589 Madewood Dr, Memphis, TN, 38103
About This Home
Welcome to this beautifully maintained 2-story home in the prestigious gated South Bluffs community of Downtown Memphis. This low-maintenance residence offers exceptional value in one of the area’s most exclusive neighborhoods. Featuring hardwood floors, high ceilings, a gas fireplace, and an updated eat-in kitchen with stainless steel appliances, this 2 bed / 2.5 bath home is move-in ready. Both bedrooms are en-suite with updated bathrooms, and the primary suite includes a large walk-in closet with organizers. Recent updates include a newer roof, HVAC system, water heater, and fresh interior/exterior paint. Enjoy outdoor living on the covered porch, upstairs screened balcony, and fenced patio — perfect for relaxing or entertaining. The home includes two private parking spaces in this secure, gated community with quiet streets and a private park. Optional amenities include pool, tennis/pickleball courts and a 24-hour gym. *HOA fee of just $100/month.
Getting Around
Somewhat Walkable
Some Transit
BikeableSchools
Construction
Condition
- Year built: 1994
Materials
- Foundation: Slab
- Roof: Composition Shingles
- Construction materials: Wood/Composition
Type & Style
- Home type: SingleFamily
- Architectural style: Traditional
- Property subType: Single Family Residence
Interior
Appliances
- Appliances included: Electric Water Heater,Dishwasher,Disposal,Dryer,Range/Oven,Refrigerator,Washer
- Laundry features: Laundry Room,Laundry Closet
Bedroom2
- Features: Private Full Bath
- Level: Second
- Area: 144
Bedrooms & Bathrooms
- Bedrooms: 2
- Bathrooms: 3
- Full bathrooms: 2
- 1/2 bathrooms: 1
Den
- Area: 156
Dining Room
- Features: Separate Dining Room
- Area: 100
Features
- All Bedrooms Up,Primary Up,Renovated Bathroom,High Ceilings,Smooth Ceiling,Cable Wired,Walk-In Closet(s),1/2 Bath,Den/Great Room,Dining Room,Kitchen,Laundry Room,2 or More Baths,2nd Bedroom,Primary Bedroom,Square Feet Source: Appraisal
- Door features: Storm Door(s)
- Window features: Double Pane Windows,Excl Some Window Treatmnt
- Flooring: Part Carpet,Part Hardwood
- Number of fireplaces: 1
- Fireplace features: In Den/Great Room,Masonry
- Fireplace: Yes
- Attic: Pull Down Stairs
Heating & Cooling
- Heating features: Central
- Cooling features: Ceiling Fan(s),Central Air
Interior Area
- Total interior livable area: 1,200 sqft
Kitchen
- Features: Breakfast Bar,Eat-in Kitchen,Pantry,Updated/Renovated Kitchen
- Area: 90
Living Room
- Features: Separate Den
Master Bathroom
- Features: Smooth Ceiling,Tile Floor,Full Bath
Master Bedroom
- Features: Smooth Ceiling,Walk-In Closet(s)
- Level: First
- Area: 144
Property
Details
- Parcel number: 002083 B00005
Features
- Stories: 2
- Pool features: Community,Neighborhood
- Patio & porch: Porch,Screen Porch,Covered Patio
- Exterior features: Courtyard,Balcony,Enclosed Balcony,Sidewalks
- Fencing: Wood,Wood Fence
- Has view: Yes
- View description: Water
- Has water view: Yes
- Water view: Water
Lot
- Lot size: 2,178 sqft
- Features: Corner Lot,Level,Professionally Landscaped,Some Trees,Well Landscaped Grounds
- Lot size dimensions: 24 x 110
Parking
- Total spaces: 1
- Parking features: Assigned,Guest,Driveway/Pad
- Covered spaces: 1
- Has uncovered spaces: Yes
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Cold Wave
- Heat Wave
- Inland Flooding
- Tornado
- Earthquake
How This Home’s Risks Compare
FEMA Declared Disasters Across Tennessee Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $1,618 | $19,416 |
| Home Insurance | $227 | $2,724 |
| Property Taxes | $258 | $3,096 |
| Electricity | $175 | $2,103 |
| Total | $2,278 | $27,336 |
Income You'd Need if You Spent...
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2026-08-11 | Pending sale | $320,000 |
| 2026-07-17 | Price change | $320,000 |
| 2026-07-16 | Price change | $327,000 |
| 2026-06-23 | Price change | $329,999 |
| 2026-06-04 | Listed for sale | $339,000 |
| 2025-12-08 | Listing removed | $2,300 |
| 2025-12-04 | Listing removed | $337,500 |
| 2025-11-21 | Listed for rent | $2,300 |
| 2025-11-03 | Price change | $337,500 |
| 2025-10-27 | Price change | $340,000 |
| 2025-10-16 | Price change | $342,000 |
| 2025-10-09 | Price change | $343,499 |
| 2025-10-05 | Price change | $344,900 |
| 2025-09-23 | Price change | $345,000 |
| 2025-09-16 | Price change | $347,500 |
| 2025-09-12 | Price change | $349,900 |
| 2025-09-06 | Price change | $349,990 |
| 2025-06-19 | Price change | $349,999 |
| 2025-06-03 | Price change | $359,000 |
| 2025-05-15 | Price change | $362,500 |
| 2025-04-16 | Price change | $364,499 |
| 2025-04-15 | Price change | $364,990 |
| 2025-04-10 | Price change | $364,999 |
| 2025-04-04 | Listed for sale | $365,000 |
| 2025-03-13 | Pending sale | $365,000 |
| 2013-09-17 | Sold | $183,000 |
| 2004-09-08 | Sold | $189,000 |
| 2000-01-07 | Sold | $145,000 |
View on Zillow