Tenant-Occupied
For Sale
$151,500
574-576 Mckinley St, Memphis, TN 38126
Two occupied residential units are supported by existing lease agreements and in-house professional management.
Property Size1,738 SF
Price / SF$87.17
Days on Market49
Property Features for 574-576 Mckinley St
General Information
Standard status
Active
Size
1,738 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Score (South City) Cdc
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$17,400
Building Details
Year Built
1900
Listing Agency:
Emmett Baird Realty, LLC
Listed By:
Stacia Rosatti
(901) 270-9019
Source:
Staciarosatti
Added: Sep 12
Changed: Oct 28
Last Checked: Oct 28 at 8:40AM
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 Emmett Baird Realty, LLC
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Investment Insights
Based on property information with market context.
This tenant-occupied duplex contains 1,738 square feet with a combined layout of 4 bedrooms and 2 bathrooms. The property includes two separate 2-bedroom, 1-bath units, providing a straightforward residential configuration for an income property. Built in 1900, the building is professionally managed in-house.
The units are located at 574-576 McKinley St in Memphis, Tennessee. Unit 574 is leased through 03/31/2028, while Unit 576 is leased through 09/16/2026. Showings require an accepted offer, and tenants should not be disturbed.
The units are located at 574-576 McKinley St in Memphis, Tennessee. Unit 574 is leased through 03/31/2028, while Unit 576 is leased through 09/16/2026. Showings require an accepted offer, and tenants should not be disturbed.
Key Highlights
- 1,738‑square‑foot duplex with 4 bedrooms and 2 bathrooms
- Two separate 2‑bedroom, 1‑bath units
- Unit 574 leased through 03/31/2028
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,977
Cap Rate
8.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$259,540
$259.5K
Cap Rate 7%
$185,386
$185.4K
Cap Rate 9%
$144,189
$144.2K
Market Conditions
NOI Build-Up for 1,738 SF
Gross rent
$25.2K $14.52/SF
− Vacancy
−$1.6K −$0.94/SF
EGI
$23.6K $13.58/SF
− OpEx
−$10.6K −$6.11/SF
NOI
$13.0K $7.47/SF
Area
Memphis, TN
Vacancy
6.50%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$259,540
Cap Rate 7%
$185,386
Cap Rate 9%
$144,189
Alternative Uses
Best Use
Multifamily LT 5
$209.4K
$183.2K – $244.3K
NOI $14,657 @ 7.0% cap · market cap 9.67%
Second Best
Apartment 5plus
$185.4K
$162.2K – $216.3K
NOI $12,977 @ 7.0% cap · market cap 8.57%
Theoretical Best
Office A
$513.7K
$449.5K – $599.3K
NOI $35,956 @ 7.0% cap · market cap 23.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
764
Businesses Nearby
Explore this area
Business Placement
Demographics for 38126, TN
5,717
Population
3,260
Households
1.8
Avg Household Size
32
Median Age
14%
College-Educated
82%
High-School Grad
1.9 sq mi
ZIP Area
3,009
Density / Sq Mi
$30,825
Median Household Income
$32,396
Median Earnings
$794
Median Rent
$59,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two occupied residential units are supported by existing lease agreements and in-house professional management.
Where is this duplex located?
The property is located at 574-576 Mckinley St Memphis, TN.
What is the asking price?
The asking price for this property is $151,500.
What are key features of this property?
This property features: 1,738‑square‑foot duplex with 4 bedrooms and 2 bathrooms; Two separate 2‑bedroom, 1‑bath units; Unit 574 leased through 03/31/2028
