Turnkey Duplex Income
155-157 N MERTON St Memphis, TN 38112
New
155-157 N MERTON St, Memphis, TN, 38112
$236,000
For Sale
$236,000
MULTI_FAMILY - Memphis, TN
Property Size1,725 SF
Price / SF$136.81
Days on Market2
Property Features for 155-157 N MERTON St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- Size
- 1,725 SF
Building Details
- Year built
- 1947
Listing Agency
homecoin.com
(888) 400-2513
600 B St, Ste 300, San Diego, TN
Listed by
Jonathan Minerick · License #01523060
(888) 400-2513
Added: Jul 18 Checked: Jul 19 at 4:06 am
MLS# 10226455
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.
This fully renovated duplex was updated in 2023 and offers a turnkey setup with two separate residential units. Each unit features two bedrooms and one bathroom, for a total of 1,725 square feet. The property is described as maintaining its original character while incorporating modern finishes. Built in 1947, it is currently providing immediate rental income totaling $2,235 per month.
The duplex is located at 155-157 N Merton St in Memphis, TN 38112, in Shelby County. It presents an opportunity for an investor seeking an income-producing residential property with recent renovations.
The duplex is located at 155-157 N Merton St in Memphis, TN 38112, in Shelby County. It presents an opportunity for an investor seeking an income-producing residential property with recent renovations.
Key Highlights
- Fully renovated duplex renovated in 2023, built in 1947
- 2 units total: two 2‑bedroom, 1‑bath units
- Total living area: 1,725 SF
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 | $22.1k | $12.84 |
| − Vacancy | −$1.4k | −$0.79 |
| EGI | $20.8k | $12.05 |
| − OpEx | −$6.2k | −$3.61 |
| NOI | $14.5k | $8.43 |
1,725 SF · lease $12.84/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$207.8K
$181.9K – $242.5K
NOI $14,548 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$184.0K
$161.0K – $214.7K
NOI $12,880 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$509.8K
$446.1K – $594.8K
NOI $35,687 @ 7.0% cap · market cap 15.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Fully renovated duplex with two 2-bedroom, 1-bath units and current monthly rental income.
Where is this duplex located?
The property is located at 155-157 N MERTON St Memphis, TN.
What is the asking price?
The asking price for this property is $236,000.
What are key features of this property?
This property features: Fully renovated duplex renovated in 2023, built in 1947; 2 units total: two 2‑bedroom, 1‑bath units; Total living area: 1,725 SF
