Tenant-Occupied
For Sale
$125,000
2452 SARATOGA Ave, Memphis, TN 38114
Duplexes, Traditional, Memphis, TN
Property Size1,107 SF
Price / SF$112.92
Days on Market152
Property Features for 2452 SARATOGA Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2
Subdivision
ORANGE MOUND
Standard status
Active
Size
1,107 SF
Taxes and HOA fees
Tax Annual Amount
1176
Building Details
Year built
1954
Architectural style
Other
Listing Agency:
BEST Real Estate Company
(901) 407-2177
Listed By:
Walter Jones
(501) 891-3141
Added: Apr 2
Changed: Aug 31
Last Checked: Aug 31 at 10:06AM
MLS# 10218373
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 Memphis duplex contains 1,107 square feet and was constructed in 1954. The property is configured as two residential units, with both units currently leased. Room information includes two bedrooms and two bathrooms.
Access is limited to drive-by review unless a contract has been accepted. Any interior showing must be arranged after contract acceptance, and the occupants should not be disturbed. The property is located in Memphis, Tennessee, within ZIP code 38114.
Access is limited to drive-by review unless a contract has been accepted. Any interior showing must be arranged after contract acceptance, and the occupants should not be disturbed. The property is located in Memphis, Tennessee, within ZIP code 38114.
Key Highlights
- Two‑unit duplex with both units leased
- 1,107 square feet of building area
- Constructed in 1954
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
$9,336
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
7.47%
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%
$186,720
$186.7K
Cap Rate 7%
$133,371
$133.4K
Cap Rate 9%
$103,733
$103.7K
Market Conditions
NOI Build-Up for 1,107 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
$14.2K $12.84/SF
− Vacancy
−$877 −$0.79/SF
EGI
$13.3K $12.05/SF
− OpEx
−$4.0K −$3.61/SF
NOI
$9.3K $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%
$186,720
Cap Rate 7%
$133,371
Cap Rate 9%
$103,733
Alternative Uses
Best Use
Multifamily LT 5
$133.4K
$116.7K – $155.6K
NOI $9,336 @ 7.0% cap · market cap 7.47%
Second Best
Apartment 5plus
$118.1K
$103.3K – $137.8K
NOI $8,266 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$327.2K
$286.3K – $381.7K
NOI $22,902 @ 7.0% cap · market cap 18.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
532
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 - Two-unit residential income property with current occupants and contract-based showing access.
Where is this duplex located?
The property is located at 2452 SARATOGA Ave Memphis, TN.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: Two‑unit duplex with both units leased; 1,107 square feet of building area; Constructed in 1954
