Seller's Agent in 2025
Donnie Morrow
eXp Realty, LLC
(901) 359-9698
1 in this area
525 Total Sales
741 Neptune St Memphis, TN 38104
South City Neighborhood
4
Beds
--
Bath
2,529
Sq Ft
5,663
Sq Ft Lot
About This Home
As of May 2025Turnkey 4-Unit Investment ~ $2,500/Month Potential Income when 100% occupied ~ long term investors, house hackers and 1031 buyers, take notice! This cash-flowing 4-unit property is a prime investment opportunity with steady rental income and a vacant unit perfect for an owner-occupant or new tenant ~ just minutes from the Medical District, Downtown, and major employers, this property offers strong rental demand and long-term appreciation potential ~ each unit is a 1 bed / 1 bath ~ 3 of 4 units already rented at $625/month, and the vacant unit ready to be rented at the same rate, this property could gross $30,000/yr!! Recent updates/highlights: New roof 2020 ~ 3/4 units recently updated, including HVAC, kitchens, baths, and flooring providing a fully turnkey property with some value add potential ~ Low-maintenance ~ private parking ~ high cap rate opportunity in a growing rental market ~ call today for your private showing of this great investment opportunity!
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1956
Lot Details
- 5,663 Sq Ft Lot
- Lot Dimensions are 55x105
Parking
- Paved Parking
Home Design
- Quadruplex
- Brick Exterior Construction
- Slab Foundation
- Composition Roof
Interior Spaces
- 2,529 Sq Ft Home
- 2-Story Property
- Tile Flooring
Utilities
- Window Unit Cooling System
- Heating System Mounted To A Wall or Window
- Gas Water Heater
Community Details
- 4 Units
- Turners Neptune Street Re Subdivision
Listing and Financial Details
- Tenant pays for some utilities
- Month-to-Month Lease Term
- Assessor Parcel Number 032011 00016
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 05/09/2025 05/09/25 | Sold | $219,390 | -2.5% | $87 / Sq Ft | |
| 03/06/2025 03/06/25 | Pending | -- | -- | -- | |
| 01/31/2025 01/31/25 | For Sale | $225,000 | -3.2% | $89 / Sq Ft | |
| 01/18/2023 01/18/23 | Sold | $232,500 | -7.0% | $93 / Sq Ft | View Prior Sale |
| 01/10/2023 01/10/23 | Pending | -- | -- | -- | |
| 11/25/2022 11/25/22 | For Sale | $249,900 | -- | $100 / Sq Ft |
Source: Memphis Area Association of REALTORS®
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $885 | $56,360 | $3,480 | $52,880 |
| 2024 | $885 | $26,120 | $2,880 | $23,240 |
| 2023 | $1,591 | $26,120 | $2,880 | $23,240 |
| 2022 | $1,591 | $26,120 | $2,880 | $23,240 |
| 2021 | $1,891 | $26,120 | $2,880 | $23,240 |
| 2020 | $1,304 | $18,000 | $2,880 | $15,120 |
| 2019 | $575 | $18,000 | $2,880 | $15,120 |
| 2018 | $575 | $18,000 | $2,880 | $15,120 |
| 2017 | $589 | $18,000 | $2,880 | $15,120 |
| 2016 | $774 | $17,720 | $0 | $0 |
| 2014 | $774 | $17,720 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Donnie Morrow
-
Timishia Ortiz
T
Buyer's Agent in 2025
Timishia Ortiz
eXp Realty, LLC
(901) 505-0756
1 in this area
27 Total Sales
-
Randall Weatherall
Seller's Agent in 2023
Randall Weatherall
Memphis Metro Realty
(731) 487-5843
1 in this area
199 Total Sales
-
J
Buyer's Agent in 2023
Jessica Sewell
Prime Real Estate Group
Map
Source: Memphis Area Association of REALTORS®
MLS Number: 10189200
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