New Construction
New
For Sale
$269,900
3025 WAYNOKA Ave, Memphis, TN 38111
Duplexes, Memphis, TN
Property Size1,738 SF
Price / SF$155.29
Days on Market3
Property Features for 3025 WAYNOKA Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 2
Subdivision
EAST COVE
Standard status
Active
Size
1,738 SF
Taxes and HOA fees
Tax Annual Amount
74
Building Details
Year built
2026
Listing Agency:
KAIZEN Realty, LLC
(901) 221-4041
Listed By:
Joshua Moss
(901) 590-8636
Added: Oct 16
Changed: Oct 17
Last Checked: Oct 18 at 11:06PM
MLS# 10232559
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.
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Investment Insights
Based on property information with market context.
This duplex is under construction and contains two units, each with 2 bedrooms and 1 bathroom. The residences feature LVP flooring, granite countertops, and selected bathroom vanities. The property totals 1,738 square feet and is listed with a 2026 year built.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 1,738 square feet total
- Under construction; year built 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,657
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$293,140
$293.1K
Cap Rate 7%
$209,386
$209.4K
Cap Rate 9%
$162,856
$162.9K
Market Conditions
NOI Build-Up for 1,738 SF
Gross rent
$22.3K $12.84/SF
− Vacancy
−$1.4K −$0.79/SF
EGI
$20.9K $12.05/SF
− OpEx
−$6.3K −$3.61/SF
NOI
$14.7K $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%
$293,140
Cap Rate 7%
$209,386
Cap Rate 9%
$162,856
Alternative Uses
Best Use
Multifamily LT 5
$209.4K
$183.2K – $244.3K
NOI $14,657 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$185.4K
$162.2K – $216.3K
NOI $12,977 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$513.7K
$449.5K – $599.3K
NOI $35,956 @ 7.0% cap · market cap 13.32%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two matching residences offer a two-bedroom, one-bathroom layout with LVP flooring and granite countertops.
Where is this duplex located?
The property is located at 3025 WAYNOKA Ave Memphis, TN.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; 1,738 square feet total; Under construction; year built 2026
