Two-Duplex Residential
857 N Bingham, Memphis, TN 38108
For Sale
$235,000
Two duplex buildings occupy a single parcel and are professionally managed.
Property Size2,300 SF
Price / SF$102.17
Days on Market239
Property Features for 857 N Bingham
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Tenant in Place
Building Details
Building Size
Year Built
Stories
Listing Agency:
Crye-Leike, Inc. , Realtors
(901) 756-8900
Listed By:
William Haynes · License #355990
(865) 454-1124
Source:
Assuredrealestate
Added: Mar 14
Changed: Nov 6
Last Checked: Nov 7 at 3:57AM
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 residential property comprises two duplex buildings on one parcel. The buildings date to 1953 and have received updates and repairs in recent years. The property is professionally managed and has rental activity across its units.
Key Highlights
- Two duplex buildings on one parcel
- Built in 1953
- Professionally managed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,397
Cap Rate
8.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$387,940
$387.9K
Cap Rate 7%
$277,100
$277.1K
Cap Rate 9%
$215,522
$215.5K
Market Conditions
NOI Build-Up for 2,300 SF
Gross rent
$29.5K $12.84/SF
− Vacancy
−$1.8K −$0.79/SF
EGI
$27.7K $12.05/SF
− OpEx
−$8.3K −$3.61/SF
NOI
$19.4K $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%
$387,940
Cap Rate 7%
$277,100
Cap Rate 9%
$215,522
Alternative Uses
Best Use
Multifamily LT 5
$277.1K
$242.5K – $323.3K
NOI $19,397 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$245.3K
$214.7K – $286.2K
NOI $17,174 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$679.7K
$594.8K – $793.0K
NOI $47,582 @ 7.0% cap · market cap 20.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
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Business Placement
Demographics for 38108, TN
17,051
Population
7,881
Households
2.2
Avg Household Size
34
Median Age
11%
College-Educated
73%
High-School Grad
7.6 sq mi
ZIP Area
2,244
Density / Sq Mi
$35,435
Median Household Income
$32,126
Median Earnings
$921
Median Rent
$62,600
Median Home Value
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Market
Average Price Trend$/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 - Two duplex buildings occupy a single parcel and are professionally managed.
Where is this duplex located?
The property is located at 857 N Bingham Memphis, TN.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Two duplex buildings on one parcel; Built in 1953; Professionally managed
