Renovated
2428 VOLLINTINE Ave, Memphis, TN 38108
For Sale
New
$148,000
Duplexes, Traditional, Memphis, TN
Property Size1,224 SF
Price / SF$120.92
Days on Market5
Property Features for 2428 VOLLINTINE Ave
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Subdivision
Standard status
Size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Building Details
Year built
Architectural style
Listing Agency:
KAIZEN Realty, LLC
(901) 221-4041
Listed By:
Jeremy Veldman
(662) 418-7511
Added: Nov 3
Changed: Nov 7
Last Checked: Nov 7 at 4:06PM
MLS# 10233703
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 was renovated in 2023. Improvements included a new roof, air-conditioning equipment, furnace, water heater, plumbing, electrical work and cosmetic updates. The building dates to 1940 and has two bedrooms and two bathrooms.
Both sides are tenant-occupied, and their leases run through the end of 2027. The property is professionally managed.
Both sides are tenant-occupied, and their leases run through the end of 2027. The property is professionally managed.
Key Highlights
- 1,224‑square‑foot duplex with two bedrooms and two bathrooms
- Renovated in 2023 with updates to the roof, HVAC, water heater, plumbing, electrical systems and interior finishes
- Both sides are leased through the end of 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,323
Cap Rate
6.98%
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 6.98%
Second Best
Apartment 5plus
$130.6K
$114.2K – $152.3K
NOI $9,139 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$361.7K
$316.5K – $422.0K
NOI $25,322 @ 7.0% cap · market cap 17.11%
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
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
$62,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Memphis, TN
Properties on Market for Duplexes in Memphis
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied, with current leases extending through the end of 2027.
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 $148,000.
What are key features of this property?
This property features: 1,224‑square‑foot duplex with two bedrooms and two bathrooms; Renovated in 2023 with updates to the roof, HVAC, water heater, plumbing, electrical systems and interior finishes; Both sides are leased through the end of 2027
