Residential Income
1240 ETHEL St Memphis, TN 38114
1240 ETHEL St, Memphis, TN, 38114
$115,000
For Sale
$115,000
MULTI_FAMILY - Memphis, TN
Property Size1,392 SF
Price / SF$82.61
Days on Market31
Property Features for 1240 ETHEL St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 8, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 6, Bedroom 2, Bathroom 1, Bathroom 3, Bedroom 7, Bathroom 4, Bedroom 3, Bedroom 5
- Standard status
- Active
- Size
- 1,392 SF
Taxes and HOA fees
- Tax Annual Amount
- 2599
Building Details
- Year built
- 2013
- Architectural style
- Other
Listing Agency
Assured Real Estate Services
(901) 741-2699
5507 Winchester, Ste 12, Memphis, TN
Listed by
Tina Black
(901) 859-1322
Added: Jun 20 Checked: Jul 20 at 9:06 am
MLS# 10224476
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.
Investment Insights
Based on property information with market context.
This residential income duplex consists of two units, and each unit offers four bedrooms and two bathrooms. The property is being marketed as ready to sell, but repairs are needed.
The duplex is located at 1240 Ethel St in Memphis, Tennessee 38114, in Shelby County.
With a consistent unit layout across both sides, the property provides a straightforward four-bedroom, two-bath configuration in each unit while awaiting needed repairs.
The duplex is located at 1240 Ethel St in Memphis, Tennessee 38114, in Shelby County.
With a consistent unit layout across both sides, the property provides a straightforward four-bedroom, two-bath configuration in each unit while awaiting needed repairs.
Key Highlights
- Year built: 2013
- Each unit offers 4 bedrooms and 2 bathrooms
- Property is being sold as‑is with repairs needed
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 | $20.2k | $14.52 |
| − Vacancy | −$1.3k | −$0.94 |
| EGI | $18.9k | $13.58 |
| − OpEx | −$8.5k | −$6.11 |
| NOI | $10.4k | $7.47 |
1,392 SF · lease $14.52/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$167.7K
$146.7K – $195.7K
NOI $11,739 @ 7.0% cap · market cap 10.21%
Second Best
Apartment 5plus
$148.5K
$129.9K – $173.2K
NOI $10,394 @ 7.0% cap · market cap 9.04%
Theoretical Best
Office A
$411.4K
$360.0K – $480.0K
NOI $28,798 @ 7.0% cap · market cap 25.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Duplex for sale with two units, each featuring four bedrooms and two bathrooms, with repairs needed.
Where is this duplex located?
The property is located at 1240 ETHEL St Memphis, TN.
What is the asking price?
The asking price for this property is $115,000.
What are key features of this property?
This property features: Year built: 2013; Each unit offers 4 bedrooms and 2 bathrooms; Property is being sold as‑is with repairs needed
