1503 EASTMORELAND Ave, Memphis, TN 38104
- Added:
- Jun 24, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 25 at 1:06 am
Property Features for 1503 EASTMORELAND Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bathroom 4, Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 3, Bathroom 2
- Standard status
- Active
- Size
- 3,264 SF
Taxes and HOA fees
- Tax Annual Amount
- 4575
Building Details
- Year built
- 1973
- Architectural style
- Other
Listing agent Christina Morris (901) 277-1699
Listing office Hobson, REALTORS 5384 Poplar Ave, Ste 250, Memphis, TN (901) 761-1622
Listing date Jun 24, 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.
HighLights
- Central Gardens duplex built in 1973 with extensive updates in both units
- Right‑side unit renovated in 2024 with fresh paint, new LVP flooring downstairs, and can lighting downstairs
- 2024 kitchen updates include quartz countertops, new oven/range, dishwasher, and refrigerator
- 2024 renovation added a new water heater
- Left‑side unit renovated in 2025 with fresh paint and updated interior finishes
- Duplex layout includes 4 bedrooms and 4 bathrooms based on listed rooms
Overview
The property is located at 1503 Eastmoreland Ave in Memphis, Tennessee 38104, within Shelby County. As a duplex, it provides two separate residential units under one ownership structure, offering straightforward management from a single address.
For buyers looking for a ready-to-operate residential income property, this asset is supported by documented interior improvements completed in 2024 and 2025. The combination of refreshed finishes and kitchen and mechanical upgrades can help reduce near-term renovation needs while maintaining a practical two-unit setup for rental occupancy.
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 | $41.9k | $12.84 |
| − Vacancy | −$2.6k | −$0.79 |
| EGI | $39.3k | $12.05 |
| − OpEx | −$11.8k | −$3.61 |
| NOI | $27.5k | $8.43 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -90.011186
- Latitude
- 35.134936
