Occupied Duplex Near Overton
For Sale
$395,000
2301 MADISON Ave, Memphis, TN 38104
Duplexes, Traditional, Memphis, TN
Property Size3,926 SF
Price / SF$100.61
Days on Market138
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 1, Bedroom 5, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 6, Bathroom 1, Bedroom 3, Bathroom 3
Subdivision
LUCY F AMONETTE
Standard status
Active
Size
3,926 SF
Additional Details
Tenant in Place
Yes
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: Oct 28
Last Checked: Oct 30 at 10:06AM
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.
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Investment Insights
Based on property information with market context.
Built in 1925, this duplex contains 3,926 square feet with six bedrooms and three bathrooms. The property is currently fully occupied and is offered as a residential income asset in Memphis’s Midtown area.
The address is 2301 Madison Avenue, near Overton Square and Overton Park, both within walking distance. Tenant privacy protocols apply: showings are not available until contract acceptance, and occupants should not be disturbed before that point.
The address is 2301 Madison Avenue, near Overton Square and Overton Park, both within walking distance. Tenant privacy protocols apply: showings are not available until contract acceptance, and occupants should not be disturbed before that point.
Key Highlights
- 3,926‑square‑foot duplex built in 1925
- Six bedrooms and three bathrooms
- Fully occupied residential income property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,110
Cap Rate
8.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$662,200
$662.2K
Cap Rate 7%
$473,000
$473.0K
Cap Rate 9%
$367,889
$367.9K
Market Conditions
NOI Build-Up for 3,926 SF
Gross rent
$50.4K $12.84/SF
− Vacancy
−$3.1K −$0.79/SF
EGI
$47.3K $12.05/SF
− OpEx
−$14.2K −$3.61/SF
NOI
$33.1K $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%
$662,200
Cap Rate 7%
$473,000
Cap Rate 9%
$367,889
Alternative Uses
Best Use
Multifamily LT 5
$473.0K
$413.9K – $551.8K
NOI $33,110 @ 7.0% cap · market cap 8.38%
Second Best
Apartment 5plus
$418.8K
$366.4K – $488.6K
NOI $29,315 @ 7.0% cap · market cap 7.42%
Theoretical Best
Office A
$1.16M
$1.02M – $1.35M
NOI $81,221 @ 7.0% cap · market cap 20.56%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,010
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied Midtown duplex near Overton Square and Overton Park in Memphis.
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 $395,000.
What are key features of this property?
This property features: 3,926‑square‑foot duplex built in 1925; Six bedrooms and three bathrooms; Fully occupied residential income property
