A Property Priors data note. Every figure is computed from recorded county documents or listings tracked nightly, with its mechanism and window stated inline. Numbers only.
The median Memphis flip netted about $31,000 over the last 24 months. Buy it with 80 percent hard money at 8.5 and the median runs about $29,000. The top zip in the county netted $43,000 on the median deal; the thinnest on this table netted $23,000.
Here is exactly which parts of that are record and which are math. The record: 1,913 completed flips, every one a pair of recorded Shelby County deeds, median buy $87,000, median resale $167,000, median gross spread $83,000, 169 days from purchase deed to resale deed. Most of these flips never touch the MLS and most never file a permit, which is why listing-fed and permit-fed datasets cannot count them. Deeds record every sale. We do the math on the sales. The math, at stated terms you can change in the calculator: 8 percent all-in to sell (a 6 percent listing commission plus closing and concessions), 3 percent to buy, rehab implied by the 70 percent rule ($29,000 on the median pair), and taxes, insurance, and utilities carried for the hold. Hold a license and list your own and the sell side runs about 3 points cheaper, which adds roughly $5,000 to the median net. Nothing here is a survey or a model of what might happen. It is arithmetic on what recorded, at terms printed on the page.
Ranked by modeled net, cash purchase. Every cell is the median of that zip's own per-flip results, not math on the other columns.
| Zip | Flips | Buy | Implied rehab | Resale | Gross spread | Net, cash | Days |
|---|---|---|---|---|---|---|---|
| 38141 | 73 | $129,000 | $25,000 | $225,000 | $91,000 | $43,000 | 154 |
| 38115 | 95 | $122,000 | $29,000 | $218,000 | $91,000 | $41,000 | 154 |
| 38116 | 113 | $103,000 | $35,000 | $196,000 | $94,000 | $38,000 | 169 |
| 38128 | 129 | $88,000 | $29,000 | $167,000 | $80,000 | $32,000 | 167 |
| 38118 | 143 | $90,000 | $31,000 | $169,000 | $81,000 | $32,000 | 164 |
| 38111 | 97 | $78,000 | $35,000 | $160,000 | $82,000 | $30,000 | 172 |
| 38109 | 239 | $67,000 | $33,000 | $142,000 | $77,000 | $27,000 | 171 |
| 38127 | 289 | $72,000 | $26,000 | $136,000 | $68,000 | $25,000 | 171 |
| 38114 | 81 | $45,000 | $39,000 | $122,000 | $75,000 | $24,000 | 170 |
| 38106 | 90 | $42,000 | $41,000 | $120,000 | $76,000 | $23,000 | 196 |
Financed at 80 percent and 8.5, each row runs $2,000 to $4,000 lower. Read the ranking against the gross column and the reversals tell the story. 38116 posts the biggest gross spread in the county, $94,000, and still finishes third on net: the record implies $35,000 of work to get it. 38141 grosses $3,000 less and finishes first, on $25,000 of implied work and a 154 day turn. 38127 runs the most deals on the table, 289, and nets $25,000 on the median. Gross says several of these zips run the same business. Net says they do not.
A zip median is the market, not your deal. This table does not say what the flips within a half mile of your next purchase netted, who bought them and what they paid to get in, or what your exit leases at if the sale runs slow. The per-address read answers those from the same record. Run any Memphis address through Property Priors: the first read is free and takes no email.
Boundaries, stated plainly. A pair classifies as a flip when the resale clears the buy by at least 20 percent; thinner and negative exits are real and sit outside these medians. Implied rehab comes from realized prices under the 70 percent convention, not invoices, and on 269 of the 1,913 pairs the convention implies no work at all (those flips bought above the 70 percent line, so their modeled net leans on the spread alone). Carry is modeled at 1.4 percent tax on the buy, $1,200 a year insurance, $150 a month utilities. Recording lag can shift a pair into a neighboring month. Every figure refreshes nightly as new deeds record.
Every figure on this page is computed from public records and tracked public listings. Public records contain errors, omissions, and recording lags, and coverage windows are stated where each figure appears. No individual property or person is identified beyond what the public record itself names. Nothing here is an appraisal, a broker price opinion, or lending, investment, tax, or legal advice. This is not a consumer report: never use it to screen tenants or to make any decision about an individual person.