Memphis Duplex: Turnkey Investment
2428 VOLLINTINE Ave, Memphis, TN 38108
- Added:
- Mar 9, 2026
- Days on Market:
- 86
- Last Refresh:
- Jun 2 at 11:06 pm
Property Features for 2428 VOLLINTINE Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Bedroom 2, Bedroom 1, Bathroom 1, Bathroom 2
- Standard status
- Active
- Size
- 1,224 SF
Taxes and HOA fees
- Tax Annual Amount
- 1814
Building Details
- Year built
- 1940
- Architectural style
- Other
Listing agent Jeremy Veldman (662) 418-7511
Listing office KAIZEN Realty, LLC 7540 North Street, Germantown, TN (901) 221-4041
Listing date Mar 9, 2026
MLS# 10216384
Listing URL
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.
HighLights
- Turnkey duplex generating $1,500/month with leases in place.
- Fully renovated in 2023 including new roof, AC, furnace, water heater, plumbing, and electrical updates.
- Consistent tenant payment history.
- Professionally managed with tenant ledger and maintenance records available.
- Cash‑flowing property.
- Both units are currently occupied.
Overview
This is a turnkey, cash-flowing duplex located in Memphis, TN, suitable for investors. The property generates $1,500 per month, with each unit contributing $750. Leases are in place through the end of the year, and both tenants have a consistent payment history. The property was fully renovated in 2023, including a new roof, AC, furnace, water heater, plumbing, and electrical updates, as well as cosmetic improvements. The property is professionally managed, and tenant ledger and maintenance records are available upon request. The property size is 1224 square feet.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $15.7k | $12.84 |
| − Vacancy | −$970 | −$0.79 |
| EGI | $14.7k | $12.05 |
| − OpEx | −$4.4k | −$3.61 |
| NOI | $10.3k | $8.43 |
1,224 SF · lease $12.84/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$147.5K
$129.0K – $172.1K
NOI $10,323 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$130.6K
$114.2K – $152.3K
NOI $9,139 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$361.7K
$316.5K – $422.0K
NOI $25,322 @ 7.0% cap · market cap 14.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.976511
- Latitude
- 35.162861
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Cash-flowing duplex in Memphis, fully renovated in 2023.
Where is this duplex located?
The property is located at 2428 VOLLINTINE Ave Memphis, TN.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Turnkey duplex generating $1,500/month with leases in place.; Fully renovated in 2023 including new roof, AC, furnace, water heater, plumbing, and electrical updates.; Consistent tenant payment history.
