Occupied Duplex
For Sale
$129,000
770 Brower St, Memphis, TN 38111
Two-unit residential property with current tenant occupancy and one lease extending through May 2027.
Property Size1,278 SF
Price / SF$100.94
Days on Market49
Property Features for 770 Brower St
General Information
Standard status
Active
Size
1,278 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
University Neighborhoods Development Corp.
Building Details
Year Built
1935
Listing Agency:
Crye-Leike, Inc., Realtors
Listed By:
John Quinn · License #3298267
(901) 591-8100
Source:
Johnquinnrealestate
Added: Sep 12
Changed: Oct 28
Last Checked: Oct 30 at 1:44PM
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.
This duplex contains 1,278 square feet and was built in 1935. Both units are currently occupied, with one tenant expected to move at the end of September. The remaining lease runs through May 2027.
Located at 770 Brower St in Memphis, Tennessee, the property offers an existing two-unit configuration for a buyer seeking a residential income asset. Tenant access is restricted, with property access available after an accepted offer.
Located at 770 Brower St in Memphis, Tennessee, the property offers an existing two-unit configuration for a buyer seeking a residential income asset. Tenant access is restricted, with property access available after an accepted offer.
Key Highlights
- Two‑unit duplex at 770 Brower St, Memphis, TN 38111
- 1,278 square feet of building area
- Built in 1935
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,778
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$215,560
$215.6K
Cap Rate 7%
$153,971
$154.0K
Cap Rate 9%
$119,756
$119.8K
Market Conditions
NOI Build-Up for 1,278 SF
Gross rent
$16.4K $12.84/SF
− Vacancy
−$1.0K −$0.79/SF
EGI
$15.4K $12.05/SF
− OpEx
−$4.6K −$3.61/SF
NOI
$10.8K $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%
$215,560
Cap Rate 7%
$153,971
Cap Rate 9%
$119,756
Alternative Uses
Best Use
Multifamily LT 5
$154.0K
$134.7K – $179.6K
NOI $10,778 @ 7.0% cap · market cap 8.36%
Second Best
Apartment 5plus
$136.3K
$119.3K – $159.1K
NOI $9,543 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$377.7K
$330.5K – $440.7K
NOI $26,439 @ 7.0% cap · market cap 20.50%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
617
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 - Two-unit residential property with current tenant occupancy and one lease extending through May 2027.
Where is this duplex located?
The property is located at 770 Brower St Memphis, TN.
What is the asking price?
The asking price for this property is $129,000.
What are key features of this property?
This property features: Two‑unit duplex at 770 Brower St, Memphis, TN 38111; 1,278 square feet of building area; Built in 1935
