Renovated Two-Unit
New
For Sale
$224,900
3020 Waynoka Ave, Memphis, TN 38111
Both residences offer matching two-bedroom layouts with updated kitchens, bathrooms, flooring, windows, and fixtures.
Property Size1,350 SF
Price / SF$166.59
Days on Market2
Property Features for 3020 Waynoka Ave
General Information
Standard status
Active
Size
1,350 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1950
Buildings
1
Listing Agency:
Emmett Baird Realty, LLC
Listed By:
Stacia Rosatti
(901) 270-9019
Source:
Staciarosatti
Added: Oct 19
Last Checked: Oct 19 at 2:26PM
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 Emmett Baird Realty, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex contains two units, each with 2 bedrooms and 1 bathroom, within 1,350 square feet. Built in 1950, the property has undergone extensive renovation, including a new roof and windows, luxury vinyl plank flooring, fresh paint, updated lighting and ceiling fans, and kitchen cabinets topped with granite. Bathrooms have new vanities and contemporary finishes.
At 3020 Waynoka Ave in Memphis, the property is near the University of Memphis, shopping, dining, and campus amenities.
At 3020 Waynoka Ave in Memphis, the property is near the University of Memphis, shopping, dining, and campus amenities.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 1,350 square feet; built in 1950
- Renovations include a new roof, windows, flooring, kitchen cabinets, granite countertops, and bathroom vanities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,385
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,700
$227.7K
Cap Rate 7%
$162,643
$162.6K
Cap Rate 9%
$126,500
$126.5K
Market Conditions
NOI Build-Up for 1,350 SF
Gross rent
$17.3K $12.84/SF
− Vacancy
−$1.1K −$0.79/SF
EGI
$16.3K $12.05/SF
− OpEx
−$4.9K −$3.61/SF
NOI
$11.4K $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%
$227,700
Cap Rate 7%
$162,643
Cap Rate 9%
$126,500
Alternative Uses
Best Use
Multifamily LT 5
$162.6K
$142.3K – $189.8K
NOI $11,385 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$144.0K
$126.0K – $168.0K
NOI $10,080 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$399.0K
$349.1K – $465.5K
NOI $27,929 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
799
Businesses Nearby
Explore this area
Business Placement
Demographics for 38111, TN
40,533
Population
20,084
Households
2
Avg Household Size
34
Median Age
38%
College-Educated
89%
High-School Grad
9.8 sq mi
ZIP Area
4,136
Density / Sq Mi
$52,806
Median Household Income
$33,449
Median Earnings
$1,077
Median Rent
$165,200
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
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer matching two-bedroom layouts with updated kitchens, bathrooms, flooring, windows, and fixtures.
Where is this duplex located?
The property is located at 3020 Waynoka Ave Memphis, TN.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; 1,350 square feet; built in 1950; Renovations include a new roof, windows, flooring, kitchen cabinets, granite countertops, and bathroom vanities
