Corner-Lot
For Sale
$189,000
1092 N EVERGREEN St, Memphis, TN 38107
Duplexes, Traditional, Memphis, TN
Property Size2,280 SF
Price / SF$82.89
Days on Market48
Property Features for 1092 N EVERGREEN St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 4, Bedroom 5, Bedroom 1, Bedroom 6, Bathroom 2, Bathroom 3
Subdivision
Herman Gruber Re
Standard status
Active
Size
2,280 SF
Taxes and HOA fees
Tax Annual Amount
946
Building Details
Year built
1950
Architectural style
Other
Listing Agency:
KAIZEN Realty, LLC
(901) 221-4041
Listed By:
Mitch Freeman
(901) 628-8355
Added: Aug 21
Changed: Oct 7
Last Checked: Oct 7 at 6:06PM
MLS# 10228912
Copyright © 2026 Memphis Area Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains 2,280 square feet across two residential units and was built in 1950. The property sits on a corner lot and is being offered in its present as-is condition. Central AC and heat serve the units, and the windows have been replaced.
One unit is vacant and available for viewing, while the other is occupied under a month-to-month tenancy. The occupied unit should not be disturbed. Located in Memphis, Tennessee, the property provides a two-unit residential configuration with an existing tenant in place and immediate access to the vacant side for inspection.
One unit is vacant and available for viewing, while the other is occupied under a month-to-month tenancy. The occupied unit should not be disturbed. Located in Memphis, Tennessee, the property provides a two-unit residential configuration with an existing tenant in place and immediate access to the vacant side for inspection.
Key Highlights
- 2,280‑square‑foot duplex on a corner lot
- Built in 1950 and offered as‑is
- Central AC and heat in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,025
Cap Rate
9.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$340,500
$340.5K
Cap Rate 7%
$243,214
$243.2K
Cap Rate 9%
$189,167
$189.2K
Market Conditions
NOI Build-Up for 2,280 SF
Gross rent
$33.1K $14.52/SF
− Vacancy
−$2.2K −$0.94/SF
EGI
$31.0K $13.58/SF
− OpEx
−$13.9K −$6.11/SF
NOI
$17.0K $7.47/SF
Area
Memphis, TN
Vacancy
6.50%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$340,500
Cap Rate 7%
$243,214
Cap Rate 9%
$189,167
Alternative Uses
Best Use
Multifamily LT 5
$274.7K
$240.4K – $320.5K
NOI $19,228 @ 7.0% cap · market cap 10.17%
Second Best
Apartment 5plus
$243.2K
$212.8K – $283.8K
NOI $17,025 @ 7.0% cap · market cap 9.01%
Theoretical Best
Office A
$673.8K
$589.6K – $786.2K
NOI $47,169 @ 7.0% cap · market cap 24.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
Explore this area
Business Placement
Demographics for 38107, TN
15,655
Population
8,093
Households
1.9
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
5.4 sq mi
ZIP Area
2,899
Density / Sq Mi
$36,393
Median Household Income
$34,958
Median Earnings
$999
Median Rent
$128,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with central heating and cooling, newer windows, and one vacant unit available for viewing.
Where is this duplex located?
The property is located at 1092 N EVERGREEN St Memphis, TN.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: 2,280‑square‑foot duplex on a corner lot; Built in 1950 and offered as‑is; Central AC and heat in both units
