Historic Two-Unit
For Sale
$320,000
1333 HARBERT Ave, Memphis, TN 38104
Duplexes, Memphis, TN
Property Size3,199 SF
Price / SF$100.03
Days on Market94
Property Features for 1333 HARBERT Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bedroom 6, Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 5, Bedroom 1
Subdivision
CARR
Standard status
Active
Size
3,199 SF
Taxes and HOA fees
Tax Annual Amount
3907
Amenities
private balconies/patio
washer and dryer
Building Details
Year built
1927
Listing Agency:
Harbur Realty
(901) 878-3308
Listed By:
Sherry Harbur
(901) 496-8193
Added: Jul 22
Changed: Oct 17
Last Checked: Oct 23 at 10:06PM
MLS# 10226746
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 1927, this 3,199-square-foot duplex contains two residential units, each arranged with three bedrooms and one bathroom. Both units offer generous living rooms with built-in shelving, separate dining rooms, updated kitchens, and appliance packages that include washers and dryers. Renovated bathrooms add to the interior improvements.
Private balconies or patio areas provide outdoor space for the units. The property also features newer central heat and air conditioning, along with a recently conditioned roof. One lease expires in September, and the existing configuration supports an owner-occupant arrangement with one unit available for personal use and the other producing rental income.
Private balconies or patio areas provide outdoor space for the units. The property also features newer central heat and air conditioning, along with a recently conditioned roof. One lease expires in September, and the existing configuration supports an owner-occupant arrangement with one unit available for personal use and the other producing rental income.
Key Highlights
- 3,199‑square‑foot duplex built in 1927
- Two units, each with 3 bedrooms and 1 bathroom
- Updated kitchens and renovated bathrooms
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
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units combine updated interiors, private outdoor areas, and newer central heating and air conditioning.
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‑square‑foot duplex built in 1927; Two units, each with 3 bedrooms and 1 bathroom; Updated kitchens and renovated bathrooms
