New Duplex with Modern
For Sale
$299,000
645 Kent St, Memphis, TN 38111
Planned two-unit property with contemporary finishes, low-maintenance exterior materials, and a spacious primary suite.
Property Size2,385 SF
Price / SF$125.37
Days on Market54
Property Features for 645 Kent St
General Information
Standard status
Active
Size
2,385 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2025
Buildings
1
Listing Agency:
Real Estate Agency
Listed By:
John Quinn · License #3298267
(901) 591-8100
Source:
Johnquinnrealestate
Added: Aug 26
Changed: Oct 16
Last Checked: Oct 16 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 Real Estate Agency
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Investment Insights
Based on property information with market context.
Planned for completion within 90 days, this 2,385-square-foot duplex is scheduled for construction in 2025. The interior design includes 3 bedrooms, 2 full baths, granite countertops, LVT flooring, and a low-maintenance exterior. The primary suite is described with a large bedroom, walk-in closets, a spacious bathroom, a glass shower, and a separate tub.
Located at 643 Kent St in Memphis, Tennessee, the property offers a defined duplex configuration with contemporary interior finishes. The provided floorplan is represented by model-duplex photography, while the completed property is expected to reflect the same floorplan.
Located at 643 Kent St in Memphis, Tennessee, the property offers a defined duplex configuration with contemporary interior finishes. The provided floorplan is represented by model-duplex photography, while the completed property is expected to reflect the same floorplan.
Key Highlights
- Duplex measuring 2,385 square feet
- Scheduled for completion within 90 days
- 3 bedrooms and 2 full baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,114
Cap Rate
6.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,280
$402.3K
Cap Rate 7%
$287,343
$287.3K
Cap Rate 9%
$223,489
$223.5K
Market Conditions
NOI Build-Up for 2,385 SF
Gross rent
$30.6K $12.84/SF
− Vacancy
−$1.9K −$0.79/SF
EGI
$28.7K $12.05/SF
− OpEx
−$8.6K −$3.61/SF
NOI
$20.1K $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%
$402,280
Cap Rate 7%
$287,343
Cap Rate 9%
$223,489
Alternative Uses
Best Use
Multifamily LT 5
$287.3K
$251.4K – $335.2K
NOI $20,114 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$254.4K
$222.6K – $296.8K
NOI $17,809 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$704.9K
$616.8K – $822.4K
NOI $49,341 @ 7.0% cap · market cap 16.50%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
342
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Planned two-unit property with contemporary finishes, low-maintenance exterior materials, and a spacious primary suite.
Where is this duplex located?
The property is located at 645 Kent St Memphis, TN.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Duplex measuring 2,385 square feet; Scheduled for completion within 90 days; 3 bedrooms and 2 full baths
