Two-Duplex Residential Income
857 N BINGHAM St Memphis, TN 38108
For Sale
$235,000
MULTI_FAMILY - Memphis, TN
Property Size2,300 SF
Price / SF$102.17
Days on Market134
Property Features for 857 N BINGHAM St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 2
- Standard status
- Active
- Size
- 2,300 SF
Taxes and HOA fees
- Tax Annual Amount
- 961
Building Details
- Year built
- 1953
- Architectural style
- Other
Listing Agency:
Crye-Leike, Inc., REALTORS
(901) 756-8900
Listed By:
William Haynes · License #355990
(865) 454-1124
Added: Mar 14
Changed: Jul 25
Last Checked: Jul 25 at 7:06PM
MLS# 10216787
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.
This for-sale residential income package includes two duplexes on one parcel in Memphis, TN. The property is described as being in terrific condition, with professionally managed operations and updates and repairs completed over the past few years.
The duplexes are currently rented for a combined $1,845 per month, with one unit rented for free to the seller’s friend. Buyer access is restricted: no showings are available without an accepted offer, and tenants should not be approached or disturbed.
The listing also notes that no creative financing, seller financing, or wholesale arrangements are being offered. The seller has additional duplexes on Bingham that can be purchased individually or in bulk.
The duplexes are currently rented for a combined $1,845 per month, with one unit rented for free to the seller’s friend. Buyer access is restricted: no showings are available without an accepted offer, and tenants should not be approached or disturbed.
The listing also notes that no creative financing, seller financing, or wholesale arrangements are being offered. The seller has additional duplexes on Bingham that can be purchased individually or in bulk.
Key Highlights
- Built in 1953
- Two duplexes on one parcel
- Combined rent of $1,845/mo
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.5k | $12.84 |
| − Vacancy | −$1.8k | −$0.79 |
| EGI | $27.7k | $12.05 |
| − OpEx | −$8.3k | −$3.61 |
| NOI | $19.4k | $8.43 |
2,300 SF · lease $12.84/SF/yr · vacancy 6.17% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two duplexes on one parcel are professionally managed and currently generate combined monthly rent of $1,845.
Where is this duplex located?
The property is located at 857 N BINGHAM St 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: Built in 1953; Two duplexes on one parcel; Combined rent of $1,845/mo
