1515 Madison Ave

Memphis, TN 38104

$425,000
Price
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a view of a white house with a yard and large tree
a front view of a house with a yard
a car parked in front of a house
a car parked in front of a house
a front view of a house with garage
a car parked in front of a building
a view of an empty room with wooden floor and a window
an empty room with wooden floor and window
a kitchen with granite countertop a refrigerator stove oven sink and cabinets
a large kitchen with stainless steel appliances granite countertop a stove a refrigerator a sink a oven and dishwasher with wooden floor
a kitchen with a refrigerator and a stove top oven
a kitchen with stainless steel appliances granite countertop a sink stove and cabinets
a kitchen with stainless steel appliances granite countertop a sink stove and cabinets
a bathroom with a bathtub and shower
a white toilet sitting next to a bathroom sink
a bathroom with a bathtub and a sink
a bathroom with a bathtub and shower
a view of entryway and hall with wooden floor
a view of entryway with wooden floor

Description

Located on vibrant Madison Avenue just steps from Overton Square, this renovated 5-unit multifamily property offers excellent rental income potential. The main house features 4 spacious units, plus a separate apartment above the garage. Major updates include 2017 renovations: new HVAC & a new roof in 2019. Several units have been modernized with updated flooring, countertops, and appliances. Added conveniences include an onsite laundry room. Call listing agent for info, do not disturb tenants.Located on vibrant Madison Avenue just steps from Overton Square, this renovated 5-unit multifamily property offers excellent rental income potential. The main house features 4 spacious units, plus a separate apartment above the garage. Major updates include 2017 renovations: new HVAC & a new roof in 2019. Several units have been modernized with updated flooring, countertops, and appliances. Added conveniences include an onsite laundry room. Call listing agent for info, do not disturb tenants.
  1. Listed by Worth Woodyard • Woodyard Realty Corp

Property Details for 1515 Madison Avenue

Area
746B
MAAR Subdivision Name
HORN BROTHERS
Legal Subdivision Name
HORN BROS
LISTING UPDATED: 11/17/2025 08:22 AM

Property Details for 1515 Madison Avenue

StatusActive
MLS #10206374
Days on Market96
Taxes$3,907 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Converted House
Year Built1956
Lot Size0.18 AC / 7,750 SF
CountyShelby County

Location

Listing Courtesy of Woodyard Realty Corp
Add your commute

Building Information for 1515 Madison Avenue

Stories-Residences5Year Built1956Building Size-Lot Size0.18 AC / 7,750 SF

Payment Calculator

$2,426 per month

30 year fixed, 6.28% Interest

Principal and Interest

$2,100

Property Taxes

$326

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1515 Madison Avenue

Summary
Location and General Information
  • Address: 1515 MADISON AVE
  • Address Search Number: 1515
  • Directions: West on Madison, on left before McNeil St.
  • Geo Match Code: 0
  • Geo Matched Method: 0
  • Geo Quality: .95
  • Geo Update Timestamp: 09-24-2025
  • Geo Zoom Level: 16.00
  • Map Coordinate: B
  • MLS Map Num: Central Gardens
Taxes and HOA Information
  • Hot Water: Other (See REMARKS)
  • LVT Date: 09-24-2025
Property
Lot Information
  • Lot Size: 50 X 155
  • Lot Num: 4
  • Parcel ID: 017030 00004
Property and Assessments
  • Foundation: Other (See Remarks)
  • Service Type: Full Service Listing
Interior and Exterior Features
Exterior Features
  • Roof: Composition
Interior Features
  • Appliances / Equipment: Other (See REMARKS)
  • Floors/Ceilings: Other (See Remarks)
Multi Family
Multi-Family Information
  • Num of 1 Bedroom Units: 2
  • Num of 2 Bedroom Units: 1
  • Num of 3 Bedroom Units: 0
  • Num of Efficiency Studio Units: 2
  • Num of Buildings: 2
  • Num Other Units: 0
  • Assumption: Other (Call LA)
  • Construction: Wood/Composition
  • Cooling Systems: Other (See Remarks)
  • Existing Financing: Other (See REMARKS)
  • Heating Systems: Other (See Remarks)
  • Laundry: Common Laundry
  • Operating Expenses: Other (Call LA)
  • Parking Facility: Concrete
  • Possession: At Closing
  • Sale Includes: Building and Land
  • Source Of Info: Owner
  • Tenant Pays: Other (Call LA)
  • Type Units: 1 BR - 1 Bath, 2 BR - 1 Bath, Efficiency/Studio

Property History for 1515 Madison Avenue

DateEvent & SourcePriceAppreciation
Nov 17, 2025

Price Change

MAARMLS #10206374

$425,000—
Oct 13, 2025

Price Change

MAARMLS #10206374

$450,000—
Sep 15, 2025

Price Change

MAARMLS #10206374

$480,000—
Sep 15, 2025

Price Change

MAARMLS #10206374

$450,000—
Sep 15, 2025

Listed (Active)

MAARMLS #10206374

$425,000—
Nov 9, 2023

Sold (Public Record)

Public Record #1521764110

$475,000

-9.2% / yr

Nov 9, 2023

Sold

MAARMLS #10146305

$475,000—
Oct 4, 2023

Contract Signed

MAARMLS #10146305

—
Oct 4, 2023

Contract Out

MAARMLS #10146305

—
Sep 5, 2023

Price Change

MAARMLS #10146305

$485,000—
Jun 5, 2023

Price Change

MAARMLS #10146305

$499,000—
Apr 6, 2023

Price Change

MAARMLS #10146305

$575,000—
Apr 6, 2023

Price Change

MAARMLS #10146305

$499,000—
Apr 6, 2023

Listed (Active)

MAARMLS #10146305

$485,000—
Nov 19, 2021

Sold (Public Record)

Public Record #1477470594

$574,420

+27.3% / yr

Mar 25, 2016

Sold

MAARMLS #9968720

$145,000—
Mar 9, 2016

Sold (Public Record)

Public Record #566648321

$145,000—
Feb 19, 2016

Contract Signed

MAARMLS #9968720

—
Jan 18, 2016

Listed (Active)

MAARMLS #9968720

$205,000—
Jan 16, 2016

Temporarily Off Market

MAARMLS #9964199

—
Oct 27, 2015

Listed (Active)

MAARMLS #9964199

$205,000—
Aug 1, 2015

Temporarily Off Market

MAARMLS #9945975

—
Feb 17, 2015

Listed (Active)

MAARMLS #9945975

$205,000—
DateEvent & SourcePrice
11/17/2025

Price Change

MAARMLS #10206374

$425,000
10/13/2025

Price Change

MAARMLS #10206374

$450,000
09/15/2025

Price Change

MAARMLS #10206374

$480,000
09/15/2025

Price Change

MAARMLS #10206374

$450,000
09/15/2025

Listed (Active)

MAARMLS #10206374

$425,000
11/09/2023

Sold (Public Record)

Public Record #1521764110

$475,000

-9.2% / yr

11/09/2023

Sold

MAARMLS #10146305

$475,000
10/04/2023

Contract Signed

MAARMLS #10146305

—
10/04/2023

Contract Out

MAARMLS #10146305

—
09/05/2023

Price Change

MAARMLS #10146305

$485,000
06/05/2023

Price Change

MAARMLS #10146305

$499,000
04/06/2023

Price Change

MAARMLS #10146305

$575,000
04/06/2023

Price Change

MAARMLS #10146305

$499,000
04/06/2023

Listed (Active)

MAARMLS #10146305

$485,000
11/19/2021

Sold (Public Record)

Public Record #1477470594

$574,420

+27.3% / yr

03/25/2016

Sold

MAARMLS #9968720

$145,000
03/09/2016

Sold (Public Record)

Public Record #566648321

$145,000
02/19/2016

Contract Signed

MAARMLS #9968720

—
01/18/2016

Listed (Active)

MAARMLS #9968720

$205,000
01/16/2016

Temporarily Off Market

MAARMLS #9964199

—
10/27/2015

Listed (Active)

MAARMLS #9964199

$205,000
08/01/2015

Temporarily Off Market

MAARMLS #9945975

—
02/17/2015

Listed (Active)

MAARMLS #9945975

$205,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1515 Madison Avenue

Taxable ValueLand$30,320Additions$73,560Total$103,880
Tax Record2024$6,841 ($570 / month)
Home Facts
Baths1Total Finished SqFt3,166 SqFtAbove Grade Finished SqFt3,166 SqFtStories1Lot Size7,710 SqFtStyleMulti-Family Res (5+ Units)Year Built1902ZoningCMU-3CountySHELBYAPN017-030- - -00004Fireplace TypeHas Fireplace

Schools near 1515 Madison Avenue

This home is within Shelby County Schools.
Rating
School
Type
Grades
Distance
Bruce Elementary School
Public - PK to 5
Bellevue Junior High School
Public - 6 to 8
Central High School
Public - 9 to 12
Memphis Business Academy Hickory Hill Middle School
Charter - 6 to 8
Rating
School
Distance
Bruce Elementary School
PublicPK to 5

Bellevue Junior High School
Public6 to 8

Central High School
Public9 to 12

Memphis Business Academy Hickory Hill Middle School
Charter6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 1515 Madison Avenue, Memphis, TN 38104

1515 Madison Avenue is a multi-family home for sale in Memphis, TN 38104. This property was listed for sale on September 15, 2025 by Woodyard Realty Corp, it's currently listed at $425,000. It has been on the market for a total of 96 days and was last sold on November 9, 2023. This listing's school district is Shelby County Schools. Nearby schools include Bruce Elementary School, Bellevue Junior High School and Central High School. 1515 Madison Avenue is a 0-bed, 0-bath, multi-family home built in 1956.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Woodyard Realty Corp

The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Services of MAAR and Central West Tennessee Association of Realtors. IDX information is provided exclusively 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. Listings provided by brokerages other than Compass are identified with the MAAR and Central West Tennessee Association of Realtors logo. All Information Is Deemed Reliable But Is Not Guaranteed Accurate. All information should be verified by the recipient and none is guaranteed as accurate by MAAR and Central West Tennessee Association of Realtors. Listing information Copyright© 2025 MLS of MAAR and Central West Tennessee Association of Realtors, Inc. All Rights Reserved.