Neighborhood
Parkway Village
Memphis, Tennessee US
Parkway Village, Memphis, Tennessee is a high-yield market with a gross yield of 11.2 and prices about 29% below the city median and 59% below the state median. Over the past year, prices moved down 0.6%, while the Red Flag score is 66, walkability is 70, and education is in the 5th percentile. The main strength is the yield and walkability; the main risk is the elevated Red Flag score.
AI Summary•Updated May 2026
Area
10.96 mi²
ZIP Code
38118
County
Shelby County
State
Tennessee
Redfin — median sale & volumeZillow ZORI — asking rentFEMA National Risk Index v1.20OpenStreetMap — POIFBI UCR — state crimeEPA — radon zonesWashU ACAG — satellite PM2.5EPA FRS / BTS — hazard screeningUS Census ACS / TIGER 2024
Verified Price · Median Sale
$134,960
YoY-0.6%
Gross Rental Yield
11.2%
Listed rent · ZORI annualized
Red Flag Index
High
66 / 100
Walkability Score
70
OpenStreetMap POI density · national percentile
Education Score
5 / 100
Pre-pandemic SEDA (2018/19) · district proxy
AI Score
59
DistrictScore attractiveness · national model
Parkway Village Property Prices & Rental Yield
Verified Redfin sale data and Zillow ZORI asking rent for Parkway Village, Memphis.
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Sign in to view — freeMarket Economics Snapshot
May 2026| Metric | Value | YoY |
|---|---|---|
| Median Sale Price | $134,960 | -0.6% |
| Price / Sq Ft (Verified) | $88/sqft | +0.7% |
| Asking Rent (Median) | $1,255/mo | +2.7% |
| Gross Rental Yield | 11.2% | — |
| Liquidity Score | 25 / 100 | Low |
| Homes Sold (Period) | 60 | +20.0% |
Is Parkway Village Safe? Natural-Hazard Risk
FEMA National Risk Index composite across eight hazards, plus inherited Tennessee crime context.
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Sign in to view — free What Stands Out AI Insight
Above-average gross rental yield at 11.2%
Highly walkable neighborhood — score 70/100
Active transaction volume — 60 homes sold last period
Earthquake risk is Very High (100/100)
Tornado risk is Very High (100/100)
Insights are generated from Parkway Village's live DistrictScore metrics.
Parkway Village Environment & Safety
Satellite PM2.5 air-quality history, FBI UCR crime trend (Tennessee-level, the finest official aggregation), EPA radon potential and point-source hazard screening.
Air Quality — PM2.5
2015–20246.0 µg/m³ Meets EPA, above WHO guideline+2.5% since 2015
EPA 9WHO 5
20152024
Annual mean fine-particle (PM2.5) concentration at the Parkway Village centroid, satellite-derived (ACAG). References: WHO guideline 5 µg/m³ · EPA annual standard 9 µg/m³. Latest year ranks worse than 51% of U.S. neighborhoods.
Tennessee Crime Trend
FBI UCR20132024
All crimes / 1k
Violent / 1k
| Year | Crimes / 1k | Violent / 1k | YoY |
|---|---|---|---|
| 2024 | 26.2 | 5.9 | -11.8% |
| 2023 | 30.1 | 6.4 | +2.8% |
| 2022 | 29.7 | 6.4 | +2.6% |
| 2021 | 29.3 | 6.7 | -6.4% |
| 2020 | 31.7 | 6.7 | -2.1% |
| 2019 | 32.6 | 6.0 | — |
Reported at the state level — the finest official US crime aggregation; Parkway Village inherits the Tennessee figures.
Radon Potential
EPAZone 3
Zone 3 — Lowest potential · Parkway Village
EPA radon zones estimate indoor radon potential county-wide (Zone 1 highest, Zone 3 lowest). Testing is recommended in all zones.
Environmental Hazards
EPA / BTSSuperfund (NPL)1.6 kmHigh
Industrial odor3 nearbyVery High
Point-source screening near Parkway Village: EPA Superfund National Priorities List & Facility Registry (2026), BTS aviation noise (2020, 24-hour average level). Superfund shows distance to the nearest listed site; odor shows detected sources within the screening radius. Only detected sources are listed; the bar shows severity vs. all U.S. neighborhoods.
Walkability & Amenities in Parkway Village
Amenity density and pedestrian access from OpenStreetMap points of interest.
Walkability & Amenities
OpenStreetMap POI70
Very Walkable
Walkability Score
6
Grocery
7
Dining
38
Schools
3
Universities
1
Hospitals
1
Pharmacies
8
Parks
0
Rail Transit
0
Coworking
POI counts are amenities within Parkway Village's boundary plus a 400 m walk buffer. Rail transit excludes bus stops.
Parkway Village vs Memphis vs Tennessee
How Parkway Village benchmarks against its city and state medians.
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Compare Parkway Village against Memphis and Tennessee medians — free with a DistrictScore account.
Sign in to view — freeBuying Property in the US as a Foreigner
Federal & Tennessee tax facts for non-resident buyers, plus the latest local market news.
Buying as a Foreigner
US Tax & OwnershipApplies to everyone7
Capital Gains (Federal)
Long-term capital gains taxed federally at 0/15/20%, plus a 3.8% Net Investment Income Tax on higher incomes (2026).
Property Tax
Property tax: ~0.46% average effective rate (statewide average; set and collected locally).
State Income Tax
No state income tax — rental income is not taxed at the state level.
State Capital Gains
No state capital gains tax.
Transfer Tax
Real estate transfer tax: 0.37%.
Assessment Cap
No Proposition 13-style assessment cap; property is reassessed at market value.
Mansion Tax / Rent Control
No statewide mansion tax or statewide rent control.
US citizens & tax residents6
Primary-Home Exclusion
Selling your main home: exclude up to $250k of gain (single) / $500k (married) if you owned and lived there 2 of the last 5 years.
1031 Like-Kind Exchange
A 1031 like-kind exchange defers capital gains tax on investment property; 45 days to identify, 180 to close. Real estate only.
Depreciation Recapture
Residential rentals depreciate over 27.5 years; on sale, recaptured depreciation is taxed up to 25% (Section 1250).
Mortgage Interest Deduction
Mortgage interest is deductible on up to $750k of home debt. The SALT cap rose to $40,000 for 2025-2029 (reverts to $10k in 2030).
Opportunity Zones
Opportunity Zones are now permanent (2025): reinvested capital gains get deferral plus a basis step-up, and are tax-free after 10 years.
Rental Income (Resident)
Rental income is reported on Schedule E; passive-loss rules (Section 469) limit deducting rental losses against other income.
Foreign buyers (non-residents)5
FIRPTA (Foreign Sellers)
FIRPTA: the buyer withholds 15% of the gross sale price when a nonresident sells US property. It is an advance deposit, not the final tax.
Non-Resident Capital Gains
Nonresident sellers pay US capital gains tax (generally 15-20%) on the net gain via Form 1040-NR; FIRPTA withholding is credited.
Non-Resident Rental Tax
Nonresident rental income is taxed at 30% of gross by default, or on net income at graduated rates via a Section 871(d) election (W-8ECI).
Estate Tax (Non-Resident)
Nonresidents get only a $60,000 US estate-tax exemption (vs $13.99M for residents); US property above it is taxed up to 40%. Treaties may help.
ITIN Requirement
Nonresidents without an SSN need an ITIN (Form W-7) to file US tax returns, claim FIRPTA refunds, and report rental income.
Talk to a US real-estate tax advisor
FIRPTA, ITIN & Tennessee property-tax guidance for foreign buyers
Parkway Village Real Estate FAQ
Parkway Village, Memphis, Tennessee shows a gross yield of 11.2 and prices about 29% below the city median and 59% below the state median. Over the past year, prices moved down 0.6%, while the Red Flag score is 66. The numbers point to strong income potential with a higher overall risk reading.
Neighborhoods near Parkway Village
Compare Parkway Village with nearby neighborhoods in Memphis.
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