Updated
New
For Sale
$215,000
259 Maryland Ave, Memphis, TN 38126
Four residential units include refreshed kitchens, bathrooms, flooring, and tile, with two units currently occupied.
Property Size1,560 SF
Price / SF$137.82
Days on Market2
Property Features for 259 Maryland Ave
General Information
Standard status
Active
Size
1,560 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
The Stone Cdc
Additional Details
Gross Income
$15,300
Multifamily Units
4
Tenant in Place
Yes
Building Details
Year Built
1958
Buildings
1
Listing Agency:
Small Town Hunting Properties
Listed By:
Stacia Rosatti
(901) 270-9019
Source:
Staciarosatti
Added: Oct 23
Last Checked: Oct 23 at 4:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Small Town Hunting Properties
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This four-unit residential property contains 1,560 square feet and was built in 1958. Improvements include a newer roof, updated flooring and tile, and refreshed kitchens and bathrooms. Two units are occupied, while two are vacant.
Located at 259 Maryland Ave in Memphis, the property has both occupied and unoccupied units within the same fourplex.
Located at 259 Maryland Ave in Memphis, the property has both occupied and unoccupied units within the same fourplex.
Key Highlights
- Four residential units across 1,560 square feet
- Two units occupied and two vacant
- Newer roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,156
Cap Rate
6.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$263,120
$263.1K
Cap Rate 7%
$187,943
$187.9K
Cap Rate 9%
$146,178
$146.2K
Market Conditions
NOI Build-Up for 1,560 SF
Gross rent
$20.0K $12.84/SF
− Vacancy
−$1.2K −$0.79/SF
EGI
$18.8K $12.05/SF
− OpEx
−$5.6K −$3.61/SF
NOI
$13.2K $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%
$263,120
Cap Rate 7%
$187,943
Cap Rate 9%
$146,178
Alternative Uses
Best Use
Multifamily LT 5
$187.9K
$164.5K – $219.3K
NOI $13,156 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$166.4K
$145.6K – $194.1K
NOI $11,648 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$461.0K
$403.4K – $537.9K
NOI $32,273 @ 7.0% cap · market cap 15.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
Explore this area
Business Placement
Demographics for 38126, TN
5,717
Population
3,260
Households
1.8
Avg Household Size
32
Median Age
14%
College-Educated
82%
High-School Grad
1.9 sq mi
ZIP Area
3,009
Density / Sq Mi
$30,825
Median Household Income
$32,396
Median Earnings
$794
Median Rent
$59,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units include refreshed kitchens, bathrooms, flooring, and tile, with two units currently occupied.
Where is this quadplex located?
The property is located at 259 Maryland Ave Memphis, TN.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Four residential units across 1,560 square feet; Two units occupied and two vacant; Newer roof
