Ranch home in 3206 Salter Rd Memphis, TN
This 1,364-square-foot Ranch home in Memphis, TN includes 3 bedrooms and 2 bathrooms. Its Ranch character defines the property's look.
| Price | $69,000 |
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| Beds | 3 |
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| Baths | 2 |
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| Sqft | 1364 |
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| Architectural style | Ranch (66% match) |
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| Address | 3206 Salter Rd Memphis, TN 38109 |
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Why buy this home
- Confirmed Ranch architecture, matched from the listing photos by Enzo's vision model.
- Links directly to the original source listing on Movoto.
Is this a good buy?
Priced below comparable homes.
- At $69K, this home is 59% below the $170K median for 1254 similar Ranch homes in Memphis, TN.
- That works out to $51 per square foot, 56% below the $117 comparable rate.
- On the market 51 days, longer than usual here, so the seller may be open to offers.
| This home | $69,000 |
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| Ranch median in Memphis, TN | $169,900 (1254 homes) |
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| Price per sq ft | $51 vs. $117 comps median |
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It is well below comparable homes, which can mean condition issues, a smaller lot or living area, a leasehold, or a data quirk. Check the source listing before getting excited. Enzo's reads public listing data and links to the original source. Confirm condition, HOA, taxes and fees there. This is a signal, not advice.
What it costs to own
Estimated at $442/month with 20% down at a 7.28% 30-year fixed rate. You would need about $18,947 in gross annual income to keep housing within a 28% ratio.
| Mortgage (P&I) | $378/mo |
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| Property tax (new-buyer reassessed rate) | $39/mo |
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| Homeowners insurance | $26/mo |
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| Total monthly | $442/mo |
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| Down payment (20%) | $13,800 |
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| Income needed | $18,947/yr |
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A signal to compare homes, not financial advice or a loan offer.
Financial outlook (modeled)
Enzo's grades this home B (74 out of 100) over a 5-year hold, from a Monte-Carlo of local home-price dynamics and the interest-rate path versus renting.
| Grade | B (74/100) |
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| Beats renting in | 38% of modeled paths |
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| Modeled 5-yr equity (median) | $37,534 |
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| Range (10th to 90th pct) | $23,344 to $54,910 |
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A probabilistic model built on public data (Zillow ZHVI, FRED rates), not a guarantee or financial advice. Local price dynamics are pooled toward Memphis, TN where local data is thin.
Local home values
Typical home values in Memphis, TN have risen about 17% over the past 5 years (+0% in the last year), per the Zillow Home Value Index. This reflects the metro market, not this specific home.
View this home on Movoto