Building Details

Year built 1950

Listing Agency: KAIZEN Realty, LLC e***@kaizen-realty.com Show Phone

Listed By: Joshua Moss Show Phone

Added: Oct 16 Changed: Oct 17 Last Checked: Oct 18 at 3:06PM

Report an Issue

MLS# 10232561

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.

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 1,350-square-foot duplex, built in 1950, contains two units, each arranged with two bedrooms and one bathroom. Renovations include a replacement roof and windows, luxury vinyl plank flooring, fresh paint, updated lighting and ceiling fans, and new kitchen cabinetry with granite counters. The bathrooms have new vanities and updated finishes.

The property is at 3020 Waynoka Ave in Memphis, near the University of Memphis and local shopping and dining. Its two-unit configuration and matching bedroom and bathroom layouts provide a consistent setup across both residences.

Key Highlights

• Two‑unit duplex with two bedrooms and one bathroom in each residence
• 1,350 square feet; built in 1950
• Renovations include a new roof, new windows, and luxury vinyl plank flooring

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

Is this asking price fair?

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 (±1% cap)

NOI $11,385 @ 7.0% cap · market cap 5.06%

Second Best

Apartment 5plus

$144.0K

$126.0K – $168.0K (±1% cap)

NOI $10,080 @ 7.0% cap · market cap 4.48%

Theoretical Best

Office A

$399.0K

$349.1K – $465.5K (±1% cap)

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

Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage Pet Grooming Service Carpet & Flooring Store (Bike/Boat/Book/etc) Store Restaurant Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Similar For Sale Nearby

See more

Renovated Two-Unit Duplex

3054 WAYNOKA Ave, Memphis, TN 38111

$209,900

1,350 SF

View details

Duplex with Guest House

1756 CRUMP Ave, Memphis, TN 38107

$215,000

1,388 SF

View details

Renovated Duplex with Two Units

788 Brower St, Memphis, TN 38111

$194,500

1,318 SF

View details

Remodeled Furnished Duplex

217 N HOLLYWOOD St, Memphis, TN 38112

$240,000

1,230 SF

View details

Renovated Duplex with Updated Systems

2412 VOLLINTINE Ave, Memphis, TN 38108

$209,900

1,505 SF

View details

Duplex Rental Property

2483 Harvard Ave, Memphis, TN 38112

$214,900

1,568 SF

View details

Historic Duplex in Speedway Terrace

1220 Snowden Ave, Memphis, TN 38107

$215,000

1,572 SF

View details

Brick Duplex with Updated Interiors

1481 Oaklawn St, Memphis, TN 38114

$124,900

1,355 SF

View details

Duplex with Hardwood Floors

823 DICKINSON St, Memphis, TN 38107

$205,000

1,607 SF

View details

Renovated Duplex With Detached Residence

658 HILLCREST St, Memphis, TN 38112

$195,000

1,164 SF

View details

Two-Unit Duplex

1507 OAKWOOD St, Memphis, TN 38108

$119,900

1,357 SF

View details

Renovated Duplex

2428 VOLLINTINE Ave, Memphis, TN 38108

$162,000

1,224 SF

View details

Frequently Asked Questions

What type of property is this?

Duplex - Each residence has two bedrooms and one bathroom, with updated kitchens and bathrooms.

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‑unit duplex with two bedrooms and one bathroom in each residence; 1,350 square feet; built in 1950; Renovations include a new roof, new windows, and luxury vinyl plank flooring