Zumper
modified
5+ Days Ago

Highlights

  • Pet Friendly
  • Open kitchen
  • Professionally managed
  • Fenced-in backyard
  • Ample storage
  • Comfortable living space
  • Formal dining room

Location

5017 Penwood Cove, Memphis, Tennessee 38118, United States

Tour 5017 Penwood Cove

Contact

PPMG Alabama

(844) 326-4677 ext. 9831

Property Overview

Featuring an open kitchen and a formal dining room, this property offers comfortable living space and ample storage, complemented by a fenced-in backyard ideal for outdoor activities. Located just 0.37 miles from the nearest grocery store and with public transport accessibility, it is designed to cater to a convenient lifestyle. Additionally, the property stands out in value per square foot within its area percentile, while being pet-friendly further enhances its appeal.

This summary uses Zumper’s proprietary data. “Things you’ll love” and “Great for” are based on our internal analyses of market trends and renter insights.

Things you’ll love

  • More space
  • Images Available
  • Laundry available on site

Great for

  • Pet owners

Amenities for 5017 Penwood Cove

Building

Cats OKDogs OK
Onsite Laundry

Grounds

Outdoor SpaceStorage

Services

On-Site Management
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.

Policies and fees

Applicants

Applicants

One-time.

Contact Property

REQUIRED FEES

Security Deposit

One-time. Refundable.

Contact Property

Dog Policy

Allowed

Cat Policy

Allowed

Contact for more information on pet policy.

Questions about this property’s policies and fees?

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About 5017 Penwood Cove

HomeHouses in Memphis 5017 Penwood Cove, Memphis, Tennessee 38118, United States

Now available! This inviting 3-bedroom, 2-bathroom home for rent in Memphis, TN features 1,326 sq ft of comfortable living spaceâ??perfect for families, roommates, or anyone looking for a well-kept place to call home. The bright and airy living room welcomes you with natural light, creating a warm and relaxing atmosphere. Enjoy cooking in the open kitchen with ample storage, and host meals in the formal dining room just steps away. The laundry room with hookups offers everyday convenience, and the fenced-in backyard provides privacy for outdoor activities, pets, or weekend grilling. Professionally managed by Premier Property Management Group. For more details or to schedule a viewing, visit rentpremierhomes. com or call (901) 334-1919. This property allows self guided viewing without an appointment. Contact for details.


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 5017 Penwood Cove compares to other nearby properties.

Positives

More space
The 3-bedroom is 152 sqft larger than other listings nearby
Images Available
There are at least 10 photos of this address
Laundry available on site
Washers and dryers are available in-building or in-unit

Considerations

Greater distance from high schools
The nearest high school is farther than 2 miles away
Greater distance from middle schools
The nearest middle school is farther than 2 miles away
Greater distance from grade schools
The nearest elementary school is farther than 2 miles away

Address details

Zip code38118
TypeHouse for rent

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Rent trends in Memphis

3-bedroom apartments at 5017 Penwood Cove cost about 7% more than the average rent price for 3-bedroom apartments in Memphis.

Median rents as of Dec 6 2025.
Memphis
A table of 3-bedroom apartment rental data trends in Memphis
MonthMedian Rent
December 2023$1,375
January 2024$1,355
February 2024$1,350
March 2024$1,378
April 2024$1,397
May 2024$1,398
June 2024$1,397
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$1,309

Affordability calculator

Can I afford to live at 5017 Penwood Cove?

Bedrooms

3 bedrooms

Rent-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

$55,800/yr

With your selected rent-to-income ratio, you'd ideally want to make $55,800 annually to afford this 3-bedrooms monthly rent price of $1,395.
For more information on rent affordability, visit our rent calculator.

Schools near 5017 Penwood Cove

Shrine School

4259 forest view dr

memphis, TN, 38118

PK, K-12Public

Ridgeway Early Learning Center

3435 3435 ridge meadow pkwy

memphis, TN, 38115

PKPublic

Ross Elementary School

4890 ross rd

memphis, TN, 38141

PK, K-5Public
C

University of Memphis - University Campus School

535 zach curlin

memphis, TN, 38152

K-5Public
A-

Ida B. Wells Academy

995 s lauderdale st

memphis, TN, 38126

K-8Public
C-
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Internet available near 5017 Penwood Cove

Getting around Memphis near 5017 Penwood Cove

Walking

2/10
You’ll need another mode of transportation for getting around. Scooter, anyone?

Driving

9/10
Commuting is easy with multiple accessible routes and plenty of parking.

Cycling

2/10
This is semi-bikeable, but you’ll need another way of getting around.

Transit

0/10
FYI, there are little to no public transit options within walking distance.

Points of interest for 5017 Penwood Cove, Memphis

Groceries

1/10
Closest supermarket further than a 30-minute walk

Shopping

2/10
Few or no shops within walking distance

Cafes

1/10
Few or no cafés within walking distance

Restaurants

3/10
Some restaurants within walking distance

Primary schools

0/10
Closest elementary school further than a 30-minute walk

High schools

0/10
Closest high school further than a 30-minute walk

Parks

5/10
Moderate amount of park space nearby

Nightlife

0/10
Few or no bars within walking distance

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