Flipping · Market Playbook
How to Flip Houses in Memphis, TN
Flipping in Memphis lives or dies on two numbers: median sale price ($145k) and YoY appreciation (-3.2%). The arithmetic of your exit is what those numbers say it is.
Data: Zillow Research (via scrape.do) · As of April 2026
Memphis is rough for flips right now — softening comps or slow exits chew margin. Pivot to BRRRR or wholesale if the math doesn't clear.
- → Median sale $144,983 · YoY -3.2%
- → Median DOM 33 days — fast exit
- → 13.8% sold above list — priced-right is enough
- → Underwrite to 67-68% of ARV (ARV slippage risk)
Memphis's flip math starts at a median sale price of $144,983 and a YoY trajectory of -3.2%. Appreciation has reversed — that's a flip headwind. You can still make money, but you can't underwrite to today's comps and assume they'll hold by the time you list. Run your ARV at -3% to -5% of current median.
Your exit speed depends on buyer urgency. Memphis's median DOM is 33 days against a sale-to-list ratio of 0.972 and 13.8% of sales closing above list. That's a moderate-paced market — 30-45 days from list-to-close is the realistic budget. Underwrite to that, not to the optimistic 21-day flip-tape narrative.
Rehab scope discipline is the other half. At a $145k median sale, Memphis is a lower-price-point market. The rehab math is unforgiving here — every $5k over budget eats 2-3% of your profit. Standardize finishes (IKEA cabinets, mid-grade LVP, no quartz) and refuse the temptation to "elevate."
Net: the 70% rule (purchase + rehab + carry + closing ≤ 70% of ARV) is the only thing keeping flippers solvent. Memphis's data demands you tighten to 67-68% to protect against further ARV slippage.
Memphis at a glance
The numbers above pull from the full Memphis market report.
- Median value
- $147k
- YoY
- -3.2%
- Median rent
- $1,256
- Gross yield
- 10.23%
Other strategies for Memphis
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