3588 BOWEN Ave, Memphis, TN 38122
- Added:
- Jun 12, 2026
- Days on Market:
- 4
- Last Refresh:
- Jun 15 at 8:06 am
Property Features for 3588 BOWEN Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 1
- Standard status
- Active
- Size
- 1,594 SF
Taxes and HOA fees
- Tax Annual Amount
- 2116
Building Details
- Year built
- 1946
- Architectural style
- Other
Listing agent Karla Fayne (901) 335-6203
Listing office Keller Williams 775 Ridge Lake Blvd Ste 400, Memphis, TN (901) 261-7900
Listing date Jun 12, 2026
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.
HighLights
- Fully renovated duplex built in 1946
- Each side offers 2 bedrooms and 1 updated bathroom
- Flexibility to live in one unit and rent the other
- Option to lease both sides to maximize rental income
Overview
Located at 3588 Bowen Ave in Memphis, Tennessee (Shelby County), the home sits on a residential income property type and presents an owner-friendly option for managing both units. The listing emphasizes a convenient setup that allows the buyer to occupy one side while renting the other, or to lease both sides.
For tenants, the unit design centers on practical, modern living space with two-bedroom floorplans and a single updated bathroom per unit. For buyers, the duplex format can appeal to those seeking a small, manageable property with consistent unit economics across mirrored layouts, along with the ability to choose between owner-occupancy and full rental operations. The property is being offered as turnkey, with the renovation status highlighted as a key readiness factor for immediate use.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $20.5k | $12.84 |
| − Vacancy | −$1.3k | −$0.79 |
| EGI | $19.2k | $12.05 |
| − OpEx | −$5.8k | −$3.61 |
| NOI | $13.4k | $8.43 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.941212
- Latitude
- 35.153407
