Renovated Duplex with Updated
For Sale
$220,900
2412 Vollintine Ave, Memphis, TN 38108
Two-unit residential income property with recent renovations, one occupied side, and one vacant unit available for showing.
Property Size1,505 SF
Price / SF$146.78
Days on Market11
Property Features for 2412 Vollintine Ave
General Information
Standard status
Active
Size
1,505 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1940
Year Renovated
2025
Listing Agency:
Renshaw Company, Realtors
(901) 270-9019
Listed By:
Stacia Rosatti · License #3298267
(901) 270-9019
Source:
Staciarosatti
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 29 at 8:59AM
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 Renshaw Company, Realtors
Investment Insights
Based on property information with market context.
This 1940-built duplex contains 1505 square feet and underwent professional renovations in 2025. Major building systems have been updated, including a roof less than 3 years old and HVAC and water heater equipment that are 1 year old. The property is presented as turnkey and is professionally managed by Reedy and Company Realtors, who would like to continue management.
The 2412 side is currently rented through 02/28/2027 and is current. The 2414 side is vacant and available for easy showing, providing a clear view of the second unit. The property is located at 2412 Vollintine Ave in Memphis, Tennessee.
The 2412 side is currently rented through 02/28/2027 and is current. The 2414 side is vacant and available for easy showing, providing a clear view of the second unit. The property is located at 2412 Vollintine Ave in Memphis, Tennessee.
Key Highlights
- Duplex with 1505 square feet, built in 1940
- Professional renovations completed in 2025
- Roof is less than 3 years old
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
$12,692
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
5.75%
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%
$253,840
$253.8K
Cap Rate 7%
$181,314
$181.3K
Cap Rate 9%
$141,022
$141.0K
Market Conditions
NOI Build-Up for 1,505 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
$19.3K $12.84/SF
− Vacancy
−$1.2K −$0.79/SF
EGI
$18.1K $12.05/SF
− OpEx
−$5.4K −$3.61/SF
NOI
$12.7K $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%
$253,840
Cap Rate 7%
$181,314
Cap Rate 9%
$141,022
Alternative Uses
Best Use
Multifamily LT 5
$181.3K
$158.7K – $211.5K
NOI $12,692 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$160.5K
$140.5K – $187.3K
NOI $11,238 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$444.8K
$389.2K – $518.9K
NOI $31,135 @ 7.0% cap · market cap 14.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
299
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 income property with recent renovations, one occupied side, and one vacant unit available for showing.
Where is this duplex located?
The property is located at 2412 Vollintine Ave Memphis, TN.
What is the asking price?
The asking price for this property is $220,900.
What are key features of this property?
This property features: Duplex with 1505 square feet, built in 1940; Professional renovations completed in 2025; Roof is less than 3 years old
