Renovated Duplex with Central
New
For Sale
$385,000
6436 Oak Park Dr, Memphis, TN 38134
Two updated units feature built-in appliances and central heating and air conditioning.
Property Size2,312 SF
Price / SF$166.52
Days on Market3
Property Features for 6436 Oak Park Dr
General Information
Standard status
Active
Size
2,312 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
built-in appliances
central air conditioning
central heat
Building Details
Year Built
1974
Buildings
1
Listing Agency:
Cb Properties Of Memphis, LLC
Listed By:
Stacia Rosatti
(901) 270-9019
Source:
Staciarosatti
Added: Sep 6
Changed: Sep 7
Last Checked: Sep 8 at 5:19AM
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 Cb Properties Of Memphis, LLC
Investment Insights
Based on property information with market context.
This duplex contains 2,312 square feet and was updated and renovated within the past two years. Both units include built-in appliances, central air conditioning, and central heat. Major systems are reported to be in good condition. Constructed in 1974, the property is tenant occupied and offers two residential units within a single investment asset.
The property is located at 6436 Oak Park Dr in Memphis, near I-40 and just north of Shelby Farms. Shopping, dining, parks, schools, entertainment, and other urban amenities are approximately 5–10 minutes away. Showings require an appointment with at least 48 hours’ notice, and proof of funds is required before scheduling.
The property is located at 6436 Oak Park Dr in Memphis, near I-40 and just north of Shelby Farms. Shopping, dining, parks, schools, entertainment, and other urban amenities are approximately 5–10 minutes away. Showings require an appointment with at least 48 hours’ notice, and proof of funds is required before scheduling.
Key Highlights
- 2,312‑square‑foot duplex with two residential units
- Updated and renovated within the past two years
- Built‑in appliances in both units
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
$19,498
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
5.06%
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%
$389,960
$390.0K
Cap Rate 7%
$278,543
$278.5K
Cap Rate 9%
$216,644
$216.6K
Market Conditions
NOI Build-Up for 2,312 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
$29.7K $12.84/SF
− Vacancy
−$1.8K −$0.79/SF
EGI
$27.9K $12.05/SF
− OpEx
−$8.4K −$3.61/SF
NOI
$19.5K $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%
$389,960
Cap Rate 7%
$278,543
Cap Rate 9%
$216,644
Alternative Uses
Best Use
Multifamily LT 5
$278.5K
$243.7K – $325.0K
NOI $19,498 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$246.6K
$215.8K – $287.7K
NOI $17,263 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$683.3K
$597.9K – $797.2K
NOI $47,831 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
Explore this area
Business Placement
Demographics for 38134, TN
41,760
Population
15,685
Households
2.7
Avg Household Size
35
Median Age
21%
College-Educated
86%
High-School Grad
18.6 sq mi
ZIP Area
2,245
Density / Sq Mi
$61,172
Median Household Income
$39,185
Median Earnings
$1,147
Median Rent
$184,400
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 updated units feature built-in appliances and central heating and air conditioning.
Where is this duplex located?
The property is located at 6436 Oak Park Dr Memphis, TN.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 2,312‑square‑foot duplex with two residential units; Updated and renovated within the past two years; Built‑in appliances in both units
