5+ Days Ago
Highlights
- Stainless appliances
- Dedicated staff
- Newly renovated kitchen
- 24/7 maintenance team
Location
229 Montelo Rd, Memphis, TN 38120, USA
Tour 229 Montelo Rd
Contact
Advantage Property Management
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Applicants
One-time.
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REQUIRED FEES
Security Deposit
One-time. Refundable.
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About 229 Montelo Rd
Welcome home! This beautiful, 3 bedroom and 1 bath home is the one you've been seeking. It's newly renovated with a gorgeous kitchen containing stainless appliances, a farm sink and butcher block countertops. The large, fenced yard with exterior storage is located in an extremely desirable area of town just off Walnut Grove. Act fast...this one will not last long! Looking for the perfect rental property? Let Advantage Property Management welcome you home. We have proudly earned our A+ rating with the BBB due to our exceptional customer service, thorough communication and prioritization of our clients. We, too, live and work in Memphis and understand the value of locally owned business. We are proud to be a family owned and operated company that has served our great city for over 15 years and would love to offer our exceptional customer service to you as well. Come experience the Advantage Way. Welcome home. We are proud to offer: 24/7 Maintenance Team: Reporting maintenance issues has never been easier whether it’s online or by phone. After hours issues? No problem! Our dedicated staff work diligently to provide fast service when you need us most. 100% Vetted Vendor Network: We work hard to build long-term relationships with our vendors. Each vendor is screened thoroughly to ensure that everyone servicing your home is reliable, professional, and insured. Online Tenant Portal: Everything you need to take care of business in one place! Rent payments, maintenance requests, contact forms and more can be accessed directly through your online portal. Rental Requirements: -Must make 3 times the rent, and must provide 3 most recent paystubs as proof of income (if moving from out of state, you must show an offer letter of employment) -Must be in good standing with MLGW (provide a recent MLGW bill within the last 30 days) -Provide 3 consecutive bank statements. (Screenshots will not be accepted, statements must be downloaded in full and include all pages from the E-statement. All pages MUST be included.) -Preferred to have one year or more rental history (must upload a copy of a recent tenant ledger) - Preferred to have one year or more with current employer -No prior evictions within the last 5 years (includes rental collections that have been paid and dismissed), no felonies, and no bankruptcy. A one-time lease setup fee of $100.00 will be charged by Advantage Property Management at the time the lease is signed. ***Please note that failure to supply all necessary documents at time of submission will result in automatic cancellation/denial of your application and no refund of the application fee will be given. Providing false and/or misleading information is grounds for termination of application and complete forfeiture of application fee. ***
Property highlights
We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.How 229 Montelo Rd compares to other nearby properties.
Positives
- Elementary school nearby
- There is an elementary school 0.2 mile away
- Middle school nearby
- There is a middle school 0.3 mile away
- Less expensive
- The 3-bedrooms are cheaper than other similar listings nearby
Address details
| Zip code | 38120 |
|---|---|
| Type | House for rent |
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Rent trends in Memphis
3-bedroom apartments at 229 Montelo Rd cost about 15% more than the average rent price for 3-bedroom apartments in Memphis.
Median rents as of May 30 2026.
Memphis
| Month | Median Rent |
|---|---|
| June 2024 | $1,396 |
| July 2024 | $1,399 |
| August 2024 | $1,398 |
| September 2024 | $1,407 |
| October 2024 | $1,396 |
| November 2024 | $1,395 |
| December 2024 | $1,395 |
| January 2025 | $1,395 |
| February 2025 | $1,395 |
| March 2025 | $1,408 |
| April 2025 | $1,415 |
| May 2025 | $1,436 |
| June 2025 | $1,443 |
| July 2025 | $1,424 |
| August 2025 | $1,399 |
| September 2025 | $1,367 |
| October 2025 | $1,338 |
| November 2025 | $1,314 |
| December 2025 | $1,301 |
| January 2026 | $1,295 |
| February 2026 | $1,295 |
| March 2026 | $1,299 |
| April 2026 | $1,342 |
| May 2026 | $1,368 |
Affordability calculator
Can I afford to live at 229 Montelo Rd?
Bedrooms
3 bedroomsRent-to-income ratio
30%
Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income
$64,000/yr
With your selected rent-to-income ratio, you'd ideally want to make $64,000 annually to afford this 3-bedrooms monthly rent price of $1,600.
For more information on rent affordability, visit our rent calculator.
Rent history
The increase or decrease in monthly rent compared to the previous listing price.| 1 year ago | $1,850 |
Schools near 229 Montelo Rd
Richland Elementary School
5440 rich rd
memphis, TN, 38120
PK, K-5Public
A-
Avon School
310 avon rd
memphis, TN, 38117
K-12Public
University of Memphis - University Campus School
535 zach curlin
memphis, TN, 38152
K-5Public
A-
Riverdale Elementary School
7391 neshoba rd
germantown, TN, 38138
PK, K-8Public
A
Early Childhood Program Partnering Centers
330 jackson ave
memphis, TN, 38112
PK, KPublic
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Internet available near 229 Montelo Rd
Neighborhood
Getting around Memphis near 229 Montelo Rd
Walking
4/10
Some shops and stores are within a few minutes.
Driving
9/10
Commuting is easy with multiple accessible routes and plenty of parking.
Cycling
5/10
More spots are within biking distance and some roads are cyclist-friendly.
Transit
1/10
FYI, there are little to no public transit options within walking distance.
Points of interest for 229 Montelo Rd, Memphis
Groceries
1/10
Closest supermarket further than a 30-minute walk
Shopping
5/10
Several shops within walking distance
Cafes
6/10
Some cafés within a few minutes’ walk
Restaurants
4/10
Some restaurants within a few minutes’ walk
Primary schools
9/10
At least one elementary school within a 10-minute walk
High schools
9/10
At least one high school within a 10-minute walk
Parks
7/10
Large amount of park space nearby
Nightlife
1/10
Few or no bars within walking distance
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