Midtown Duplex Investment
For Sale
$400,000
2301 MADISON Ave, Memphis, TN 38104
MULTI_FAMILY - Memphis, TN
Property Size3,926 SF
Price / SF$101.88
Days on Market47
Property Features for 2301 MADISON Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 3, Bedroom 6, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 5
Subdivision
LUCY F AMONETTE
Standard status
Active
Size
3,926 SF
Taxes and HOA fees
Tax Annual Amount
4245
Building Details
Year built
1925
Architectural style
Other
Listing Agency:
Sowell, Realtors
(901) 278-4380
Listed By:
Linda Sowell
(901) 277-4380
Added: Jun 15
Changed: Jul 30
Last Checked: Jul 31 at 7:06PM
MLS# 10224041
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 listing presents a large Midtown duplex income property offered for sale in a fully occupied condition. The property is being marketed with a “do not disturb tenants” instruction, and no showings are available until contract acceptance.
The building is located in Memphis, TN, at 2301 Madison Ave, within walking distance to Overton Square and Overton Park. The surrounding Midtown setting provides convenient access to established neighborhood amenities tied to those two destinations.
For buyers seeking an owner-occupied or investment scenario with existing in-place tenancy, this duplex offers a straightforward opportunity: it is already occupied and structured as two residential units under one property. Prospective buyers should plan their due diligence with the understanding that interior access is restricted until a contract is accepted. The listing does not provide further unit-level details in the materials provided, so any additional information regarding unit configurations or finishes should be requested during the contract process.
The building is located in Memphis, TN, at 2301 Madison Ave, within walking distance to Overton Square and Overton Park. The surrounding Midtown setting provides convenient access to established neighborhood amenities tied to those two destinations.
For buyers seeking an owner-occupied or investment scenario with existing in-place tenancy, this duplex offers a straightforward opportunity: it is already occupied and structured as two residential units under one property. Prospective buyers should plan their due diligence with the understanding that interior access is restricted until a contract is accepted. The listing does not provide further unit-level details in the materials provided, so any additional information regarding unit configurations or finishes should be requested during the contract process.
Key Highlights
- 1925‑built Midtown duplex
- Property is fully occupied; no showings until contract acceptance
- Includes 6 bedrooms and 3 bathrooms
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 | $50.4k | $12.84 |
| − Vacancy | −$3.1k | −$0.79 |
| EGI | $47.3k | $12.05 |
| − OpEx | −$14.2k | −$3.61 |
| NOI | $33.1k | $8.43 |
3,926 SF · lease $12.84/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$473.0K
$413.9K – $551.8K
NOI $33,110 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$418.8K
$366.4K – $488.6K
NOI $29,315 @ 7.0% cap · market cap 7.33%
Theoretical Best
Office A
$1.16M
$1.02M – $1.35M
NOI $81,221 @ 7.0% cap · market cap 20.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,169
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
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 - Large duplex in Midtown, fully occupied, offered for sale with no interior showings before contract acceptance.
Where is this duplex located?
The property is located at 2301 MADISON Ave Memphis, TN.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 1925‑built Midtown duplex; Property is fully occupied; no showings until contract acceptance; Includes 6 bedrooms and 3 bathrooms
