Renovated Duplex Near
2428 LAMAR Cir Memphis, TN 38114
2428 LAMAR Cir, Memphis, TN, 38114
$200,000
For Sale
$200,000
MULTI_FAMILY - Memphis, TN
Property Size1,475 SF
Price / SF$135.59
Days on Market122
Property Features for 2428 LAMAR Cir
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 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 Agency
KAIZEN Realty, LLC
(901) 221-4041
7540 North Street, Germantown, TN
Listed by
LaJuana Miller
(901) 483-1393
Added: Mar 21 Checked: Jul 20 at 9:06 am
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.
Investment Insights
Based on property information with market context.
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.
Key Highlights
- Completely renovated duplex built in 1947, offering two rental sides with option to live in one and rent the other
- 2022 renovation: new roof, electrical rewiring, new kitchens, new baths, new flooring, new lighting, and fresh interior/exterior paint
- Current side occupied at $800 monthly rent; tenant pays utilities
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 Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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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 duplex built in 1947, offering two rental sides with option to live in one and rent the other; 2022 renovation: new roof, electrical rewiring, new kitchens, new baths, new flooring, new lighting, and fresh interior/exterior paint; Current side occupied at $800 monthly rent; tenant pays utilities
