Renovated Duplex with Commercial
For Sale
$339,850
2417 Jackson Ave, Memphis, TN 38112
Two-unit property with separate kitchens, laundry areas, and adaptable residential or previously approved commercial use.
Property Size3,934 SF
Price / SF$86.39
Days on Market39
Property Features for 2417 Jackson Ave
General Information
Standard status
Active
Size
3,934 SF
Property subtype
Multi-Family
Building Details
Year Built
1947
Listing Agency:
Lawrence Johnson, Realtors
(901) 591-8100
Listed By:
John Quinn
(901) 591-8100
Source:
Johnquinnrealestate
Added: Jul 23
Changed: Aug 30
Last Checked: Aug 26 at 12:43PM
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 Lawrence Johnson, Realtors
Investment Insights
Based on property information with market context.
Located at 2417 Jackson Ave in Memphis, this renovated duplex contains two units totaling 3,934 square feet. The property was built in 1947 and is currently classified for multifamily residential use, with prior Special Use Permit approval for commercial use.
The larger unit includes 6 rooms, a full kitchen, laundry room, and 3 full bathrooms. The second unit offers 4 rooms, a full kitchen, laundry area, 1 full bathroom, and 2 half bathrooms. Both units include plumbing and closets in every room. The corner setting provides street visibility, with proximity to the Memphis Zoo and Rhodes College and access to Downtown Memphis.
The larger unit includes 6 rooms, a full kitchen, laundry room, and 3 full bathrooms. The second unit offers 4 rooms, a full kitchen, laundry area, 1 full bathroom, and 2 half bathrooms. Both units include plumbing and closets in every room. The corner setting provides street visibility, with proximity to the Memphis Zoo and Rhodes College and access to Downtown Memphis.
Key Highlights
- Two‑unit duplex totaling 3,934 square feet
- Renovated property at 2417 Jackson Ave, Memphis, TN 38112
- Larger unit includes 6 rooms, full kitchen, laundry room, and 3 full baths
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
$29,375
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
8.64%
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%
$587,500
$587.5K
Cap Rate 7%
$419,643
$419.6K
Cap Rate 9%
$326,389
$326.4K
Market Conditions
NOI Build-Up for 3,934 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
$57.1K $14.52/SF
− Vacancy
−$3.7K −$0.94/SF
EGI
$53.4K $13.58/SF
− OpEx
−$24.0K −$6.11/SF
NOI
$29.4K $7.47/SF
Area
Memphis, TN
Vacancy
6.50%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
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%
$587,500
Cap Rate 7%
$419,643
Cap Rate 9%
$326,389
Alternative Uses
Best Use
Mixed Use
$682.8K
$597.5K – $796.6K
NOI $47,798 @ 7.0% cap · market cap 14.06%
Second Best
Multifamily LT 5
$474.0K
$414.7K – $553.0K
NOI $33,177 @ 7.0% cap · market cap 9.76%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,387 @ 7.0% cap · market cap 23.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
426
Businesses Nearby
Explore this area
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
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 property with separate kitchens, laundry areas, and adaptable residential or previously approved commercial use.
Where is this duplex located?
The property is located at 2417 Jackson Ave Memphis, TN.
What is the asking price?
The asking price for this property is $339,850.
What are key features of this property?
This property features: Two‑unit duplex totaling 3,934 square feet; Renovated property at 2417 Jackson Ave, Memphis, TN 38112; Larger unit includes 6 rooms, full kitchen, laundry room, and 3 full baths
