Remodeled
For Sale
$144,900
1248 MEDA St, Memphis, TN 38114
Duplexes, Traditional, Memphis, TN
Property Size1,509 SF
Price / SF$96.02
Days on Market256
Property Features for 1248 MEDA St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 1
Subdivision
PARKWAY WOODS S/D
Standard status
Active
Size
1,509 SF
Taxes and HOA fees
Tax Annual Amount
1591
Building Details
Year built
1949
Architectural style
Other
Listing Agency:
JASCO Realty
(855) 524-5478
Listed By:
Justin Yarbrough
(901) 258-6765
Added: Feb 6
Changed: Oct 20
Last Checked: Oct 20 at 7:06PM
MLS# 10214152
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This attached duplex includes two residential units at 1248 and 1250 Meda Street, with a combined property size of 1,509 square feet. Both units were remodeled within the last two years and are currently vacant. The building was constructed in 1949 and includes two bedrooms and one bathroom in the listed room details for each unit.
Key Highlights
- Two attached residential units at 1248 and 1250 Meda Street
- 1,509 square feet of total property size
- Both units remodeled within the last two years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,726
Cap Rate
8.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$254,520
$254.5K
Cap Rate 7%
$181,800
$181.8K
Cap Rate 9%
$141,400
$141.4K
Market Conditions
NOI Build-Up for 1,509 SF
Gross rent
$19.4K $12.84/SF
− Vacancy
−$1.2K −$0.79/SF
EGI
$18.2K $12.05/SF
− OpEx
−$5.5K −$3.61/SF
NOI
$12.7K $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%
$254,520
Cap Rate 7%
$181,800
Cap Rate 9%
$141,400
Alternative Uses
Best Use
Multifamily LT 5
$181.8K
$159.1K – $212.1K
NOI $12,726 @ 7.0% cap · market cap 8.78%
Second Best
Apartment 5plus
$161.0K
$140.9K – $187.8K
NOI $11,268 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$446.0K
$390.2K – $520.3K
NOI $31,218 @ 7.0% cap · market cap 21.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
Explore this area
Business Placement
Demographics for 38114, TN
23,559
Population
12,252
Households
1.9
Avg Household Size
38
Median Age
14%
College-Educated
82%
High-School Grad
7.6 sq mi
ZIP Area
3,100
Density / Sq Mi
$32,080
Median Household Income
$28,570
Median Earnings
$897
Median Rent
$79,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two attached residential units were remodeled within the last two years and are currently vacant.
Where is this duplex located?
The property is located at 1248 MEDA St 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: Two attached residential units at 1248 and 1250 Meda Street; 1,509 square feet of total property size; Both units remodeled within the last two years
