689 N Willett St

Memphis, TN 38107
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2 bd, 1 ba | 1,260 sqft | Built in 1926

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List Price
$189,900

Initial Investment

$51,748

Purchase Price

$189,900

Down Payment

25%

Rent

$1,530

Total Return

$101,903

Annualized Return

24.7%

Cap Rate

6.0%

Gross Yield

9.7%

Cash Flow

$447

Appreciation

8.9%
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Features

Occupancy

Unspecified

Lease Start

-

Lease End

-

Lot Size

6,250

HOA

None

Flood Risk

Not Required

Located in the sought-after Vollintine Evergreen Historic District, this charming all-brick home has been beautifully renovated throughout. Featuring 2 bedrooms plus a versatile bonus room with a window and closet—perfect as a third bedroom or home office. Refinished gleaming hardwood floors run throughout, with ceramic tile in the kitchen. Enjoy brand-new stainless steel appliances, gas cooking, pretty cabinetry, and solid surface counters typically found in much higher-priced homes. The sunny breakfast area makes a cozy dining nook or second workspace. A separate laundry room includes a full-size washer and dryer. Start your mornings or wind down your evenings on the spacious covered front porch. The large, flat backyard is ideal for grilling, relaxing, or easy maintenance. Just minutes from cool local restaurants and The Concourse, a vibrant destination with entertainment, a brewery, and The YMCA. Move-in ready and full of character—don’t miss this one!

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Pablo Pereyra
901 Realtor
TN Agent License #287154

Annual Financial Highlights

Expected Rent

$17,442

Expenses

-$3,221

Property Taxes

-$3,450

Loan Payments

-$10,324

Net Cash Flow

$447

See more in Financials

Property Characteristics

Buyer's Agent

An experienced local, licensed real estate broker/agent will represent you in this transaction. They will negotiate on your behalf, from your first offer through closing.
  • You can contact your Agent with questions even before making an offer.
  • A professional home inspection will be conducted prior to closing.  This inspection, paid for by Roofstock, will be conducted by a Roofstock-affiliated vendor.  As soon as the report is ready, your Agent will discuss the findings with you and help with any next steps.

Property Management

Why choose?
From repairs and maintenance to communicating with tenants, our preferred property management teams protect your assets and keep things running smoothly.

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Listing Courtesy of:Amanda Lott
Agent License 318728
Crye-Leike, Inc., REALTORS
Certified Agent Brokerage:Pablo Pereyra
901 Realtor
TN Brokerage License 264252
SourceMemphis Area Association of Realtors
MLS #10194342
Last Updated: 04/17/2025 20:04
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