Renovated Duplex Near
2428 LAMAR Cir, Memphis, TN 38114
- Added:
- Mar 21, 2026
- Days on Market:
- 75
- Last Refresh:
- Jun 3 at 9:06 am
Property Features for 2428 LAMAR Cir
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 2
- Standard status
- Active
- Size
- 1,475 SF
Taxes and HOA fees
- Tax Annual Amount
- 926
Building Details
- Year built
- 1947
- Architectural style
- Other
Listing agent LaJuana Miller (901) 483-1393
Listing office KAIZEN Realty, LLC 7540 North Street, Germantown, TN (901) 221-4041
Listing date Mar 21, 2026
MLS# 10217349
Listing URL
Copyright © 2026 Memphis Area Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Completely renovated in 2022 with new roof, electrical, kitchens, baths, flooring, lighting, and paint (inside & out).
- Duplex offers flexible investment options: rent both units, live in one and rent the other, or use as an in‑law suite.
- Currently generating $800 monthly rental income from one unit (tenant pays utilities).
- Located minutes from the Cooper‑Young area.
- Features private gated parking in the back.
- Property built in 1947 with 4 bedrooms and 2 bathrooms.
Overview
This completely renovated duplex presents a unique investment opportunity, suitable for renting out both units or for use as an in-law suite. One side is currently occupied with a tenant paying $800 monthly rent, who is also responsible for utilities. The property is located minutes from the Cooper-Young area. Recent renovations in 2022 include a new roof, electrical rewiring, new kitchens and baths, new flooring, new lighting, and fresh paint inside and out. The property offers private gated parking in the back. The property size is 1475 square feet.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.9k | $12.84 |
| − Vacancy | −$1.2k | −$0.79 |
| EGI | $17.8k | $12.05 |
| − OpEx | −$5.3k | −$3.61 |
| NOI | $12.4k | $8.43 |
1,475 SF · lease $12.84/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$177.7K
$155.5K – $207.3K
NOI $12,439 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$157.3K
$137.7K – $183.6K
NOI $11,014 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$435.9K
$381.4K – $508.6K
NOI $30,515 @ 7.0% cap · market cap 15.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.981487
- Latitude
- 35.10421
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Completely renovated duplex, ideal for investors or multi-generational living.
Where is this duplex located?
The property is located at 2428 LAMAR Cir Memphis, TN.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Completely renovated in 2022 with new roof, electrical, kitchens, baths, flooring, lighting, and paint (inside & out).; Duplex offers flexible investment options: rent both units, live in one and rent the other, or use as an in‑law suite.; Currently generating $800 monthly rental income from one unit (tenant pays utilities).
