Covered-Parking
For Sale
$299,000
1594 N PARKWAY Ave, Memphis, TN 38112
Duplexes, Traditional, Memphis, TN
Property Size2,118 SF
Price / SF$141.17
Days on Market112
Property Features for 1594 N PARKWAY Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1
Subdivision
LEA & OVERTON
Standard status
Active
Size
2,118 SF
Taxes and HOA fees
Tax Annual Amount
2028
Amenities
covered parking
Building Details
Year built
1940
Architectural style
Other
Listing Agency:
Sowell, Realtors
(901) 278-4380
Listed By:
Linda Sowell
(901) 277-4380
Added: Jun 16
Changed: Oct 3
Last Checked: Oct 5 at 6:06PM
MLS# 10224102
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 duplex contains 2,118 square feet with four bedrooms and two bathrooms. The property was built in 1940 and includes covered parking, providing a dedicated feature for occupants.
The residence is located near Crosstown Concourse in Memphis’s 38112 ZIP code. Its duplex configuration and existing bedroom and bathroom count establish a straightforward residential income-property format.
The residence is located near Crosstown Concourse in Memphis’s 38112 ZIP code. Its duplex configuration and existing bedroom and bathroom count establish a straightforward residential income-property format.
Key Highlights
- Duplex with 2,118 square feet of building area
- Four bedrooms and two bathrooms
- Covered parking included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,862
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$357,240
$357.2K
Cap Rate 7%
$255,171
$255.2K
Cap Rate 9%
$198,467
$198.5K
Market Conditions
NOI Build-Up for 2,118 SF
Gross rent
$27.2K $12.84/SF
− Vacancy
−$1.7K −$0.79/SF
EGI
$25.5K $12.05/SF
− OpEx
−$7.7K −$3.61/SF
NOI
$17.9K $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%
$357,240
Cap Rate 7%
$255,171
Cap Rate 9%
$198,467
Alternative Uses
Best Use
Multifamily LT 5
$255.2K
$223.3K – $297.7K
NOI $17,862 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$225.9K
$197.7K – $263.6K
NOI $15,815 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$626.0K
$547.7K – $730.3K
NOI $43,817 @ 7.0% cap · market cap 14.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
605
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with covered parking and four bedrooms across a well-maintained layout.
Where is this duplex located?
The property is located at 1594 N PARKWAY Ave Memphis, TN.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Duplex with 2,118 square feet of building area; Four bedrooms and two bathrooms; Covered parking included
