Renovated Three-Bedroom
For Sale
$320,000
1333 Harbert Ave, Memphis, TN 38104
Two spacious units combine refreshed interiors, private outdoor areas, and owner-occupant flexibility with existing rental income.
Property Size3,199 SF
Price / SF$100.03
Days on Market15
Property Features for 1333 Harbert Ave
General Information
Standard status
Active
Size
3,199 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Amenities
private balconies/patio
washer and dryer
Building Details
Buildings
1
Listing Agency:
Harbur Realty
(901) 496-8193
Listed By:
Sherry Harbur
(901) 496-8193
Source:
Exprealty
Added: Jul 22
Changed: Aug 4
Last Checked: Aug 4 at 1:50AM
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 Harbur Realty
Investment Insights
Based on property information with market context.
This 3,199-square-foot duplex includes two three-bedroom units, each with one renovated bathroom, an updated kitchen, a large living room with built-in shelving, and a separate dining area. Both residences include appliance packages with washers and dryers. Private balconies or patio areas extend the living space, while newer central heating and air conditioning support year-round comfort. The roof has also been recently conditioned.
The property currently produces rental income, with one lease scheduled to expire in September. That timing may support an owner-occupant arrangement in which one unit is occupied while the other remains rented. The separate-unit layout, generous room sizes, and refreshed components provide a practical combination of residential use and income-producing capability.
The property currently produces rental income, with one lease scheduled to expire in September. That timing may support an owner-occupant arrangement in which one unit is occupied while the other remains rented. The separate-unit layout, generous room sizes, and refreshed components provide a practical combination of residential use and income-producing capability.
Key Highlights
- 3,199 SF duplex with two three‑bedroom units
- Each unit includes one renovated bathroom and an updated kitchen
- Large living rooms feature built‑in shelving, plus separate dining rooms
Financial Insights For Multifamily LT 5
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 | $41.1k | $12.84 |
| − Vacancy | −$2.5k | −$0.79 |
| EGI | $38.5k | $12.05 |
| − OpEx | −$11.6k | −$3.61 |
| NOI | $27.0k | $8.43 |
3,199 SF · lease $12.84/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$385.4K
$337.2K – $449.7K
NOI $26,979 @ 7.0% cap · market cap 8.43%
Second Best
Apartment 5plus
$341.2K
$298.6K – $398.1K
NOI $23,887 @ 7.0% cap · market cap 7.46%
Theoretical Best
Office A
$945.4K
$827.3K – $1.10M
NOI $66,181 @ 7.0% cap · market cap 20.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,007
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two spacious units combine refreshed interiors, private outdoor areas, and owner-occupant flexibility with existing rental income.
Where is this duplex located?
The property is located at 1333 Harbert Ave Memphis, TN.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 3,199 SF duplex with two three‑bedroom units; Each unit includes one renovated bathroom and an updated kitchen; Large living rooms feature built‑in shelving, plus separate dining rooms
