Duplex with New
For Sale
$175,000
3654 KEARNEY Ave, Memphis, TN 38111
Duplexes, Traditional, Memphis, TN
Property Size1,536 SF
Price / SF$113.93
Days on Market51
Property Features for 3654 KEARNEY Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
Subdivision
SOUTHLAND HOMES INC RESUB
Standard status
Active
Size
1,536 SF
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
1535
Building Details
Year built
1948
Architectural style
Other
Buildings
1
Listing Agency:
Crye-Leike, Inc., REALTORS
(901) 756-8900
Listed By:
Tyler Tapley · License #296080
(901) 871-1290
Added: Sep 10
Changed: Oct 29
Last Checked: Oct 30 at 7:06AM
MLS# 10230163
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 1,536-square-foot duplex was built in 1948 and includes four bedrooms and two bathrooms across its two units. Both sides are currently rented, and the property is professionally managed. Window units provide cooling, while the large yard adds outdoor space.
A complete tear-off roof replacement was completed in August 2026. The property is located in Memphis near the University of Memphis, providing a defined nearby institutional reference point. The address is 3654 Kearney Ave, Memphis, TN 38111.
A complete tear-off roof replacement was completed in August 2026. The property is located in Memphis near the University of Memphis, providing a defined nearby institutional reference point. The address is 3654 Kearney Ave, Memphis, TN 38111.
Key Highlights
- 1,536‑square‑foot duplex built in 1948
- Two units, with both sides currently rented
- 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.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
911
Businesses Nearby
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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 leased units offer an income-producing residential property with professional management and window-unit cooling.
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: 1,536‑square‑foot duplex built in 1948; Two units, with both sides currently rented; Complete tear‑off roof replacement completed in August 2026
