East Memphis Duplex Investment
38 N HOLMES St, Memphis, TN 38111
- Added:
- May 20, 2026
- Days on Market:
- 15
- Last Refresh:
- Jun 3 at 9:06 am
Property Features for 38 N HOLMES St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 2
- Standard status
- Active
- Size
- 1,843 SF
Taxes and HOA fees
- Tax Annual Amount
- 1404
Building Details
- Year built
- 1953
- Architectural style
- Other
Listing agent Stephanie Bennett (901) 558-8502
Listing office Hobson, REALTORS 5384 Poplar Ave, Ste 250, Memphis, TN (901) 761-1622
Listing date May 20, 2026
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.
HighLights
- Lucrative cash‑flowing duplex in East Memphis, a fantastic investment.
- Versatile property operated as Airbnb and long‑term rental.
- Each side features 2 bedrooms and 1 bathroom with large living spaces.
- Beautifully updated and meticulously maintained.
- Roof and HVAC system are approximately 5 years old.
- New windows throughout.
Overview
This duplex in East Memphis presents an investment opportunity with each side featuring 2 bedrooms and 1 bathroom. The property offers comfortable and large living spaces and has been updated and maintained. The roof and HVAC system are approximately 5 years old, and new windows have been installed throughout. A large fenced yard provides space for outdoor activities. The property has been used as both a regularly booked Airbnb and a long-term rental, demonstrating its flexibility and income potential. The property size is 1843 square feet.
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 5.87%
Second Best
Apartment 5plus
$196.6K
$172.0K – $229.4K
NOI $13,762 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$544.7K
$476.6K – $635.5K
NOI $38,128 @ 7.0% cap · market cap 14.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.952599
- Latitude
- 35.132792
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Cash-flowing duplex in East Memphis with updated features and income potential.
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 $265,000.
What are key features of this property?
This property features: Lucrative cash‑flowing duplex in East Memphis, a fantastic investment.; Versatile property operated as Airbnb and long‑term rental.; Each side features 2 bedrooms and 1 bathroom with large living spaces.
