Brick Duplex with Hardwood
For Sale
$399,000
766 ROLAND St, Memphis, TN 38104
Duplexes, Traditional, Memphis, TN
Property Size2,895 SF
Price / SF$137.82
Days on Market77
Property Features for 766 ROLAND St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bathroom 4, Bathroom 3, Bedroom 2
Subdivision
ROLAND YORK SD
Standard status
Active
Size
2,895 SF
Taxes and HOA fees
Tax Annual Amount
4782
Building Details
Year built
1971
Architectural style
Other
Listing Agency:
mlsAssist
(901) 266-6000
Listed By:
Bruce Johnson
(901) 266-6000
Added: Jun 11
Changed: Aug 19
Last Checked: Aug 26 at 5:06AM
MLS# 10223710
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 2,895-square-foot duplex, built in 1971, provides two residential units with spacious living areas and practical layouts. Interior details include hardwood flooring, ample natural light, brick accents, and kitchens and bathrooms finished in clean, neutral tones. The property contains four bedrooms and four bathrooms overall.
The home is situated in Memphis’s Midtown area, with dining, shopping, and entertainment nearby. Its two-unit configuration supports separate residential occupancy within one property and offers flexibility for rental use or an owner-occupant arrangement.
The home is situated in Memphis’s Midtown area, with dining, shopping, and entertainment nearby. Its two-unit configuration supports separate residential occupancy within one property and offers flexibility for rental use or an owner-occupant arrangement.
Key Highlights
- 2,895‑square‑foot duplex with two residential units
- Four bedrooms and four bathrooms overall
- Built in 1971
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
$24,415
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
6.12%
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%
$488,300
$488.3K
Cap Rate 7%
$348,786
$348.8K
Cap Rate 9%
$271,278
$271.3K
Market Conditions
NOI Build-Up for 2,895 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
$37.2K $12.84/SF
− Vacancy
−$2.3K −$0.79/SF
EGI
$34.9K $12.05/SF
− OpEx
−$10.5K −$3.61/SF
NOI
$24.4K $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%
$488,300
Cap Rate 7%
$348,786
Cap Rate 9%
$271,278
Alternative Uses
Best Use
Multifamily LT 5
$348.8K
$305.2K – $406.9K
NOI $24,415 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$308.8K
$270.2K – $360.3K
NOI $21,617 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$855.6K
$748.7K – $998.2K
NOI $59,892 @ 7.0% cap · market cap 15.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
417
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
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Frequently Asked Questions
What type of property is this?
Duplex - Four-bedroom, four-bath duplex near Midtown dining, shopping, and entertainment.
Where is this duplex located?
The property is located at 766 ROLAND St Memphis, TN.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,895‑square‑foot duplex with two residential units; Four bedrooms and four bathrooms overall; Built in 1971
