RealtyBid - Details for Property - 2864 Cherry Rd, Memphis, TN 38118
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2864 Cherry Rd

Shelby County, Memphis, TN 38118
This auction has been postponed until 10/21/2021.
Property ID 720426

Details

  • 3 Bedrooms
  • 1 Full Baths
  • 1 Half Baths
  • 2097 Sq Ft
  • Built in 1965
  • 8580.0 SqFt Lot

Description

2864 Cherry Rd is located in Memphis, TN, within Shelby County. The property features 3 bedrooms and 1 1/2 bathrooms. Built in 1965, the home has 2,097 Sq Ft of space on 8,580 Sq Ft of land. Nearby schools include Goodlett Elementary, American Way Middle School, and Sheffield High School. Memphis sits along the Mississippi River in southwestern Tennessee It has a population of around 650,000, making it Tennessee's second most populous city behind Nashville, the nation's 28th largest city, and the largest city proper situated along the Mississippi River. Greater Memphis is the 42nd-largest metropolitan area in the United States, with a population of around 1.35 million 1,348,260. The city is the anchor of West Tennessee and the greater Mid-South region, which includes portions of neighboring Arkansas, Mississippi, and the Missouri Bootheel. Memphis is the seat of Shelby County, Tennessee's most populous county.

Notes and Disclaimers

  • PROPERTY MAY BE OCCUPIED

    Please note that it is unlawful to trespass on this property. Do not disturb tenant.

Contingencies/Terms Offered

PROPERTY MAY BE OCCUPIED. PLEASE NOTE THAT IT IS UNLAWFUL TO TRESPASS ON THIS PROPERTY. DO NOT DISTURB TENANT.

One-Year Forecast

Property + 9.57%
ZIP + 9.57%
Metro + 9.37%

Property Insights

House Ranking: 5

14% of houses appreciate more than 11.50% in this ZIP Code

100% of houses are forecast to appreciate more than 9.57% in this ZIP Code

Historical Growth

  Last Year 10 Year
Property + 11.50% + 66.91%
ZIP + 0.93% +55.99%
Metro + 0.84% +44.82%

Index Tools - Valuation Changes

Below is a line graph of the indexes for this property, its ZIP Code area, and its Metropolitan Statistical Area (MSA). The graph tracks the movement of the property's value, values in the property's ZIP Code area, and values in the property's MSA over time due to market conditions.

Note: The property index does NOT represent the value of the subject home but instead represents the relative value of the home compared to other points in time.

 
Property Changes
 
ZIP Code Changes
 
Metro Changes

View Market Changes By House Using Dynamic Heat Maps

Our heat maps illustrate historic and predicted value trends in the property's ZIP Code area and metro area. Heat maps reveal and forewarn of trends in markets, often showing waves of value changes moving across a geographic area. Each dot represents a home, and its color indicates whether the home is appreciating or depreciating at the time indicated on the map, with green indicating appreciation and red indicating depreciation.

Click the Play button to watch trends unfold over time and into the future.

ZIP Code Area

Metro Area

ValPro - Property Value and Comps

Use interactive ValPro to create your own comps to:
  • understand value of your property and comp properties
  • select and save multiple comps
  • see features that improve or lower value
  • map distance to your property
  • pull maps at street, neighborhood and satellite levels
  • compare Similarity Scores

Properties in color below indicate comps selected.
- Click on a black circle below to add it as a selected comp.
- Click on a colored circle below to remove it as a selected comp.

The confidence score listed below will range between 50 and 100. This calculation is based on how similar the selected comps are to the subject property. The higher the score, the higher the confidence in the estimated valuation.

ZIP Market Segments Analysis

The homes within this ZIP Code have been sorted into four tiers based on the attribute displayed on the selected tab. For example, if the Value tab is selected, the homes are sorted into a low-end tier, a mid-low-end tier, a mid-high-end tier, and a high-end tier. Each tier features a quarter of the homes located within the ZIP Code.



Tier 1
1,163 Sq Ft and less
Tier 2
1,163 - 1,367 Sq Ft
Tier 3
1,367 - 1,586 Sq Ft
Tier 4
1,586 Sq Ft and greater


Tier Comparison By Value Tier

The bar chart below compares the average percentage change in value over the last year and the average forecast percentage change in value for the coming year for the four different comparison tiers.

 
 
Last Year Change
 
Forecast
 

Last Year 1-Year Forecast % Rising
Tier 1 + 12.51% + 10.00% +100.00%
Tier 2 + 12.76% + 10.00% +100.00%
Tier 3 + 12.76% + 10.00% +100.00%
Tier 4 + 12.91% + 10.00% +100.00%

Percentage Of Homes Rising By Value Tier

The below pie charts compare the percentage of Homes Rising (defined as the percent of homes with value appreciating at a rate faster than 1.5% per year during the most recent month) within the four different tiers of homes.

Fix and Flip

Estimated Value Analysis Using Comparable Flipped Properties

This tool estimates the post-repair value for the subject property based on an analysis of properties with similar characteristics that have been recently been bought, repaired and re-sold.

Square Footage Bedrooms Bathrooms Lot Size Year Built After Repair Value
Median of Fixed & Sold Comps 1,204 3 1 9,278 Sq Ft 1955 $113,325
2864 CHERRY RD MEMPHIS TN 38118 2,097 3 1.5 8,581 Sq Ft 1965
Difference Bigger Same amount of Bedrooms More Bathrooms Smaller Lot Newer
Estimated Value using Flips $129,000


Comparables

Comps Used Distance Bedrooms Baths Square Footage Lot Size Year Built First Sale Date First Sale Value Second Sale Date Second Sale Value Valuation
1731 CHERRY RD MEMPHIS TN 38117 0 miles 3 1 1,113 Sq Ft 9,801 Sq Ft 1958 12/2/2019 $ 50,000 2/7/2020 $124,900 $154,000
1474 MERRYCREST DR MEMPHIS TN 38111 0.2 miles 3 1.5 1,250 Sq Ft 6,970 Sq Ft 1952 7/12/2019 $ 48,000 10/7/2019 $109,900 $ 71,000
3052 CAPRI RD MEMPHIS TN 38118 0.3 miles 3 2 1,505 Sq Ft 11,500 Sq Ft 1961 8/10/2020 $ 75,000 10/1/2020 $ 75,000 $ 96,000
4461 DUNN AVE MEMPHIS TN 38117 0.5 miles 3 1 988 Sq Ft 19,471 Sq Ft 1953 7/31/2020 $700,000 8/14/2020 $106,000 $143,000
1697 MERRYCREST DR MEMPHIS TN 38111 0.3 miles 3 1 1,194 Sq Ft 7,405 Sq Ft 1958 6/18/2020 $ 50,000 9/4/2020 $125,000 $ 74,000
1760 DANVILLE RD MEMPHIS TN 38117 0.6 miles 3 1 976 Sq Ft 9,278 Sq Ft 1956 8/5/2019 $ 32,000 12/19/2019 $ 99,000 $132,000
4235 CAMELOT AVE MEMPHIS TN 38118 0.5 miles 3 1.5 1,332 Sq Ft 9,322 Sq Ft 1967 6/7/2019 $ 49,500 2/21/2020 $ 76,500 $ 70,000
3280 S GOODLETT ST MEMPHIS TN 38118 0.5 miles 4 2 1,900 Sq Ft 15,943 Sq Ft 1966 2/14/2020 $ 58,792 5/29/2020 $114,750 $120,000
4318 GOLDIE AVE MEMPHIS TN 38122 0.1 miles 3 2 1,476 Sq Ft 7,492 Sq Ft 1950 8/31/2020 $ 88,000 11/18/2020 $165,000 $106,000
1290 WELLS STATION RD MEMPHIS TN 38122 0.1 miles 3 1 1,114 Sq Ft 5,968 Sq Ft 1955 11/8/2019 $ 53,000 2/4/2020 $109,900 $ 78,000
4314 CASTLE AVE MEMPHIS TN 38122 0.1 miles 4 2 1,341 Sq Ft 7,187 Sq Ft 1951 11/19/2019 $ 38,000 1/22/2020 $107,000 $ 95,000
1130 RUSSWOOD RD MEMPHIS TN 38122 0.4 miles 3 1 1,565 Sq Ft 9,975 Sq Ft 1952 7/1/2020 $ 55,000 9/22/2020 $ 95,000 $ 83,000
1784 DANVILLE RD MEMPHIS TN 38117 0.6 miles 3 1.5 977 Sq Ft 7,187 Sq Ft 1956 3/6/2020 $ 75,000 7/1/2020 $135,000 $134,000
1731 CAPRI ST MEMPHIS TN 38117 0.6 miles 2 1 966 Sq Ft 7,144 Sq Ft 1955 7/31/2019 $ 61,000 11/7/2019 $120,900 $108,000
1020 BONNIE ST MEMPHIS TN 38122 0 miles 3 1 1,358 Sq Ft 10,280 Sq Ft 1951 12/6/2019 $ 52,000 11/17/2020 $108,000 $123,000
1849 DEARING RD MEMPHIS TN 38117 0.4 miles 4 2 1,634 Sq Ft 10,672 Sq Ft 1962 6/20/2019 $ 80,000 2/17/2020 $144,900 $170,000
4460 QUINCE RD MEMPHIS TN 38117 0.5 miles 3 1 1,783 Sq Ft 12,502 Sq Ft 1951 8/5/2020 $117,000 12/31/2020 $175,000 $284,000
4460 QUINCE RD MEMPHIS TN 38117 0.5 miles 3 1 1,783 Sq Ft 12,502 Sq Ft 1951 7/30/2020 $100,000 8/5/2020 $117,000 $284,000
2952 S GOODLETT ST MEMPHIS TN 38118 0.4 miles 4 2 1,676 Sq Ft 8,233 Sq Ft 1959 10/8/2020 $ 38,000 1/19/2021 $109,500 $103,000
3091 KNIGHTWAY RD MEMPHIS TN 38118 0.5 miles 2 1.5 1,069 Sq Ft 8,494 Sq Ft 1959 7/31/2019 $ 48,500 11/14/2019 $109,900 $ 94,000
897 TATUM RD MEMPHIS TN 38122 0.6 miles 3 2 1,616 Sq Ft 8,799 Sq Ft 1950 8/19/2020 $ 65,000 11/25/2020 $108,000 $113,000
1771 OZAN ST MEMPHIS TN 38108 0.5 miles 2 1.5 1,403 Sq Ft 6,360 Sq Ft 1951 11/14/2019 $ 17,208 4/27/2020 $ 77,200 $ 75,000

This property is being sold at a public auction.

Trustee Sale Details

Auction date and time
Date Oct 21, 2021
Start Time 12:00 PM
Location

Bidding Instructions

All bidders must show proof of identity as well as proof of authority to purchase on behalf of a legal entity.
100% of funds due at time of sale in the form of a Cashier's checks made payable to the Bidder as a natural person (Not as a Legal Entity)

Contact

Realtybid Customer Service *Contact Customer Service (877) 518-5700

Foreclosing Attorney

*Wilson & Associates, PLLC 501-219-9388
Important: All data on this page and other property pages is provided for informational purposes only. It is each potential buyer’s responsibility to perform their own due diligence prior to placing a bid on a property.