Strong bones and generous square footage set the stage for successful Memphis turnkey investment. Located at 4994 Harvest Knoll Lane in Memphis, Tennessee, this four-bedroom, two-and-a-half-bath single-family home offers 2,613 square feet, a two-car garage, and no HOA. Built in 1993, the property had excellent space and layout but needed comprehensive updates across major systems and finishes to transform it into a high-performing Memphis turnkey investment property for real estate investors seeking passive income.
The home's generous square footage made it particularly attractive for larger families in the Memphis rental market. By addressing critical infrastructure and pairing it with thoughtful interior updates, we were able to deliver a move-in ready Memphis rental property built for strong performance. This property was a perfect example of how comprehensive renovations and turnkey property management can turn a dated home into a dependable, low-maintenance Memphis rental ready to perform from day one.
The Rehab Breakdown
The work prioritized major system replacements and interior upgrades designed to minimize future maintenance while creating broad resident appeal. Our turnkey renovation team focused on protecting the asset while delivering a clean, updated Memphis investment home built for rental performance.
Key Improvements Include:
Major system upgrades: New roof, new furnace, and new AC unit were installed to reduce future maintenance costs. Professional electrical, plumbing, and HVAC repairs were completed by licensed contractors throughout.
Exterior updates: The exterior was pressure washed and received fresh paint on siding, trim, and doors. Multiple windows were replaced with new double-pane vinyl, damaged wood and siding were replaced, new fencing was installed around the yard, and a new garage motor was installed.
Kitchen and bathroom renovations: The kitchen received new countertops, backsplash, painted cabinets with repairs, vent-a-hood, and new dishwasher. Both bathrooms were updated with new vanity light fixtures, mirrors, toilets, and new tile shower surrounds.
Flooring and interior finishes: New carpet and vinyl plank flooring were installed throughout the rental home. All walls, ceilings, trim, and baseboards received fresh paint. New blinds, doorknobs, doorstops, and smoke detectors were installed throughout.
Final touches: Garage door repairs completed, all locks were rekeyed, professional landscaping was completed, pool was filled in, and full cleaning ensured move-in readiness.
All the work listed and more was completed with a final rehab budget of $82,425, resulting in a clean, updated, low-maintenance Memphis investment property designed to perform as a true turnkey rental.
See the transformation for yourself:-Jun-22-2026-03-52-02-4789-PM.png?width=605&height=605&name=Transformation%20Tuesday%20(2)-Jun-22-2026-03-52-02-4789-PM.png)
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Why Invest in Memphis, TN for Turnkey Real Estate??
Memphis continues to be a standout market for turnkey real estate investors thanks to its affordability, strong rental demand, and diverse economy. As a major logistics and distribution hub—home to FedEx's global headquarters—Memphis benefits from stable employment, consistent population growth, and ongoing demand for quality rental housing. Memphis real estate investors benefit from strong cash flow potential and accessible entry points compared to other major metros.
For turnkey real estate investors looking to build a passive income portfolio through Memphis rental properties, the market stands out for its accessible price points and strong appreciation potential. Larger turnkey homes like this—properly updated, competitively priced, and move-in ready—are especially attractive to families seeking spacious Memphis rental homes, making them ideal holds for real estate investors seeking stability and predictable returns.
Bottom Line
4994 Harvest Knoll Lane is proof that you don't have to do too much to get great results—just the right things. Thoughtful updates and a clear strategy turned this home into a solid, turnkey-ready investment property.
Interested in learning more about this Memphis turnkey property or investing in Memphis real estate? Contact our team today and see how thoughtful renovations and proven Memphis property management can help you build a turnkey real estate portfolio with confidence.
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