The Ark7 team is excited to announce another step forward toward democratizing real estate investing. Today, we come to you with the exciting advancement of a new investment property in Memphis, Tennessee. This property’s location, capacity, and quality will allow you to take your investments to the next level.
Memphis is the second-largest city in Tennessee and is a cultural hub of blues music and charming small businesses. It also is a hub for larger companies like FedEx and AutoZone. According to Zillow, home values in Memphis have increased in the last 5 years by 68.5%.
What makes the property so unique
Duplex Quality & Capacity
The new Memphis property has 7 duplexes consisting of 14 units recently renovated in 2021. All units have a backyard and a patio that allow each tenant the best access to amenities. 12 out of 14 units are occupied now with immediate cash flow. The roof, plumbing and electrical were all updated in 2018, ensuring the facilities run smoothly.
Location, Location, Location!
This property is situated in the growth corridor of Memphis with a great amount of development nearby. It is located in the designated opportunity zone, close to Memphis’ Downtown area and within walking distance to the Medical District. It also is located near major employers in the area, such as FedEx, Kroger, Nike, and the University of Memphis. Additionally, Tennessee is one of the few states with no income tax, making it appealing to movers and investors. Not to mention, according to Norada Real Estate Investments, 54.5% of individuals in the Memphis area chose to rent rather than buy, making this property perfectly suited for its surroundings. Many of these renters bring their own appliances, contributing to lower maintenance and repair costs, and ultimately a higher return for the investors.
High Return Rate
The Memphis property has an estimated cash distribution of 7.03% and an estimated total return of 15.83% including appreciation. One of the contributing factors to the property’s high return rate is its low property tax. Find out more information by checking out the property website here. Additionally, this property is approved to be a historical site, which can qualify it for future rehab construction tax benefits.
The property is over 1 acre and has the potential to host up to 14 more units on the property.
This property has a limited market capacity. Property shares are now set at $199/share and are in high demand.
Our current Seed/A1 Users will have early access to purchasing shares on November 2 at 10:00 am PDT, before the public launch on November 5 at 10:00 am PDT.
Join Ark7 now to secure your future of passive income!