Two-Unit Duplex with Private
New
For Sale
$370,000
699 S Barksdale St, Memphis, TN 38104
Both residences offer two bedrooms, one bathroom, in-unit laundry, and central heating and air conditioning.
Property Size2,179 SF
Price / SF$169.80
Days on Market7
Property Features for 699 S Barksdale St
General Information
Standard status
Active
Size
2,179 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
private backyards
central heat and air
washer/dryer in each unit
Building Details
Year Built
1927
Buildings
1
Tenancy
Multi
Listing Agency:
Crye-Leike, Inc., Realtors
Listed By:
The Eric Crutcher Sales Team
(901) 212-2414
Source:
Doorstep-realty
Added: Sep 9
Changed: Sep 14
Last Checked: Sep 14 at 9:30AM
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
Investment Insights
Based on property information with market context.
This 2,179-square-foot duplex, constructed in 1927, contains two residences with matching two-bedroom, one-bath layouts. Each unit includes a private backyard, central heat and air, and its own washer and dryer. Both sides are currently leased, providing an existing occupied configuration.
The tenancy is split between a lease extending through August 2027 and a month-to-month arrangement, which supports potential owner occupancy subject to the applicable lease terms. Property access is restricted and cannot occur without a negotiated contract.
The tenancy is split between a lease extending through August 2027 and a month-to-month arrangement, which supports potential owner occupancy subject to the applicable lease terms. Property access is restricted and cannot occur without a negotiated contract.
Key Highlights
- 2,179‑square‑foot duplex built in 1927
- Two units, each with 2 bedrooms and 1 bath
- Private backyard provided for each residence
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
$18,376
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
4.97%
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%
$367,520
$367.5K
Cap Rate 7%
$262,514
$262.5K
Cap Rate 9%
$204,178
$204.2K
Market Conditions
NOI Build-Up for 2,179 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
$28.0K $12.84/SF
− Vacancy
−$1.7K −$0.79/SF
EGI
$26.3K $12.05/SF
− OpEx
−$7.9K −$3.61/SF
NOI
$18.4K $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%
$367,520
Cap Rate 7%
$262,514
Cap Rate 9%
$204,178
Alternative Uses
Best Use
Multifamily LT 5
$262.5K
$229.7K – $306.3K
NOI $18,376 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$232.4K
$203.4K – $271.2K
NOI $16,270 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$644.0K
$563.5K – $751.3K
NOI $45,079 @ 7.0% cap · market cap 12.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
827
Businesses Nearby
Explore this area
Business Placement
Demographics for 38104, TN
22,584
Population
14,315
Households
1.6
Avg Household Size
38
Median Age
52%
College-Educated
93%
High-School Grad
5.0 sq mi
ZIP Area
4,517
Density / Sq Mi
$56,452
Median Household Income
$48,300
Median Earnings
$1,073
Median Rent
$301,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer two bedrooms, one bathroom, in-unit laundry, and central heating and air conditioning.
Where is this duplex located?
The property is located at 699 S Barksdale St Memphis, TN.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: 2,179‑square‑foot duplex built in 1927; Two units, each with 2 bedrooms and 1 bath; Private backyard provided for each residence
