Tenant-Occupied
For Sale
$175,000
3654 Kearney Ave, Memphis, TN 38111
Professionally managed duplex with both units leased and window air-conditioning units.
Property Size1,536 SF
Price / SF$113.93
Days on Market50
Property Features for 3654 Kearney Ave
General Information
Standard status
Active
Size
1,536 SF
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Neighborhood
University Neighborhoods Development Corp.
Additional Details
Average Monthly Rent
$850
Multifamily Units
2
Building Details
Year Built
1948
Buildings
1
Listing Agency:
Cordova Realty, Inc
Listed By:
The Eric Crutcher Sales Team
(901) 212-2414
Source:
Doorstep-realty
Added: Sep 12
Changed: Oct 30
Last Checked: Oct 30 at 1:37PM
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 Cordova Realty, Inc
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Investment Insights
Based on property information with market context.
This 1,536-square-foot duplex was built in 1948 and includes two residential units, both of which are currently leased. The property is professionally managed and features window units for air conditioning. A complete tear-off roof replacement was completed in August 2026.
Located at 3654 Kearney Ave in Memphis, the property has a large yard and is close to the University of Memphis. Tenant privacy applies, and there is no sign in the yard.
Located at 3654 Kearney Ave in Memphis, the property has a large yard and is close to the University of Memphis. Tenant privacy applies, and there is no sign in the yard.
Key Highlights
- Two‑unit duplex with both sides currently leased
- 1,536 SF property built in 1948
- Complete tear‑off roof replacement completed in August 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,954
Cap Rate
7.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$259,080
$259.1K
Cap Rate 7%
$185,057
$185.1K
Cap Rate 9%
$143,933
$143.9K
Market Conditions
NOI Build-Up for 1,536 SF
Gross rent
$19.7K $12.84/SF
− Vacancy
−$1.2K −$0.79/SF
EGI
$18.5K $12.05/SF
− OpEx
−$5.6K −$3.61/SF
NOI
$13.0K $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%
$259,080
Cap Rate 7%
$185,057
Cap Rate 9%
$143,933
Alternative Uses
Best Use
Multifamily LT 5
$185.1K
$161.9K – $215.9K
NOI $12,954 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$163.8K
$143.4K – $191.2K
NOI $11,469 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$454.0K
$397.2K – $529.6K
NOI $31,777 @ 7.0% cap · market cap 18.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
911
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 - Professionally managed duplex with both units leased and window air-conditioning units.
Where is this duplex located?
The property is located at 3654 Kearney Ave Memphis, TN.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two‑unit duplex with both sides currently leased; 1,536 SF property built in 1948; Complete tear‑off roof replacement completed in August 2026
