventional Loans. ***Professional Property Management in Place***> Seller also Selling 572 Burlington Cir< ~Sorry No Wholesalers, No Creative Financing and No Hard Money Loans~
    151 days
    121
    8

    Zillow last checked:

    Listing updated:

    Listed by:

    Tara A Woodley,

    Zach Taylor Real Estate 855-261-2233

    Source: MAAR,MLS#: 10221417MLS Logo

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 3
      • Bathrooms: 1
      • Full bathrooms: 1
      Primary bedroom
      • Dimensions: 0 x 0
      Dining room
      • Dimensions: 0 x 0
      Living room
      • Features: LR/DR Combination
      • Dimensions: 0 x 0
      Den
      • Dimensions: 0 x 0
      Heating
      • Central
      Cooling
      • Central Air
      Features
      • All Bedrooms Down, Square Feet Source: AutoFill (MAARdata) or Public Records (Cnty Assessor Site)
      • Flooring: Tile, Vinyl
      • Has fireplace: No
      Interior area
      • Total interior livable area: 974 sqft

      Property

      Parking
      • Parking features: Driveway/Pad, Other (See REMARKS)
      • Has uncovered spaces: Yes
      Features
      • Stories: 1
      • Patio & porch: Porch
      • Exterior features: Other (See REMARKS)
      • Pool features: None
      Lot
      • Size: 7,840 Square Feet
      • Dimensions: 53 x 151
      • Features: Other (See Remarks), Some Trees
      Details
      • Parcel number: 034013 00008

      Construction

      Type & style
      • Home type: SingleFamily
      • Architectural style: Traditional
      • Property subtype: Single Family Residence
      Materials
      • Brick Veneer
      • Roof: Composition Shingles
      Condition
      • New construction: No
      • Year built: 1997

      Utilities & green energy

      • Sewer: Public Sewer
      • Water: Public

      Community & HOA

      Community
      • Security: Wrought Iron Security Drs
      • Subdivision: Central Land Co Blk 8
      Location
      • Region: Memphis

      Financial & listing details

      • Price per square foot: $71/sqft
      • Tax assessed value: $62,500
      • Annual tax amount: $823
      • Price range: $69K - $69K
      • Date on market: 5/12/2026
      • Cumulative days on market: 149 days
      • Listing terms: Conventional,Other (See REMARKS)

        Estimated market value

        Not available

        Estimated sales range

        Not available

        $973/mo

        Price history

        DateEventPrice
        9/18/2026Price change$69,000-1.4%$71/sqft
        Source: MAAR #10221417 Report a problem
        7/2/2026Listed for sale$70,000$72/sqft
        Source: MAAR #10221417 Report a problem
        6/30/2026Pending sale$70,000$72/sqft
        Source: MAAR #10221417 Report a problem
        6/19/2026Price change$70,000-4.1%$72/sqft
        Source: MAAR #10221417 Report a problem
        5/12/2026Listed for sale$73,000+15.9%$75/sqft
        Source: MAAR #10221417 Report a problem
        2/27/2025Listing removed$650$1/sqft
        Source: Zillow Rentals Report a problem
        2/7/2025Price change$650-6.5%$1/sqft
        Source: Zillow Rentals Report a problem
        1/27/2025Price change$695-7.3%$1/sqft
        Source: Zillow Rentals Report a problem
        1/7/2025Price change$750-11.8%$1/sqft
        Source: Zillow Rentals Report a problem
        12/5/2024Price change$850-5%$1/sqft
        Source: Zillow Rentals Report a problem
        11/14/2024Listed for rent$895$1/sqft
        Source: Zillow Rentals Report a problem
        6/17/2024Sold$63,000-5.3%$65/sqft
        Source: MAAR #10171061 Report a problem
        5/16/2024Contingent$66,500$68/sqft
        Source: MAAR #10171061 Report a problem
        4/26/2024Listed for sale$66,500+16.7%$68/sqft
        Source: MAAR #10171061 Report a problem
        8/12/2022Sold$57,000+200%$59/sqft
        Source: Public Record Report a problem
        7/10/2020Sold$19,000+300%$20/sqft
        Source: Public Record Report a problem
        6/2/2010Sold$4,750-79.7%$5/sqft
        Source: Public Record Report a problem
        6/13/2008Sold$23,385-40.8%$24/sqft
        Source: Public Record Report a problem
        12/2/1997Sold$39,500$41/sqft
        Source: Public Record Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$824 +67.9%$15,625 +109.7%
        2024$491 +8.1%$7,450
        2023$454 $7,450
        2022-- $7,450
        2021-- $7,450 -2.6%
        2020$245 $7,650
        2019$245 -21.1%$7,650
        2018$310 -45.1%$7,650
        2017$565 +97.7%$7,650 -8.9%
        2016$286 -16.9%$8,400
        2014$344 $8,400
        2013-- $8,400 -22%
        2012-- $10,775
        2011-- $10,775
        2010-- $10,775
        2009-- $10,775 +6.7%
        2008-- $10,100
        2007-- $10,100
        2006-- $10,100
        2005-- $10,100 -8.4%
        2004-- $11,025
        2003-- $11,025
        2002-- $11,025
        2001-- $11,025 +32.4%
        2000-- $8,325
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
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        Climate risks

        Neighborhood: Downtown

        Getting around

        27 / 100
        Car-Dependent
        29 / 100
        Some Transit
        38 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating

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