1531 Court Ave, Memphis, TN 38104
Triplex in 38104, currently operating as short-term rental.
- Added:
- Mar 7, 2026
- Days on Market:
- 122
- Last Refresh:
- Jul 4 at 10:32 am
Property Features for 1531 Court Ave
General Information
- Standard status
- Active
- Size
- 2,580 SF
- Property subtype
- Multifamily
Listing office eXp Realty, LLC
Listing date Mar 7, 2026
Source Crexi
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 eXp Realty, LLC
HighLights
- Turnkey, cashflow‑heavy multi‑family property
- Strong income potential as a short‑term rental property
- Currently configured as a triplex, offering multiple income streams
- Zoned as a duplex, presenting a unique opportunity for investors
- Unit 1: 2 beds/2 baths; Unit 2: 2 beds/1 bath; Unit 3: 1 bed/1 bath
- Located in the heart of Memphis (38104)
Overview
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 | $33.1k | $12.84 |
| − Vacancy | −$2.0k | −$0.79 |
| EGI | $31.1k | $12.05 |
| − OpEx | −$9.3k | −$3.61 |
| NOI | $21.8k | $8.43 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -90.0101015
- Latitude
- 35.1394913
