Duplex With One Vacant
For Sale
$110,000
Pending
2253 Marble Ave, Memphis, TN 38108
Two-unit residential property with an occupied side and a second unit available for showings.
Property Size1,008 SF
Days on Market109
Property Features for 2253 Marble Ave
General Information
Standard status
Pending
Size
1,008 SF
Property subtype
Residential Income
Listing Agency:
eXp Realty, LLC
(901) 325-1164
Listed By:
Jordan Ray · License #375004
(901) 325-1164
Source:
Exprealty
Added: Apr 25
Changed: Aug 7
Last Checked: Aug 10 at 7:10AM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This 1,008-square-foot duplex includes the residences identified as 2253 and 2255 Marble Ave. The 2253 side is occupied by a cash tenant under a lease ending May 31, 2027. The 2255 side is vacant and available for scheduled showings, providing a clear distinction between the two units.
Access to the occupied residence is restricted until an accepted contract is in place. A copy of the lease is available upon request, and offers are subject to inspection. The property may also be purchased individually from a group of investor-owned properties offered in the 38108 area.
Access to the occupied residence is restricted until an accepted contract is in place. A copy of the lease is available upon request, and offers are subject to inspection. The property may also be purchased individually from a group of investor-owned properties offered in the 38108 area.
Key Highlights
- 1,008‑square‑foot duplex at 2253/2255 Marble Ave
- One side occupied by a cash tenant; lease ends May 31, 2027
- Second unit is vacant and available for showings
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
$8,501
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
7.73%
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%
$170,020
$170.0K
Cap Rate 7%
$121,443
$121.4K
Cap Rate 9%
$94,456
$94.5K
Market Conditions
NOI Build-Up for 1,008 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
$12.9K $12.84/SF
− Vacancy
−$799 −$0.79/SF
EGI
$12.1K $12.05/SF
− OpEx
−$3.6K −$3.61/SF
NOI
$8.5K $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 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%
$170,020
Cap Rate 7%
$121,443
Cap Rate 9%
$94,456
Alternative Uses
Best Use
Multifamily LT 5
$121.4K
$106.3K – $141.7K
NOI $8,501 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$107.5K
$94.1K – $125.5K
NOI $7,527 @ 7.0% cap · market cap 6.84%
Theoretical Best
Office A
$297.9K
$260.7K – $347.6K
NOI $20,854 @ 7.0% cap · market cap 18.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
Explore this area
Business Placement
Demographics for 38108, TN
17,051
Population
7,881
Households
2.2
Avg Household Size
34
Median Age
11%
College-Educated
73%
High-School Grad
7.6 sq mi
ZIP Area
2,244
Density / Sq Mi
$35,435
Median Household Income
$32,126
Median Earnings
$921
Median Rent
$62,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with an occupied side and a second unit available for showings.
Where is this duplex located?
The property is located at 2253 Marble Ave Memphis, TN.
What is the asking price?
The asking price for this property is $110,000.
What are key features of this property?
This property features: 1,008‑square‑foot duplex at 2253/2255 Marble Ave; One side occupied by a cash tenant; lease ends May 31, 2027; Second unit is vacant and available for showings
