Updated Duplex with Fenced
38 N HOLMES St Memphis, TN 38111
38 N HOLMES St, Memphis, TN, 38111
$249,900
For Sale
$249,900
MULTI_FAMILY - Memphis, TN
Property Size1,843 SF
Price / SF$135.59
Days on Market62
Property Features for 38 N HOLMES St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 4
- Standard status
- Active
- Size
- 1,843 SF
Taxes and HOA fees
- Tax Annual Amount
- 1404
Building Details
- Year built
- 1953
- Architectural style
- Other
Listing Agency
Hobson, REALTORS
(901) 761-1622
5384 Poplar Ave, Ste 250, Memphis, TN
Listed by
Stephanie Bennett
(901) 558-8502
Added: May 20 Updated: Jul 19 at 8:37 am Checked: Jul 20 at 3:06 pm
MLS# 10222027
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.
For sale at 38 N Holmes St in Memphis, this updated duplex features two separate living units, with each side offering 2 bedrooms and 1 bathroom. The property includes comfortable, large living spaces and has been maintained with recent improvements, including new windows throughout. The roof and HVAC system are approximately 5 years old, supporting a more manageable maintenance profile.
Outside, the property offers a large fenced yard, providing usable outdoor space for occupants. The duplex has operated successfully as both a regularly booked short-term rental (Airbnb) and a long-term rental, demonstrating flexibility in day-to-day management.
Per the seller’s information, both sides have been rented for approximately $1,500–$1,700 per month per side. Monthly income flow and financial reports are available upon request.
Outside, the property offers a large fenced yard, providing usable outdoor space for occupants. The duplex has operated successfully as both a regularly booked short-term rental (Airbnb) and a long-term rental, demonstrating flexibility in day-to-day management.
Per the seller’s information, both sides have been rented for approximately $1,500–$1,700 per month per side. Monthly income flow and financial reports are available upon request.
Key Highlights
- Duplex built in 1953 in East Memphis with 2 units
- Each side offers 2 bedrooms and 1 bathroom
- Both sides have been rented for approximately $1,500–$1,700 per month per side
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 | $23.7k | $12.84 |
| − Vacancy | −$1.5k | −$0.79 |
| EGI | $22.2k | $12.05 |
| − OpEx | −$6.7k | −$3.61 |
| NOI | $15.5k | $8.43 |
1,843 SF · lease $12.84/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$222.0K
$194.3K – $259.1K
NOI $15,543 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$196.6K
$172.0K – $229.4K
NOI $13,762 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$544.7K
$476.6K – $635.5K
NOI $38,128 @ 7.0% cap · market cap 15.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Duplex in East Memphis offering two 2-bedroom, 1-bath units, newer roof and HVAC, plus a large fenced yard.
Where is this duplex located?
The property is located at 38 N HOLMES St Memphis, TN.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Duplex built in 1953 in East Memphis with 2 units; Each side offers 2 bedrooms and 1 bathroom; Both sides have been rented for approximately $1,500–$1,700 per month per side
