Two-Story
New
For Sale
$449,000
4543 ALDERSGATE Rd, Memphis, TN 38117
Duplexes, Traditional, Memphis, TN
Property Size3,846 SF
Price / SF$116.74
Days on Market2
Property Features for 4543 ALDERSGATE Rd
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 4, Bathroom 3, Bathroom 1, Bathroom 2, Bedroom 2
Subdivision
LAURELWOOD
Standard status
Active
Size
3,846 SF
Additional Details
Tenant in Place
Yes
Individually Metered Utilities
unspecified utilities
Taxes and HOA fees
Tax Annual Amount
3329
Amenities
fireplace
laundry room
attached garage
partially fenced backyard
Building Details
Year built
1952
Architectural style
Other
Buildings
1
Listing Agency:
McWaters & Associates
(901) 372-6611
Listed By:
David Apperson
(901) 870-2870
Added: Oct 22
Changed: Oct 23
Last Checked: Oct 23 at 11:06PM
MLS# 10233036
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 two-story duplex contains 3,846 square feet and two 2-bedroom, 2-bathroom units. The lower residence includes a living room, dining room, den with fireplace, kitchen with eating area, and laundry room. The upper unit also has living and dining rooms, a den with fireplace, and separate utilities for each residence.
An attached garage and partially fenced backyard accompany the building. The roof is described as good, HVAC units are present, and the downstairs windows have been replaced. Hardwood flooring is located beneath the carpet. The upper unit is leased through January 2027.
An attached garage and partially fenced backyard accompany the building. The roof is described as good, HVAC units are present, and the downstairs windows have been replaced. Hardwood flooring is located beneath the carpet. The upper unit is leased through January 2027.
Key Highlights
- Two‑story duplex with two 2‑bedroom, 2‑bathroom units
- 3,846 square feet
- Separate utilities for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,435
Cap Rate
7.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$648,700
$648.7K
Cap Rate 7%
$463,357
$463.4K
Cap Rate 9%
$360,389
$360.4K
Market Conditions
NOI Build-Up for 3,846 SF
Gross rent
$49.4K $12.84/SF
− Vacancy
−$3.0K −$0.79/SF
EGI
$46.3K $12.05/SF
− OpEx
−$13.9K −$3.61/SF
NOI
$32.4K $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%
$648,700
Cap Rate 7%
$463,357
Cap Rate 9%
$360,389
Alternative Uses
Best Use
Multifamily LT 5
$463.4K
$405.4K – $540.6K
NOI $32,435 @ 7.0% cap · market cap 7.22%
Second Best
Apartment 5plus
$410.3K
$359.0K – $478.6K
NOI $28,718 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$1.14M
$994.6K – $1.33M
NOI $79,566 @ 7.0% cap · market cap 17.72%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,205
Businesses Nearby
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Business Placement
Demographics for 38117, TN
27,138
Population
12,045
Households
2.3
Avg Household Size
40
Median Age
60%
College-Educated
95%
High-School Grad
9.4 sq mi
ZIP Area
2,887
Density / Sq Mi
$93,688
Median Household Income
$52,596
Median Earnings
$1,353
Median Rent
$287,500
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 - Separate utilities and an attached garage support the property's two residential units.
Where is this duplex located?
The property is located at 4543 ALDERSGATE Rd Memphis, TN.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Two‑story duplex with two 2‑bedroom, 2‑bathroom units; 3,846 square feet; Separate utilities for each unit
