Two-Unit Duplex
New
For Sale
$189,000
1516 NETHERWOOD Ave, Memphis, TN 38106
MULTI_FAMILY - Memphis, TN
Property Size2,000 SF
Price / SF$94.50
Days on Market6
Property Features for 1516 NETHERWOOD Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 2
Subdivision
SOUTHERN TERR
Standard status
Active
Size
2,000 SF
Taxes and HOA fees
Tax Annual Amount
1571
Building Details
Year built
1927
Architectural style
Other
Listing Agency:
KAIZEN Realty, LLC
(901) 221-4041
Listed By:
Jeremy Veldman
(662) 418-7511
Added: Jul 31
Changed: Aug 3
Last Checked: Aug 5 at 4:06AM
MLS# 10227519
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.
Built in 1927, this duplex contains two residential units totaling 2,000 square feet. The unit mix includes a three-bedroom, one-bath residence and a one-bedroom, one-bath residence, creating a varied configuration within one property. Each unit has its own living arrangement and functional interior layout.
The property is located at 1516 Netherwood Ave in Memphis, within ZIP Code 38106. Schools, shopping, dining, and major roadways are identified in the surrounding area, providing access to everyday services and transportation routes. The two-unit format supports residential income use with separate living spaces under one ownership.
The property is located at 1516 Netherwood Ave in Memphis, within ZIP Code 38106. Schools, shopping, dining, and major roadways are identified in the surrounding area, providing access to everyday services and transportation routes. The two-unit format supports residential income use with separate living spaces under one ownership.
Key Highlights
- Two‑unit duplex with 2,000 square feet
- Unit mix includes one 3‑bedroom, 1‑bath unit and one 1‑bedroom, 1‑bath unit
- Built in 1927
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 | $25.7k | $12.84 |
| − Vacancy | −$1.6k | −$0.79 |
| EGI | $24.1k | $12.05 |
| − OpEx | −$7.2k | −$3.61 |
| NOI | $16.9k | $8.43 |
2,000 SF · lease $12.84/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$241.0K
$210.8K – $281.1K
NOI $16,867 @ 7.0% cap · market cap 8.92%
Second Best
Apartment 5plus
$213.3K
$186.7K – $248.9K
NOI $14,934 @ 7.0% cap · market cap 7.90%
Theoretical Best
Office A
$591.1K
$517.2K – $689.6K
NOI $41,376 @ 7.0% cap · market cap 21.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
376
Businesses Nearby
Explore this area
Business Placement
Demographics for 38106, TN
22,394
Population
11,630
Households
1.9
Avg Household Size
41
Median Age
12%
College-Educated
83%
High-School Grad
10.4 sq mi
ZIP Area
2,153
Density / Sq Mi
$29,818
Median Household Income
$30,101
Median Earnings
$915
Median Rent
$66,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Income-producing residential asset with distinct floor plans and convenient access to schools, retail, dining, and major roadways.
Where is this duplex located?
The property is located at 1516 NETHERWOOD Ave Memphis, TN.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,000 square feet; Unit mix includes one 3‑bedroom, 1‑bath unit and one 1‑bedroom, 1‑bath unit; Built in 1927
