Renovated
155 N MERTON St, Memphis, TN 38112
For Sale
New
$199,900
Duplexes, Traditional, Memphis, TN
Property Size1,725 SF
Price / SF$115.88
Days on Market1
Property Features for 155 N MERTON St
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Subdivision
Standard status
Size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Building Details
Year built
Architectural style
Listing Agency:
Renshaw Company, REALTORS
(901) 820-4367
Listed By:
Caleb Parr · License TN #340494
(901) 484-0478
Added: Nov 9
Last Checked: Nov 9 at 9:06PM
MLS# 10234081
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.
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 1,725-square-foot duplex in Memphis contains two units, both renovated before the current tenants moved in. The property was built in 1947, and each unit is occupied by a long-term Section 8 tenant.
The duplex is located at 155 N Merton St in Memphis, Tennessee 38112.
The duplex is located at 155 N Merton St in Memphis, Tennessee 38112.
Key Highlights
- Both units are occupied by long‑term Section 8 tenants
- 1,725‑square‑foot duplex built in 1947
- Both units were renovated before the current tenants moved in
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,548
Cap Rate
7.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$290,960
$291.0K
Cap Rate 7%
$207,829
$207.8K
Cap Rate 9%
$161,644
$161.6K
Market Conditions
NOI Build-Up for 1,725 SF
Gross rent
$22.1K $12.84/SF
− Vacancy
−$1.4K −$0.79/SF
EGI
$20.8K $12.05/SF
− OpEx
−$6.2K −$3.61/SF
NOI
$14.5K $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%
$290,960
Cap Rate 7%
$207,829
Cap Rate 9%
$161,644
Alternative Uses
Best Use
Multifamily LT 5
$207.8K
$181.9K – $242.5K
NOI $14,548 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$184.0K
$161.0K – $214.7K
NOI $12,880 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$509.8K
$446.1K – $594.8K
NOI $35,687 @ 7.0% cap · market cap 17.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,033
Businesses Nearby
Explore this area
Business Placement
Demographics for 38112, TN
16,970
Population
7,425
Households
2.3
Avg Household Size
32
Median Age
38%
College-Educated
85%
High-School Grad
4.8 sq mi
ZIP Area
3,535
Density / Sq Mi
$52,639
Median Household Income
$29,576
Median Earnings
$969
Median Rent
$206,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/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 - Both residences are occupied by long-term Section 8 tenants.
Where is this duplex located?
The property is located at 155 N MERTON St Memphis, TN.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Both units are occupied by long‑term Section 8 tenants; 1,725‑square‑foot duplex built in 1947; Both units were renovated before the current tenants moved in
