Two-Unit
1394 Chadwick Cir, Memphis, TN 38114
For Sale
New
$186,000
Each residence has two bedrooms and one bathroom, and one unit is currently tenant-occupied.
Property Size1,824 SF
Price / SF$101.97
Days on Market4
Property Features for 1394 Chadwick Cir
General Information
Standard status
Size
Property subtype
Property Condition
Severity
Evidence
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Year Built
Listing Agency:
Mle Realty, LLC
Listed By:
Stacia Rosatti
(901) 270-9019
Source:
Staciarosatti
Added: Nov 4
Changed: Nov 6
Last Checked: Nov 6 at 7:52AM
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 Mle Realty, LLC
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Investment Insights
Based on property information with market context.
This 1,824-square-foot duplex, built in 1951, contains two separate residences with two bedrooms and one bathroom apiece. Both units have been renovated, though one requires additional work related to an HVAC system issue. One residence is tenant-occupied, providing rental income; the other is available for a different occupancy arrangement.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 1,824 square feet; built in 1951
- Renovations completed in both units; one needs further repairs tied to an HVAC issue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,383
Cap Rate
8.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$307,660
$307.7K
Cap Rate 7%
$219,757
$219.8K
Cap Rate 9%
$170,922
$170.9K
Market Conditions
NOI Build-Up for 1,824 SF
Gross rent
$23.4K $12.84/SF
− Vacancy
−$1.4K −$0.79/SF
EGI
$22.0K $12.05/SF
− OpEx
−$6.6K −$3.61/SF
NOI
$15.4K $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 Rate 5%
$307,660
Cap Rate 7%
$219,757
Cap Rate 9%
$170,922
Alternative Uses
Best Use
Multifamily LT 5
$219.8K
$192.3K – $256.4K
NOI $15,383 @ 7.0% cap · market cap 8.27%
Second Best
Apartment 5plus
$194.6K
$170.3K – $227.0K
NOI $13,620 @ 7.0% cap · market cap 7.32%
Theoretical Best
Office A
$539.1K
$471.7K – $628.9K
NOI $37,735 @ 7.0% cap · market cap 20.29%
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
442
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
$79,000
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Memphis, TN
Properties on Market for Duplexes in Memphis
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms and one bathroom, and one unit is currently tenant-occupied.
Where is this duplex located?
The property is located at 1394 Chadwick Cir Memphis, TN.
What is the asking price?
The asking price for this property is $186,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; 1,824 square feet; built in 1951; Renovations completed in both units; one needs further repairs tied to an HVAC issue
