Brick Duplex with Updated
New
For Sale
$124,900
1481 Oaklawn St, Memphis, TN 38114
Each side offers two bedrooms and one bathroom with refreshed interior finishes.
Property Size1,355 SF
Price / SF$92.18
Days on Market2
Property Features for 1481 Oaklawn St
General Information
Standard status
Active
Size
1,355 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
Needs a roof
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1967
Construction
brick
Listing Agency:
Crye-Leike, Inc., Realtors
Listed By:
John Quinn
(901) 591-8100
Source:
Johnquinnrealestate
Added: Sep 21
Last Checked: Sep 22 at 4:22PM
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 Crye-Leike, Inc., Realtors
Investment Insights
Based on property information with market context.
This all-brick duplex in Memphis, Tennessee, was built in 1967 and contains two separate units. Each side provides two bedrooms and one bathroom, with newer paint, flooring, kitchen finishes, and bathroom updates already completed.
The property is located at 1481 Oaklawn St. A roof replacement is needed, while the interior improvements provide a foundation for continued residential income use.
The property is located at 1481 Oaklawn St. A roof replacement is needed, while the interior improvements provide a foundation for continued residential income use.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bath on each side
- All‑brick construction
- Newer paint, flooring, kitchens, and baths
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
$11,427
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
9.15%
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%
$228,540
$228.5K
Cap Rate 7%
$163,243
$163.2K
Cap Rate 9%
$126,967
$127.0K
Market Conditions
NOI Build-Up for 1,355 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
$17.4K $12.84/SF
− Vacancy
−$1.1K −$0.79/SF
EGI
$16.3K $12.05/SF
− OpEx
−$4.9K −$3.61/SF
NOI
$11.4K $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 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%
$228,540
Cap Rate 7%
$163,243
Cap Rate 9%
$126,967
Alternative Uses
Best Use
Multifamily LT 5
$163.2K
$142.8K – $190.5K
NOI $11,427 @ 7.0% cap · market cap 9.15%
Second Best
Apartment 5plus
$144.5K
$126.5K – $168.6K
NOI $10,118 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$400.5K
$350.4K – $467.2K
NOI $28,032 @ 7.0% cap · market cap 22.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
201
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
Check the figures for this property
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 - Each side offers two bedrooms and one bathroom with refreshed interior finishes.
Where is this duplex located?
The property is located at 1481 Oaklawn St Memphis, TN.
What is the asking price?
The asking price for this property is $124,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bath on each side; All‑brick construction; Newer paint, flooring, kitchens, and baths
