diff --git a/pipenv/project.py b/pipenv/project.py
index f167963a..de0ad8b7 100644
--- a/pipenv/project.py
+++ b/pipenv/project.py
@@ -88,10 +88,14 @@ class Project(object):
 
     @property
     def pipfile_location(self):
-        try:
-            return pipfile.Pipfile.find(max_depth=PIPENV_MAX_DEPTH)
-        except RuntimeError:
-            return None
+        if self._pipfile_location is None:
+            try:
+                loc = pipfile.Pipfile.find(max_depth=PIPENV_MAX_DEPTH)
+            except RuntimeError:
+                loc = None
+            self._pipfile_location = loc
+
+        return self._pipfile_location
 
     @property
     def parsed_pipfile(self):
diff --git a/tests/test_project.py b/tests/test_project.py
index b45d9809..2997e1d5 100644
--- a/tests/test_project.py
+++ b/tests/test_project.py
@@ -1,18 +1,47 @@
+import delegator
+
 import pipenv.project
 
 class TestProject():
 
     def test_project(self):
-       proj = pipenv.project.Project()
-       assert proj.name == 'pipenv'
-       assert proj.pipfile_exists
-       assert proj.virtualenv_exists
+        proj = pipenv.project.Project()
+        assert proj.name == 'pipenv'
+        assert proj.pipfile_exists
+        assert proj.virtualenv_exists
 
     def test_pew_by_default(self):
-       proj = pipenv.project.Project()
-       assert proj.virtualenv_location.endswith('.local/share/virtualenvs/pipenv')
+        proj = pipenv.project.Project()
+        assert proj.virtualenv_location.endswith('.local/share/virtualenvs/pipenv')
 
     def test_proper_names(self):
         proj = pipenv.project.Project()
         assert proj.virtualenv_location in proj.proper_names_location
         assert isinstance(proj.proper_names, list)
+
+    def test_download_location(self):
+        proj = pipenv.project.Project()
+        assert proj.virtualenv_location in proj.download_location
+        assert proj.download_location.endswith('downloads')
+
+    def test_parsed_pipfile(self):
+        proj = pipenv.project.Project()
+
+        # Create test space.
+        delegator.run('mkdir test_pipfile')
+        with open('test_pipfile/Pipfile', 'w') as f:
+            f.write('[[source]]\nurl = \'https://pypi.python.org/simple\'\n'
+                    'verify_ssl = true\n\n\n[packages]\n'
+                    'requests = { extras = [\'socks\'] }')
+
+        proj._pipfile_location = 'test_pipfile/Pipfile'
+        pfile = proj.parsed_pipfile
+
+        # Cleanup test space.
+        delegator.run('rm -fr test_pipfile')
+
+        assert 'source' in pfile
+        assert pfile['source'][0]['url'] == 'https://pypi.python.org/simple'
+
+        assert 'packages' in pfile
+        assert pfile['packages']['requests'] == {'extras': ['socks']}