$6,519 Closing Credit¹
#10184439, Listing Office: Sowell, Realtors
$660,000 List price
132 N Evergreen Ave Memphis, TN 38104
$7,838
Closing credit¹
Multi-Family
Property details
About 132 N Evergreen Ave
This 8-unit multifamily property offers a mix of stabilized income and exceptional value-add potential, positioned perfectly for Memphis investors seeking reliable cash flow and upside. Located in the heart of Midtown, it benefits from high rental demand and proximity to the city’s most desirable amenities. ONLINE VIDEO AVAILABLE UPON REQUEST. Five fully renovated, furnished units previously operating as successful Airbnb rentals. Three long-term rental units in original condition, offering significant upside through renovation and modernization. As-Is Gross Annual Income: $78,600. 5 fully renovated and furnished units average $1,000/month each. 3 long-term rental (LTR) units average $650/month each. Renovation of the 3 LTR units to furnished long-term standards, with projected rents of $1,000/month each. Operating Expenses (Estimate): ~$23,000/year. Net Operating Income (As-is): ~$55,600. Projected NOI (Post-Renovation): ~$73,600.
Highlights
Home typeMulti Family
HeatingOther
StatusActive
CoolingOther
Year built1912
ParkingConcrete
MLS #10188493
Summary
- MLS Number: 10188493
- Office Name: Crye-Leike, Inc., REALTORS
Copyright© 2025 Memphis Area Association of REALTORS. The information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties that the consumer may be interested in purchasing. Information deemed reliable, but is not guaranteed accurate. Some or all of the listings displayed may not belong to the firm whose web site is being visited.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/6/2025, 9:20:50 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$660,000
132 N Evergreen Ave
$7,838
closing credit¹
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Price information
Property sales
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Tax history
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Nearby schools
8
Idlewild Elementary School
Public Magnet PK-5
0.6 mi
•1950 Linden Ave
4
Bruce Elementary School
Public District PK-5
1.3 mi
•581 S Bellevue Blvd
5
Peabody Elementary School
Public Magnet PK-5
1.6 mi
•2086 Young Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $13,043. The most common annual income of people living in Memphis, TN is less than $<35k. The most common type of family is single, no kids. Residents of this area typically have post secondary degree education.
How much money do the neighbors make?
71%
<35k
26%
35k-100k
3%
100k-200k
0%
200k+
What level of education do the neighbors have?
No High School
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
88%
Single, No Kids
3%
Single, with Kids
6%
Married, No Kids
3%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
4%
<11 yrs old
1%
12-17 yrs old
27%
18-34 yrs old
29%
35-64 yrs old
39%
65+ yrs old
What do the neighbors do for fun?
Figure Skating
Soccer
Pro Boxing
Where do the neighbors shop?
Family Dollar
Forever 21
Burlington
Where do the neighbors go to eat?
Church's Chicken
Dominos Pizza
Popeyes
What do the neighbors drive?
Cadillac
Mazda
Dodge
What do the neighbors listen to?
Jazz
Rhythmic Contemporary Hits
Urban Contemporary
All data provided by Home Junction and Claritas
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This home is located at 132 N Evergreen Ave in Memphis, TN and zip code 38104 in the Midtown neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since January 21, 2025 and is currently priced at $660,000.
In February 2025, from all listings sold in Memphis, TN there were more than 57 sold above asking price, over 205 sold below and more than 73 were sold right at the asked price. The inventory of homes for sale in Memphis, TN between January and February 2025 increased by 13.5%. In February 2025 median list price was $185,000 and the average listing age was 67 days.
From Rocket Homes Real Estate and based on county public records data.