Duplex with Updated
For Sale
$144,000
1386 KIMBALL Cv, Memphis, TN 38114
Duplexes, Traditional, Memphis, TN
Property Size1,606 SF
Price / SF$89.66
Days on Market51
Property Features for 1386 KIMBALL Cv
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1, Bedroom 4
Subdivision
POPPENHEIMERS KIMBALL AVE
Standard status
Active
Size
1,606 SF
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
1202
Building Details
Year built
1952
Architectural style
Other
Buildings
1
Listing Agency:
KAIZEN Realty, LLC
(901) 221-4041
Listed By:
Jeremy Veldman
(662) 418-7511
Added: Sep 10
Changed: Oct 30
Last Checked: Oct 30 at 8:06AM
MLS# 10230238
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.
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Investment Insights
Based on property information with market context.
This 1,606-square-foot duplex was built in 1952 and includes two residential units identified as 1386 and 1388. The property has received key system updates, including a replacement roof and HVAC equipment in 2019. The water heater serving unit 1386 was replaced in 2026.
Both units are currently leased. The lease for unit 1386 runs through 6/30/2027, while unit 1388 is leased through 12/31/2026. Tenant ledgers and a maintenance report are available upon request. Interior photographs are not available, and showings are conducted only after an accepted offer.
Both units are currently leased. The lease for unit 1386 runs through 6/30/2027, while unit 1388 is leased through 12/31/2026. Tenant ledgers and a maintenance report are available upon request. Interior photographs are not available, and showings are conducted only after an accepted offer.
Key Highlights
- 1,606 SF duplex built in 1952
- Two leased residential units identified as 1386 and 1388
- Roof and HVAC replaced in 2019
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,992
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$239,840
$239.8K
Cap Rate 7%
$171,314
$171.3K
Cap Rate 9%
$133,244
$133.2K
Market Conditions
NOI Build-Up for 1,606 SF
Gross rent
$23.3K $14.52/SF
− Vacancy
−$1.5K −$0.94/SF
EGI
$21.8K $13.58/SF
− OpEx
−$9.8K −$6.11/SF
NOI
$12.0K $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%
$239,840
Cap Rate 7%
$171,314
Cap Rate 9%
$133,244
Alternative Uses
Best Use
Multifamily LT 5
$193.5K
$169.3K – $225.7K
NOI $13,544 @ 7.0% cap · market cap 9.41%
Second Best
Apartment 5plus
$171.3K
$149.9K – $199.9K
NOI $11,992 @ 7.0% cap · market cap 8.33%
Theoretical Best
Office A
$474.6K
$415.3K – $553.8K
NOI $33,225 @ 7.0% cap · market cap 23.07%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
375
Businesses Nearby
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Business Placement
Demographics for 38114, TN
23,559
Population
12,252
Households
1.9
Avg Household Size
38
Median Age
14%
College-Educated
82%
High-School Grad
7.6 sq mi
ZIP Area
3,100
Density / Sq Mi
$32,080
Median Household Income
$28,570
Median Earnings
$897
Median Rent
$79,000
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
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential income property with leases extending into 2026 and 2027.
Where is this duplex located?
The property is located at 1386 KIMBALL Cv Memphis, TN.
What is the asking price?
The asking price for this property is $144,000.
What are key features of this property?
This property features: 1,606 SF duplex built in 1952; Two leased residential units identified as 1386 and 1388; Roof and HVAC replaced in 2019
