Renovated Duplex with Central
New
For Sale
$385,000
6436 OAK PARK Dr, Memphis, TN 38134
Duplexes, Traditional, Memphis, TN
Property Size2,312 SF
Price / SF$166.52
Days on Market7
Property Features for 6436 OAK PARK Dr
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 6, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 4, Bedroom 5, Bathroom 2, Bedroom 2
Subdivision
GREENBROOK 1ST ADDN
Standard status
Active
Size
2,312 SF
Taxes and HOA fees
Tax Annual Amount
2231
Building Details
Year built
1974
Architectural style
Other
Listing Agency:
Marx-Bensdorf, REALTORS
(901) 682-1868
Listed By:
Thomas Murphree
(901) 359-3847
Added: Sep 4
Changed: Sep 9
Last Checked: Sep 10 at 9:06AM
MLS# 10229797
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 at 6436 Oak Park Dr. contains 2,312 square feet and was built in 1974. The property has been updated and renovated within the past two years, with built-in appliances, central air conditioning, and central heat serving both units. Major systems are reported to be in good condition.
The property is near I-40 and just north of Shelby Farms. Shopping, dining, parks, schools, entertainment, and other urban amenities are approximately 5-10 minutes away. The duplex is tenant occupied, and showings require an appointment with at least 48 hours' notice. Proof of funds is required before a showing can be scheduled.
The property is near I-40 and just north of Shelby Farms. Shopping, dining, parks, schools, entertainment, and other urban amenities are approximately 5-10 minutes away. The duplex is tenant occupied, and showings require an appointment with at least 48 hours' notice. Proof of funds is required before a showing can be scheduled.
Key Highlights
- 2,312‑square‑foot duplex updated and renovated within the past two years
- Built in 1974 with major systems reported to be in good condition
- Built‑in appliances, central air conditioning, and central heat in both units
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
$19,498
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
5.06%
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%
$389,960
$390.0K
Cap Rate 7%
$278,543
$278.5K
Cap Rate 9%
$216,644
$216.6K
Market Conditions
NOI Build-Up for 2,312 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
$29.7K $12.84/SF
− Vacancy
−$1.8K −$0.79/SF
EGI
$27.9K $12.05/SF
− OpEx
−$8.4K −$3.61/SF
NOI
$19.5K $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%
$389,960
Cap Rate 7%
$278,543
Cap Rate 9%
$216,644
Alternative Uses
Best Use
Multifamily LT 5
$278.5K
$243.7K – $325.0K
NOI $19,498 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$246.6K
$215.8K – $287.7K
NOI $17,263 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$683.3K
$597.9K – $797.2K
NOI $47,831 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
Explore this area
Business Placement
Demographics for 38134, TN
41,760
Population
15,685
Households
2.7
Avg Household Size
35
Median Age
21%
College-Educated
86%
High-School Grad
18.6 sq mi
ZIP Area
2,245
Density / Sq Mi
$61,172
Median Household Income
$39,185
Median Earnings
$1,147
Median Rent
$184,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 built-in appliances, central air conditioning, and central heat in each residence.
Where is this duplex located?
The property is located at 6436 OAK PARK Dr Memphis, TN.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 2,312‑square‑foot duplex updated and renovated within the past two years; Built in 1974 with major systems reported to be in good condition; Built‑in appliances, central air conditioning, and central heat in both units
