Renovated Two-Unit
1517 Court, Memphis, TN 38104
For Sale
$274,500
Two three-bedroom residences are leased through spring 2027, with appliances included in the sale.
Property Size2,588 SF
Price / SF$106.07
Days on Market83
Property Features for 1517 Court
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Gross Income
Tenant in Place
Amenities
fenced yard
driveway parking
Building Details
Building Size
Year Built
Stories
Tenancy
Listing Agency:
Real Estate Agency
(901) 625-5200
Listed By:
Erica Martin
(901) 359-8976
Source:
Assuredrealestate
Added: Aug 17
Changed: Nov 6
Last Checked: Nov 7 at 3:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Estate Agency
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex contains two 3-bedroom, 1-bath units totaling approximately 2,588 square feet, built in 1910. Each residence has combined living and dining space with a separate kitchen. The lower unit has a renovated kitchen and bath, new appliances, flooring, and paint; the upper unit includes an updated bath, a new dishwasher, energy-efficient windows, and fresh paint. Owner-owned appliances, including the washer and dryer, convey with the property.
Both units are leased, with tenants in place through spring 2027. The property also includes a fenced yard, driveway parking, and annual termite treatment.
Both units are leased, with tenants in place through spring 2027. The property also includes a fenced yard, driveway parking, and annual termite treatment.
Key Highlights
- Two 3‑bedroom, 1‑bath units; approximately 2,588 square feet total
- Built in 1910
- Tenants in place through spring 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,826
Cap Rate
7.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$436,520
$436.5K
Cap Rate 7%
$311,800
$311.8K
Cap Rate 9%
$242,511
$242.5K
Market Conditions
NOI Build-Up for 2,588 SF
Gross rent
$33.2K $12.84/SF
− Vacancy
−$2.1K −$0.79/SF
EGI
$31.2K $12.05/SF
− OpEx
−$9.4K −$3.61/SF
NOI
$21.8K $8.43/SF
Area
Memphis, TN
Vacancy
6.17%
Lease Rate
$12.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$436,520
Cap Rate 7%
$311,800
Cap Rate 9%
$242,511
Alternative Uses
Best Use
Multifamily LT 5
$311.8K
$272.8K – $363.8K
NOI $21,826 @ 7.0% cap · market cap 7.95%
Second Best
Apartment 5plus
$276.1K
$241.6K – $322.1K
NOI $19,324 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$764.9K
$669.3K – $892.4K
NOI $53,541 @ 7.0% cap · market cap 19.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
815
Businesses Nearby
Explore this area
Business Placement
Demographics for 38104, TN
22,584
Population
14,315
Households
1.6
Avg Household Size
38
Median Age
52%
College-Educated
93%
High-School Grad
5.0 sq mi
ZIP Area
4,517
Density / Sq Mi
$56,452
Median Household Income
$48,300
Median Earnings
$1,073
Median Rent
$301,100
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Memphis, TN
Properties on Market for Duplexes in Memphis
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences are leased through spring 2027, with appliances included in the sale.
Where is this duplex located?
The property is located at 1517 Court Memphis, TN.
What is the asking price?
The asking price for this property is $274,500.
What are key features of this property?
This property features: Two 3‑bedroom, 1‑bath units; approximately 2,588 square feet total; Built in 1910; Tenants in place through spring 2027
