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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:
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