Renovated Duplex Investment
For Sale
$158,270
3045 ALLISON Ave, Memphis, TN 38112
Duplexes, Traditional, Memphis, TN
Property Size1,779 SF
Price / SF$88.97
Days on Market267
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Property Features for 3045 ALLISON Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 2
Subdivision
EASTERN HEIGHTS BLK H
Standard status
Active
Size
1,779 SF
Taxes and HOA fees
Tax Annual Amount
803
Building Details
Year built
1973
Architectural style
Other
Listing Agency:
Keller Williams · Keller Williams Realty
(901) 221-5100
Listed By:
Caleb Hall
(901) 550-9021
Added: Jan 21
Changed: Oct 14
Last Checked: Oct 15 at 2:06PM
MLS# 10213388
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.
Investment Insights
Based on property information with market context.
This renovated duplex contains 1,779 square feet and was built in 1973. The property includes two bedrooms and two bathrooms, with an active month-to-month lease arrangement currently in place.
Located at 3045 Allison Ave in Memphis, Tennessee, the property is included within a larger package of 103 homes. The existing lease structure provides current occupancy through separate monthly rents of $650 and $675.
Located at 3045 Allison Ave in Memphis, Tennessee, the property is included within a larger package of 103 homes. The existing lease structure provides current occupancy through separate monthly rents of $650 and $675.
Key Highlights
- Renovated duplex containing 1,779 square feet
- Built in 1973
- Two bedrooms and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,284
Cap Rate
8.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$265,680
$265.7K
Cap Rate 7%
$189,771
$189.8K
Cap Rate 9%
$147,600
$147.6K
Market Conditions
NOI Build-Up for 1,779 SF
Gross rent
$25.8K $14.52/SF
− Vacancy
−$1.7K −$0.94/SF
EGI
$24.2K $13.58/SF
− OpEx
−$10.9K −$6.11/SF
NOI
$13.3K $7.47/SF
Area
Memphis, TN
Vacancy
6.50%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$265,680
Cap Rate 7%
$189,771
Cap Rate 9%
$147,600
Alternative Uses
Best Use
Multifamily LT 5
$214.3K
$187.5K – $250.1K
NOI $15,003 @ 7.0% cap · market cap 9.48%
Second Best
Apartment 5plus
$189.8K
$166.1K – $221.4K
NOI $13,284 @ 7.0% cap · market cap 8.39%
Theoretical Best
Office A
$525.8K
$460.1K – $613.4K
NOI $36,804 @ 7.0% cap · market cap 23.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
663
Businesses Nearby
Explore this area
Business Placement
Demographics for 38112, TN
16,970
Population
7,425
Households
2.3
Avg Household Size
32
Median Age
38%
College-Educated
85%
High-School Grad
4.8 sq mi
ZIP Area
3,535
Density / Sq Mi
$52,639
Median Household Income
$29,576
Median Earnings
$969
Median Rent
$206,900
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 - Renovated two-unit property with active month-to-month leases and two bathrooms.
Where is this duplex located?
The property is located at 3045 ALLISON Ave Memphis, TN.
What is the asking price?
The asking price for this property is $158,270.
What are key features of this property?
This property features: Renovated duplex containing 1,779 square feet; Built in 1973; Two bedrooms and two bathrooms
