Duplex Property with Package
For Sale
$400,000
2426 Charjean Cv, Memphis, TN 38114
Built in 1964, this duplex property is offered with 75% occupancy as part of a multi-property package.
Property Size1,620 SF
Price / SF$246.91
Days on Market51
Property Features for 2426 Charjean Cv
General Information
Standard status
Active
Size
1,620 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
South Memphis Alliance
Building Details
Year Built
1964
Listing Agency:
Small Town Hunting Properties
Listed By:
The Eric Crutcher Sales Team
(901) 212-2414
Source:
Doorstep-realty
Added: Sep 4
Changed: Oct 23
Last Checked: Oct 23 at 6:52AM
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 Small Town Hunting Properties
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Investment Insights
Based on property information with market context.
This duplex property at 2426 Charjean Cv. in Memphis was built in 1964 and has a listed property size of 1,620. Current occupancy is reported at 75%. The offering includes 2412 Charjean Cv., 2428 Charjean Cv., 2436 Charjean Cv., and 2440 Charjean Cv. as part of the same package. Tenant access is restricted, with entry available only after an accepted contract.
Key Highlights
- Duplex property built in 1964
- 75% occupancy reported
- Listed property size of 1,620
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,662
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$273,240
$273.2K
Cap Rate 7%
$195,171
$195.2K
Cap Rate 9%
$151,800
$151.8K
Market Conditions
NOI Build-Up for 1,620 SF
Gross rent
$20.8K $12.84/SF
− Vacancy
−$1.3K −$0.79/SF
EGI
$19.5K $12.05/SF
− OpEx
−$5.9K −$3.61/SF
NOI
$13.7K $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 Rate 5%
$273,240
Cap Rate 7%
$195,171
Cap Rate 9%
$151,800
Alternative Uses
Best Use
Multifamily LT 5
$195.2K
$170.8K – $227.7K
NOI $13,662 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$172.8K
$151.2K – $201.6K
NOI $12,096 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$478.8K
$418.9K – $558.6K
NOI $33,515 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
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Business Placement
Demographics for 38114, TN
23,559
Population
12,252
Households
1.9
Avg Household Size
38
Median Age
14%
College-Educated
82%
High-School Grad
7.6 sq mi
ZIP Area
3,100
Density / Sq Mi
$32,080
Median Household Income
$28,570
Median Earnings
$897
Median Rent
$79,000
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 - Built in 1964, this duplex property is offered with 75% occupancy as part of a multi-property package.
Where is this duplex located?
The property is located at 2426 Charjean Cv Memphis, TN.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Duplex property built in 1964; 75% occupancy reported; Listed property size of 1,620
