Bungalow
For Sale
$300,000
703 N EVERGREEN St, Memphis, TN 38107
Duplexes, Bungalow, Memphis, TN
Property Size3,469 SF
Price / SF$86.48
Days on Market127
Property Features for 703 N EVERGREEN St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 2, Bedroom 2, Bathroom 1, Bathroom 4, Bedroom 5, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 6
Subdivision
UNIVERSITY PARK BLK 15
Standard status
Active
Size
3,469 SF
Taxes and HOA fees
Tax Annual Amount
2102
Building Details
Year built
1925
Architectural style
Bungalow
Listing Agency:
Keller Williams · Keller Williams Realty
(901) 261-7900
Listed By:
Regi Stevenson
(901) 297-1614
Added: Jun 26
Changed: Oct 30
Last Checked: Oct 30 at 4:06AM
MLS# 10224879
Copyright © 2026 Memphis Area Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1925, this bungalow duplex contains 3,469 square feet across two residential units. The interior includes hardwood floors, large living areas, and generous bedrooms, with natural light throughout. The property has six bedrooms and four bathrooms.
The building is on N. Evergreen Street in Memphis, with Downtown, Crosstown Concourse, Overton Park, Rhodes College, restaurants, shops, and entertainment described as minutes away.
The building is on N. Evergreen Street in Memphis, with Downtown, Crosstown Concourse, Overton Park, Rhodes College, restaurants, shops, and entertainment described as minutes away.
Key Highlights
- 3,469‑square‑foot bungalow duplex built in 1925
- Two units with six bedrooms and four bathrooms
- Hardwood flooring and spacious 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer a multi-bedroom layout with separate living areas.
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: 3,469‑square‑foot bungalow duplex built in 1925; Two units with six bedrooms and four bathrooms; Hardwood flooring and spacious living areas
