Renovated Duplex with Two
788 Brower St, Memphis, TN 38111
For Sale
$189,500
Fully occupied duplex with updated interiors, refreshed exterior components, and matching one-bedroom, one-bath layouts.
Property Size1,318 SF
Price / SF$143.78
Days on Market95
Property Features for 788 Brower St
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Average Monthly Rent
Building Details
Year Built
Year Renovated
Listing Agency:
Crye-Leike, Inc., Realtors
Listed By:
The Eric Crutcher Sales Team
(901) 212-2414
Source:
Doorstep-realty
Added: Aug 7
Changed: Nov 8
Last Checked: Nov 8 at 6:04AM
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 fully occupied duplex contains two residential units, each configured with one bedroom and one bathroom. The property underwent a complete renovation in 2022, including new windows, exterior wood, roofing, HWT, flooring, lighting, and electrical work. Both kitchens and bathrooms have also been updated, giving the building a consistent finish across the two sides.
The duplex is located at 788 Brower St in Memphis, within the Orange Mound area near the U of M. It sits in an East Memphis residential neighborhood and presents a refreshed exterior along with updated interior spaces.
The duplex is located at 788 Brower St in Memphis, within the Orange Mound area near the U of M. It sits in an East Memphis residential neighborhood and presents a refreshed exterior along with updated interior spaces.
Key Highlights
- Two‑unit duplex with one bedroom and one bathroom on each side
- Complete renovation completed in 2022
- New windows, exterior wood, roof, HWT, flooring, lighting, and electrical
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,115
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$222,300
$222.3K
Cap Rate 7%
$158,786
$158.8K
Cap Rate 9%
$123,500
$123.5K
Market Conditions
NOI Build-Up for 1,318 SF
Gross rent
$16.9K $12.84/SF
− Vacancy
−$1.0K −$0.79/SF
EGI
$15.9K $12.05/SF
− OpEx
−$4.8K −$3.61/SF
NOI
$11.1K $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%
$222,300
Cap Rate 7%
$158,786
Cap Rate 9%
$123,500
Alternative Uses
Best Use
Multifamily LT 5
$158.8K
$138.9K – $185.3K
NOI $11,115 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$140.6K
$123.0K – $164.0K
NOI $9,841 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$389.5K
$340.8K – $454.5K
NOI $27,267 @ 7.0% cap · market cap 14.39%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
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
$165,200
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Memphis, TN
Properties on Market for Duplexes in Memphis
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied duplex with updated interiors, refreshed exterior components, and matching one-bedroom, one-bath layouts.
Where is this duplex located?
The property is located at 788 Brower St Memphis, TN.
What is the asking price?
The asking price for this property is $189,500.
What are key features of this property?
This property features: Two‑unit duplex with one bedroom and one bathroom on each side; Complete renovation completed in 2022; New windows, exterior wood, roof, HWT, flooring, lighting, and electrical
