Two-Unit Duplex with Detached
For Sale
$575,000
289 Kenilworth Pl, Memphis, TN 38112
Up-and-down units offer separate in-unit laundry rooms and retained appliances.
Property Size3,576 SF
Price / SF$160.79
Days on Market48
Property Features for 289 Kenilworth Pl
General Information
Standard status
Active
Size
3,576 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Site & Location
Neighborhood
Midtown Memphis Development Corp.
Units
Unit Mix
1 x 3BR/2BA, 1 x 3BR/1BA
Multifamily Units
2
Amenities
in-unit laundry
Building Details
Year Built
1920
Buildings
2
Listing Agency:
Crye-Leike, Inc., Realtors
Listed By:
The Eric Crutcher Sales Team
(901) 212-2414
Source:
Doorstep-realty
Added: Sep 13
Changed: Oct 28
Last Checked: Oct 28 at 7:57AM
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 Crye-Leike, Inc., Realtors
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Investment Insights
Based on property information with market context.
Built in 1920, this 3,576-square-foot duplex has an up-and-down configuration with two distinct living units. The lower residence includes three bedrooms and two baths, while the upper residence provides three bedrooms and one bath. Each unit has its own interior laundry room, and the existing appliances convey in as-is condition.
A detached two-car garage adds an attached apartment or office area that was most recently used as office space. The property is located at 289 Kenilworth Pl in Memphis, within a historic district setting and near Overton Park. Its residential layout, separate unit amenities, and additional garage structure create a property with multiple existing components for the next owner to evaluate.
A detached two-car garage adds an attached apartment or office area that was most recently used as office space. The property is located at 289 Kenilworth Pl in Memphis, within a historic district setting and near Overton Park. Its residential layout, separate unit amenities, and additional garage structure create a property with multiple existing components for the next owner to evaluate.
Key Highlights
- 3,576‑square‑foot duplex built in 1920
- Downstairs unit includes 3 bedrooms and 2 baths
- Upstairs unit includes 3 bedrooms and 1 bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,158
Cap Rate
5.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$603,160
$603.2K
Cap Rate 7%
$430,829
$430.8K
Cap Rate 9%
$335,089
$335.1K
Market Conditions
NOI Build-Up for 3,576 SF
Gross rent
$45.9K $12.84/SF
− Vacancy
−$2.8K −$0.79/SF
EGI
$43.1K $12.05/SF
− OpEx
−$12.9K −$3.61/SF
NOI
$30.2K $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%
$603,160
Cap Rate 7%
$430,829
Cap Rate 9%
$335,089
Alternative Uses
Best Use
Multifamily LT 5
$430.8K
$377.0K – $502.6K
NOI $30,158 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$381.5K
$333.8K – $445.0K
NOI $26,702 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$1.06M
$924.8K – $1.23M
NOI $73,980 @ 7.0% cap · market cap 12.87%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
815
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Up-and-down units offer separate in-unit laundry rooms and retained appliances.
Where is this duplex located?
The property is located at 289 Kenilworth Pl Memphis, TN.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 3,576‑square‑foot duplex built in 1920; Downstairs unit includes 3 bedrooms and 2 baths; Upstairs unit includes 3 bedrooms and 1 bath
