Updated Duplex with Fenced
For Sale
$300,000
5659 Hinton Pl, Memphis, TN 38119
Two-unit residential property with one vacant, rent-ready residence.
Property Size2,496 SF
Price / SF$120.19
Days on Market73
Property Features for 5659 Hinton Pl
General Information
Standard status
Active
Size
2,496 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Amenities
fenced backyard
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
Heritage Homes Co.
(901) 848-0009
Listed By:
Chad Woelke
(901) 848-0009
Source:
Exprealty
Added: Jun 12
Changed: Aug 21
Last Checked: Aug 23 at 6:09AM
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 Heritage Homes Co.
Investment Insights
Based on property information with market context.
This 2,496-square-foot duplex contains two residences, each with 2 bedrooms and 1.5 baths. One unit is vacant and has an updated kitchen, newly painted interiors, and new bedroom carpeting. The other residence is occupied under a month-to-month tenancy, providing an existing rental arrangement with flexibility for future plans.
Both units share a fenced backyard that adds private outdoor space to the property. The duplex is located near shopping, dining, and major commuter routes in Memphis, Tennessee.
Both units share a fenced backyard that adds private outdoor space to the property. The duplex is located near shopping, dining, and major commuter routes in Memphis, Tennessee.
Key Highlights
- 2,496 SF duplex with two 2‑bedroom, 1.5‑bath units
- One vacant unit with updated kitchen, fresh interior paint, and new bedroom carpet
- Second unit occupied by a month‑to‑month tenant
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,050
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$421,000
$421.0K
Cap Rate 7%
$300,714
$300.7K
Cap Rate 9%
$233,889
$233.9K
Market Conditions
NOI Build-Up for 2,496 SF
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.
Gross rent
$32.0K $12.84/SF
− Vacancy
−$2.0K −$0.79/SF
EGI
$30.1K $12.05/SF
− OpEx
−$9.0K −$3.61/SF
NOI
$21.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$421,000
Cap Rate 7%
$300,714
Cap Rate 9%
$233,889
Alternative Uses
Best Use
Multifamily LT 5
$300.7K
$263.1K – $350.8K
NOI $21,050 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$266.2K
$233.0K – $310.6K
NOI $18,637 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$737.7K
$645.5K – $860.6K
NOI $51,637 @ 7.0% cap · market cap 17.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
274
Businesses Nearby
Explore this area
Business Placement
Demographics for 38119, TN
23,997
Population
10,521
Households
2.3
Avg Household Size
39
Median Age
53%
College-Educated
96%
High-School Grad
8.8 sq mi
ZIP Area
2,727
Density / Sq Mi
$86,325
Median Household Income
$53,068
Median Earnings
$1,336
Median Rent
$279,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with one vacant, rent-ready residence.
Where is this duplex located?
The property is located at 5659 Hinton Pl Memphis, TN.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 2,496 SF duplex with two 2‑bedroom, 1.5‑bath units; One vacant unit with updated kitchen, fresh interior paint, and new bedroom carpet; Second unit occupied by a month‑to‑month tenant
