Duplex with Furnished Rental
For Sale
$220,000
Pending
69 Eastview Dr, Memphis, TN 38111
Separate living areas support rental, owner-occupancy, or a combination of both.
Property Size1,739 SF
Days on Market48
Property Features for 69 Eastview Dr
General Information
Standard status
Pending
Size
1,739 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Binghampton Development Corp.
Additional Details
Multifamily Units
2
Building Details
Year Built
1948
Buildings
1
Listing Agency:
Crye-Leike, Inc., Realtors
Listed By:
Stacia Rosatti
(901) 270-9019
Source:
Staciarosatti
Added: Sep 14
Changed: Oct 31
Last Checked: Oct 30 at 2:23PM
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 Crye-Leike, Inc., Realtors
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Investment Insights
Based on property information with market context.
Built as a duplex, this property provides two distinct living areas with a combined layout of 4 bedrooms and 2 baths. The 1,739-square-foot residence was constructed in 1948, and one unit is furnished for short-term rental use. The configuration also accommodates continued rental operations, owner occupancy, or a blended arrangement.
Located near Walnut Grove, the property offers access to Midtown, East Memphis, shopping, dining, and major roadways. Its established residential setting and dual-unit design provide a practical format for buyers considering rental use or a live-in arrangement.
Located near Walnut Grove, the property offers access to Midtown, East Memphis, shopping, dining, and major roadways. Its established residential setting and dual-unit design provide a practical format for buyers considering rental use or a live-in arrangement.
Key Highlights
- Built‑as duplex with two separate living spaces
- 4 bedrooms and 2 baths across 1,739 SF
- One unit furnished for short‑term rental use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,666
Cap Rate
6.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$293,320
$293.3K
Cap Rate 7%
$209,514
$209.5K
Cap Rate 9%
$162,956
$163.0K
Market Conditions
NOI Build-Up for 1,739 SF
Gross rent
$22.3K $12.84/SF
− Vacancy
−$1.4K −$0.79/SF
EGI
$21.0K $12.05/SF
− OpEx
−$6.3K −$3.61/SF
NOI
$14.7K $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%
$293,320
Cap Rate 7%
$209,514
Cap Rate 9%
$162,956
Alternative Uses
Best Use
Multifamily LT 5
$209.5K
$183.3K – $244.4K
NOI $14,666 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$185.5K
$162.3K – $216.4K
NOI $12,985 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$513.9K
$449.7K – $599.6K
NOI $35,976 @ 7.0% cap · market cap 16.35%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,197
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Separate living areas support rental, owner-occupancy, or a combination of both.
Where is this duplex located?
The property is located at 69 Eastview Dr Memphis, TN.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Built‑as duplex with two separate living spaces; 4 bedrooms and 2 baths across 1,739 SF; One unit furnished for short‑term rental use
