Renovated Three-Bedroom
1333 Harbert Ave, Memphis, TN 38104
For Sale
$320,000
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 Market97
Property Features for 1333 Harbert Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Amenities
private balconies/patio
washer and dryer
Building Details
Year Built
Buildings
Listing Agency:
Mle Realty, LLC
Listed By:
Stacia Rosatti
(901) 270-9019
Source:
Staciarosatti
Added: Aug 3
Changed: Nov 6
Last Checked: Nov 6 at 8:35AM
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 Mle Realty, LLC
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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
Estimated NOI and Cap Rate
NOI / Yr
$26,979
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$539,580
$539.6K
Cap Rate 7%
$385,414
$385.4K
Cap Rate 9%
$299,767
$299.8K
Market Conditions
NOI Build-Up for 3,199 SF
Gross rent
$41.1K $12.84/SF
− Vacancy
−$2.5K −$0.79/SF
EGI
$38.5K $12.05/SF
− OpEx
−$11.6K −$3.61/SF
NOI
$27.0K $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%
$539,580
Cap Rate 7%
$385,414
Cap Rate 9%
$299,767
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.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,213
Businesses Nearby
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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
$301,100
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Memphis, TN
Properties on Market for Duplexes in Memphis
Vacancy Rate% for Multifamily in South region
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
