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MEMPHIS OVERVIEW

Located on the Mississippi River, Memphis is one of the largest metropolitan areas. With 4 major Interstate Highways passing through Memphis, the 4th largest inland port in the U.S. and the 2nd largest inter-modal exchange, more major metro areas can be reached overnight from Memphis than any other city in the U.S.


These advantages have made Memphis an ideal location for manufacturing and distribution operations, and resulted in much of Memphis' business development. Today, other major industries have continued to flourish including financial services, food processing, pharmaceuticals, and medical devices and medical care.


                                                      


 

Now the city is home to the largest cargo airport in the world and the world’s busiest domestic airport with 3.9 million metric tonnes. Memphis International Airport and Memphis has had huge significance in the railroad industry.


The city has the 3rd largest rail centre in the U.S. behind Chicago and St. Louis. It is also one of only four U.S. cities with five Class 1 railroads. Because Memphis has been such an important city for transportation and shipping, it is attractive to businesses, especially those producing goods shipped nationwide.


ThreeFortune500 companies, FedEx, AutoZone and International Paper Co. call Memphis home. These significant businesses have brought a large manufacturing industry. Of the 607,900 jobs in Memphis in July 2014, 209,900 are in the Manufacturing.


Now the city is home to the second largest cargo airport in the world and the world’s busiest domestic airport with 3.9 million metric tonnes. Memphis International Airport and Memphis has had huge significance in the railroad industry.


The city has the 3rd largest rail centre in the U.S. behind Chicago and St. Louis. It is also one of only four U.S. cities with five Class 1 railroads.  Because Memphis has been such an important city for transportation and shipping, it is attractive to businesses, especially those producing goods shipped nationwide.


ThreeFortune500 companies, FedEx, AutoZone and International Paper Co. call Memphis home. These significant businesses have brought a large manufacturing industry. Of the 607,900 jobs in Memphis in July 2014; 209,900 are in the Manufacturing.

 

 


THE APPEAL OF MEMPHIS


One of the most attractive features of life in Memphis is the area’s remarkably low cost of living. Daily life In Memphis simply takes a smaller bite out of one’s disposable income. Add to this is the fact that Tennessee is one of the lowest- taxed states per capita in the nation.


Memphis has, in other words, all the amenities that come with being the 20th largest city in the U.S, but at a cost of living nearly 14% below the national metro average. For residents and newcomers, this means more money in their pockets.


RANKINGS

  • Memphis is recognized as a main U.S. distribution centre, as it houses companies such as FedEx’s World Hub
  • Is the 3rd biggest railroad hub (one that the world Famous investor Warren Buffet has recently invested in)
  • Headquarters for many Fortunes 500 companies such as Autozone and International Paper
  • Memphis has a growing biomedical and medical presence
  • Memphis ranks as one of the Least Expensive Urban Areas on COLI.org's Cost of Living Index.
  • Memphis ranked 7th in the nation for tax burden by 24/7 Wall St. 
  • Tennessee has the nation's 3rd-lowest total tax burden (SOURCE: Tax Foundation, 2013)
  • In 2013, Memphis ranked 7th on CBS Money Watch's list for "Top 10 cheapest U.S. Cities to rent an apartment" list. 
  • Forbes recognized Memphis as America’s second most affordable city.

PROPERTY IS ATTRACTIVE TO OWN IN MEMPHIS

Memphis has long been known for its decent, plentiful, and affordable housing. The combination of low cost of housing, high rents, and a high population of renters vs. homeowners has created an ideal opportunity for investors to purchase homes that provide Positive Cash Flow. Among the many attractions to investors today is the fact that Memphis is a city of detached homes at prices below the national average. Making it even more attractive to investors is the fact that it’s a city of middle class renters where 48% of the population rents.


Memphis has more than it’s share of major employers providing high paying jobs. These include International Paper, Fed Ex, Auto Zone, First Horizon, St. Jude Hospital, and others. Memphis is also home the University of Tennessee medical and dental schools and several other several major universities. 


All these and more create a stable rental market. Besides being an air cargo hub for Fed Ex, Memphis is the third largest railroad hub in the country, which Warren Buffet saw fit to invest in. Memphis is ranked high for property appreciation by Moody’s Case Schiller Index. Moody’s projects houses in Memphis will appreciate 18.8% over the next four years. The fourth quarter of 2014 saw an annual appreciation rate of 5.88%.



 

                                       

MAJOR REASONS TO OWN PROPERTY IN MEMPHIS

·                     The overall cost of living runs 10% below the national average

·                     46% of the population rents (National average is 28%)

·                     Memphis has no state income tax

·                     #1 on home affordable housing for retires – CNN Money Magazine

·                     Ranks in the Top 10 metro areas for starting or growing a business – Inc Magazine

·                     Top Ten Cities to Invest in Real Estate – Business 2.0

·                     High rental rates versus home prices

·                     Low Property Taxes

·                     And the #1 reason- HIGH CASH FLOW


Memphis is for the investor who is interested in Great Cash Flow – Cash flow is the new king of Memphis!



MEMPHIS HOUSING MARKET

Trends in Memphis show a 5% year-over-year rise in median sales price.





POPULATION AND HOUSEHOLDS

Sales housing market conditions in the Shelby County sub market are soft, with an estimated 2.0-percent vacancy rate, down from 2.8 percent in April 2010. During the 12 months ending March 2014, 10,450 existing homes (including single-family homes, town homes, and condominiums) sold, a 16-percent increase compared with the number sold during the 12 months ending March 2013 (Core Logic, Inc.) During the 12 months ending March 2014, the average sales price for existing homes was $158,900, a 7-percent increase compared with the average price during the 12 months ending March 2013.

 


COST OF LIVING IN MEMPHIS



MEMPHIS EMPLOYERS








MAJOR EMPLOYERS

·    FEDEX is the largest employer in Memphis and is known to be very supportive and constantly upgrading its staff members. FEDEX global distribution system also makes sure that any product can reach any destination in the minimum of time. Its professionalism and online access system shows the flexibility and swift transaction time needed to process any information and the ease it has in this high tech economy. FedEx employs over 32,000 staff in Memphis.

 

·    St. Jude Children’s Research Hospital is internationally recognized for its pioneering research and treatment of children with cancer and other catastrophic diseases. It offers the facility of an on-site organic garden. It is also known for its employees benefits such as compressed workweek options, telecommuting employees. 

 

·    NIKE has announced recently that it is about to complete its new distribution centre in Memphis, what could be North America's largest distribution center. In addition creating jobs, Nike wants to improve education in the Mid-South. It offers paid sabbaticals and a job sharing program. They employ a large percentage of minorities and women, making it a diverse place to work. The company also offers an in-house fitness center and child care.  

 

·    Memphis International Airport ranges over 3,900 acre and supports four runways carrying more than 10 million passengers annually. It was declared as the world’s busiest cargo airport since 1993, because it houses FedEx’s world hub. On the 24th of February 2015, Memphis International Airport announced that Allegiant Air, the latest low-cost airline in business, will now provide non-stop jet service from Las Vegas, Orlando and Ft. Lauderdale, Fla. First Horizon is subsidiary unit of the First Tennessee Bank National Association which is known for its excellent wealth management and capital services. It puts its employees first. It has ranked on the Fortune list because it offers generous health, vision, and dental benefits.


 

TRANSPORT AND COMMUTING

Memphis, Tennessee has developed into a major Mid-American commercial and transportation hub because of its location on the Mississippi River and because of its numerous rail and highway links. Four rail and highway bridges cross the Mississippi River at Memphis. In addition, Memphis International Airport has become the world's largest airfreight terminal. Travel and shipment of freight are eased by two major Interstate highways, I-40 and I-55, that intersect at Memphis. I-240 is a highway spur that carries traffic around the city. A large volume of railroad freight traffic moves through Memphis, thanks to two Mississippi River railroad crossings. In addition, Memphis is the second busiest cargo port on the Mississippi River. Local public transportation in the Memphis area is provided by the Memphis Area Transit Authority.

 

Memphis International Airport:

Memphis is served by Memphis International Airport, which handles more cargo than any other airport in the world as of 2007. The airport is the international cargo hub for FedEx and became a passenger hub for Delta Air Lines after their merger with Northwest Airlines in 2008.  Passenger airlines providing service to the airport are Air Canada Jazz, AirTran Airways, American Airlines, Continental Airlines, SeaPort Airlines, United Airlines and US Airways. The Tennessee Air National Guard operates the 164th Airlift Wing at the airport.

 

Railroad:

A large volume of railroad freight traffic moves through Memphis, thanks to two Mississippi River railroad crossings. Memphis had two major rail passenger stations, Memphis Union Station, razed in early 1969, and Memphis Central Station, which has been renovated.

 

Mississippi River port:

Memphis also has the 2nd biggest cargo port on the Mississippi River (the 4th biggest inland port in the United States): The International Port of Memphis.

 

Mississippi River bridges:

Four rail and highway bridges cross the Mississippi River at Memphis.


MEMPHIS POINTS OF INTEREST