Renovated Duplex with Tenant
For Sale
$144,900
508 E DISON Ave, Memphis, TN 38106
Duplexes, Traditional, Memphis, TN
Property Size1,694 SF
Price / SF$85.54
Days on Market195
Property Features for 508 E DISON Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 1
Subdivision
JOHNSONS LONGVIEW HEIGHTS BLK C
Standard status
Active
Size
1,694 SF
Taxes and HOA fees
Tax Annual Amount
755
Building Details
Year built
1947
Architectural style
Other
Listing Agency:
KAIZEN Realty, LLC
(901) 221-4041
Listed By:
Jeremy Veldman
(662) 418-7511
Added: Apr 7
Changed: Oct 17
Last Checked: Oct 18 at 6:06PM
MLS# 10218600
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 duplex contains 1,694 square feet with four bedrooms and two bathrooms. Constructed in 1947, the property received updates in 2018 that included a new roof, HVAC system, water heater, and cosmetic improvements. The two-unit layout is supported by existing occupancy and professionally managed operations.
Located at 508 E DISON Ave in Memphis, Tennessee, the property has tenants in place under leases extending through November 30, 2026, and December 31, 2026. The residents have remained current, and tenant ledgers and a maintenance report are available for review. The asset combines established occupancy with documented capital improvements and ongoing property management.
Located at 508 E DISON Ave in Memphis, Tennessee, the property has tenants in place under leases extending through November 30, 2026, and December 31, 2026. The residents have remained current, and tenant ledgers and a maintenance report are available for review. The asset combines established occupancy with documented capital improvements and ongoing property management.
Key Highlights
- Duplex with 1,694 square feet, four bedrooms, and two bathrooms
- 2018 improvements included a new roof, HVAC, water heater, and cosmetic updates
- Existing leases extend through 11/30/2026 and 12/31/2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,649
Cap Rate
8.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$252,980
$253.0K
Cap Rate 7%
$180,700
$180.7K
Cap Rate 9%
$140,544
$140.5K
Market Conditions
NOI Build-Up for 1,694 SF
Gross rent
$24.6K $14.52/SF
− Vacancy
−$1.6K −$0.94/SF
EGI
$23.0K $13.58/SF
− OpEx
−$10.3K −$6.11/SF
NOI
$12.6K $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%
$252,980
Cap Rate 7%
$180,700
Cap Rate 9%
$140,544
Alternative Uses
Best Use
Multifamily LT 5
$204.1K
$178.6K – $238.1K
NOI $14,286 @ 7.0% cap · market cap 9.86%
Second Best
Apartment 5plus
$180.7K
$158.1K – $210.8K
NOI $12,649 @ 7.0% cap · market cap 8.73%
Theoretical Best
Office A
$500.6K
$438.1K – $584.1K
NOI $35,045 @ 7.0% cap · market cap 24.19%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
Explore this area
Business Placement
Demographics for 38106, TN
22,394
Population
11,630
Households
1.9
Avg Household Size
41
Median Age
12%
College-Educated
83%
High-School Grad
10.4 sq mi
ZIP Area
2,153
Density / Sq Mi
$29,818
Median Household Income
$30,101
Median Earnings
$915
Median Rent
$66,400
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 - Two-unit residential property with 2018 updates and occupants in place.
Where is this duplex located?
The property is located at 508 E DISON Ave Memphis, TN.
What is the asking price?
The asking price for this property is $144,900.
What are key features of this property?
This property features: Duplex with 1,694 square feet, four bedrooms, and two bathrooms; 2018 improvements included a new roof, HVAC, water heater, and cosmetic updates; Existing leases extend through 11/30/2026 and 12/31/2026
