Turnkey Investment Opportunity – Tenant in Place
We are MidSouth Home Buyers, a professional property management company serving the Memphis, Dallas, and Little Rock markets. This property is being offered as a turnkey investment with a tenant already in place, currently paying $975 per month.
The asking price reflects the understanding that MidSouth Home Buyers will continue managing the property after closing, providing the new owner with a truly hands-off investment experience. Our experienced management team will continue handling rent collection, maintenance coordination, tenant communication, and day-to-day property management so you can begin generating passive rental income from day one.
For sale by owner
$119,800
3311 Madewell St, Memphis, TN 38127
3beds
1baths
917sqft
SingleFamily
Built in 1954
0.32 Acres Lot
$-- Zestimate®
$131/sqft
$-- HOA
Overview
What the owner loves about this home
This beautifully renovated home has been thoughtfully updated from top to bottom, offering peace of mind and modern appeal. Recent exterior improvements include fresh Sherwin-Williams paint, a new Owens Corning 30-year roof, new shutters, flower boxes, fresh mulch with evergreen landscaping, and a new mailbox. Inside, you'll find fresh paint throughout, all-new light fixtures, electrical outlets, switches and plates, oil-rubbed bronze door hardware, towel bars, window treatments, and Hampton Bay ceiling fans in the living room and bedrooms.
The kitchen has been completely refreshed with brand-new cabinets featuring durable CamLock construction, new countertops, a new double-bowl 8-inch deep stainless steel sink, and a new faucet. The bathrooms have also been fully updated with new bathtubs, tub surrounds, ceramic tile, vanities with brass P-traps, medicine cabinets, Eljer Green Flush toilets, tub and shower faucet kits, and a new exhaust fan.
Additional major upgrades include a brand-new air conditioning condenser, furnace, A-coil, Bradford White water heater, new laundry hookups, aluminum windows, and a concrete slab foundation. With its extensive renovations and quality finishes throughout, this home is truly move-in ready and designed for years of low-maintenance ownership.
- 29 days
- 345
- 12
Listed by:
Property Owner (901) 563-4485
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 1
Heating
- Other
Cooling
- Central
Features
- Basement: None
- Has fireplace: Yes
Interior area
- Total interior livable area: 917 sqft
Property
Parking
- Parking features: Garage - Detached
Features
- Exterior features: Brick
Lot
- Size: 0.32 Acres
Details
- Parcel number: 07001300004
Construction
Type & style
- Home type: SingleFamily
Materials
- masonry
- Roof: Other
Condition
- New construction: No
- Year built: 1954
Community & HOA
Location
- Region: Memphis
Financial & listing details
- Price per square foot: $131/sqft
- Tax assessed value: $94,800
- Annual tax amount: $1,249
- Date on market: 8/4/2026
Estimated market value
Not available
Estimated sales range
Not available
$992/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/4/2026 | Listed for sale | $119,800+49.8%$131/sqft |
Source: Owner Report a problem | ||
| 7/31/2026 | Listing removed | $975$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 7/23/2026 | Listed for rent | $975$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 7/9/2026 | Listing removed | $975$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 6/25/2026 | Listed for rent | $975$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 12/10/2025 | Sold | $80,000+51.8%$87/sqft |
Source: Public Record Report a problem | ||
| 1/7/2014 | Sold | $52,700-5.9%$57/sqft |
Source: Public Record Report a problem | ||
| 9/13/2013 | Sold | $56,000+181.4%$61/sqft |
Source: Agent Provided Report a problem | ||
| 8/16/2013 | Listed for sale | $19,900-68.4%$22/sqft |
Source: First National Realty, Inc. #3278951 Report a problem | ||
| 8/19/2008 | Sold | $63,000+293.8%$69/sqft |
Source: Public Record Report a problem | ||
| 5/29/2008 | Sold | $16,000-45.3%$17/sqft |
Source: Public Record Report a problem | ||
| 1/22/2008 | Sold | $29,250-42.6%$32/sqft |
Source: Public Record Report a problem | ||
| 11/27/2006 | Sold | $51,000$56/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,249 +1.4% | $23,700 +26.7% |
| 2024 | $1,231 +8.1% | $18,700 |
| 2023 | $1,139 | $18,700 |
| 2022 | -- | $18,700 |
| 2021 | -- | $18,700 +39.8% |
| 2020 | $427 | $13,375 |
| 2019 | $427 -21.1% | $13,375 |
| 2018 | $542 -45.1% | $13,375 |
| 2017 | $987 +193.3% | $13,375 +35.1% |
| 2016 | $337 -12% | $9,900 |
| 2014 | $383 | $9,900 |
| 2013 | -- | $9,900 -17.5% |
| 2012 | -- | $12,000 |
| 2011 | -- | $12,000 |
| 2010 | -- | $12,000 |
| 2009 | -- | $12,000 -1.4% |
| 2008 | -- | $12,175 |
| 2007 | -- | $12,175 |
| 2006 | -- | $12,175 |
| 2005 | -- | $12,175 +20.2% |
| 2004 | -- | $10,125 |
| 2003 | -- | $10,125 |
| 2002 | -- | $10,125 |
| 2001 | -- | $10,125 +14.4% |
| 2000 | -- | $8,850 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: Shelby Forest-Frayser
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