New Duplex with Modern
For Sale
$299,000
643 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 Market8
Property Features for 643 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:
Marx-Bensdorf, Realtors
(901) 591-8100
Listed By:
John Quinn · License #3298267
(901) 591-8100
Source:
Johnquinnrealestate
Added: Aug 26
Changed: Sep 1
Last Checked: Sep 1 at 6:12PM
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 Marx-Bensdorf, Realtors
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 = 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
$20,114
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
6.73%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
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 - 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 643 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
