Wholesale Memphis, TN
Memphis wholesaling takes little capital, but every deal depends on the quality of the lead. ForeclosuresDaily.com sends fresh, off-market leads on Memphis owners who want a fast sale, so you can reach them before other investors do.
Most Shelby County foreclosures are trustee sales handled outside court, and the window between the first published notice and the auction is often only a few weeks, so Memphis wholesalers need to move early.
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Memphis, Tennessee housing market at a glance
Local market snapshot
Market data: Realtor.com Shelby County housing market, October 2026. Zillow Home Value Index for Shelby County: $219,232 (down 1.3% from a year earlier), August 2026. View homes on Zillow.
Memphis, TN by the numbers
Here is how Memphis compares with Tennessee on the figures investors check first. All numbers come from the U.S. Census Bureau. They cover every home and renter in the city, not just homes for sale right now, so they usually run lower than the current listing prices and asking rents in the market snapshot.
| Measure | Memphis | TN (state) |
|---|---|---|
| Population (July 1, 2025) | 609,647 | 7,315,076 |
| Population change since April 2020 | -3.0% | 5.8% |
| Median home value | $169,000 | $286,700 |
| Median gross rent | $1,181 | $1,189 |
| Median monthly owner cost (with mortgage) | $1,420 | $1,566 |
| Owner-occupied homes | 44.9% | 66.9% |
| Median household income | $51,736 | $69,595 |
What this means for investors in Memphis
- Price vs. income: the median home costs about 3.3 times the median household income, compared with 4.1 times statewide. A lower ratio usually means more local buyers can qualify, which helps resale and wholesale exits.
- Rent vs. price: a year of median rent equals about 8.4% of the median home value (5.0% statewide). That gross rent ratio favors buy-and-hold investors compared with the state. This is a rough gross figure before taxes, insurance and repairs.
- Renters: about 55% of occupied homes are renter-occupied (33% statewide). A larger renter share means more landlord-owned property, a common source of tired-landlord and absentee-owner leads.
- Population: the city shrank (-3.0%) between April 2020 and July 2025. A shrinking population can mean more vacant and inherited homes, so careful pricing and fast exits matter.
Source: U.S. Census Bureau QuickFacts, Memphis, TN (American Community Survey 2020-2024 5-year estimates; population estimates July 1, 2025).
Why wholesale houses in Memphis?
In short, a Memphis deal is controlled with a signed contract and earnest money, not financing, which keeps your startup cost low. Then the cash buyer takes over the repairs, and plenty of Memphis assignments close within weeks.
What does a Memphis wholesale deal look like from start to finish?
These are the stages of a Memphis assignment, from lead to fee:
- Find a distressed property
Target Memphis owners with a reason to sell, such as heirs to a Whitehaven home, tired landlords, or owners whose substitution of trustee just reached the Shelby County Register of Deeds. - Run the numbers
Work out the after-repair value (ARV) from recent sales in the same Memphis ZIP code, since 38127 and 38117 price very differently. - Sign a purchase contract
Agree on a Memphis contract price that covers your buyer's profit and your fee. - Find a cash buyer
Then present the contract to Memphis rental buyers, flippers, and other cash investors on your list. - Assign the contract
After that, hand over your Memphis contract rights to the buyer through an assignment agreement that states your fee. - Collect your fee
Finally, your Memphis fee is normally paid at closing by the title company or closing attorney.
Motivated sellers who want to liquidate fast
In addition, ForeclosuresDaily.com’s off-market real estate platform covers every major distress signal in Memphis, cross-referenced with tax rolls and property appraiser records.
Lead types to work
How do you work out a Memphis wholesale offer?
In Memphis, the ARV comes first: what the house will sell for once it is repaired.
The 70% Rule says a buyer should pay no more than 70% of ARV less repairs. Your fee is carved out of that same figure, so a Memphis contract price has to be lower.
Wholesale offer example
| Step | Amount |
|---|---|
| ARV | $249,900 |
| 70% of ARV − repairs ($20,000) | $154,930 |
| Your assignment fee | − $7,000 |
| Your contract price |
Memphis ZIP codes to watch
Therefore, start with the Memphis ZIP codes below and widen the search as you learn where your buyers like to buy. Open a card to see that Memphis ZIP code's figures.
ZIP 38103 · Downtown · $339,000 · Negotiate
Market snapshot: Downtown (38103)
| Metric | Value |
|---|---|
| Median listing price | $339,000 ▼ 5.6% |
| Price per sq ft | $212 |
| Days on market | 82 days ▼ 7.9% |
| Median rent | $2,250 ▼ 2.2% |
| Active listings | 193 ▲ 3.5% |
| Gross rent yield | 8.0% |
Meanwhile, Downtown Memphis (38103) carries a Zillow Home Value Index of $322,167 as of August 2026, down 5.1% from a year earlier.
Investor note: In particular, Downtown 38103 has the highest price per square foot of these Memphis ZIP codes. The median price is down 5.6% and inventory is up 3.5%, and absentee owners here are worth a direct mail campaign.
Max offer when the ARV equals the median price: $339,000 × 70% − $27,000 repairs = $210,300 max offer
Also see the full 38103 market report on Realtor.com →
Then view 38103 homes on Zillow →
ZIP 38104 · Midtown · $295,000 · Negotiate
Market snapshot: Midtown (38104)
| Metric | Value |
|---|---|
| Median listing price | $295,000 ▼ 12.8% |
| Price per sq ft | $160 |
| Days on market | 86 days ▲ 33.9% |
| Median rent | $1,297 ▼ 9% |
| Active listings | 203 ▼ 2.7% |
| Gross rent yield | 5.3% |
In addition, Midtown (38104) has a Zillow Home Value Index of $254,236 for August 2026, 5.4% lower than a year before.
Investor note: In particular, the Midtown median price dropped 12.8% over the year, so tired 38104 landlords may be ready for a quick cash offer.
Max offer when the ARV equals the median price: $295,000 × 70% − $24,000 repairs = $182,500 max offer
Also see the full 38104 market report on Realtor.com →
Then view 38104 homes on Zillow →
ZIP 38107 · Memphis · $179,999 · Buy & hold
Market snapshot: Memphis (38107)
| Metric | Value |
|---|---|
| Median listing price | $179,999 ▲ 0.3% |
| Price per sq ft | $112 |
| Days on market | 72 days ▼ 16.3% |
| Median rent | $1,125 ▲ 2.3% |
| Active listings | 162 ▼ 3.9% |
| Gross rent yield | 7.5% |
Similarly, Memphis ZIP 38107 shows a Zillow Home Value Index of $111,897 as of August 2026, down 3.5% year over year.
Investor note: In particular, in 38107 the median price rose 0.3% and inventory dipped 3.9%. Also, Memphis code-violation records for this ZIP code can lead you to distressed houses.
Max offer when the ARV equals the median price: $179,999 × 70% − $14,000 repairs = $111,999 max offer
Also see the full 38107 market report on Realtor.com →
Then view 38107 homes on Zillow →
ZIP 38108 · Memphis · $114,900 · Buy & hold
Market snapshot: Memphis (38108)
| Metric | Value |
|---|---|
| Median listing price | $114,900 ▲ 21.1% |
| Price per sq ft | $107 |
| Days on market | 130 days ▲ 80.6% |
| Median rent | $1,025 ▲ 28.1% |
| Active listings | 178 ▲ 46.7% |
| Gross rent yield | 10.7% |
Also, the Zillow Home Value Index in Memphis ZIP 38108 is $72,485 as of August 2026, down 4.7% from a year earlier and the lowest on this list.
Investor note: In particular, 38108 homes sit longer than in the other Memphis ZIP codes here, which builds motivation. The median price is up 21.1% and inventory is up 46.7%, so run the 70% Rule before any negotiation.
Max offer when the ARV equals the median price: $114,900 × 70% − $9,000 repairs = $71,430 max offer
Also see the full 38108 market report on Realtor.com →
Then view 38108 homes on Zillow →
ZIP 38111 · Memphis · $204,900 · Negotiate
Market snapshot: Memphis (38111)
| Metric | Value |
|---|---|
| Median listing price | $204,900 ▼ 12.2% |
| Price per sq ft | $141 |
| Days on market | 68 days ▲ 37.7% |
| Median rent | $1,295 ▲ 8.4% |
| Active listings | 287 ▲ 2.8% |
| Gross rent yield | 7.6% |
Moreover, Memphis ZIP 38111 posts a Zillow Home Value Index of $134,734 in August 2026, 1.7% below the prior year.
Investor note: In particular, the 38111 median price fell 12.2% from a year earlier, so pair each deal with a Memphis buyer who already owns in this ZIP code.
Max offer when the ARV equals the median price: $204,900 × 70% − $16,000 repairs = $127,430 max offer
Also see the full 38111 market report on Realtor.com →
Then view 38111 homes on Zillow →
ZIP 38116 · Whitehaven · $159,900 · Negotiate
Market snapshot: Whitehaven (38116)
| Metric | Value |
|---|---|
| Median listing price | $159,900 ▼ 5.9% |
| Price per sq ft | $96 |
| Days on market | 55 days ▲ 28.9% |
| Median rent | $1,197 ▼ 13.6% |
| Active listings | 115 ▲ 33.7% |
| Gross rent yield | 9.0% |
Meanwhile, Whitehaven (38116) has a Zillow Home Value Index of $156,691 as of August 2026, down 0.9% over the year.
Investor note: In particular, Whitehaven homes sell faster than in any other Memphis ZIP code here. The median price slipped 5.9% and inventory climbed 33.7%, so the profit comes from deep discounts on off-market 38116 houses.
Max offer when the ARV equals the median price: $159,900 × 70% − $13,000 repairs = $98,930 max offer
Also see the full 38116 market report on Realtor.com →
Then view 38116 homes on Zillow →
ZIP 38117 · East Memphis · $279,900 · Negotiate
Market snapshot: East Memphis (38117)
| Metric | Value |
|---|---|
| Median listing price | $279,900 ▼ 10.4% |
| Price per sq ft | $170 |
| Days on market | 71 days ▲ 20.7% |
| Median rent | $1,485 ▼ 0.7% |
| Active listings | 257 ▲ 11.7% |
| Gross rent yield | 6.4% |
In addition, East Memphis (38117) shows a Zillow Home Value Index of $268,148 for August 2026, down 1.2% from a year earlier.
Investor note: In particular, the East Memphis median price is down 10.4% and inventory is up 11.7%, so lock in cash buyers before you sign a 38117 contract.
Max offer when the ARV equals the median price: $279,900 × 70% − $22,000 repairs = $173,930 max offer
Also see the full 38117 market report on Realtor.com →
Then view 38117 homes on Zillow →
ZIP 38119 · East Memphis · $299,700 · Negotiate
Market snapshot: East Memphis (38119)
| Metric | Value |
|---|---|
| Median listing price | $299,700 ▼ 10.7% |
| Price per sq ft | $138 |
| Days on market | 58 days ▼ 6.2% |
| Median rent | $1,800 ▲ 3.1% |
| Active listings | 127 ▼ 1.4% |
| Gross rent yield | 7.2% |
Similarly, East Memphis (38119) carries a Zillow Home Value Index of $292,321 as of August 2026, a 1.4% annual drop.
Investor note: In particular, the 38119 median price fell 10.7% over the year. However, compare ARV only with sales inside this Hickory Hill ZIP code, not the whole city.
Max offer when the ARV equals the median price: $299,700 × 70% − $24,000 repairs = $185,790 max offer
Also see the full 38119 market report on Realtor.com →
Then view 38119 homes on Zillow →
ZIP 38122 · Memphis · $171,570 · Negotiate
Market snapshot: Memphis (38122)
| Metric | Value |
|---|---|
| Median listing price | $171,570 ▼ 4.2% |
| Price per sq ft | $132 |
| Days on market | 109 days ▲ 127.1% |
| Median rent | $1,195 ▼ 2% |
| Active listings | 182 ▲ 54.4% |
| Gross rent yield | 8.4% |
Also, Memphis ZIP 38122 has a Zillow Home Value Index of $125,711 as of August 2026, down 3.6% from a year before.
Investor note: In particular, in 38122 the median price is down 4.2% and inventory is up 54.4%, the biggest inventory jump on this Memphis list, so pull probate and pre-foreclosure leads here first.
Max offer when the ARV equals the median price: $171,570 × 70% − $14,000 repairs = $106,099 max offer
Also see the full 38122 market report on Realtor.com →
Then view 38122 homes on Zillow →
ZIP 38127 · Memphis · $95,000 · Negotiate
Market snapshot: Memphis (38127)
| Metric | Value |
|---|---|
| Median listing price | $95,000 ▼ 7.6% |
| Price per sq ft | $85 |
| Days on market | 58 days ▼ 7.7% |
| Median rent | $1,085 ▼ 5.7% |
| Active listings | 334 ▲ 10% |
| Gross rent yield | 13.7% |
Moreover, the Memphis ZIP 38127 Zillow Home Value Index is $90,536 as of August 2026, 6.5% lower than a year earlier.
Investor note: In particular, 38127 has the lowest entry price of these Memphis ZIP codes, a good match for wholesaling and first flips. The median price is down 7.6% and inventory is up 10%, so your fee depends on buying far below retail.
Max offer when the ARV equals the median price: $95,000 × 70% − $8,000 repairs = $58,500 max offer
Also see the full 38127 market report on Realtor.com →
Then view 38127 homes on Zillow →
Memphis gross rent yield is 12 months of median rent divided by the median listing price, and max offers assume repairs at 8% of the median price.
Who buys wholesale deals in Memphis?
Sign up Memphis buyers before your first seller contract. In general, landlords, flippers, and small builders with cash who can close quickly should top your list.
How do Tennessee contract assignments work for Memphis wholesalers?
A practical guide to wholesaling in Memphis
This section walks Memphis investors through wholesaling, whether you have closed dozens of deals or none. Specifically, it covers finding sellers, running numbers, and lining up buyers in Shelby County.
It also covers marketing to Memphis sellers and how your buyers finance their purchases, so you can protect your margin.
In particular, you will see how to find motivated Memphis sellers, analyze a deal, build a buyer list, and close an assignment. Also, the examples use the ZIP code numbers on this page, from 38127 to 38103.
Whether you want side income or a full-time investing business, use this guide as a working checklist for your first Memphis deals.
Benefits of Wholesale Real Estate in Memphis, TN
As a result, wholesaling is a reasonable first step for new Memphis investors who do not want to risk much capital. Steady marketing and follow-up matter more than money at this stage.
Wholesale Real Estate and Potential for Quick Profits
A wholesaler who negotiates well and knows Memphis buyers can turn a distressed house into a fee quickly. Done consistently, those Memphis fees can become a steady income.
Wholesaling also teaches the Memphis market from the ground up.
In addition, every Memphis deal sharpens your comp analysis, contract negotiation, and buyer relationships. That knowledge carries over if you later flip or hold rentals in Shelby County yourself.
Wholesale Real Estate Strategies in Memphis, TN
Those channels include postcards, door-knocking, and online ads. Your message should speak to Memphis owners facing foreclosure, money trouble, or another reason to sell fast.
Meanwhile, the other half of the business is a strong cash buyer list. For instance, flippers and landlords who already own in Memphis give you a ready pool of buyers for each contract.
Meet those buyers at local investment groups, online forums, and social media groups focused on Memphis. Learn what each Memphis buyer wants so you only send deals that fit.
Tools help too. A customer relationship management (CRM) system and ForeclosuresDaily.com's platform keep Memphis leads, calls, and follow-ups organized.
Similarly, search engine optimization (SEO) and social media ads can widen your reach to Memphis sellers. Moreover, testing new methods helps a Memphis wholesaler streamline the process and close more profitable deals.
Finding Wholesale Real Estate Deals
Retail sites such as Zillow, Auction.com, and the local MLS show what Memphis homes sell for, even though they rarely list wholesale prices. Use them to spot Memphis houses priced below market, and watch for listings that have sat for a long time, since that often signals a motivated seller.
Overlooked Point: Building Relationships
For example, real estate agents, property managers, and other Memphis investors often know about owners who want out. As a result, regular Memphis meetups build the trust that leads to referrals and shared deals.
Online platforms and social media can also surface Memphis sellers. Also, Craigslist, Facebook Marketplace, and investor groups are worth checking for Memphis owners who want a quick sale.
Likewise, ads aimed at Memphis owners who need to sell fast can build a steady lead pipeline. Overall, combining direct mail with online tools raises your odds of finding good Memphis deals. New customers get 25% off when they sign up for our Memphis, TN wholesale real estate platform.
Analyzing Opportunities
Then pull comparable sales, or comps, from the same Memphis neighborhood to judge market price. The comps show whether the house is underpriced and what it could sell for after repairs.
Also, inspect the condition and scope of repairs on every Memphis house. For example, a walkthrough can uncover structural problems or old systems, and an accurate repair estimate keeps your profit math honest.
Holding costs such as Shelby County property taxes and utilities cut into margins. Track Memphis price and rent trends and demand in each ZIP code before you commit.
Interest rate moves and zoning changes can affect whether a Memphis deal closes. As a result, wholesalers who watch those shifts lower their risk and protect their Memphis returns.
Competing for Wholesale Real Estate in Memphis, TN
Conclusion: Taking Action
Learn the process, use proven strategies, and practice negotiating. Above all, success in Memphis comes from consistent action: contacting motivated sellers and building relationships that bring in deals.
Ultimately, Wholesale Real Estate Begins with a Single Step
ForeclosuresDaily off-market opportunities before your competition
Memphis at a glance
In general, Tennessee foreclosures are usually nonjudicial.
The trustee auctions the home after at least 20 days’ notice, two newspaper ads and 20 days of online posting, and the former owner can redeem within two years unless the deed of trust waives that right. Reaching Memphis owners early gives a wholesaler time to assign the contract.
Sources: U.S. Census Bureau QuickFacts, Memphis city, Tennessee (2020 to 2024 American Community Survey; population estimate for July 1, 2025) and state foreclosure law summary.
In fact, since 2004, ForeclosuresDaily.com has helped investors, wholesalers, flippers, and agents reach motivated sellers first.
Why off-market deals work
Wholesaling questions for Memphis
What is the process for wholesaling a Memphis house?
Is wholesaling legal in Tennessee?
What can a Memphis assignment fee look like?
Which Memphis ZIP codes have the cheapest homes?
What triggers foreclosures in Memphis?
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Off-market Memphis data covering Downtown, Midtown, and neighborhoods across the city.