Renovated 2-Unit
1394 CHADWICK Cir, Memphis, TN 38114
For Sale
New
$186,000
Duplexes, Traditional, Memphis, TN
Property Size1,824 SF
Price / SF$101.97
Days on Market5
Property Features for 1394 CHADWICK Cir
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Subdivision
Standard status
Size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Building Details
Year built
Architectural style
Listing Agency:
Fast Track Realty, LLC
(901) 767-8770
Listed By:
Jennifer Moore
(901) 210-3726
Added: Nov 3
Last Checked: Nov 7 at 4:06PM
MLS# 10233750
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.
Built in 1951, this 1,824-square-foot duplex contains two separate residences, each configured with two bedrooms and one bathroom. Renovations have been completed in both units, although one requires further work related to an HVAC system issue.
A tenant currently occupies one of the residences. The two-unit layout provides distinct living spaces within a single property.
A tenant currently occupies one of the residences. The two-unit layout provides distinct living spaces within a single property.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 1,824 square feet across two units
- Renovations completed in both units
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, with one unit currently occupied by a tenant.
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 residences, each with 2 bedrooms and 1 bathroom; 1,824 square feet across two units; Renovations completed in both units
