Renovated
For Sale
$126,900
1351 AUSTIN St, Memphis, TN 38108
Duplexes, Traditional, Memphis, TN
Property Size1,508 SF
Price / SF$84.15
Days on Market37
Property Features for 1351 AUSTIN St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1
Subdivision
SOUTH HYDE PARK
Standard status
Active
Size
1,508 SF
Taxes and HOA fees
Tax Annual Amount
771
Building Details
Year built
1985
Architectural style
Other
Listing Agency:
Sell901 Real Estate
(901) 431-6876
Listed By:
Zach Thomas
(901) 674-1612
Added: Sep 2
Changed: Sep 25
Last Checked: Oct 8 at 4:06AM
MLS# 10229607
Copyright © 2026 Memphis Area Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,508-square-foot duplex was built in 1985 and has undergone a full renovation. The property includes four bedrooms and two bathrooms across its two units, with both sides currently occupied by tenants. Professional property management is already in place.
Located at 1351 Austin St in Memphis, Tennessee, the property is in ZIP Code 38108. Tenant contact should be coordinated through the appropriate representative rather than through direct solicitation at the property.
Located at 1351 Austin St in Memphis, Tennessee, the property is in ZIP Code 38108. Tenant contact should be coordinated through the appropriate representative rather than through direct solicitation at the property.
Key Highlights
- 1,508‑square‑foot duplex with two residential units
- Built in 1985 and fully renovated
- Both units are currently occupied by tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,260
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$225,200
$225.2K
Cap Rate 7%
$160,857
$160.9K
Cap Rate 9%
$125,111
$125.1K
Market Conditions
NOI Build-Up for 1,508 SF
Gross rent
$21.9K $14.52/SF
− Vacancy
−$1.4K −$0.94/SF
EGI
$20.5K $13.58/SF
− OpEx
−$9.2K −$6.11/SF
NOI
$11.3K $7.47/SF
Area
Memphis, TN
Vacancy
6.50%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$225,200
Cap Rate 7%
$160,857
Cap Rate 9%
$125,111
Alternative Uses
Best Use
Multifamily LT 5
$181.7K
$159.0K – $212.0K
NOI $12,718 @ 7.0% cap · market cap 10.02%
Second Best
Apartment 5plus
$160.9K
$140.8K – $187.7K
NOI $11,260 @ 7.0% cap · market cap 8.87%
Theoretical Best
Office A
$445.7K
$390.0K – $520.0K
NOI $31,198 @ 7.0% cap · market cap 24.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
314
Businesses Nearby
Explore this area
Business Placement
Demographics for 38108, TN
17,051
Population
7,881
Households
2.2
Avg Household Size
34
Median Age
11%
College-Educated
73%
High-School Grad
7.6 sq mi
ZIP Area
2,244
Density / Sq Mi
$35,435
Median Household Income
$32,126
Median Earnings
$921
Median Rent
$62,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with occupied units and professional management in place.
Where is this duplex located?
The property is located at 1351 AUSTIN St Memphis, TN.
What is the asking price?
The asking price for this property is $126,900.
What are key features of this property?
This property features: 1,508‑square‑foot duplex with two residential units; Built in 1985 and fully renovated; Both units are currently occupied by tenants
