Two-Unit Duplex with New
For Sale
$189,000
1092 N Evergreen St, Memphis, TN 38107
Corner-lot property with two three-bedroom, two-bath residences and central HVAC.
Property Size2,280 SF
Price / SF$82.89
Days on Market54
Property Features for 1092 N Evergreen St
General Information
Standard status
Active
Size
2,280 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
central AC/Heat
Building Details
Year Built
1950
Buildings
1
Listing Agency:
Uc River City Realty
Listed By:
The Eric Crutcher Sales Team
(901) 212-2414
Source:
Doorstep-realty
Added: Aug 23
Changed: Oct 15
Last Checked: Oct 14 at 11:17PM
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 Uc River City Realty
Investment Insights
Based on property information with market context.
Built in 1950, this duplex contains two residential units, each with three bedrooms and two full bathrooms. Both residences have central air conditioning and heat, while newer windows serve as a recent improvement. The property is being offered in its current as-is condition.
The building occupies a corner lot at 1092 N Evergreen St in Memphis, within the Vollintine Evergreen subdivision. The left unit is occupied under a month-to-month arrangement, and the right unit is vacant and available for viewing. Access to the occupied residence should be coordinated without disturbing the tenant.
The building occupies a corner lot at 1092 N Evergreen St in Memphis, within the Vollintine Evergreen subdivision. The left unit is occupied under a month-to-month arrangement, and the right unit is vacant and available for viewing. Access to the occupied residence should be coordinated without disturbing the tenant.
Key Highlights
- Two‑unit duplex with 2,280 SF of property size
- Each unit includes 3 bedrooms and 2 full baths
- Central AC and heat in both residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,025
Cap Rate
9.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$340,500
$340.5K
Cap Rate 7%
$243,214
$243.2K
Cap Rate 9%
$189,167
$189.2K
Market Conditions
NOI Build-Up for 2,280 SF
Gross rent
$33.1K $14.52/SF
− Vacancy
−$2.2K −$0.94/SF
EGI
$31.0K $13.58/SF
− OpEx
−$13.9K −$6.11/SF
NOI
$17.0K $7.47/SF
Area
Memphis, TN
Vacancy
6.50%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$340,500
Cap Rate 7%
$243,214
Cap Rate 9%
$189,167
Alternative Uses
Best Use
Multifamily LT 5
$274.7K
$240.4K – $320.5K
NOI $19,228 @ 7.0% cap · market cap 10.17%
Second Best
Apartment 5plus
$243.2K
$212.8K – $283.8K
NOI $17,025 @ 7.0% cap · market cap 9.01%
Theoretical Best
Office A
$673.8K
$589.6K – $786.2K
NOI $47,169 @ 7.0% cap · market cap 24.96%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
Explore this area
Business Placement
Demographics for 38107, TN
15,655
Population
8,093
Households
1.9
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
5.4 sq mi
ZIP Area
2,899
Density / Sq Mi
$36,393
Median Household Income
$34,958
Median Earnings
$999
Median Rent
$128,600
Median Home Value
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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 - Corner-lot property with two three-bedroom, two-bath residences and central HVAC.
Where is this duplex located?
The property is located at 1092 N Evergreen St Memphis, TN.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,280 SF of property size; Each unit includes 3 bedrooms and 2 full baths; Central AC and heat in both residences
