What a Memphis flip really makes, from 77,123 county deed records.
We tracked every repeat sale of the same Memphis property in the county deed record, screened to arms-length resales held 60 to 365 days. The gap between what an investor paid and resold for is the closest honest read on this market. Here is what the numbers say, by neighborhood.
Source of record: Shelby County Register of Deeds warranty-deed filings, matched to parcels on our address database. A flip here is the same parcel bought and resold within 60 to 365 days at a real markup, with same-week double-closes, 1-to-3-year holds, and non-arms-length family transfers screened out. Value added is resale minus purchase, straight from the deeds. Renovation plus holding cost is not in the deed record, so we show ATTOM's published estimate: 20 to 33 percent of the resale (after-repair) value. Our flip returns track ATTOM's published Memphis figures. How we source our numbers →
Two ways to read this data
If you invest
The table below screens neighborhoods on what decides a flip or BRRRR: how many deals actually clear, what they buy and resell for, the value added, and how long capital sits. Recent-five-year basis, so the numbers reflect today's market. Germantown (38138) shows the largest typical value added at $185,000.
If you own or are buying to hold
Value added is gross. Renovation and holding eat a real share of it, 20 to 33 percent of the resale price by ATTOM's measure, around $121,900 in Germantown (38139). A high “yield” on a cheap Memphis house almost always assumes work the listing price does not include. Underwrite on your all-in cost, purchase plus renovation, not the sticker.
Memphis flips by neighborhood
Recorded arms-length resales held 60 to 365 days, last five years, by ZIP. “Value added” is resale minus purchase. “Renovation est.” is ATTOM's 20-to-33 percent of resale (midpoint shown). Areas with too few recorded flips to measure are not shown. Sorted by flip volume.
| Area | ZIP | Flips | Typical buy | Typical resale | Value added | Renovation est. | Days held |
|---|---|---|---|---|---|---|---|
| Frayser | 38127 | 744 | $58K | $125K | $66K +116.4% | $33K | 177 |
| Whitehaven / Westwood | 38109 | 586 | $60K | $128K | $73K +119.3% | $34K | 171 |
| Parkway Village / Oakhaven | 38118 | 379 | $85K | $162K | $75K +89.1% | $43K | 156 |
| Raleigh | 38128 | 368 | $88K | $165K | $79K +87.3% | $44K | 156 |
| University / Orange Mound | 38111 | 303 | $69K | $150K | $80K +109.5% | $40K | 179 |
| Orange Mound / Castalia | 38114 | 269 | $42K | $115K | $74K +172.7% | $31K | 182 |
| Whitehaven | 38116 | 266 | $95K | $180K | $83K +89.7% | $48K | 167 |
| Hickory Hill | 38115 | 213 | $115K | $205K | $83K +70.8% | $54K | 146 |
| South Memphis | 38106 | 213 | $40K | $117K | $76K +187.3% | $31K | 197 |
| Berclair / Highland Heights | 38122 | 193 | $77K | $160K | $80K +102.8% | $42K | 175 |
| Southwind / Hickory Hill | 38141 | 192 | $125K | $215K | $84K +65.2% | $57K | 145 |
| Bartlett | 38134 | 191 | $149K | $240K | $93K +63.3% | $64K | 160 |
| East Memphis | 38117 | 170 | $140K | $237K | $92K +65.4% | $63K | 186 |
| Cordova | 38016 | 149 | $200K | $305K | $95K +51.1% | $81K | 144 |
| Millington | 38053 | 133 | $105K | $203K | $93K +93.8% | $54K | 148 |
| Bartlett | 38135 | 116 | $168K | $270K | $93K +53.1% | $72K | 157 |
| Hickory Hill South | 38125 | 108 | $175K | $270K | $95K +51.5% | $71K | 132 |
| Cordova | 38018 | 108 | $190K | $278K | $87K +45.6% | $74K | 154 |
| Nutbush | 38108 | 103 | $43K | $125K | $75K +155.1% | $33K | 202 |
| Binghampton / Evergreen | 38112 | 97 | $60K | $160K | $92K +136.7% | $42K | 210 |
| New Chicago / Smokey City | 38107 | 96 | $86K | $184K | $89K +126.8% | $49K | 216 |
| Bartlett | 38133 | 91 | $140K | $230K | $90K +64.4% | $61K | 133 |
| Southeast Memphis | 38119 | 74 | $190K | $289K | $99K +51.3% | $77K | 176 |
| Collierville | 38017 | 57 | $191K | $355K | $122K +60.4% | $94K | 193 |
| Arlington | 38002 | 49 | $205K | $305K | $105K +50.9% | $81K | 130 |
| Midtown | 38104 | 34 | $162K | $277K | $105K +61.3% | $73K | 261 |
| River Oaks / East Memphis | 38120 | 28 | $177K | $311K | $118K +68.4% | $82K | 200 |
| Germantown | 38138 | 27 | $260K | $443K | $185K +66.9% | $117K | 146 |
| Downtown | 38103 | 20 | $204K | $284K | $86K +41.7% | $75K | 143 |
| Germantown | 38139 | 12 | $215K | $460K | $180K +93.2% | $122K | 175 |
| Uptown / Medical District | 38105 | 10 | $78K | $169K | $85K +115.9% | $45K | 240 |
| Soulsville / South Memphis | 38126 | 6 | $28K | $84K | $60K +100.6% | $22K | 156 |
Value added is straight from county deeds. Renovation est. is ATTOM's published 20-to-33 percent of resale value (midpoint), not a contractor quote, and includes holding cost. Condition and scope swing it widely on any single house. Figures are medians, updated from county records as new deeds record.
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