17 Hours Ago
Location
4045 Summer Ave, Memphis, TN 38122, USA
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Multi-South Management
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Property Overview
Grahamwood Place-New receives high marks across multiple dimensions, featuring an impressive expert rating of 8.3 out of 10, reflecting its overall appeal to renters. The property excels with a perfect price rating of 10, an amenities rating of 8, and a location rating of 9, indicating a desirable living experience with convenient access to essential services. Additionally, it ranks in the top percentiles for value for money and value per square foot, further establishing its competitive edge in the real estate market.
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
Elementary school nearby- More space
- Less expensive
Floor plans
| 1 bedroom 1 bathroom | 1 bed | 1 bath | 750 sqft | $699 /mo | 6 units available | ||
| 2 bedroom 1.5 bathroom | 2 bed | 1.5 bath | 950 sqft | $825 /mo | 38 units available | ||
| 3 bedroom 2 bathroom | 3 bed | 2 bath | 1,150 sqft | $949 /mo | 2 units available |
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Policies and fees
Applicants
Applicants
One-time.
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REQUIRED FEES
Deposit
One-time. Refundable: 100%.
$500
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Building details
Property details
| Units | 165 |
|---|
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About Grahamwood Place-New
Grahamwood Place-New cost $699–$949 per month. Located at 4045 Summer Ave, Memphis, TN 38122, USA, Grahamwood Place-New has 1 — 3 bedroom units available. Based on the average rent price of 3 bedrooms in Memphis, renting an apartment at Grahamwood Place-New is 27% cheaper per month.Other apartment buildings in or around Memphis include but are not limited to: 1810 W Wolfchase Cir, One Dr. Martin Luther King Jr. Ave, 1835 Union Ave, 125 Gayoso Ave
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-New is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Grahamwood Place-New 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-New 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-New 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-New 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-New 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-New 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-New compares to other nearby properties.
Positives
- Elementary school nearby
- There is an elementary school 0.1 mile away
- More space
- The 2-bedroom is 100 sqft larger than other listings nearby
- Less expensive
- The 2-bedrooms are cheaper than other similar listings nearby
Considerations
- Greater distance from middle schools
- The nearest middle school is farther than 1 mile away
- Greater distance from high schools
- The nearest high 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-New to be 18% less than the average for similarly sized apartments in Memphis.
3-bedroom apartments at Grahamwood Place-New cost about 27% less than the average rent price for 3-bedroom apartments in Memphis.
Median rents as of Jan 10 2026.
Memphis
| Month | Median Rent |
|---|---|
| February 2024 | $650 |
| 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 | $806 |
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-New
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
Shrine School
4259 forest view dr
memphis, TN, 38118
PK, K-12Public
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Internet available near Grahamwood Place-New
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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