Turnkey Duplex Investment
1507 OAKWOOD St Memphis, TN 38108
1507 OAKWOOD St, Memphis, TN, 38108
$139,900
For Sale
$139,900
MULTI_FAMILY - Memphis, TN
Property Size1,357 SF
Price / SF$103.10
Days on Market139
Property Features for 1507 OAKWOOD St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 4, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 2
- Standard status
- Active
- Size
- 1,357 SF
Taxes and HOA fees
- Tax Annual Amount
- 528
Building Details
- Year built
- 1964
- Architectural style
- Other
Listing Agency
Fast Track Realty, LLC
(901) 767-8770
1045 S Yates, Memphis, TN
Listed by
Jonathan Nunez
(901) 453-8455
Added: Mar 3 Checked: Jul 20 at 9:06 am
MLS# 10215834
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.
1507/1509 Oakwood St presents a turnkey duplex with a well-maintained, recently updated interior. The property is configured as a two-unit residence, with one side currently rented and the other side vacant. According to the listing, a prospective tenant is expected to move in within the next couple of weeks.
Located in Memphis, TN 38108 within Shelby County, this income-oriented property offers an owner-occupant friendly setup as well, with the option to live in one side while renting the other.
This duplex investment is positioned for immediate occupancy given the current rental status on one side and the anticipated tenancy timeline for the vacant unit. Size is listed as 1,357 square feet.
Located in Memphis, TN 38108 within Shelby County, this income-oriented property offers an owner-occupant friendly setup as well, with the option to live in one side while renting the other.
This duplex investment is positioned for immediate occupancy given the current rental status on one side and the anticipated tenancy timeline for the vacant unit. Size is listed as 1,357 square feet.
Key Highlights
- Turnkey duplex at 1507/1509 Oakwood built in 1964
- One unit currently rented at $775/month
- Other unit is vacant with a prospective tenant expected to move in in the next couple of weeks at about $800/month
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 | $17.4k | $12.84 |
| − Vacancy | −$1.1k | −$0.79 |
| EGI | $16.3k | $12.05 |
| − OpEx | −$4.9k | −$3.61 |
| NOI | $11.4k | $8.43 |
1,357 SF · lease $12.84/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$163.5K
$143.1K – $190.7K
NOI $11,444 @ 7.0% cap · market cap 8.18%
Second Best
Apartment 5plus
$144.8K
$126.7K – $168.9K
NOI $10,133 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$401.1K
$350.9K – $467.9K
NOI $28,074 @ 7.0% cap · market cap 20.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Recently updated duplex at 1507/1509 Oakwood with one side rented and the other side ready for a tenant.
Where is this duplex located?
The property is located at 1507 OAKWOOD St Memphis, TN.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: Turnkey duplex at 1507/1509 Oakwood built in 1964; One unit currently rented at $775/month; Other unit is vacant with a prospective tenant expected to move in in the next couple of weeks at about $800/month
