Two-Unit Duplex with Covered
For Sale
$495,000
1464 PEABODY Ave, Memphis, TN 38104
Duplexes, Traditional, Memphis, TN
Property Size4,398 SF
Price / SF$112.55
Days on Market432
Property Features for 1464 PEABODY Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 3, Bedroom 4, Bedroom 6, Bathroom 4, Bathroom 2, Bedroom 1, Bedroom 2
Subdivision
KIMBROUGHS UNION AVE
Standard status
Active
Size
4,398 SF
Taxes and HOA fees
Tax Annual Amount
5519
Amenities
fireplace
sunroom
all appliances
washer and dryer
central heating and air conditioning
covered off-street parking
Building Details
Year built
1915
Architectural style
Other
Listing Agency:
Hobson, REALTORS
(901) 761-1622
Listed By:
Leigh Martin
(901) 351-3877
Added: Aug 15, 2025
Changed: Oct 16
Last Checked: Oct 20 at 8:06PM
MLS# 10203609
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 1915, this duplex contains two similarly arranged residences with spacious living areas and distinctive architectural character. Each unit measures 2,000 square feet and includes bedrooms, bathrooms, a kitchen, all appliances, a washer and dryer, and central heating and air conditioning. The upstairs residence adds a living room with fireplace, dining room, and sunroom, while covered off-street parking serves the property.
The property is located at 1464 Peabody Ave in Memphis, approximately five minutes from the medical and dental schools and ten minutes from the University of Memphis Law School. The mirrored floor plans and established residential design provide a consistent configuration across both units.
The property is located at 1464 Peabody Ave in Memphis, approximately five minutes from the medical and dental schools and ten minutes from the University of Memphis Law School. The mirrored floor plans and established residential design provide a consistent configuration across both units.
Key Highlights
- Two‑unit duplex with 2,000‑square‑foot residences
- Upstairs unit includes 3 bedrooms, 2 bathrooms, fireplace, dining room, and sunroom
- Both units include all appliances, a washer and dryer, and central heating and air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,090
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$741,800
$741.8K
Cap Rate 7%
$529,857
$529.9K
Cap Rate 9%
$412,111
$412.1K
Market Conditions
NOI Build-Up for 4,398 SF
Gross rent
$56.5K $12.84/SF
− Vacancy
−$3.5K −$0.79/SF
EGI
$53.0K $12.05/SF
− OpEx
−$15.9K −$3.61/SF
NOI
$37.1K $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%
$741,800
Cap Rate 7%
$529,857
Cap Rate 9%
$412,111
Alternative Uses
Best Use
Multifamily LT 5
$529.9K
$463.6K – $618.2K
NOI $37,090 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$469.1K
$410.5K – $547.3K
NOI $32,839 @ 7.0% cap · market cap 6.63%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $90,986 @ 7.0% cap · market cap 18.38%
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
2,604
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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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 - Historic duplex with mirrored layouts, substantial living areas, full appliance packages, and central heating and air conditioning.
Where is this duplex located?
The property is located at 1464 PEABODY Ave Memphis, TN.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,000‑square‑foot residences; Upstairs unit includes 3 bedrooms, 2 bathrooms, fireplace, dining room, and sunroom; Both units include all appliances, a washer and dryer, and central heating and air conditioning
