Cash-Flowing Duplex in
508 E DISON Ave Memphis, TN 38106
508 E DISON Ave, Memphis, TN, 38106
$144,900
For Sale
$144,900
MULTI_FAMILY - Memphis, TN
Property Size1,694 SF
Price / SF$85.54
Days on Market107
Property Features for 508 E DISON Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 2
- Standard status
- Active
- Size
- 1,694 SF
Taxes and HOA fees
- Tax Annual Amount
- 755
Building Details
- Year built
- 1947
- Architectural style
- Other
Listing agency
KAIZEN Realty, LLC
(901) 221-4041
Listed by
Jeremy Veldman
(662) 418-7511
Added: Apr 7 Updated: Jul 19 at 8:37AM Checked: Jul 22 at 5:06AM
MLS# 10218600
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 is an investment opportunity featuring a cash-flowing duplex. The property generates $1,460 per month from long-term tenants. Unit 508 rents for $650 and has been occupied since December 1, 2018, with a lease extending through November 30, 2026. Unit 510 rents for $810, with the tenant in place since December 1, 2023, and a lease through December 31, 2026. Both tenants have a history of on-time payments. The duplex was renovated in 2018, including a new roof, HVAC system, water heater, and cosmetic updates. The property is professionally managed, and maintenance reports and tenant ledgers are available upon request. The property has a size of 1694 square feet and is located in Memphis, TN.
Key Highlights
- Investors only 2‑unit duplex built in 1947
- Current monthly rent total $1,460: Unit 508 at $650 and Unit 510 at $810
- Long‑term leases in place through 11/30/2026 (Unit 508) and 12/31/2026 (Unit 510)
Local Financial Insights For Apartment 5plus
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 | $24.6k | $14.52 |
| − Vacancy | −$1.6k | −$0.94 |
| EGI | $23.0k | $13.58 |
| − OpEx | −$10.3k | −$6.11 |
| NOI | $12.6k | $7.47 |
1,694 SF · lease $14.52/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$204.1K
$178.6K – $238.1K
NOI $14,286 @ 7.0% cap · market cap 9.86%
Second Best
Apartment 5plus
$180.7K
$158.1K – $210.8K
NOI $12,649 @ 7.0% cap · market cap 8.73%
Theoretical Best
Office A
$500.6K
$438.1K – $584.1K
NOI $35,045 @ 7.0% cap · market cap 24.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Turnkey duplex generating $1,460/month with long-term tenants.
Where is this duplex located?
The property is located at 508 E DISON Ave Memphis, TN.
What is the asking price?
The asking price for this property is $144,900.
What are key features of this property?
This property features: Investors only 2‑unit duplex built in 1947; Current monthly rent total $1,460: Unit 508 at $650 and Unit 510 at $810; Long‑term leases in place through 11/30/2026 (Unit 508) and 12/31/2026 (Unit 510)
