Duplex with Gated Driveway and Covered
For Sale
$499,000
82 N REMBERT St, Memphis, TN 38104
Duplexes, Traditional, Memphis, TN
Property Size3,147 SF
Price / SF$158.56
Days on Market50
Property Features for 82 N REMBERT St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
6
Full bathrooms
4
Half bathrooms
2
Rooms
Bedroom 1, Bathroom 5, Bathroom 2, Bedroom 6, Bathroom 3, Bedroom 5, Bathroom 4, Bathroom 6, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 3
Subdivision
EAST END PARK PLACE
Standard status
Active
Size
3,147 SF
Taxes and HOA fees
Tax Annual Amount
6057
Building Details
Year built
2022
Architectural style
Other
Listing Agency:
Hobson, REALTORS
(901) 761-1622
Listed By:
Jennifer Williams · License #337889
(901) 825-0044
Added: Jul 2
Changed: Aug 19
Last Checked: Aug 20 at 9:06PM
MLS# 10225305
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.
Investment Insights
Based on property information with market context.
82 N Rembert St, Memphis, TN 38104: This duplex was built in 2022 and offers two separate units, each with three bedrooms and 2.5 bathrooms. Interiors feature an open-concept living and dining area plus a separate breakfast room, with modern finishes throughout.
The property includes a gated driveway leading to covered parking, with two dedicated spaces per unit. One unit is currently tenant-occupied and can be viewed during the inspection period following an accepted offer, while the other unit is vacant and available for showings.
At approximately 3,147 square feet, the building is designed for low-maintenance, newer construction living, with parking and unit layouts that support easy day-to-day tenancy.
The property includes a gated driveway leading to covered parking, with two dedicated spaces per unit. One unit is currently tenant-occupied and can be viewed during the inspection period following an accepted offer, while the other unit is vacant and available for showings.
At approximately 3,147 square feet, the building is designed for low-maintenance, newer construction living, with parking and unit layouts that support easy day-to-day tenancy.
Key Highlights
- Built in 2022 duplex with two separate units
- Approximately 3,147 square feet total
- Each unit features 3 bedrooms and 2.5 baths
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
$26,540
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
5.32%
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%
$530,800
$530.8K
Cap Rate 7%
$379,143
$379.1K
Cap Rate 9%
$294,889
$294.9K
Market Conditions
NOI Build-Up for 3,147 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
$40.4K $12.84/SF
− Vacancy
−$2.5K −$0.79/SF
EGI
$37.9K $12.05/SF
− OpEx
−$11.4K −$3.61/SF
NOI
$26.5K $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%
$530,800
Cap Rate 7%
$379,143
Cap Rate 9%
$294,889
Alternative Uses
Best Use
Multifamily LT 5
$379.1K
$331.8K – $442.3K
NOI $26,540 @ 7.0% cap · market cap 5.32%
Second Best
Apartment 5plus
$335.7K
$293.7K – $391.6K
NOI $23,498 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$930.1K
$813.8K – $1.09M
NOI $65,105 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,406
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Newly built 2022 duplex with two 3-bedroom, 2.5-bath units, gated driveway with covered parking, and one tenant-occupied unit.
Where is this duplex located?
The property is located at 82 N REMBERT St Memphis, TN.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Built in 2022 duplex with two separate units; Approximately 3,147 square feet total; Each unit features 3 bedrooms and 2.5 baths
