Well-Kept Duplex with Covered
For Sale
$299,000
1594 N PARKWAY Ave, Memphis, TN 38112
MULTI_FAMILY - Memphis, TN
Property Size2,118 SF
Price / SF$141.17
Days on Market51
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
Bedroom 3, Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 2
Subdivision
LEA & OVERTON
Standard status
Active
Size
2,118 SF
Taxes and HOA fees
Tax Annual Amount
2028
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: Aug 2
Last Checked: Aug 5 at 5:06AM
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 well-maintained duplex offers a practical layout for owner-occupants or investors, with four bedrooms and two bathrooms. The property includes covered parking and was built in 1940.
The duplex is located at 1594 N Parkway Ave in Memphis, Tennessee 38112, near Crosstown Concourse, providing convenient access to surrounding amenities.
Owner-occupants may also qualify for special financing incentives, which are described as available to those living in the property.
The duplex is located at 1594 N Parkway Ave in Memphis, Tennessee 38112, near Crosstown Concourse, providing convenient access to surrounding amenities.
Owner-occupants may also qualify for special financing incentives, which are described as available to those living in the property.
Key Highlights
- Duplex with covered parking
- Four bedrooms and two bathrooms
- Built in 1940
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 | $27.2k | $12.84 |
| − Vacancy | −$1.7k | −$0.79 |
| EGI | $25.5k | $12.05 |
| − OpEx | −$7.7k | −$3.61 |
| NOI | $17.9k | $8.43 |
2,118 SF · lease $12.84/SF/yr · vacancy 6.17% · expense 30.00%
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
812
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex featuring four bedrooms, two bathrooms, and covered parking near Crosstown Concourse.
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 covered parking; Four bedrooms and two bathrooms; Built in 1940
