Duplex with Updated
New
For Sale
$144,000
1386 KIMBALL Cv, Memphis, TN 38114
Duplexes, Traditional, Memphis, TN
Property Size1,606 SF
Price / SF$89.66
Days on Market6
Property Features for 1386 KIMBALL Cv
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 1
Subdivision
POPPENHEIMERS KIMBALL AVE
Standard status
Active
Size
1,606 SF
Taxes and HOA fees
Tax Annual Amount
1202
Building Details
Year built
1952
Architectural style
Other
Listing Agency:
KAIZEN Realty, LLC
(901) 221-4041
Listed By:
Jeremy Veldman
(662) 418-7511
Added: Sep 10
Changed: Sep 14
Last Checked: Sep 15 at 5:06AM
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.
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 = 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
$11,992
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
8.33%
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%
$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
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
$23.3K $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 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%
$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.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
375
Businesses Nearby
Explore this area
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
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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
