Occupied Duplex
For Sale
$395,000
2305 MADISON Ave, Memphis, TN 38104
Duplexes, Traditional, Memphis, TN
Property Size3,940 SF
Price / SF$100.25
Days on Market139
Property Features for 2305 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
3,940 SF
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
3859
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 31 at 4:06PM
MLS# 10224045
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.
This two-unit residential property contains 3,940 square feet and was built in 1925. The room configuration includes six bedrooms and three bathrooms, supporting its use as a duplex and residential income asset. The property is currently fully occupied, with access handled after contract acceptance.
Located at 2305 Madison Ave in Memphis, the property is within walking distance of Overton Square and Overton Park. Its Midtown setting and established residential format provide clear context for evaluating the asset as an occupied duplex.
Located at 2305 Madison Ave in Memphis, the property is within walking distance of Overton Square and Overton Park. Its Midtown setting and established residential format provide clear context for evaluating the asset as an occupied duplex.
Key Highlights
- 3,940‑square‑foot duplex built in 1925
- Six bedrooms and three bathrooms
- Currently fully occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,228
Cap Rate
8.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$664,560
$664.6K
Cap Rate 7%
$474,686
$474.7K
Cap Rate 9%
$369,200
$369.2K
Market Conditions
NOI Build-Up for 3,940 SF
Gross rent
$50.6K $12.84/SF
− Vacancy
−$3.1K −$0.79/SF
EGI
$47.5K $12.05/SF
− OpEx
−$14.2K −$3.61/SF
NOI
$33.2K $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%
$664,560
Cap Rate 7%
$474,686
Cap Rate 9%
$369,200
Alternative Uses
Best Use
Multifamily LT 5
$474.7K
$415.4K – $553.8K
NOI $33,228 @ 7.0% cap · market cap 8.41%
Second Best
Apartment 5plus
$420.3K
$367.8K – $490.3K
NOI $29,420 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,511 @ 7.0% cap · market cap 20.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The fully occupied property permits showings after contract acceptance.
Where is this duplex located?
The property is located at 2305 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: 3,940‑square‑foot duplex built in 1925; Six bedrooms and three bathrooms; Currently fully occupied
