Duplex with Updated
New
For Sale
$170,000
1320 FAXON Ave, Memphis, TN 38104
Duplexes, Traditional, Memphis, TN
Property Size1,819 SF
Price / SF$93.46
Days on Market2
Property Features for 1320 FAXON Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 3, Bathroom 1
Subdivision
SPEEDWAY TERR BLK B
Standard status
Active
Size
1,819 SF
Taxes and HOA fees
Tax Annual Amount
1435
Building Details
Year built
1920
Architectural style
Other
Listing Agency:
Crye-Leike, Inc., REALTORS
(901) 756-8900
Listed By:
William Haynes · License #355990
(865) 454-1124
Added: Oct 15
Last Checked: Oct 16 at 12:06AM
MLS# 10232465
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.
Built in 1920, this 1,819-square-foot duplex contains two units, each configured with two bedrooms and one bathroom. Both units are currently rented. Property updates include newer air-conditioning units, updated electrical, and newer windows on the larger side.
The property is near Crosstown Concourse in Memphis.
The property is near Crosstown Concourse in Memphis.
Key Highlights
- Two‑unit duplex with two bedrooms and one bathroom in each unit
- 1,819 square feet
- Built in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,340
Cap Rate
9.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$306,800
$306.8K
Cap Rate 7%
$219,143
$219.1K
Cap Rate 9%
$170,444
$170.4K
Market Conditions
NOI Build-Up for 1,819 SF
Gross rent
$23.4K $12.84/SF
− Vacancy
−$1.4K −$0.79/SF
EGI
$21.9K $12.05/SF
− OpEx
−$6.6K −$3.61/SF
NOI
$15.3K $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%
$306,800
Cap Rate 7%
$219,143
Cap Rate 9%
$170,444
Alternative Uses
Best Use
Multifamily LT 5
$219.1K
$191.8K – $255.7K
NOI $15,340 @ 7.0% cap · market cap 9.02%
Second Best
Apartment 5plus
$194.0K
$169.8K – $226.4K
NOI $13,582 @ 7.0% cap · market cap 7.99%
Theoretical Best
Office A
$537.6K
$470.4K – $627.2K
NOI $37,631 @ 7.0% cap · market cap 22.14%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
622
Businesses Nearby
Explore this area
Business Placement
Demographics for 38104, TN
22,584
Population
14,315
Households
1.6
Avg Household Size
38
Median Age
52%
College-Educated
93%
High-School Grad
5.0 sq mi
ZIP Area
4,517
Density / Sq Mi
$56,452
Median Household Income
$48,300
Median Earnings
$1,073
Median Rent
$301,100
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
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer two bedrooms and one bathroom, with each unit currently rented.
Where is this duplex located?
The property is located at 1320 FAXON Ave Memphis, TN.
What is the asking price?
The asking price for this property is $170,000.
What are key features of this property?
This property features: Two‑unit duplex with two bedrooms and one bathroom in each unit; 1,819 square feet; Built in 1920
