Two-Unit Duplex with Private
New
For Sale
$370,000
699 S BARKSDALE St, Memphis, TN 38104
Duplexes, Traditional, Memphis, TN
Property Size2,179 SF
Price / SF$169.80
Days on Market1
Property Features for 699 S BARKSDALE St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 4
Subdivision
ROYNON
Standard status
Active
Size
2,179 SF
Taxes and HOA fees
Tax Annual Amount
2289
Building Details
Year built
1927
Architectural style
Other
Listing Agency:
The Carter Group LLC, REALTORS
Listed By:
Steven Ford
(901) 753-7222
Added: Sep 8
Last Checked: Sep 8 at 9:06PM
MLS# 10229964
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.
Located at 699 S Barksdale St in Memphis, this 2,179-square-foot duplex contains two residential units. Each side provides two bedrooms, one bathroom, central heat and air, a washer and dryer, and a private backyard. The property was built in 1927 and is positioned in the Central Gardens area of Memphis, within ZIP Code 38104.
Both units are currently occupied. One lease runs through August 2027, while the other tenancy is month-to-month. This offers a combination of established occupancy and near-term flexibility for a purchaser. Property access for viewing is subject to a negotiated contract.
Both units are currently occupied. One lease runs through August 2027, while the other tenancy is month-to-month. This offers a combination of established occupancy and near-term flexibility for a purchaser. Property access for viewing is subject to a negotiated contract.
Key Highlights
- 2,179‑square‑foot duplex with two residential units
- Each unit includes 2 bedrooms and 1 bathroom
- Private backyard provided for each residence
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
$18,376
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
4.97%
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%
$367,520
$367.5K
Cap Rate 7%
$262,514
$262.5K
Cap Rate 9%
$204,178
$204.2K
Market Conditions
NOI Build-Up for 2,179 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
$28.0K $12.84/SF
− Vacancy
−$1.7K −$0.79/SF
EGI
$26.3K $12.05/SF
− OpEx
−$7.9K −$3.61/SF
NOI
$18.4K $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%
$367,520
Cap Rate 7%
$262,514
Cap Rate 9%
$204,178
Alternative Uses
Best Use
Multifamily LT 5
$262.5K
$229.7K – $306.3K
NOI $18,376 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$232.4K
$203.4K – $271.2K
NOI $16,270 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$644.0K
$563.5K – $751.3K
NOI $45,079 @ 7.0% cap · market cap 12.18%
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
827
Businesses Nearby
Explore this area
Business Placement
Demographics for 38104, TN
22,584
Population
14,315
Households
1.6
Avg Household Size
38
Median Age
52%
College-Educated
93%
High-School Grad
5.0 sq mi
ZIP Area
4,517
Density / Sq Mi
$56,452
Median Household Income
$48,300
Median Earnings
$1,073
Median Rent
$301,100
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 - Central Gardens duplex with two separately leased residences and in-unit laundry equipment.
Where is this duplex located?
The property is located at 699 S BARKSDALE St Memphis, TN.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: 2,179‑square‑foot duplex with two residential units; Each unit includes 2 bedrooms and 1 bathroom; Private backyard provided for each residence
