Duplex with Side
For Sale
$295,000
2022 COURTLAND Pl, Memphis, TN 38104
Duplexes, Traditional, Memphis, TN
Property Size1,682 SF
Price / SF$175.39
Days on Market120
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Property Features for 2022 COURTLAND Pl
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 2
Subdivision
UNION PARK PL
Standard status
Active
Size
1,682 SF
Taxes and HOA fees
Tax Annual Amount
2682
Amenities
hardwood floors
smooth ceilings
central heat and air
fenced backyard
storage sheds
side deck
Building Details
Year built
1945
Architectural style
Other
Listing Agency:
BHHS McLemore & Co. Realty · Real Living
(901) 701-7555
Listed By:
Amanda Lott
(901) 461-9246
Added: Jun 18
Changed: Oct 14
Last Checked: Oct 15 at 2:06PM
MLS# 10224227
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.
Built in 1945, this 1,682-square-foot duplex contains two two-bedroom units. Interior features include hardwood flooring, smooth ceilings, central heat and air, and appliances that remain with the property. The roof was replaced five years ago. A side deck, fenced backyard, and two storage sheds—one assigned to each residence—provide additional outdoor and storage space. One unit is currently rented.
Cooper-Young and Overton Square are nearby, with restaurants and entertainment in both areas.
Cooper-Young and Overton Square are nearby, with restaurants and entertainment in both areas.
Key Highlights
- Two two‑bedroom residences in a 1,682‑square‑foot duplex
- One unit is currently rented
- Built in 1945; roof is 5 years old
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,185
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$283,700
$283.7K
Cap Rate 7%
$202,643
$202.6K
Cap Rate 9%
$157,611
$157.6K
Market Conditions
NOI Build-Up for 1,682 SF
Gross rent
$21.6K $12.84/SF
− Vacancy
−$1.3K −$0.79/SF
EGI
$20.3K $12.05/SF
− OpEx
−$6.1K −$3.61/SF
NOI
$14.2K $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%
$283,700
Cap Rate 7%
$202,643
Cap Rate 9%
$157,611
Alternative Uses
Best Use
Multifamily LT 5
$202.6K
$177.3K – $236.4K
NOI $14,185 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$179.4K
$157.0K – $209.3K
NOI $12,559 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$497.1K
$435.0K – $580.0K
NOI $34,797 @ 7.0% cap · market cap 11.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,503
Businesses Nearby
Explore this area
Business Placement
Demographics for 38104, TN
22,584
Population
14,315
Households
1.6
Avg Household Size
38
Median Age
52%
College-Educated
93%
High-School Grad
5.0 sq mi
ZIP Area
4,517
Density / Sq Mi
$56,452
Median Household Income
$48,300
Median Earnings
$1,073
Median Rent
$301,100
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
Frequently Asked Questions
What type of property is this?
Duplex - One of the two residences is currently rented.
Where is this duplex located?
The property is located at 2022 COURTLAND Pl Memphis, TN.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two two‑bedroom residences in a 1,682‑square‑foot duplex; One unit is currently rented; Built in 1945; roof is 5 years old
