Midtown Memphis Triplex For
1577 COURT Ave, Memphis, TN 38104
- Added:
- May 11, 2026
- Days on Market:
- 19
- Last Refresh:
- May 29 at 9:06 pm
Property Features for 1577 COURT Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- Size
- 3,408 SF
Taxes and HOA fees
- Tax Annual Amount
- 2609
Building Details
- Year built
- 1910
Listing agent Caleb Parr License #340494 (901) 484-0478
Listing office Renshaw Company, REALTORS 5865 Ridgeway Ctr. Pkwy, #101, Memphis, TN (901) 820-4367
Listing date May 11, 2026
MLS# 10221256
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.
HighLights
- Income‑producing triplex: Live in one unit and rent out the other two.
- Prime Midtown location: Centrally located with easy access to Downtown Memphis, East Memphis, and the interstate.
- House hacking opportunity: Significantly reduce your housing costs by renting out part of your property.
- Strong rental market: High demand for rentals in this area ensures consistent income.
- Convenient access to shopping.
- Built in 1910.
Overview
Located at 1577 Court Ave in Memphis, TN, this triplex is an income-producing property situated in Midtown. The property offers convenient access to Downtown Memphis, East Memphis, the interstate, and nearby shopping. The property size is 3408 square feet. This property presents a house hack opportunity.
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 | $43.8k | $12.84 |
| − Vacancy | −$2.7k | −$0.79 |
| EGI | $41.1k | $12.05 |
| − OpEx | −$12.3k | −$3.61 |
| NOI | $28.7k | $8.43 |
3,408 SF · lease $12.84/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$410.6K
$359.3K – $479.0K
NOI $28,741 @ 7.0% cap · market cap 7.66%
Second Best
Apartment 5plus
$363.5K
$318.1K – $424.1K
NOI $25,447 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$1.01M
$881.3K – $1.18M
NOI $70,505 @ 7.0% cap · market cap 18.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -90.008622
- Latitude
- 35.139345
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Income-producing triplex in a prime Midtown location.
Where is this triplex located?
The property is located at 1577 COURT Ave Memphis, TN.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Income‑producing triplex: Live in one unit and rent out the other two.; Prime Midtown location: Centrally located with easy access to Downtown Memphis, East Memphis, and the interstate.; House hacking opportunity: Significantly reduce your housing costs by renting out part of your property.
