Remodeled Duplex with Furnished
For Sale
$259,000
2552 EVERETT Ave, Memphis, TN 38112
Duplexes, Traditional, Memphis, TN
Property Size1,680 SF
Price / SF$154.17
Days on Market133
Property Features for 2552 EVERETT Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 2
Subdivision
BINGHAMPTON BLK 37
Standard status
Active
Size
1,680 SF
Taxes and HOA fees
Tax Annual Amount
1259
Building Details
Year built
1969
Architectural style
Other
Listing Agency:
Fast Track Realty, LLC
(901) 767-8770
Listed By:
Cesar Lara
(901) 246-5634
Added: Apr 25
Changed: Sep 3
Last Checked: Sep 4 at 2:06AM
MLS# 10220195
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 1,680-square-foot duplex, built in 1969, has been fully remodeled with contemporary finishes throughout. Both residences were furnished and operated as Airbnb rentals, providing a documented short-term rental configuration. The two-unit layout also supports an owner-occupied arrangement with separate rental space or continued use as a residential income property.
The property is located in Memphis, TN 38112, near Midtown, Overton Park, the Memphis Zoo, restaurants, and shopping. Its existing furnishings and updated condition allow for immediate use without requiring a renovation program. The residence includes four bedrooms and two bathrooms overall, offering a practical configuration for continued rental operations or separate household occupancy.
The property is located in Memphis, TN 38112, near Midtown, Overton Park, the Memphis Zoo, restaurants, and shopping. Its existing furnishings and updated condition allow for immediate use without requiring a renovation program. The residence includes four bedrooms and two bathrooms overall, offering a practical configuration for continued rental operations or separate household occupancy.
Key Highlights
- 1,680 SF duplex in Memphis, TN 38112
- Fully remodeled with contemporary interior finishes
- Both units were furnished and operated as Airbnb rentals
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,168
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.47%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$283,360
$283.4K
Cap Rate 7%
$202,400
$202.4K
Cap Rate 9%
$157,422
$157.4K
Market Conditions
NOI Build-Up for 1,680 SF
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.
Gross rent
$21.6K $12.84/SF
− Vacancy
−$1.3K −$0.79/SF
EGI
$20.2K $12.05/SF
− OpEx
−$6.1K −$3.61/SF
NOI
$14.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$283,360
Cap Rate 7%
$202,400
Cap Rate 9%
$157,422
Alternative Uses
Best Use
Multifamily LT 5
$202.4K
$177.1K – $236.1K
NOI $14,168 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$179.2K
$156.8K – $209.1K
NOI $12,544 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$496.5K
$434.5K – $579.3K
NOI $34,756 @ 7.0% cap · market cap 13.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,033
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with updated interiors and established short-term rental use.
Where is this duplex located?
The property is located at 2552 EVERETT Ave Memphis, TN.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: 1,680 SF duplex in Memphis, TN 38112; Fully remodeled with contemporary interior finishes; Both units were furnished and operated as Airbnb rentals
