Furnished
For Sale
$240,000
217 N Hollywood, Memphis, TN 38112
Both residences come furnished and configured for rental use.
Property Size1,230 SF
Price / SF$195.12
Days on Market235
Property Features for 217 N Hollywood
General Information
Standard status
Active
Size
1,230 SF
Property subtype
Two Family Home
Site & Location
Neighborhood
Binghampton Development Corp.
Additional Details
Furnished
Yes
Multifamily Units
2
Building Details
Building Size
1,230 SF
Year Built
1948
Stories
1
Listing Agency:
Fast Track Realty, LLC
(901) 767-8770
Listed By:
Cesar Lara
(901) 246-5634
Source:
Assuredrealestate
Added: Mar 14
Changed: Nov 2
Last Checked: Nov 2 at 1:57PM
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 Fast Track Realty, LLC
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Investment Insights
Based on property information with market context.
This 1,230-square-foot duplex, built in 1948, has two furnished units with updated kitchens and bathrooms. Improvements include new electrical service, HVAC, roof, water lines, and water heater, along with refinished hardwood floors and fresh exterior paint with new lighting.
The property is in Memphis, near Midtown, Overton Park, the Memphis Zoo, restaurants, and shopping. The furnished units are presented for either short-term or long-term rental use.
The property is in Memphis, near Midtown, Overton Park, the Memphis Zoo, restaurants, and shopping. The furnished units are presented for either short-term or long-term rental use.
Key Highlights
- Two furnished units in a 1,230‑square‑foot duplex
- Renovations include new kitchens, bathrooms, roof, HVAC, electrical service, water lines, and water heater
- Refinished hardwood flooring, fresh exterior paint, and new lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,373
Cap Rate
4.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$207,460
$207.5K
Cap Rate 7%
$148,186
$148.2K
Cap Rate 9%
$115,256
$115.3K
Market Conditions
NOI Build-Up for 1,230 SF
Gross rent
$15.8K $12.84/SF
− Vacancy
−$974 −$0.79/SF
EGI
$14.8K $12.05/SF
− OpEx
−$4.4K −$3.61/SF
NOI
$10.4K $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%
$207,460
Cap Rate 7%
$148,186
Cap Rate 9%
$115,256
Alternative Uses
Best Use
Multifamily LT 5
$148.2K
$129.7K – $172.9K
NOI $10,373 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$131.2K
$114.8K – $153.1K
NOI $9,184 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$363.5K
$318.1K – $424.1K
NOI $25,446 @ 7.0% cap · market cap 10.60%
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
1,012
Businesses Nearby
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Business Placement
Demographics for 38112, TN
16,970
Population
7,425
Households
2.3
Avg Household Size
32
Median Age
38%
College-Educated
85%
High-School Grad
4.8 sq mi
ZIP Area
3,535
Density / Sq Mi
$52,639
Median Household Income
$29,576
Median Earnings
$969
Median Rent
$206,900
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 - Both residences come furnished and configured for rental use.
Where is this duplex located?
The property is located at 217 N Hollywood Memphis, TN.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Two furnished units in a 1,230‑square‑foot duplex; Renovations include new kitchens, bathrooms, roof, HVAC, electrical service, water lines, and water heater; Refinished hardwood flooring, fresh exterior paint, and new lighting
