Duplex with Two One-Bedroom
For Sale
$169,000
925 N Willett St, Memphis, TN 38107
Two residential units offer separate kitchens, laundry hookups, and a layout suited to rental occupancy or owner residence.
Property Size1,692 SF
Price / SF$99.88
Days on Market91
Property Features for 925 N Willett St
General Information
Standard status
Active
Size
1,692 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
washer dryer hookups
Listing Agency:
Fast Track Realty, LLC
(901) 490-9449
Listed By:
Verna Littleton
(901) 490-9449
Source:
Exprealty
Added: May 13
Changed: Aug 11
Last Checked: Aug 11 at 4:52AM
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 Fast Track Realty, LLC
Investment Insights
Based on property information with market context.
This 1,692-square-foot duplex contains two separate one-bedroom, one-bath units. Each side includes a large kitchen, washer and dryer hookups, and neutral finishes. The property requires minor cosmetic work before the units are rented, providing a straightforward path to occupancy improvements.
Located at 925 N Willett St in Memphis, the property is minutes from Rhodes College, Crosstown Concourse, Memphis Zoo, and Midtown. Both units can be leased, or an owner can occupy one residence while renting the other. The duplex is offered for sale.
Located at 925 N Willett St in Memphis, the property is minutes from Rhodes College, Crosstown Concourse, Memphis Zoo, and Midtown. Both units can be leased, or an owner can occupy one residence while renting the other. The duplex is offered for sale.
Key Highlights
- Two‑unit duplex totaling 1,692 square feet
- Each unit includes 1 bedroom and 1 bath
- Large kitchen in each side with washer and dryer hookups
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
$14,269
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
8.44%
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%
$285,380
$285.4K
Cap Rate 7%
$203,843
$203.8K
Cap Rate 9%
$158,544
$158.5K
Market Conditions
NOI Build-Up for 1,692 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
$21.7K $12.84/SF
− Vacancy
−$1.3K −$0.79/SF
EGI
$20.4K $12.05/SF
− OpEx
−$6.1K −$3.61/SF
NOI
$14.3K $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%
$285,380
Cap Rate 7%
$203,843
Cap Rate 9%
$158,544
Alternative Uses
Best Use
Multifamily LT 5
$203.8K
$178.4K – $237.8K
NOI $14,269 @ 7.0% cap · market cap 8.44%
Second Best
Apartment 5plus
$180.5K
$157.9K – $210.6K
NOI $12,634 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$500.1K
$437.6K – $583.4K
NOI $35,004 @ 7.0% cap · market cap 20.71%
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
271
Businesses Nearby
Explore this area
Business Placement
Demographics for 38107, TN
15,655
Population
8,093
Households
1.9
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
5.4 sq mi
ZIP Area
2,899
Density / Sq Mi
$36,393
Median Household Income
$34,958
Median Earnings
$999
Median Rent
$128,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer separate kitchens, laundry hookups, and a layout suited to rental occupancy or owner residence.
Where is this duplex located?
The property is located at 925 N Willett St Memphis, TN.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,692 square feet; Each unit includes 1 bedroom and 1 bath; Large kitchen in each side with washer and dryer hookups
