Duplex Rental
2483 Harvard Ave, Memphis, TN 38112
For Sale
$214,900
Two-unit residential income property suited to rental operations.
Property Size1,568 SF
Price / SF$137.05
Days on Market109
Property Features for 2483 Harvard Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Listing Agency:
CrestCore Realty MphsBrokerage
Listed By:
Dean Harris
(901) 619-6170
Source:
Exprealty
Added: Jul 24
Changed: Oct 26
Last Checked: Nov 8 at 9:22AM
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 CrestCore Realty MphsBrokerage
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex provides 1,568 square feet of residential income property in Memphis, Tennessee. The two-unit configuration supports separate residential occupancy within one investment asset.
The property is located at 2483 Harvard Ave, with surrounding commerce and industry referenced in the property information.
The property is located at 2483 Harvard Ave, with surrounding commerce and industry referenced in the property information.
Key Highlights
- Duplex configuration with two residential units
- 1,568 square feet of property size
- Located at 2483 Harvard Ave in Memphis, TN
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,224
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$264,480
$264.5K
Cap Rate 7%
$188,914
$188.9K
Cap Rate 9%
$146,933
$146.9K
Market Conditions
NOI Build-Up for 1,568 SF
Gross rent
$20.1K $12.84/SF
− Vacancy
−$1.2K −$0.79/SF
EGI
$18.9K $12.05/SF
− OpEx
−$5.7K −$3.61/SF
NOI
$13.2K $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%
$264,480
Cap Rate 7%
$188,914
Cap Rate 9%
$146,933
Alternative Uses
Best Use
Multifamily LT 5
$188.9K
$165.3K – $220.4K
NOI $13,224 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$167.3K
$146.4K – $195.1K
NOI $11,708 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$463.4K
$405.5K – $540.7K
NOI $32,439 @ 7.0% cap · market cap 15.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
871
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
$206,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Memphis, TN
Properties on Market for Duplexes in Memphis
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential income property suited to rental operations.
Where is this duplex located?
The property is located at 2483 Harvard Ave Memphis, TN.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: Duplex configuration with two residential units; 1,568 square feet of property size; Located at 2483 Harvard Ave in Memphis, TN
