East Memphis charm at its finest! Nestled in a peaceful cove, 507 Melody Lane is a rare find offering timeless character, beautiful updates, and exceptional outdoor living! This 3BR/2BA home features newly refinished original hardwoods, gorgeous bay windows, and abundant natural light. The kitchen boasts granite countertops and an island, opening to a light-filled den with a brand new manual gas fireplace- chimney has been rebuilt at top and relined. The newly renovated solid wood covered carport is an entertainer’s dream, complemented by a beautiful brick patio, fully fenced and gated spacious backyard with brand new, two room storage area adds incredible versatility! Additional upgrades include gutter guards and a GAF Timberline HDZ Class 4 roof. Enjoy the charm of an established neighborhood and quiet cove living, all in a fantastic East Memphis location convenient to everything!
For sale
$445,000
507 Melody Ln, Memphis, TN 38120
3beds
1,847sqft
Single Family Residence
Built in 1963
0.28 Acres Lot
$427,100 Zestimate®
$241/sqft
$-- HOA
What's special
Timeless characterBeautiful updatesGutter guardsAbundant natural lightLight-filled denNewly refinished original hardwoodsGorgeous bay windows
- 1 day
- 382
- 19
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
Lauren Yoakum,
Keller Williams 901-261-7900
Source: MAAR,MLS#: 10232796
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 2
Primary bedroom
- Features: Hardwood Floor, Smooth Ceiling
- Level: First
- Dimensions: 0 x 0
Bedroom 2
- Features: Hardwood Floor, Smooth Ceiling
- Level: First
Bedroom 3
- Features: Hardwood Floor, Smooth Ceiling
- Level: First
Primary bathroom
- Features: Full Bath
Dining room
- Features: Separate Dining Room
- Dimensions: 0 x 0
Kitchen
- Features: Updated/Renovated Kitchen, Kitchen Island, Washer/Dryer Connections, Keeping/Hearth Room
Living room
- Features: Separate Living Room, Separate Den
- Dimensions: 0 x 0
Den
- Dimensions: 0 x 0
Heating
- Central
Cooling
- Central Air
Features
- All Bedrooms Down, Full Bath Down, Smooth Ceiling, Living Room, Dining Room, Kitchen, Primary Bedroom, 2nd Bedroom, 3rd Bedroom, 2 or More Baths, Keeping/Hearth Room, Square Feet Source: AutoFill (MAARdata) or Public Records (Cnty Assessor Site)
- Flooring: Hardwood
- Number of fireplaces: 1
- Fireplace features: Masonry, In Keeping/Hearth room, Gas Starter, Gas Log
Interior area
- Total interior livable area: 1,847 sqft
Property
Parking
- Total spaces: 2
- Parking features: Driveway/Pad, Storage, Gated
- Covered spaces: 2
- Has uncovered spaces: Yes
Features
- Stories: 1
- Patio & porch: Patio
- Exterior features: Sidewalks
- Pool features: None
- Fencing: Wood,Wood Fence
Lot
- Size: 0.28 Acres
- Dimensions: 86 x 144
- Features: Some Trees, Landscaped
Details
- Additional structures: Storage
- Parcel number: 056047 00028
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Traditional
- Property subtype: Single Family Residence
Materials
- Wood/Composition
- Roof: Composition Shingles
Condition
- New construction: No
- Year built: 1963
Community & HOA
Community
- Subdivision: Melody Lane
Location
- Region: Memphis
Financial & listing details
- Price per square foot: $241/sqft
- Tax assessed value: $368,700
- Annual tax amount: $4,859
- Price range: $445K - $445K
- Date on market: 10/20/2026
- Cumulative days on market: 2 days
Estimated market value
$427,100
$406,000 - $448,000
$2,112/mo
Price history
| Date | Event | Price |
|---|---|---|
| 10/20/2026 | Listed for sale | $445,000+67.9%$241/sqft |
Source:  MAAR #10232796 Report a problem | ||
| 11/29/2017 | Sold | $265,000+0.8%$143/sqft |
Source: Public Record Report a problem | ||
| 12/4/2008 | Sold | $263,000-2.6%$142/sqft |
Source: Public Record Report a problem | ||
| 11/9/2008 | Listed for sale | $269,900+31%$146/sqft |
Source: Listhub #3157197 Report a problem | ||
| 9/8/2004 | Sold | $206,000$112/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $4,858 +2.8% | $92,175 +28.4% |
| 2024 | $4,727 +8.1% | $71,775 |
| 2023 | $4,372 | $71,775 |
| 2022 | -- | $71,775 |
| 2021 | -- | $71,775 +28.5% |
| 2020 | $1,777 | $55,850 +0.4% |
| 2019 | $1,777 -21.1% | $55,600 |
| 2018 | $2,252 -45.1% | $55,600 |
| 2017 | $4,104 +123.4% | $55,600 +2.9% |
| 2016 | $1,837 +1.9% | $54,025 |
| 2014 | $1,802 | $54,025 |
| 2013 | -- | $54,025 -4.4% |
| 2012 | -- | $56,500 |
| 2011 | -- | $56,500 |
| 2010 | -- | $56,500 -13.6% |
| 2009 | -- | $65,425 +27.3% |
| 2008 | -- | $51,375 |
| 2007 | -- | $51,375 |
| 2006 | -- | $51,375 |
| 2005 | -- | $51,375 +44.1% |
| 2004 | -- | $35,650 |
| 2003 | -- | $35,650 |
| 2002 | -- | $35,650 -14.6% |
| 2001 | -- | $41,725 +42.4% |
| 2000 | -- | $29,300 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: East Memphis
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