Renovated
1211 AZALIA St, Memphis, TN 38106
For Sale
New
$139,900
Duplexes, Traditional, Memphis, TN
Property Size1,350 SF
Price / SF$103.63
Days on Market1
Property Features for 1211 AZALIA St
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Subdivision
Standard status
Size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Building Details
Year built
Architectural style
Buildings
Listing Agency:
Renshaw Company, REALTORS
(901) 820-4367
Listed By:
Caleb Parr · License TN #340494
(901) 484-0478
Added: Nov 9
Last Checked: Nov 9 at 9:06PM
MLS# 10234045
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.
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Investment Insights
Based on property information with market context.
This 1,350-square-foot duplex, built in 1959, has undergone updates to its roof, kitchens, bathrooms, electrical, water heaters, light fixtures, and flooring. One unit is leased; the other is being marketed for rent.
Located at 1211 Azalia St in Memphis, the property is identified with the 38106 ZIP code.
Located at 1211 Azalia St in Memphis, the property is identified with the 38106 ZIP code.
Key Highlights
- 1,350‑square‑foot duplex
- Built in 1959
- Roof, electrical, water heaters, and light fixtures have been updated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,385
Cap Rate
8.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,700
$227.7K
Cap Rate 7%
$162,643
$162.6K
Cap Rate 9%
$126,500
$126.5K
Market Conditions
NOI Build-Up for 1,350 SF
Gross rent
$17.3K $12.84/SF
− Vacancy
−$1.1K −$0.79/SF
EGI
$16.3K $12.05/SF
− OpEx
−$4.9K −$3.61/SF
NOI
$11.4K $8.43/SF
Area
Memphis, TN
Vacancy
6.17%
Lease Rate
$12.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,700
Cap Rate 7%
$162,643
Cap Rate 9%
$126,500
Alternative Uses
Best Use
Multifamily LT 5
$162.6K
$142.3K – $189.8K
NOI $11,385 @ 7.0% cap · market cap 8.14%
Second Best
Apartment 5plus
$144.0K
$126.0K – $168.0K
NOI $10,080 @ 7.0% cap · market cap 7.21%
Theoretical Best
Office A
$399.0K
$349.1K – $465.5K
NOI $27,929 @ 7.0% cap · market cap 19.96%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
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Business Placement
Demographics for 38106, TN
22,394
Population
11,630
Households
1.9
Avg Household Size
41
Median Age
12%
College-Educated
83%
High-School Grad
10.4 sq mi
ZIP Area
2,153
Density / Sq Mi
$29,818
Median Household Income
$30,101
Median Earnings
$915
Median Rent
$66,400
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Memphis, TN
Properties on Market for Duplexes in Memphis
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Updated kitchens, bathrooms, electrical, roof, water heaters, lighting, and flooring equip the two-unit property.
Where is this duplex located?
The property is located at 1211 AZALIA St Memphis, TN.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: 1,350‑square‑foot duplex; Built in 1959; Roof, electrical, water heaters, and light fixtures have been updated
