1621 OAKWOOD St, Memphis, TN 38108
- Added:
- Jun 29, 2026
- Days on Market:
- 10
- Last Refresh:
- Jul 8 at 9:06 pm
Property Features for 1621 OAKWOOD St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 3
- Standard status
- Active
- Size
- 1,151 SF
Taxes and HOA fees
- Tax Annual Amount
- 529
Building Details
- Year built
- 1950
- Architectural style
- Other
Listing agent Melissa Thompson (901) 729-9526
Listing office eXp Realty 5865 Ridgeway Center Pkwy, 218, Memphis, TN (901) 310-4363
Listing date Jun 29, 2026
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
- Fully renovated duplex at 1621 & 1623 Oakwood Street in Memphis (built 1950)
- Each unit includes a spacious great room, kitchen, 2 bedrooms, and 1 full bath
- Both units updated with fresh interior/exterior paint, luxury vinyl plank flooring, new kitchen cabinets and countertops
- Renovations include new sinks, lighting, and new water heaters in both units
- Bathrooms updated with new vanities, toilets, fixtures, and updated finishes plus new closet shelving
- Major improvements: new roof and windows (2024/2025), storm doors, and a new front porch
Overview
The property is located at 1621 and 1623 Oakwood Street in Memphis, Tennessee, within Shelby County. Recent exterior improvements include a new roof and windows completed in 2024/2025, along with storm doors and a new front porch.
For buyers seeking a ready-to-rent residential income asset, this duplex is positioned as a practical, low-maintenance option based on the completed interior updates and the exterior work already in place. Each unit’s two-bedroom, one-bath configuration provides straightforward tenancy structure for prospective residents, while the recent mechanical and exterior improvements support long-term upkeep planning.
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 | $14.8k | $12.84 |
| − Vacancy | −$912 | −$0.79 |
| EGI | $13.9k | $12.05 |
| − OpEx | −$4.2k | −$3.61 |
| NOI | $9.7k | $8.43 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.976746
- Latitude
- 35.180414
