Two-Unit Duplex Investment
For Sale
$244,000
2023 Young Ave, Memphis, TN 38104
Two-unit residential income property with professional management already established as an optional service.
Property Size1,932 SF
Price / SF$126.29
Days on Market53
Property Features for 2023 Young Ave
General Information
Standard status
Active
Size
1,932 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Midtown Memphis Development Corp.
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
Crye-Leike, Inc., Realtors
Listed By:
The Eric Crutcher Sales Team
(901) 212-2414
Source:
Doorstep-realty
Added: Sep 9
Changed: Oct 28
Last Checked: Oct 30 at 2:08PM
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
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Investment Insights
Based on property information with market context.
This two-unit duplex at 2023 Young Ave in Memphis provides a straightforward residential income-property configuration. The building contains 1,932 square feet and was constructed in 1920, offering an established property format for an investor seeking a multifamily asset.
Professional property management is already in place and may be retained or discontinued. The property is situated near Midtown Memphis attractions, adding an established urban setting to the asset’s residential income profile.
Professional property management is already in place and may be retained or discontinued. The property is situated near Midtown Memphis attractions, adding an established urban setting to the asset’s residential income profile.
Key Highlights
- Two‑unit duplex configuration
- 1,932 square feet of building area
- Constructed in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,293
Cap Rate
6.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,860
$325.9K
Cap Rate 7%
$232,757
$232.8K
Cap Rate 9%
$181,033
$181.0K
Market Conditions
NOI Build-Up for 1,932 SF
Gross rent
$24.8K $12.84/SF
− Vacancy
−$1.5K −$0.79/SF
EGI
$23.3K $12.05/SF
− OpEx
−$7.0K −$3.61/SF
NOI
$16.3K $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%
$325,860
Cap Rate 7%
$232,757
Cap Rate 9%
$181,033
Alternative Uses
Best Use
Multifamily LT 5
$232.8K
$203.7K – $271.6K
NOI $16,293 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$206.1K
$180.3K – $240.4K
NOI $14,426 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$571.0K
$499.6K – $666.2K
NOI $39,969 @ 7.0% cap · market cap 16.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
698
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential income property with professional management already established as an optional service.
Where is this duplex located?
The property is located at 2023 Young Ave Memphis, TN.
What is the asking price?
The asking price for this property is $244,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; 1,932 square feet of building area; Constructed in 1920
