Triplex with Mixed Unit
For Sale
$280,000
3569 DOUGLASS Ave, Memphis, TN 38111
Multi-Family, Memphis, TN
Property Size1,514 SF
Price / SF$184.94
Days on Market95
Property Features for 3569 DOUGLASS Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Subdivision
GOODMAN BROTHERS COLONIAL HEIGHTS
Standard status
Active
Size
1,514 SF
Taxes and HOA fees
Tax Annual Amount
1350
Building Details
Year built
1920
Listing Agency:
eXp Realty, LLC
(888) 519-5113
Listed By:
Jason Miller · License #328506
(901) 212-4141
Added: May 21
Changed: Aug 20
Last Checked: Aug 23 at 1:06PM
MLS# 10222084
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 triplex contains 1,514 square feet across three residential units. The unit configuration includes one three-bedroom, two-bath residence, one two-bedroom, one-bath residence, and one one-bedroom, one-bath residence. The property was built in 1920.
Located at 3569 DOUGLASS Ave in Memphis, Tennessee, the property carries a 38111 ZIP code and is situated in Shelby County.
Located at 3569 DOUGLASS Ave in Memphis, Tennessee, the property carries a 38111 ZIP code and is situated in Shelby County.
Key Highlights
- Three‑unit triplex configuration
- 1,514 square feet of property size
- Unit mix includes 3 bedrooms and 2 baths, 2 bedrooms and 1 bath, and 1 bedroom and 1 bath
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
$12,768
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
4.56%
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%
$255,360
$255.4K
Cap Rate 7%
$182,400
$182.4K
Cap Rate 9%
$141,867
$141.9K
Market Conditions
NOI Build-Up for 1,514 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
$19.4K $12.84/SF
− Vacancy
−$1.2K −$0.79/SF
EGI
$18.2K $12.05/SF
− OpEx
−$5.5K −$3.61/SF
NOI
$12.8K $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%
$255,360
Cap Rate 7%
$182,400
Cap Rate 9%
$141,867
Alternative Uses
Best Use
Multifamily LT 5
$182.4K
$159.6K – $212.8K
NOI $12,768 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$161.5K
$141.3K – $188.4K
NOI $11,305 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$447.5K
$391.5K – $522.0K
NOI $31,322 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
639
Businesses Nearby
Explore this area
Business Placement
Demographics for 38111, TN
40,533
Population
20,084
Households
2
Avg Household Size
34
Median Age
38%
College-Educated
89%
High-School Grad
9.8 sq mi
ZIP Area
4,136
Density / Sq Mi
$52,806
Median Household Income
$33,449
Median Earnings
$1,077
Median Rent
$165,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residences offer a varied bedroom and bathroom mix within a compact multifamily property.
Where is this triplex located?
The property is located at 3569 DOUGLASS Ave Memphis, TN.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Three‑unit triplex configuration; 1,514 square feet of property size; Unit mix includes 3 bedrooms and 2 baths, 2 bedrooms and 1 bath, and 1 bedroom and 1 bath
