304 W Fay Ave

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Property Overview – 304 W Fay Ave, Memphis, TN 38109

General Condition:

Partially rehabbed: Plumbing is in but unfinished

Electrical: Wiring is good

HVAC: Present but incomplete (needs compressor + furnace)

Roof: Needs full replacement

Interior: Unknown but likely in mid-rehab phase

Structure: Presumably intact

Estimated Rehab Costs:

Item Estimated Cost

Roof replacement $7,000
Finish plumbing (fixtures, final connections, etc.) $4,500
New AC compressor + furnace $6,000
Interior (walls, paint, flooring, kitchen/bath finishes) $15,000–$20,000
Miscellaneous (permits, minor repairs, etc.) $3,000
Total Estimated Rehab $35,000–$40,000

ARV (After Repair Value):

Based on nearby 3 bed/1–2 bath renovated sales, the ARV is likely in the range of:

$90,000–$105,000

Asking 40k negotiable

Property Overview – 323 Modder Ave, Memphis, TN 38109

General Condition:

Completely gutted shell – no systems inside

Plumbing: Needs full installation

Electrical: No wiring, full rough-in and finishing needed

HVAC: None

Roof: NEW (3-tab shingles, 6 months old)

Structure: Framing only inside

Estimated Rehab Costs:

Item Estimated Cost

Full Plumbing installation $7,000–$8,500
Full Electrical wiring $7,000–$9,000
HVAC system (ductwork + units) $6,500–$7,500
Interior buildout (drywall, paint, kitchen, flooring, bath, etc.) $30,000–$35,000
Permits & contingencies $3,000
Total Estimated Rehab $55,000–$63,000

ARV (After Repair Value):

Based on similar renovated 3 bed / 2 bath comps:

$90,000–$100,000, depending on quality and layout

Potentially up to $110K–$120K if converted to duplex or higher-end finish

Asking 20K negotiable

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📊 Summary Comparison:

Property Rehab Cost ARV Range Notes

304 W Fay Ave $35K–$40K $90K–$105K Partially rehabbed; needs roof & HVAC
323 Modder Ave $55K–$63K $90K–$100K (up to $120K as duplex) Gutted shell; new roof installed

Resources:

• Run the numbers with rehab costs using our Cash Offer Calculator.
• Run this scenario through our DSCR Calculator.
• Run this scenario through our Fix and Flip Calculator.

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