Duplex with Central Heating and
1464 PEABODY Ave Memphis, TN 38104
1464 PEABODY Ave, Memphis, TN, 38104
$495,000
For Sale
$495,000
MULTI_FAMILY - Memphis, TN
Property Size4,398 SF
Price / SF$112.55
Days on Market340
Property Features for 1464 PEABODY Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bedroom 4, Bedroom 1, Bathroom 4, Bedroom 6, Bathroom 3, Bathroom 2, Bedroom 5, Bathroom 1, Bedroom 3, Bedroom 2
- Standard status
- Active
- Size
- 4,398 SF
Taxes and HOA fees
- Tax Annual Amount
- 5519
Building Details
- Year built
- 1915
- Architectural style
- Other
Listing Agency
Hobson, REALTORS
(901) 761-1622
5384 Poplar Ave, Ste 250, Memphis, TN
Listed by
Leigh Martin · License #277409
(901) 351-3877
Added: Aug 15, 2025 Updated: Jul 19 at 8:38 am Checked: Jul 20 at 11:06 pm
MLS# 10203609
Listing URL
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.
Investment Insights
Based on property information with market context.
This exceptional duplex is designed for an efficient flow, with bedrooms and bathrooms well placed for everyday living. Each unit offers a spacious layout including a large kitchen, a living room with a fireplace, a dining room, and a sunroom. The upstairs unit features three bedrooms and two bathrooms, and the property is described as mirroring unit layouts between the two sides. Both units include all appliances as well as a washer and dryer, along with central heating and air conditioning. Covered off-street parking is also provided.
Located at 1464 PEABODY Ave in Memphis, Tennessee, the property is described as being just five minutes from the medical and dental schools and about ten minutes from the University of Memphis Law School. The proximity to these education hubs can be especially appealing for tenants looking for a convenient commute.
With two fully equipped, centrally conditioned residences that mirror each other in layout, this duplex may fit buyers seeking a straightforward owner-occupied setup or a turn-key rental investment. The shared configuration, in-unit laundry, and included appliances can help reduce operational friction for an investor, while the spacious interiors can support long-term tenant demand.
Located at 1464 PEABODY Ave in Memphis, Tennessee, the property is described as being just five minutes from the medical and dental schools and about ten minutes from the University of Memphis Law School. The proximity to these education hubs can be especially appealing for tenants looking for a convenient commute.
With two fully equipped, centrally conditioned residences that mirror each other in layout, this duplex may fit buyers seeking a straightforward owner-occupied setup or a turn-key rental investment. The shared configuration, in-unit laundry, and included appliances can help reduce operational friction for an investor, while the spacious interiors can support long-term tenant demand.
Key Highlights
- Duplex built in 1915 with two units, each approximately 2,000 sq ft
- Upstairs unit: 3 bedrooms, 2 bathrooms, living room with fireplace, dining room, and sunroom
- Each unit includes all appliances plus a washer and dryer
Local 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 | $56.5k | $12.84 |
| − Vacancy | −$3.5k | −$0.79 |
| EGI | $53.0k | $12.05 |
| − OpEx | −$15.9k | −$3.61 |
| NOI | $37.1k | $8.43 |
4,398 SF · lease $12.84/SF/yr · vacancy 6.17% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Two mirrored units offer spacious living, large kitchens, and in-unit laundry for an owner-occupant or investor.
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: Duplex built in 1915 with two units, each approximately 2,000 sq ft; Upstairs unit: 3 bedrooms, 2 bathrooms, living room with fireplace, dining room, and sunroom; Each unit includes all appliances plus a washer and dryer
