Renovated
For Sale
$126,900
Pending
1351 Austin St, Memphis, TN 38108
Two-unit residential property in Hyde Park with recent renovations.
Property Size1,508 SF
Days on Market51
Property Features for 1351 Austin St
General Information
Standard status
Pending
Size
1,508 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Hyde Park Cdc
Additional Details
Multifamily Units
2
Building Details
Year Built
1985
Listing Agency:
Hobson, Realtors
Listed By:
John Quinn · License #3298267
(901) 591-8100
Source:
Johnquinnrealestate
Added: Sep 4
Changed: Oct 23
Last Checked: Oct 23 at 6:51AM
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 Hobson, Realtors
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Investment Insights
Based on property information with market context.
This duplex contains two residential units and has been recently renovated. The property was built in 1985 and is located at 1351 Austin St in Memphis, Tennessee 38108. Hyde Park identifies the immediate area, while the duplex format provides a residential income property configuration.
Key Highlights
- Two‑unit duplex configuration
- Recently renovated
- Built in 1985
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,260
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$225,200
$225.2K
Cap Rate 7%
$160,857
$160.9K
Cap Rate 9%
$125,111
$125.1K
Market Conditions
NOI Build-Up for 1,508 SF
Gross rent
$21.9K $14.52/SF
− Vacancy
−$1.4K −$0.94/SF
EGI
$20.5K $13.58/SF
− OpEx
−$9.2K −$6.11/SF
NOI
$11.3K $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%
$225,200
Cap Rate 7%
$160,857
Cap Rate 9%
$125,111
Alternative Uses
Best Use
Multifamily LT 5
$181.7K
$159.0K – $212.0K
NOI $12,718 @ 7.0% cap · market cap 10.02%
Second Best
Apartment 5plus
$160.9K
$140.8K – $187.7K
NOI $11,260 @ 7.0% cap · market cap 8.87%
Theoretical Best
Office A
$445.7K
$390.0K – $520.0K
NOI $31,198 @ 7.0% cap · market cap 24.58%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
314
Businesses Nearby
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Business Placement
Demographics for 38108, TN
17,051
Population
7,881
Households
2.2
Avg Household Size
34
Median Age
11%
College-Educated
73%
High-School Grad
7.6 sq mi
ZIP Area
2,244
Density / Sq Mi
$35,435
Median Household Income
$32,126
Median Earnings
$921
Median Rent
$62,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property in Hyde Park with recent renovations.
Where is this duplex located?
The property is located at 1351 Austin St Memphis, TN.
What is the asking price?
The asking price for this property is $126,900.
What are key features of this property?
This property features: Two‑unit duplex configuration; Recently renovated; Built in 1985
