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    Tenant-Occupied Duplex For Sale

    3038-3040 SINCLAIR St Memphis, TN 38127

    3038-3040 SINCLAIR St, Memphis, TN, 38127
    $125,000
    For Sale
    Claim this Listing
    $125,000

    MULTI_FAMILY - Memphis, TN

    Property Size1,375 SF
    Price / SF$90.91
    AddedJun 22
    Days on Market24
    Last RefreshJul 15 at 8:06 pm

    Property Features for 3038-3040 SINCLAIR St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bedroom 3, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 4
    Standard status
    Active
    Size
    1,375 SF

    Taxes and HOA fees

    Tax Annual Amount
    1414

    Building Details

    Year built
    1961
    Architectural style
    Other

    Listing agent Joshua Cooper

    Listing office Sowell, Realtors 54 S Cooper St, Memphis, TN

    Listing date Jun 22, 2026

    MLS# 10224519 Listing URL

    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 for-sale duplex includes two units, each configured as 2 bedrooms and 1 bathroom. 3038 Sinclair is currently tenant occupied and listed as leased through July 26, 2026. 3040 Sinclair is vacant and ready for a new tenant.

    The property is located at 3038-3040 Sinclair St in Memphis, Tennessee, in Shelby County.

    Both units are part of the same duplex, with one occupied and one available for showing.

    Key Highlights

    • Duplex built in 1961 with two 2 bed/1 bath units
    • 3038 Sinclair is tenant occupied at $725/mo through July 26, 2026
    • 3040 Sinclair is vacant and ready to show for a new tenant

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $16.7k $12.12
    − Vacancy −$1.0k −$0.75
    EGI $15.6k $11.37
    − OpEx −$4.7k −$3.41
    NOI $10.9k $7.96
    1,375 SF · lease $12.12/SF/yr · vacancy 6.17% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $156.4K
    $136.8K – $182.4K (±1% cap)
    NOI $10,946 @ 7.0% cap · market cap 8.76%
    Second Best
    Apartment 5plus
    $139.4K
    $122.0K – $162.6K (±1% cap)
    NOI $9,758 @ 7.0% cap · market cap 7.81%
    Theoretical Best
    Office A
    $364.9K
    $319.3K – $425.7K (±1% cap)
    NOI $25,542 @ 7.0% cap · market cap 20.43%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Hair Salon HVAC Service Nail Salon Building Supply Parking Lot & Garage Storage Facility Dental Office Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Duplex - Duplex with two 2-bed, 1-bath units, including one tenant-occupied through July 26, 2026.
    Where is this duplex located?
    The property is located at 3038-3040 SINCLAIR St Memphis, TN.
    What is the asking price?
    The asking price for this property is $125,000.
    What are key features of this property?
    This property features: Duplex built in 1961 with two 2 bed/1 bath units; 3038 Sinclair is tenant occupied at $725/mo through July 26, 2026; 3040 Sinclair is vacant and ready to show for a new tenant
    Contact an agent
    (901) 871-1204
    We can help!
    Contact an agent
    Joshua Cooper
    Joshua Cooper
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