$219,390
SOLD MAY 9, 2025

741 Neptune St Memphis, TN 38104

South City Neighborhood
4 Beds
-- Bath
2,529 Sq Ft
5,663 Sq Ft Lot

Recently Sold

$87 Per Sq Ft

2% Below List Price

34 Days on Market

About This Home

As of May 2025

Turnkey 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!

Last Agent to Sell the Property

Donnie Morrow

eXp Realty, LLC License #327348 Listed on: 01/31/2025

eXp Realty, LLC

Last Buyer's Agent

Timishia Ortiz

eXp Realty, LLC License #377706

eXp Realty, LLC

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

Property Details

Home Type

Multi-Family

Year Built

Built in 1956

Lot Details

0

Listing Details

  • Class: Multi-Family
  • Type: Fourplex
  • MLS Map #: 745E
  • MAAR Subdivision Name: TURNERS NEPTUNE ST
  • Freestanding: Yes
  • Number Of Stories: 2
  • Price Per Sq Ft: 1687615.38
  • Estimated Sq Ft: 2529
  • Year Built: 1956
  • Construction: Brick
  • List Price/ Sq Ft: 89
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Floors/Ceilings: Tile

Exterior Features

  • Foundation: Slab
  • Roof: Composition

Garage/Parking

  • Parking Facility: Concrete

Utilities

  • Hot Water: Gas, Public Water, Public Sewer
  • Cooling Systems: 1 Window Unit per Unit
  • Heating Systems: Wall Heat

Lot Info

  • Lot Number: 2
  • Acreage: 0.13
  • Lot Size: 55X105
  • Price Per Acre: 1730769
  • Geo Subdivision: TN

Rental Info

  • Tenant Pays: Some Utilities
  • Type Of Leases: Monthly, Year

Tax Info

  • Assessor Parcel Number: 032011 00016

Multi Family

  • Total Number Of Units: 4
  • Number1 Bedroom Units: 4
  • Type of Unit: 1 BR - 1 Bath

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
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
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 Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Donnie Morrow

    Seller's Agent in 2025

    Donnie Morrow

    eXp Realty, LLC

    (901) 505-0756

    1 in this area

    531 Total Sales

    Donnie Morrow
    Section Image

  • T

    Buyer's Agent in 2025

    Timishia Ortiz

    eXp Realty, LLC

    (901) 505-0756

    1 in this area

    15 Total Sales

    Timishia Ortiz
    Section Image
  • Randall Weatherall

    Seller's Agent in 2023

    Randall Weatherall

    Memphis Metro Realty

    (731) 487-5843

    1 in this area

    209 Total Sales

    Randall Weatherall
    Section Image

  • J

    Buyer's Agent in 2023

    Jessica Sewell

    Prime Real Estate Group

    Section Image
See All Agents

Map

Source: Memphis Area Association of REALTORS®

MLS Number: 10189200

Memphis Area Association of REALTORS®
Tennessee Shelby County Memphis 38104 South City

741 Neptune St, Memphis, TN

This home is located at 741 Neptune St, Memphis, TN 38104 and is currently priced at $219,390, approximately $86 per square foot. This property was built in 1956. 741 Neptune St is a home located in Shelby County with nearby schools including Cummings K-8, Booker T. Washington Middle & High School, and Memphis Delta Preparatory Charter School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Memphis Area Association of REALTORS® IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
Some or all of the listings displayed may not belong to the firm whose website is being visited. Copyright© 2025 Memphis Area Association of REALTORS®.

Nearby Homes