Duplex with Two Leased
For Sale
$150,000
2435 Forrest Ave, Memphis, TN 38112
Both residences are occupied by established tenants under current leases.
Property Size1,636 SF
Price / SF$91.69
Days on Market10
Property Features for 2435 Forrest Ave
General Information
Standard status
Active
Size
1,636 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1922
Buildings
1
Listing Agency:
Reedy & Company, REALTORS
Listed By:
Bradley Puckett
(901) 604-6338
Source:
Bryanrealty
Added: Sep 28
Last Checked: Oct 7 at 1:02PM
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 Reedy & Company, REALTORS
Investment Insights
Based on property information with market context.
This 1,636-square-foot duplex was built in 1922. Each of the two units is leased, and tenants have been in place for an extended period.
The property is near Broad Avenue shops and restaurants, with Overton Park and the Memphis Zoo a short drive away.
The property is near Broad Avenue shops and restaurants, with Overton Park and the Memphis Zoo a short drive away.
Key Highlights
- Two‑unit duplex with both residences leased
- 1,636 square feet
- Built in 1922
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,797
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$275,940
$275.9K
Cap Rate 7%
$197,100
$197.1K
Cap Rate 9%
$153,300
$153.3K
Market Conditions
NOI Build-Up for 1,636 SF
Gross rent
$21.0K $12.84/SF
− Vacancy
−$1.3K −$0.79/SF
EGI
$19.7K $12.05/SF
− OpEx
−$5.9K −$3.61/SF
NOI
$13.8K $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%
$275,940
Cap Rate 7%
$197,100
Cap Rate 9%
$153,300
Alternative Uses
Best Use
Multifamily LT 5
$197.1K
$172.5K – $230.0K
NOI $13,797 @ 7.0% cap · market cap 9.20%
Second Best
Apartment 5plus
$174.5K
$152.7K – $203.6K
NOI $12,216 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$483.5K
$423.1K – $564.1K
NOI $33,846 @ 7.0% cap · market cap 22.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
642
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied by established tenants under current leases.
Where is this duplex located?
The property is located at 2435 Forrest Ave Memphis, TN.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Two‑unit duplex with both residences leased; 1,636 square feet; Built in 1922
