2-Unit New Construction
For Sale
$269,900
Pending
3074 Waynoka Ave, Memphis, TN 38111
Newly built income property with modern finishes in both two-bedroom, one-bath residences.
Property Size1,738 SF
Days on Market54
Property Features for 3074 Waynoka Ave
General Information
Standard status
Pending
Size
1,738 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Crye-Leike, Inc., Realtors
Listed By:
John Quinn · License #3298267
(901) 591-8100
Source:
Johnquinnrealestate
Added: Aug 16
Changed: Oct 7
Last Checked: Oct 7 at 11:53AM
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
Investment Insights
Based on property information with market context.
Located at 3074 Waynoka Ave in Memphis, this newly constructed duplex contains two separate residences, each configured with two bedrooms and one bathroom. Both units feature LVP flooring, granite countertops, and contemporary bathroom vanities, creating a consistent finish package throughout the property.
The two-unit layout supports a range of ownership strategies, including investment use or an owner-occupant arrangement. Each side offers the same bedroom and bathroom configuration, making the property straightforward to evaluate and manage as a residential income asset.
The two-unit layout supports a range of ownership strategies, including investment use or an owner-occupant arrangement. Each side offers the same bedroom and bathroom configuration, making the property straightforward to evaluate and manage as a residential income asset.
Key Highlights
- New construction duplex at 3074 Waynoka Ave, Memphis, TN
- Two units, each with 2 bedrooms and 1 bathroom
- LVP flooring installed throughout both residences
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.
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
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Frequently Asked Questions
What type of property is this?
Duplex - Newly built income property with modern finishes in both two-bedroom, one-bath residences.
Where is this duplex located?
The property is located at 3074 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: New construction duplex at 3074 Waynoka Ave, Memphis, TN; Two units, each with 2 bedrooms and 1 bathroom; LVP flooring installed throughout both residences
