2-Unit Duplex with Updated
New
For Sale
$165,000
3113 Yale Ave, Memphis, TN 38112
Both residences are occupied under separate lease arrangements.
Property Size1,620 SF
Price / SF$101.85
Days on Market2
Property Features for 3113 Yale Ave
General Information
Standard status
Active
Size
1,620 SF
Property subtype
Multi-Family
Occupancy
100%
Financials
Gross Income
$19,800
Average Monthly Rent
$825
Additional Details
Multifamily Units
2
Amenities
central heating and cooling
Building Details
Year Built
1960
Buildings
1
Tenancy
Multi
Listing Agency:
Weichert, Realtors-Benchmark
Listed By:
The Eric Crutcher Sales Team
(901) 212-2414
Source:
Doorstep-realty
Added: Oct 7
Last Checked: Oct 7 at 11:27AM
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 Weichert, Realtors-Benchmark
Investment Insights
Based on property information with market context.
This 1,620-square-foot duplex contains two residences with a combined four bedrooms and two bathrooms. Built in 1960, the property has refreshed kitchens, durable flooring, updated interiors, and central heating and cooling in both units.
Both units are occupied. One lease is month-to-month, while the other runs through May 2027. Sam Cooper Boulevard, Tillman, and Broad Avenue are nearby.
Both units are occupied. One lease is month-to-month, while the other runs through May 2027. Sam Cooper Boulevard, Tillman, and Broad Avenue are nearby.
Key Highlights
- Two‑unit duplex with 1,620 square feet
- Combined total of 4 bedrooms and 2 bathrooms
- Updated interiors, refreshed kitchens, and durable flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,662
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$273,240
$273.2K
Cap Rate 7%
$195,171
$195.2K
Cap Rate 9%
$151,800
$151.8K
Market Conditions
NOI Build-Up for 1,620 SF
Gross rent
$20.8K $12.84/SF
− Vacancy
−$1.3K −$0.79/SF
EGI
$19.5K $12.05/SF
− OpEx
−$5.9K −$3.61/SF
NOI
$13.7K $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%
$273,240
Cap Rate 7%
$195,171
Cap Rate 9%
$151,800
Alternative Uses
Best Use
Multifamily LT 5
$195.2K
$170.8K – $227.7K
NOI $13,662 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$172.8K
$151.2K – $201.6K
NOI $12,096 @ 7.0% cap · market cap 7.33%
Theoretical Best
Office A
$478.8K
$418.9K – $558.6K
NOI $33,515 @ 7.0% cap · market cap 20.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
716
Businesses Nearby
Explore this area
Business Placement
Demographics for 38112, TN
16,970
Population
7,425
Households
2.3
Avg Household Size
32
Median Age
38%
College-Educated
85%
High-School Grad
4.8 sq mi
ZIP Area
3,535
Density / Sq Mi
$52,639
Median Household Income
$29,576
Median Earnings
$969
Median Rent
$206,900
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
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied under separate lease arrangements.
Where is this duplex located?
The property is located at 3113 Yale Ave Memphis, TN.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,620 square feet; Combined total of 4 bedrooms and 2 bathrooms; Updated interiors, refreshed kitchens, and durable flooring
