Two-Unit Duplex
New
For Sale
$440,000
2436 CHARJEAN Cv, Memphis, TN 38114
Duplexes, Traditional, Memphis, TN
Property Size1,620 SF
Price / SF$271.60
Days on Market2
Property Features for 2436 CHARJEAN Cv
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 2
Subdivision
CHARJEAN COVE SUBD
Standard status
Active
Size
1,620 SF
Taxes and HOA fees
Tax Annual Amount
875
Building Details
Year built
1964
Architectural style
Other
Listing Agency:
Keller Williams · Keller Williams Realty
(662) 892-4000
Listed By:
Tia Jennings
(901) 859-8183
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 3 at 8:06PM
MLS# 10229639
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.
The duplex at 2436 Charjean Cv. contains 1,620 square feet and was built in 1964. Room records identify four bedrooms and two bathrooms. The property is offered with 2412 Charjean Cv., 2428 Charjean Cv., and 2440 Charjean Cv. as part of a four-property package. The package has 75% occupancy. Tenant access is restricted, with entry available only after an accepted contract, and occupants should not be disturbed before that point.
Key Highlights
- 1,620‑square‑foot duplex at 2436 Charjean Cv.
- Four bedrooms and two bathrooms
- Built in 1964
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,662
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$273,240
$273.2K
Cap Rate 7%
$195,171
$195.2K
Cap Rate 9%
$151,800
$151.8K
Market Conditions
NOI Build-Up for 1,620 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$20.8K $12.84/SF
− Vacancy
−$1.3K −$0.79/SF
EGI
$19.5K $12.05/SF
− OpEx
−$5.9K −$3.61/SF
NOI
$13.7K $8.43/SF
Area
Memphis, TN
Vacancy
6.17%
Lease Rate
$12.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$273,240
Cap Rate 7%
$195,171
Cap Rate 9%
$151,800
Alternative Uses
Best Use
Multifamily LT 5
$195.2K
$170.8K – $227.7K
NOI $13,662 @ 7.0% cap · market cap 3.11%
Second Best
Apartment 5plus
$172.8K
$151.2K – $201.6K
NOI $12,096 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$478.8K
$418.9K – $558.6K
NOI $33,515 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
75%
Occupancy
Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
Explore this area
Business Placement
Demographics for 38114, TN
23,559
Population
12,252
Households
1.9
Avg Household Size
38
Median Age
14%
College-Educated
82%
High-School Grad
7.6 sq mi
ZIP Area
3,100
Density / Sq Mi
$32,080
Median Household Income
$28,570
Median Earnings
$897
Median Rent
$79,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Four-bedroom, two-bathroom duplex offered within a four-property package with controlled tenant access.
Where is this duplex located?
The property is located at 2436 CHARJEAN Cv Memphis, TN.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: 1,620‑square‑foot duplex at 2436 Charjean Cv.; Four bedrooms and two bathrooms; Built in 1964
