Wholesaling Real Estate in Shelby County, Tennessee
Also, Shelby County wholesalers make money by tying up discounted homes with a purchase contract and assigning that contract to a cash investor, never buying or renovating the house themselves. From Memphis to Arlington, the fee is the profit.
In addition, most Shelby County foreclosures are trustee sales held without a court case. As a result, the time before the auction is short and wholesalers who reach owners first get the better contracts.
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Shelby County, Tennessee housing market at a glance
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.
Reasons to wholesale in Shelby County
In general, wholesaling in Shelby County calls for earnest money and a signed contract, not a mortgage. Overall, the Memphis-area buyer who takes your assignment pays for repairs. As a result, you never manage a crew, and many deals close in weeks.
A county that size generates probate estates, divorces, and trustee sale notices all year. In addition, Shelby County wholesalers who track those records and reach owners early secure most of the good off-market deals.
Working a Shelby County wholesale deal
A Shelby County contract usually runs through these steps from lead to fee:
- Find a distressed property
So, pull Shelby County lists of heirs, tired landlords, and owners whose lenders just recorded a substitution of trustee. - Run the numbers
So, price the after-repair value (ARV) from renovated sales in the same ZIP code, because Memphis values swing widely between areas such as 38127 and 38117. - Sign a purchase contract
So, reach a Shelby County price that keeps profit in the deal for your buyer and leaves room for your fee. - Find a cash buyer
In general, offer the contract to Memphis flippers, landlords, and cash buyers on your list. - Assign the contract
Overall, put your Shelby County contract rights in the buyer's hands with a written assignment that names your fee. - Collect your fee
So, get your fee from the buyer's funds when the Shelby County closing is done.
Motivated sellers who want to liquidate fast
Generally, ForeclosuresDaily.com’s off-market real estate platform covers every major distress signal in Shelby County, cross-referenced with tax rolls and property appraiser records.
Calculating a Shelby County offer
Also, each Shelby County offer starts with the ARV, the value a home should carry once repaired.
In addition, the 70% Rule limits a Shelby County buyer to 70% of ARV minus repairs. In addition, your fee comes out of that limit, which means your price with the seller 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 |
Shelby County ZIP codes for Memphis-area wholesaling
In general, begin with these Shelby County ZIP codes, from Arlington to Germantown, and widen the search as buyers show you where they want deals. Overall, each card breaks down one ZIP code.
ZIP 38002 · Arlington · $514,900 · Negotiate
Market snapshot: Arlington (38002)
| Metric | Value |
|---|---|
| Median listing price | $514,900 ▼ 4.8% |
| Price per sq ft | $176 |
| Days on market | 54 days ▼ 7.6% |
| Median rent | $2,195 ▲ 0.7% |
| Active listings | 202 ▲ 26.5% |
| Gross rent yield | 5.1% |
Arlington (38002) has a Zillow Home Value Index of $407,338 for August 2026, down 1.6% from a year earlier.
Arlington is a town in the U.S. state of Tennessee. Also, it is one of the seven municipalities in Shelby County. Generally, the town was officially incorporated as Haysville in 1878 and again as Arlington in 1900. Population: 14,549 (2020 census).
Investor note: Arlington is one of Shelby County's seven municipalities and has its own government. As a result, check its code-violation, vacant-property, and rental-registration lists for 38002. Sales are limited, so confirm every comp and keep a local buyers list, and use probate, pre-foreclosure, and absentee-owner leads to find sellers.
Max offer when the ARV equals the median price: $514,900 × 70% − $41,000 repairs = $319,430 max offer
ZIP 38028 · Eads · $669,900 · Negotiate
Market snapshot: Eads (38028)
| Metric | Value |
|---|---|
| Median listing price | $669,900 ▼ 13% |
| Price per sq ft | $193 |
| Days on market | 88 days ▼ 8.3% |
| Median rent | n/a |
| Active listings | 59 ▲ 17.4% |
| Gross rent yield | n/a |
Eads (38028) shows a Zillow Home Value Index of $606,435 as of August 2026, down 0.2% and the highest value on this page.
Eads is an unincorporated community in Shelby County, Tennessee, named after Civil War engineer James Buchanan Eads. Also, some parts of Eads have been annexed by the city of Memphis. In addition, some of its area is currently still unincorporated. In general, Eads is located north of Collierville, west of Somerville, and east of Memphis and Bartlett.
Investor note: Parts of Eads have been annexed by Memphis while the rest stays unincorporated. As a result, confirm which jurisdiction holds permits, liens, and code records for each 38028 address.
Max offer when the ARV equals the median price: $669,900 × 70% − $54,000 repairs = $414,930 max offer
ZIP 38105 · Memphis · $212,400 · Flip & wholesale
Market snapshot: Memphis (38105)
| Metric | Value |
|---|---|
| Median listing price | $212,400 ▲ 2.9% |
| Price per sq ft | $140 |
| Days on market | 80 days ▼ 11.1% |
| Median rent | n/a |
| Active listings | 43 ▲ 50% |
| Gross rent yield | n/a |
Memphis 38105 posts a Zillow Home Value Index of $112,314 for August 2026, down 1.4% over the year.
Memphis is a city in Shelby County, Tennessee, and its county seat. Overall, european exploration of the area began with Spanish conquistador Hernando de Soto in 1541.
Generally, located on the high Chickasaw Bluffs, the site offered natural protection from Mississippi River flooding and became a contested location in the colonial era. Population: 633,104 (2020 census). Also, ZIP 38105 covers the western part of Memphis, about 4 miles from the center of the city.
Investor note: ZIP 38105, on the western side of Memphis near the Mississippi River, can include homes where flood zones matter, so check them before setting ARV. A city of 633,104 people also means plenty of comps for pricing.
Max offer when the ARV equals the median price: $212,400 × 70% − $17,000 repairs = $131,680 max offer
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% |
Memphis 38108 has a Zillow Home Value Index of $72,485 as of August 2026, down 4.7% and the lowest value in this guide.
In addition, ZIP 38108 covers the central part of Memphis.
Investor note: Central Memphis ZIP 38108 has many older homes and rentals. As a result, check city rental-registration and code-violation records before you write an offer.
Max offer when the ARV equals the median price: $114,900 × 70% − $9,000 repairs = $71,430 max offer
ZIP 38114 · Memphis · $125,000 · Buy & hold
Market snapshot: Memphis (38114)
| Metric | Value |
|---|---|
| Median listing price | $125,000 ▼ 1.2% |
| Price per sq ft | $110 |
| Days on market | 88 days ▲ 20% |
| Median rent | $1,250 |
| Active listings | 152 ▼ 8.5% |
| Gross rent yield | 12.0% |
Memphis 38114 shows a Zillow Home Value Index of $74,680 for August 2026, down 7.3%, the steepest decline on this page.
In general, ZIP 38114 covers the southern part of Memphis, about 4 miles from the center of the city.
Investor note: Southern Memphis ZIP 38114 trades far below other city ZIP codes, so compare deals only with sales inside 38114.
Max offer when the ARV equals the median price: $125,000 × 70% − $10,000 repairs = $77,500 max offer
ZIP 38117 · Memphis · $279,900 · Negotiate
Market snapshot: 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% |
Memphis 38117 carries a Zillow Home Value Index of $268,148 as of August 2026, down 1.2%.
Overall, ZIP 38117 covers the southeastern part of Memphis, about 5 miles from the center of the city.
Max offer when the ARV equals the median price: $279,900 × 70% − $22,000 repairs = $173,930 max offer
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% |
Memphis 38122, about 2 miles east of the center, has a Zillow Home Value Index of $125,711 for August 2026, down 3.6%.
Generally, ZIP 38122 covers the eastern part of Memphis, about 2 miles from the center of the city.
Max offer when the ARV equals the median price: $171,570 × 70% − $14,000 repairs = $106,099 max offer
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% |
Memphis 38127 posts a Zillow Home Value Index of $90,536 as of August 2026, down 6.5% over the year.
Also, ZIP 38127 covers the northwestern part of Memphis, about 7 miles from the center of the city.
Max offer when the ARV equals the median price: $95,000 × 70% − $8,000 repairs = $58,500 max offer
ZIP 38133 · Memphis · $314,975 · Negotiate
Market snapshot: Memphis (38133)
| Metric | Value |
|---|---|
| Median listing price | $314,975 ▲ 9.1% |
| Price per sq ft | $170 |
| Days on market | 54 days ▲ 40.7% |
| Median rent | $1,750 ▲ 5.3% |
| Active listings | 50 ▲ 5.9% |
| Gross rent yield | 6.7% |
Memphis 38133, about 10 miles east of the center, shows a Zillow Home Value Index of $273,316 for August 2026, down 0.3%.
In addition, ZIP 38133 covers the eastern part of Memphis, about 10 miles from the center of the city.
Max offer when the ARV equals the median price: $314,975 × 70% − $25,000 repairs = $195,483 max offer
ZIP 38138 · Germantown · $475,900 · Flip
Market snapshot: Germantown (38138)
| Metric | Value |
|---|---|
| Median listing price | $475,900 ▼ 1.9% |
| Price per sq ft | $174 |
| Days on market | 63 days ▲ 3.3% |
| Median rent | $2,775 ▲ 11.9% |
| Active listings | 184 ▲ 11.3% |
| Gross rent yield | 7.0% |
Germantown (38138) has a Zillow Home Value Index of $435,308 as of August 2026, down 1.6% and below its $475,900 median listing.
Germantown is a city in Shelby County, Tennessee. Also, it was given a Malcolm Baldrige National Quality Award for Performance Excellence in 2019. Germantown is an eastern suburb of Memphis. In general, Germantown was founded in 1841 by mostly German emigrants. Overall, the town hosts festivals year-round to celebrate their history and German culture. Population: 41,333 (2020 census).
Investor note: Germantown is an eastern Memphis suburb of about 41,333 people, and owner-occupant demand in 38138 supports retail resales and quick assignments.
Max offer when the ARV equals the median price: $475,900 × 70% − $38,000 repairs = $295,130 max offer
For the Shelby County cards, gross rent yield is 12 months of median rent over the median listing price, and the max offer assumes repairs at 8% of that price.
Finding cash buyers for Shelby County
Also, Shelby County deals move fast, so build your buyer list ahead of any seller contract. In addition, flippers, landlords, and small builders who pay cash and close fast take most Memphis assignments.
How assignment contracts work in Tennessee
Generally, each state sets its own wholesaling rules. As a result, check whether Tennessee requires disclosures or a license for anything you plan to do. Also, a Tennessee real estate attorney can check your paperwork before the first Shelby County contract goes to buyers.
ForeclosuresDaily off-market opportunities before your competition
Shelby County at a glance
Tennessee foreclosures are usually nonjudicial.
In addition, 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. In general, an early contract can help a Shelby County owner sell before the sale date.
Sources: U.S. Census Bureau QuickFacts, Shelby County, 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.
Shelby County wholesaling FAQ
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Get Shelby County wholesale leads today
Overall, current, targeted seller leads for Arlington, Eads, Memphis, and the rest of Shelby County.