home in Memphis, TN
This 1,090-square-foot apartment in Memphis, TN includes 2 bedrooms and 1 bathroom.
| Price | $129,900 |
|---|
| Beds | 2 |
|---|
| Baths | 1 |
|---|
| Sqft | 1090 |
|---|
| Address | 1601 Semmes St, Memphis, TN 38114 |
|---|
Why buy this home
- Links directly to the original source listing on Trulia.
Is this a good buy?
Priced in line with the area.
- New to market (4 days), so expect competition.
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 $832/month with 20% down at a 7.28% 30-year fixed rate. You would need about $35,669 in gross annual income to keep housing within a 28% ratio.
| Mortgage (P&I) | $711/mo |
|---|
| Property tax (new-buyer reassessed rate) | $73/mo |
|---|
| Homeowners insurance | $49/mo |
|---|
| Total monthly | $832/mo |
|---|
| Down payment (20%) | $25,980 |
|---|
| Income needed | $35,669/yr |
|---|
A signal to compare homes, not financial advice or a loan offer.
Financial outlook (modeled)
Enzo's grades this home A- (85 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 | A- (85/100) |
|---|
| Beats renting in | 63% of modeled paths |
|---|
| Modeled 5-yr equity (median) | $86,101 |
|---|
| Range (10th to 90th pct) | $56,417 to $119,969 |
|---|
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 Trulia