Duplex with Hardwood
For Sale
$300,000
703 N Evergreen St, Memphis, TN 38107
Two residential units offer spacious bedrooms, large living areas, hardwood flooring, and abundant natural light.
Property Size3,469 SF
Price / SF$86.48
Days on Market100
Property Features for 703 N Evergreen St
General Information
Standard status
Active
Size
3,469 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1925
Buildings
1
Listing Agency:
Keller Williams
Listed By:
Regi Stevenson
(901) 261-7900
Source:
Bryanrealty
Added: Jul 11
Changed: Oct 9
Last Checked: Oct 7 at 5:12PM
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 Keller Williams
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Investment Insights
Based on property information with market context.
This duplex at 703 N Evergreen St includes two residential units with spacious bedrooms, generous living areas, hardwood flooring, and abundant natural light. Classic architectural character adds to the property’s established residential appeal, while the 3,469 property size provides substantial space across the improvements.
The property is in Memphis, TN, minutes from Downtown, Crosstown Concourse, Overton Park, Rhodes College, dining, shopping, and entertainment. Its central setting places residents near a broad range of established destinations and services.
The property is in Memphis, TN, minutes from Downtown, Crosstown Concourse, Overton Park, Rhodes College, dining, shopping, and entertainment. Its central setting places residents near a broad range of established destinations and services.
Key Highlights
- Two‑unit duplex at 703 N Evergreen St, Memphis, TN
- 3,469 property size
- Spacious bedrooms and large living areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,903
Cap Rate
8.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$518,060
$518.1K
Cap Rate 7%
$370,043
$370.0K
Cap Rate 9%
$287,811
$287.8K
Market Conditions
NOI Build-Up for 3,469 SF
Gross rent
$50.4K $14.52/SF
− Vacancy
−$3.3K −$0.94/SF
EGI
$47.1K $13.58/SF
− OpEx
−$21.2K −$6.11/SF
NOI
$25.9K $7.47/SF
Area
Memphis, TN
Vacancy
6.50%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$518,060
Cap Rate 7%
$370,043
Cap Rate 9%
$287,811
Alternative Uses
Best Use
Multifamily LT 5
$417.9K
$365.7K – $487.6K
NOI $29,256 @ 7.0% cap · market cap 9.75%
Second Best
Apartment 5plus
$370.0K
$323.8K – $431.7K
NOI $25,903 @ 7.0% cap · market cap 8.63%
Theoretical Best
Office A
$1.03M
$897.1K – $1.20M
NOI $71,767 @ 7.0% cap · market cap 23.92%
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
382
Businesses Nearby
Explore this area
Business Placement
Demographics for 38107, TN
15,655
Population
8,093
Households
1.9
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
5.4 sq mi
ZIP Area
2,899
Density / Sq Mi
$36,393
Median Household Income
$34,958
Median Earnings
$999
Median Rent
$128,600
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 - Two residential units offer spacious bedrooms, large living areas, hardwood flooring, and abundant natural light.
Where is this duplex located?
The property is located at 703 N Evergreen St Memphis, TN.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two‑unit duplex at 703 N Evergreen St, Memphis, TN; 3,469 property size; Spacious bedrooms and large living areas
