1515 Madison Ave, Memphis, TN, 38104
About This Home
Location! Location! Location! Mins from Midtown and Downtown. DON'T DISTURB TENANTS! This 5 unit complex is a great rental with gated parking. The main building includes 4 units and over the garage is another unit. The complex includes an on site laundry facility. There were updates to the complex in 2017 and 2019 which included a new roof, HVAC, and some units have updated flooring and appliances. ONLINE VIDEO AVAILABLE UPON REQUEST. Home is professionally managed! This home qualifies for FHA/VA/ and Conventional financing (you can live in one unit and rent out the others aka house hack). Rents & Leases are: Unit #1- $950 lease ends 7/31/26, Unit #2- $1,025 lease ends 7/31/26, Unit #3- $750 lease ends 3/28/27, and Units #4 & 5 are currently vacant. No wholesalers, assignments, or creative financing.
Getting Around
Very Walkable
Some Transit
Very BikeableSchools
Construction
Condition
- Year built: 1956
Materials
- Roof: Composition Shingles
- Construction materials: Vinyl Siding
Type & Style
- Home type: SingleFamily
- Architectural style: Traditional
- Property subType: Single Family Residence
Interior
Bedrooms & Bathrooms
- Bedrooms: 6
- Bathrooms: 5
- Full bathrooms: 5
Features
- 1 or More BR Down,Square Feet Source: AutoFill (MAARdata) or Public Records (Cnty Assessor Site)
- Flooring: Tile
Heating & Cooling
- Heating features: Central
- Cooling features: Central Air
Interior Area
- Total interior livable area: 3,166 sqft
Kitchen
- Features: Pantry
Property
Details
- Parcel number: 017030 00004
- Attached to another structure: Yes
Features
- Stories: 2
- Pool features: None
- Patio & porch: Porch,Patio
Lot
- Lot size: 7,405 sqft
- Features: Level
- Lot size dimensions: 50 x 155
Parking
- Parking features: Driveway/Pad
- Has uncovered spaces: Yes
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Cold Wave
- Earthquake
- Heat Wave
- Tornado
How This Home’s Risks Compare
FEMA Declared Disasters Across Tennessee Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $1,921 | $23,052 |
| Home Insurance | $283 | $3,396 |
| Property Taxes | $307 | $3,684 |
| Electricity | $257 | $3,086 |
| Total | $2,768 | $33,216 |
Income You'd Need if You Spent...
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-03-31 | Listed for sale | $435,000 |
| 2026-02-06 | Listing removed | $425,000 |
| 2025-11-17 | Price change | $425,000 |
| 2025-10-13 | Price change | $450,000 |
| 2025-09-24 | Listed for sale | $480,000 |
| 2023-11-09 | Sold | $475,000 |
| 2023-10-05 | Contingent | $485,000 |
| 2023-09-05 | Price change | $485,000 |
| 2023-06-05 | Price change | $499,000 |
| 2023-04-20 | Listed for sale | $575,000 |
| 2016-03-25 | Sold | $145,000 |
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