Historic Duplex in Speedway
For Sale
$215,000
1220 Snowden Ave, Memphis, TN 38107
Classic 1912 Craftsman duplex, income potential in the heart of Memphis.
Property Size1,572 SF
Price / SF$136.77
Days on Market193
Property Features for 1220 Snowden Ave
General Information
Standard status
Active
Size
1,572 SF
Property subtype
Multi-Family
Building Details
Year Built
1912
Listing Agency:
eXp Realty, LLC
Listed By:
Jordan Ray · License #375004
(901) 325-1164
Source:
Bryanrealty
Added: Mar 27
Changed: Sep 18
Last Checked: Oct 4 at 2:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty, LLC
Investment Insights
Based on property information with market context.
Located in the Speedway Terrace Historic District, this 1912 Craftsman bungalow duplex with Victorian Folk influence offers historic character and income potential. The property, operating as a short-term rental, features two fully furnished units, each with one bed and one bath, providing immediate revenue opportunity. Showcasing the timeless appeal of Memphis’ historic bungalow design, the home offers flexible investment possibilities. Positioned near local amenities, restaurants, and major employment centers, this property is suited for investors looking to capitalize on Memphis’ rental demand. Opportunities to own a fully furnished duplex in Speedway Terrace are rare. The property size is 1572 square feet.
Key Highlights
- Income‑producing duplex: Currently operating as a short‑term rental with immediate revenue.
- Fully furnished units: Both units are move‑in ready and equipped for rental operations.
- Historic charm: Located in the Speedway Terrace Historic District, featuring classic 1912 Craftsman bungalow architecture.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,257
Cap Rate
6.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$265,140
$265.1K
Cap Rate 7%
$189,386
$189.4K
Cap Rate 9%
$147,300
$147.3K
Market Conditions
NOI Build-Up for 1,572 SF
Gross rent
$20.2K $12.84/SF
− Vacancy
−$1.2K −$0.79/SF
EGI
$18.9K $12.05/SF
− OpEx
−$5.7K −$3.61/SF
NOI
$13.3K $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%
$265,140
Cap Rate 7%
$189,386
Cap Rate 9%
$147,300
Alternative Uses
Best Use
Multifamily LT 5
$189.4K
$165.7K – $221.0K
NOI $13,257 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$167.7K
$146.7K – $195.6K
NOI $11,738 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$464.6K
$406.5K – $542.0K
NOI $32,522 @ 7.0% cap · market cap 15.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
608
Businesses Nearby
Explore this area
Business Placement
Demographics for 38107, TN
15,655
Population
8,093
Households
1.9
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
5.4 sq mi
ZIP Area
2,899
Density / Sq Mi
$36,393
Median Household Income
$34,958
Median Earnings
$999
Median Rent
$128,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Classic 1912 Craftsman duplex, income potential in the heart of Memphis.
Where is this duplex located?
The property is located at 1220 Snowden Ave Memphis, TN.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Income‑producing duplex: Currently operating as a short‑term rental with immediate revenue.; Fully furnished units: Both units are move‑in ready and equipped for rental operations.; Historic charm: Located in the Speedway Terrace Historic District, featuring classic 1912 Craftsman bungalow architecture.
