845 GRACEWOOD ST, Memphis, TN 38112

$74,900 Asking Price

2 beds
1 bath
Built in 1948

This well-built 2-bedroom, 1-bath home sits at the end of a quiet dead-end street, surrounded by owner-occupied homes in a rapidly growing neighborhood with rising property values. With major updates already completed, this property is a smart investment or a move-in-ready home. Recent upgrades include a brand-new PEX plumbing system installed in September 2024, a fully replaced HVAC system in 2022, and updated electrical wiring with modern lighting throughout. The spacious lot offers plenty of outdoor potential, but the real bonus is the nearly 400 sq. ft. detached garage—perfect for converting into a tiny house, ADU, or guest suite. With a smart renovation, it could generate extra rental income or serve as a private studio or additional living space. With just a few cosmetic touches, this home is primed to become a high-performing rental or a cozy residence in a high-demand area. Don’t miss this opportunity—contact the listing agent today!

Features & Amenities

Interior

Rooms:
5
Appliances:
Cooktop,Gas Cooking,Dishwasher,Other (See REMARKS)
Flooring:
Other (See REMARKS)
A/C:
Central
Heating:
Central

Exterior

General:
Wood/Composition, Wrought Iron Security Drs,Porch,Well Landscaped Grounds,Chain Fence
Style:
Traditional
Pool:
None
Parking:
Driveway/Pad,Front-Load Garage, Parking spaces: 1

Construction

General:
1

Location

County:
Midtown/Holmes

Lot

Zoning:
052085 00022

This listing courtesy of:
Weichert, REALTORS-BenchMark

About Memphis, TN

Housing

Number of Units
296,697
Median Home Value
$154,311
Median Rent
$742

52.07% of housing units are renter occupied.

10.48% are vacant.

Commute

Car
82.14%
Public Transportation
1.16%
Walk to Work
1.09%
Work from Home
14.58%
Other
0.84%

The median travel time to work is 21 minutes.

People

Population
676,522
Median Age
35.70
Median Household Size
2.54

Education

High School
30.26%
Associate’s Degree
6.19%
Bachelor’s Degree
15.99%
Graduate Degree
11.09%

Disclaimer: Community and Demographic information uses data from the U.S. Census Bureau but is not endorsed or certified by the Census Bureau.

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