Briscoe Ellett III

1515 Madison Ave

Memphis, TN
$ 380,000 Beds 6 Baths 5 Sq 3,166
Monthly Estimate* How much can I afford?

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, Unit #4-$700 lease ends 7/31/2027,& Unit #5 is currently vacant. No wholesalers, assignments, or creative financing.

Single Family

  • Price
  • $ 380,000
  • City
  • Memphis
  • Bedrooms
  • 6
  • Full Bathrooms
  • 5
  • County
  • SHELBY
  • Half Bathrooms
  • 0
  • Area
  • Central Gardens
  • Lot Size
  • 0.17 Acres
  • Zip
  • 38104
  • Sqr Footage
  • 3,166
  • Year Built
  • 1956
  • Taxes
  • $ 5475
  • Style
  • Traditional
  • MLS#
  • 10218072
Listed By: Crye-Leike, Inc., REALTORS
Data Source: Memphis MLS (MAAR)

Features

General

Heating Central
Cooling Central
Roof Composition Shingles
Status Active
Full Baths 5
Legal Subdivision Name HORN BROS
Style Traditional
Stories Count 2
County Shelby
Class Residential
Type Attached Single Family
Condo No
Area 746B
Parcel Number 017030 00004
Status Active
Annual City Tax 2681
Annual County Tax 2794
Sale/Rent For Sale
Area Central Gardens
Service Type Full Service Listing
Neighborhood Association None
Year Built 1956
Directions Take Exit 30 off I-65 N towards Union Ave,Follow Union Ave E,turn N onto S Cleveland St,turn E onto Madison Ave,The property will be on your R.
City Memphis
DOM 178

Interior Features

Living Room Pantry
Beds 6
Total Baths 5
Number of Rooms 11
FLOORS/CEILINGS Tile

Exterior Features

Pool None
Lot 4
Lot Size Area 0.17
Water & Sewer Public Sewer,Public Water
Lot Size 50 X 155
Parking Display No
Lot Description Level
PARKING/STORAGE Driveway/Pad
EXTERIOR/WINDOWS Vinyl Siding
Misc. Exterior Porch,Patio

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Affordability Calculator

$3,786

Per Month

Based on the average sale price from the Memphis, TN office

  • Monthly Principal & interest $2,658
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
Adjust Payment Options
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Let's determine your purchasing power. Working with my mortgage partner, you'll have the information you need to shop for a home with confidence.

Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA, or jumbo loans.

Mortgage calculator provided courtesy of Inside Real Estate.

Schools

Elementary School Unknown Elementary School
Middle School Unknown Middle School
High School Unknown High School

Price History

3/31/2026 Listed $435,000
6/9/2026 3% - $425,000
6/12/2026 11% - $380,000

Property vs Zip Code Average in 38104

Price
AVG $390K
$380K
Taxes
AVG $4,946
$5,475
Year Built
AVG 1929
1956
Visits
AVG 94
149
Data Provided by Inside Real Estate®

Areas That We Cover

1515 Madison Ave Memphis, TN is a Single Family Home for sale at $380000 with 3166 sqft and a lot size of 0.17 Acres Acre(s). 1515 Madison Ave Memphis has 6 bedrooms, 5 baths and was built in 1956. The property's zip code is 38104 which is in Memphis, TN

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Mortgage calculator provided courtesy of Inside Real Estate.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Briscoe Ellett III

Briscoe Ellett III

901-282-9020

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