New
For Sale
$120,000
2452 Saratoga Ave, Memphis, TN 38114
The tenant-occupied property contains two leased units.
Property Size1,107 SF
Price / SF$108.40
Days on Market5
Property Features for 2452 Saratoga Ave
General Information
Standard status
Active
Size
1,107 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Average Monthly Rent
$700
Multifamily Units
2
Building Details
Year Built
1954
Listing Agency:
Weichert, Realtors-Benchmark
Listed By:
The Eric Crutcher Sales Team
(901) 212-2414
Source:
Doorstep-realty
Added: Oct 4
Changed: Oct 7
Last Checked: Oct 7 at 12:25PM
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 Weichert, Realtors-Benchmark
Investment Insights
Based on property information with market context.
Built in 1954, this 1,107-square-foot duplex has two units, both currently leased. The property is located at 2452 Saratoga Ave in Memphis, Tennessee.
Property access is limited to drive-by viewing; interior showings require an accepted contract. Tenants are not to be disturbed.
Property access is limited to drive-by viewing; interior showings require an accepted contract. Tenants are not to be disturbed.
Key Highlights
- Two‑unit duplex with both units leased
- 1,107 square feet of building area
- Built in 1954
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,336
Cap Rate
7.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$186,720
$186.7K
Cap Rate 7%
$133,371
$133.4K
Cap Rate 9%
$103,733
$103.7K
Market Conditions
NOI Build-Up for 1,107 SF
Gross rent
$14.2K $12.84/SF
− Vacancy
−$877 −$0.79/SF
EGI
$13.3K $12.05/SF
− OpEx
−$4.0K −$3.61/SF
NOI
$9.3K $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%
$186,720
Cap Rate 7%
$133,371
Cap Rate 9%
$103,733
Alternative Uses
Best Use
Multifamily LT 5
$133.4K
$116.7K – $155.6K
NOI $9,336 @ 7.0% cap · market cap 7.78%
Second Best
Apartment 5plus
$118.1K
$103.3K – $137.8K
NOI $8,266 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$327.2K
$286.3K – $381.7K
NOI $22,902 @ 7.0% cap · market cap 19.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
532
Businesses Nearby
Explore this area
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
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 - The tenant-occupied property contains two leased units.
Where is this duplex located?
The property is located at 2452 Saratoga Ave Memphis, TN.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: Two‑unit duplex with both units leased; 1,107 square feet of building area; Built in 1954
