487 WILLIAMS Ave Memphis, TN 38126
MULTI_FAMILY - Memphis, TN
Property Features for 487 WILLIAMS Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Standard status
- Active
- Size
- 4,200 SF
Taxes and HOA fees
- Tax Annual Amount
- 687
Building Details
- Year built
- 1964
Listing agent Jeremy Veldman (662) 418-7511
Listing office KAIZEN Realty, LLC 7540 North Street, Germantown, TN (901) 221-4041
Listing date May 22, 2025
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.
Key Highlights
- Six‑unit apartment building with income potential
- ~$140,000 in renovations completed by the owner
- Sewer line replaced (March 2025)
Local Financial Insights For Apartment 5plus
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 | $61.0k | $14.52 |
| − Vacancy | −$4.0k | −$0.94 |
| EGI | $57.0k | $13.58 |
| − OpEx | −$25.7k | −$6.11 |
| NOI | $31.4k | $7.47 |
