1493 GAITHER St Memphis, TN 38106
MULTI_FAMILY - Memphis, TN
Property Features for 1493 GAITHER St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- Size
- 2,700 SF
Taxes and HOA fees
- Tax Annual Amount
- 1509
Building Details
- Year built
- 1970
Listing agent Garth Ward (253) 737-8018
Listing office eXp Realty, LLC 3401 Mallory Lane #100, Nashville, TN (888) 519-5113
Listing date Mar 20, 2026
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.
The property is located at 1493 Gaither St in Memphis, Tennessee, directly next to a park. That immediate proximity to green space can be a meaningful lifestyle consideration for tenants, while also offering an easily relatable benefit when marketing available units. The listing notes that, prior to the renovations, units averaged just under $800 per month.
For buyers evaluating residential income properties, this 4-plex offers a straightforward configuration and a recently updated interior foundation. With the building refreshed and positioned near outdoor recreation, the property may fit tenants looking for a maintained space and operators who prefer fewer visible interior items to address at the start of ownership. For investors or owner-operators, it provides a four-unit platform with recent improvements already in place.
Key Highlights
- Prime location directly next to a park
- Recently updated with new flooring and fresh paint
- Move‑in ready units with a clean, modernized feel
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 | $34.7k | $12.84 |
| − Vacancy | −$2.1k | −$0.79 |
| EGI | $32.5k | $12.05 |
| − OpEx | −$9.8k | −$3.61 |
| NOI | $22.8k | $8.43 |
