Renovated
For Sale
$162,000
2428 VOLLINTINE Ave, Memphis, TN 38108
Duplexes, Traditional, Memphis, TN
Property Size1,224 SF
Price / SF$132.35
Days on Market224
Property Features for 2428 VOLLINTINE Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1
Subdivision
WILSHIRE PARK
Standard status
Active
Size
1,224 SF
Taxes and HOA fees
Tax Annual Amount
1814
Building Details
Year built
1940
Architectural style
Other
Listing Agency:
KAIZEN Realty, LLC
(901) 221-4041
Listed By:
Jeremy Veldman
(662) 418-7511
Added: Mar 9
Changed: Oct 17
Last Checked: Oct 18 at 3:06PM
MLS# 10216384
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 1,224-square-foot duplex in Memphis contains two residential units with a 2-bedroom, 1-bathroom layout identified for each unit. Originally built in 1940, the property underwent a full renovation in 2023. Improvements included a replacement roof, air-conditioning systems, furnaces, water heater, plumbing, electrical work, and cosmetic updates.
Both units are leased through the end of the year, and the property is professionally managed. Tenant ledgers and maintenance records are available for review. The property is located at 2428 Vollintine Ave in Memphis, Tennessee 38108.
Both units are leased through the end of the year, and the property is professionally managed. Tenant ledgers and maintenance records are available for review. The property is located at 2428 Vollintine Ave in Memphis, Tennessee 38108.
Key Highlights
- 1,224‑square‑foot duplex with two residential units
- Full renovation completed in 2023
- Updates include roof, AC, furnaces, water heater, plumbing, and electrical systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,323
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$206,460
$206.5K
Cap Rate 7%
$147,471
$147.5K
Cap Rate 9%
$114,700
$114.7K
Market Conditions
NOI Build-Up for 1,224 SF
Gross rent
$15.7K $12.84/SF
− Vacancy
−$970 −$0.79/SF
EGI
$14.7K $12.05/SF
− OpEx
−$4.4K −$3.61/SF
NOI
$10.3K $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%
$206,460
Cap Rate 7%
$147,471
Cap Rate 9%
$114,700
Alternative Uses
Best Use
Multifamily LT 5
$147.5K
$129.0K – $172.1K
NOI $10,323 @ 7.0% cap · market cap 6.37%
Second Best
Apartment 5plus
$130.6K
$114.2K – $152.3K
NOI $9,139 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$361.7K
$316.5K – $422.0K
NOI $25,322 @ 7.0% cap · market cap 15.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
Explore this area
Business Placement
Demographics for 38108, TN
17,051
Population
7,881
Households
2.2
Avg Household Size
34
Median Age
11%
College-Educated
73%
High-School Grad
7.6 sq mi
ZIP Area
2,244
Density / Sq Mi
$35,435
Median Household Income
$32,126
Median Earnings
$921
Median Rent
$62,600
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 - Two-unit residential property with updated major systems and active leases extending through year-end.
Where is this duplex located?
The property is located at 2428 VOLLINTINE Ave Memphis, TN.
What is the asking price?
The asking price for this property is $162,000.
What are key features of this property?
This property features: 1,224‑square‑foot duplex with two residential units; Full renovation completed in 2023; Updates include roof, AC, furnaces, water heater, plumbing, and electrical systems
