For sale

Price cut: $3K (6/19)

$70,000

1561 Preston St, Memphis, TN 38106

3beds

974sqft

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Single Family Residence

Built in 1997

7,840 Square Feet Lot

$-- Zestimate^®

$72/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~

54 days

172

16

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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: $72/sqft
Tax assessed value: $62,500
Annual tax amount: $823
Price range: $70K - $70K
Date on market: 5/12/2026
Cumulative days on market: 52 days
Listing terms: Conventional,Other (See REMARKS)

Estimated market value

Not available

Estimated sales range

Not available

$977/mo

Price history

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

Public tax history

Year	Property taxes	Tax 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

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HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.

Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.

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