Residential
For Sale
$374,500
1577 COURT Ave, Memphis, TN 38104
Multi-Family, Memphis, TN
Property Size3,408 SF
Price / SF$109.89
Days on Market157
Property Features for 1577 COURT Ave
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Subdivision
Courtland Pl
Standard status
Active
Size
3,408 SF
Taxes and HOA fees
Tax Annual Amount
2609
Building Details
Year built
1910
Listing Agency:
Renshaw Company, REALTORS
(901) 820-4367
Listed By:
Caleb Parr · License #340494
(901) 484-0478
Added: May 11
Changed: Aug 23
Last Checked: Oct 14 at 12:06AM
MLS# 10221256
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 residential triplex contains 3,408 square feet and was built in 1910. The three-unit configuration supports an owner-occupant arrangement, with one unit available for personal use and two additional units designated for rental use.
The property is located at 1577 Court Ave in Memphis, TN 38104. Its stated surrounding context includes proximity to Downtown Memphis, East Memphis, interstate access, and shopping. The asset is identified as an income-producing multifamily property within Shelby County.
The property is located at 1577 Court Ave in Memphis, TN 38104. Its stated surrounding context includes proximity to Downtown Memphis, East Memphis, interstate access, and shopping. The asset is identified as an income-producing multifamily property within Shelby County.
Key Highlights
- Three‑unit residential triplex
- 3,408 square feet of property size
- Built in 1910
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,741
Cap Rate
7.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$574,820
$574.8K
Cap Rate 7%
$410,586
$410.6K
Cap Rate 9%
$319,344
$319.3K
Market Conditions
NOI Build-Up for 3,408 SF
Gross rent
$43.8K $12.84/SF
− Vacancy
−$2.7K −$0.79/SF
EGI
$41.1K $12.05/SF
− OpEx
−$12.3K −$3.61/SF
NOI
$28.7K $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%
$574,820
Cap Rate 7%
$410,586
Cap Rate 9%
$319,344
Alternative Uses
Best Use
Multifamily LT 5
$410.6K
$359.3K – $479.0K
NOI $28,741 @ 7.0% cap · market cap 7.67%
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 18.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,589
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property offering an owner-occupant configuration with two additional units for rental use.
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 $374,500.
What are key features of this property?
This property features: Three‑unit residential triplex; 3,408 square feet of property size; Built in 1910
