23 Hours Ago
Location
4045 Summer Ave, Memphis, TN 38122, USA
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Management
Multi-South Management
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Property Overview
Grahamwood Place is highly rated with an overall score of 8.3 out of 10 due to its exceptional location, price, and amenities, making it an attractive option for renters. It offers a competitive pricing structure and an impressive range of amenities while boasting a trustworthiness rating of 7 out of 10, reflecting transparency in property management. Additionally, its proximity to a top-rated elementary school adds to its appeal, placing it in the 85.71 percentile for value per square foot within the area.
This summary uses Zumper’s proprietary data. “Zumper Expert Ratings” and “Things you’ll love” are based on our internal analyses of market trends and renter insights.
Things you’ll love
More space- Elementary school nearby
Floor plans
| 1 bedroom 1 bathroom | 1 bed | 1 bath | 750 sqft | $699 /mo | 4 units available | ||
| 2 bedroom 1.5 bathroom | 2 bed | 1.5 bath | 950 sqft | $825 /mo | 22 units available | ||
| 3 bedroom 2 bathroom | 3 bed | 2 bath | 1,150 sqft | $949 /mo |
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Policies and fees
Applicants
Application Fee
One-time.
$25
REQUIRED FEES
Deposit
One-time. Refundable: 100%.
$500
SITUATIONAL FEES
Questions about this property’s policies and fees?
Building details
Property details
| Units | 166 |
|---|
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About Grahamwood Place
Grahamwood Place cost $699–$949 per month. Located at 4045 Summer Ave, Memphis, TN 38122, USA, Grahamwood Place has 1 — 3 bedroom units available. Based on the average rent price of 3 bedrooms in Memphis, renting an apartment at Grahamwood Place is 27% cheaper per month.Other apartment buildings in or around Memphis include but are not limited to: One Dr. Martin Luther King Jr. Ave, 420 Monroe Ave, 125 Gayoso Ave, 199 S Mclean Blvd
Zumper Expert Rating
Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
8.3
/10
Very GoodWith a solid 8.3 out of 10 overall, Grahamwood Place is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Grahamwood Place has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
Price·10A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
Grahamwood Place offers an excellent balance between price and value. It's priced competitively for its amenities, location, and other key features. Compared to the median price per bedroom in the area, this property is less than, or about the same as, nearby rentals, so residents can expect great value without too many compromises on their desired standard of living.
Amenities·8A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
With multiple in-demand amenities, Grahamwood Place is committed to enhancing the renting experience. And while it may have fewer total conveniences and features than similar rentals nearby, it remains a top choice for renters wanting an specific standard of living.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
Grahamwood Place is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·6A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
While Grahamwood Place does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·7A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
Grahamwood Place provides some information about the features available in the community and its apartments, making it a reliable option for prospective renters. Renters should ask additional questions about amenities and non-negotiable items they are looking for.
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 Grahamwood Place compares to other nearby properties.
Positives
- More space
- The 2-bedroom is 100 sqft larger than other listings nearby
- Elementary school nearby
- There is an elementary school 0.1 mile away
Considerations
- Greater distance from middle schools
- The nearest middle school is farther than 1 mile away
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Rent trends in Memphis
1-bedroom apartments here are priced 24% lower than 1-bedrooms in Memphis.
If you decide to upgrade your space, you can expect 2-bedrooms at Grahamwood Place to be 17% less than the average for similarly sized apartments in Memphis.
3-bedroom apartments at Grahamwood Place cost about 27% less than the average rent price for 3-bedroom apartments in Memphis.
Median rents as of Mar 14 2026.
Memphis
| Month | Median Rent |
|---|---|
| March 2024 | $650 |
| April 2024 | $705 |
| May 2024 | $769 |
| June 2024 | $765 |
| July 2024 | $885 |
| August 2024 | $1,110 |
| September 2024 | $1,155 |
| October 2024 | $1,160 |
| November 2024 | $1,148 |
| December 2024 | $1,172 |
| January 2025 | $1,220 |
| February 2025 | $1,211 |
| March 2025 | $1,196 |
| April 2025 | $1,217 |
| May 2025 | $1,225 |
| June 2025 | $1,210 |
| July 2025 | $1,195 |
| August 2025 | $1,194 |
| September 2025 | $1,158 |
| October 2025 | $1,159 |
| November 2025 | $1,183 |
| December 2025 | $904 |
| January 2026 | $858 |
| February 2026 | $1,202 |
| March 2026 | $1,211 |
Affordability calculator
Can I afford to live at 4045 Summer Ave?
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
$27,960/yr
With your selected rent-to-income ratio, you'd ideally want to make $27,960 annually to afford this 1-bedroom monthly rent price of $699.
For more information on rent affordability, visit our rent calculator.
Schools near Grahamwood Place
Grahamwood Elementary School
3950 summer ave
memphis, TN, 38122
PK, K-5Public
B+
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-
Early Childhood Program Partnering Centers
330 jackson ave
memphis, TN, 38112
PK, KPublic
Exceptional Children Special Placements
160 s hollywood
memphis, TN, 38112
PK, K-12Public
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Internet available near Grahamwood Place
Getting around Memphis near 4045 Summer Ave
Walking
4/10
Some shops and stores are within a few minutes.
Driving
10/10
Commuting is easy with multiple accessible routes and plenty of parking.
Cycling
4/10
This is semi-bikeable, but you’ll need another way of getting around.
Transit
3/10
There are a few mass transit options within the area.
Points of interest for 4045 Summer Ave, Memphis
Groceries
7/10
At least one supermarket within a 15-minute walk
Shopping
6/10
Several shops within walking distance
Cafes
2/10
Some cafés within walking distance
Restaurants
5/10
Some restaurants within a few minutes’ walk
Primary schools
10/10
At least one elementary school within a 5-minute walk
High schools
2/10
At least one high school within a 30-minute walk
Parks
5/10
Moderate amount of park space nearby
Nightlife
2/10
Some bars within walking distance
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