Tenant-Occupied
New
For Sale
$190,000
1036 Hudson St, Memphis, TN 38112
Two-unit residential property with current occupants and staggered lease expirations.
Property Size1,836 SF
Price / SF$103.49
Days on Market4
Property Features for 1036 Hudson St
General Information
Standard status
Active
Size
1,836 SF
Property subtype
Multi-Family
Additional Details
Gross Income
$20,040
Multifamily Units
2
Building Details
Year Built
1949
Tenancy
Multi
Listing Agency:
Crye-Leike, Inc., Realtors
Listed By:
The Eric Crutcher Sales Team
(901) 212-2414
Source:
Doorstep-realty
Added: Sep 12
Changed: Sep 14
Last Checked: Sep 14 at 8:33AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Crye-Leike, Inc., Realtors
Investment Insights
Based on property information with market context.
This tenant-occupied duplex contains two residential units within 1836 square feet and was built in 1949. Unit 1 at 1036 Hudson St. has a lease running through 11/30/2026, while Unit 2 at 1038 Hudson St. is leased through 9/30/2026. The Unit 2 lease is not expected to renew, creating a defined upcoming change in occupancy.
The property is currently restricted to drive-by viewing, and interior access to both units requires an accepted contract. Lease documents and ledgers are available during due diligence. The Unit 2 side is scheduled for cleanup and future marketing after the tenant vacates.
The property is currently restricted to drive-by viewing, and interior access to both units requires an accepted contract. Lease documents and ledgers are available during due diligence. The Unit 2 side is scheduled for cleanup and future marketing after the tenant vacates.
Key Highlights
- Duplex with two tenant‑occupied residential units
- 1836 square feet of building area
- Built in 1949
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
$15,484
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
8.15%
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%
$309,680
$309.7K
Cap Rate 7%
$221,200
$221.2K
Cap Rate 9%
$172,044
$172.0K
Market Conditions
NOI Build-Up for 1,836 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
$23.6K $12.84/SF
− Vacancy
−$1.5K −$0.79/SF
EGI
$22.1K $12.05/SF
− OpEx
−$6.6K −$3.61/SF
NOI
$15.5K $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%
$309,680
Cap Rate 7%
$221,200
Cap Rate 9%
$172,044
Alternative Uses
Best Use
Multifamily LT 5
$221.2K
$193.6K – $258.1K
NOI $15,484 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$195.8K
$171.4K – $228.5K
NOI $13,709 @ 7.0% cap · market cap 7.22%
Theoretical Best
Office A
$542.6K
$474.8K – $633.1K
NOI $37,983 @ 7.0% cap · market cap 19.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
254
Businesses Nearby
Explore this area
Business Placement
Demographics for 38112, TN
16,970
Population
7,425
Households
2.3
Avg Household Size
32
Median Age
38%
College-Educated
85%
High-School Grad
4.8 sq mi
ZIP Area
3,535
Density / Sq Mi
$52,639
Median Household Income
$29,576
Median Earnings
$969
Median Rent
$206,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with current occupants and staggered lease expirations.
Where is this duplex located?
The property is located at 1036 Hudson St Memphis, TN.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: Duplex with two tenant‑occupied residential units; 1836 square feet of building area; Built in 1949
