Two-Unit Brick
New
For Sale
$239,900
1841-1843 S Perkins Rd, Memphis, TN 38117
Separate entrances and parking serve two three-bedroom residences with individual living and dining areas.
Property Size2,544 SF
Price / SF$94.30
Days on Market6
Property Features for 1841-1843 S Perkins Rd
General Information
Standard status
Active
Size
2,544 SF
Property subtype
Multi-Family
Building Details
Year Built
1972
Listing Agency:
Keller Williams
Listed By:
John Quinn · License #3298267
(901) 591-8100
Source:
Johnquinnrealestate
Added: Sep 30
Changed: Oct 4
Last Checked: Oct 4 at 9:28AM
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 Keller Williams
Investment Insights
Based on property information with market context.
This 2,544-square-foot brick duplex was built in 1972 and contains two separate units, each with three bedrooms and two bathrooms. Both residences have a private primary bedroom and bath, a living area, and an eat-in kitchen with breakfast or dining space. Durable flooring, neutral interior finishes, laundry connections, and electric water heaters are present in each unit. The two homes have separate entrances, with parking divided between the front and rear of the property.
One unit is tenant occupied. The property is located at 1841-1843 S Perkins Rd in Memphis, Tennessee.
One unit is tenant occupied. The property is located at 1841-1843 S Perkins Rd in Memphis, Tennessee.
Key Highlights
- Two units, each with 3 bedrooms and 2 baths
- 2,544 square feet; built in 1972
- Brick exterior with separate entrances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,455
Cap Rate
8.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,100
$429.1K
Cap Rate 7%
$306,500
$306.5K
Cap Rate 9%
$238,389
$238.4K
Market Conditions
NOI Build-Up for 2,544 SF
Gross rent
$32.7K $12.84/SF
− Vacancy
−$2.0K −$0.79/SF
EGI
$30.6K $12.05/SF
− OpEx
−$9.2K −$3.61/SF
NOI
$21.5K $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%
$429,100
Cap Rate 7%
$306,500
Cap Rate 9%
$238,389
Alternative Uses
Best Use
Multifamily LT 5
$306.5K
$268.2K – $357.6K
NOI $21,455 @ 7.0% cap · market cap 8.94%
Second Best
Apartment 5plus
$271.4K
$237.5K – $316.6K
NOI $18,996 @ 7.0% cap · market cap 7.92%
Theoretical Best
Office A
$751.9K
$657.9K – $877.2K
NOI $52,630 @ 7.0% cap · market cap 21.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
364
Businesses Nearby
Explore this area
Business Placement
Demographics for 38117, TN
27,138
Population
12,045
Households
2.3
Avg Household Size
40
Median Age
60%
College-Educated
95%
High-School Grad
9.4 sq mi
ZIP Area
2,887
Density / Sq Mi
$93,688
Median Household Income
$52,596
Median Earnings
$1,353
Median Rent
$287,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Separate entrances and parking serve two three-bedroom residences with individual living and dining areas.
Where is this duplex located?
The property is located at 1841-1843 S Perkins Rd Memphis, TN.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 2 baths; 2,544 square feet; built in 1972; Brick exterior with separate entrances
