Realis Sanders
Keller Williams
(901) 437-7971
56 Total Sales
1 in South City
$35,000 Price
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!
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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
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jan 31, 2025
Closed on
May 9, 2025
Sold by
Bought by
Seller's Agent
Donnie Morrow
eXp Realty, LLC
Buyer's Agent
Timishia Ortiz
eXp Realty, LLC
List Price
$225,000
Sold Price
$219,390
Premium/Discount to List
-$5,610
-2.49%
Views
33
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$164,542
Interest Rate
6.81%
Mortgage Type
New Conventional
Purchase Details
Listed on
Nov 25, 2022
Closed on
Jan 18, 2023
Sold by
Bought by
Seller's Agent
Randall Weatherall
Memphis Metro Realty
Buyer's Agent
Jessica Sewell
Prime Real Estate Group
List Price
$249,900
Sold Price
$232,500
Premium/Discount to List
-$17,400
-6.96%
Views
133
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-2.48%
Original Mortgage
$174,375
Interest Rate
6.33%
Mortgage Type
New Conventional
Purchase Details
Closed on
Nov 5, 2020
Sold by
Bought by
Purchase Details
Closed on
Nov 23, 2011
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in South City, TN
-
Realis Sanders
-
Meleah Thurmond-Edwards
Meleah Thurmond-Edwards
KAIZEN Realty, LLC
(901) 666-6918
74 Total Sales
1 in South City
$319,000 Price
-
Dylan Johnson
Dylan Johnson
901, REALTORS
(209) 618-2818
109 Total Sales
1 in South City
$449,000 Price
-
Charles Harris
Charles Harris
Coldwell Banker Collins-Maury
(901) 450-5570
96 Total Sales
1 in South City
$137,000 Price
-
Tara Woodley
Tara Woodley
Zach Taylor Real Estate
(901) 437-5536
83 Total Sales
2 in South City
$4K - $34K Price Range
-
Paige Arnold
Paige Arnold
Crye-Leike, Inc., REALTORS
(901) 422-8066
101 Total Sales
1 in South City
$319,000 Price
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $219,390 | Titan Title Company | ||
| -- | None Listed On Document | ||
| -- | None Listed On Document | ||
| $232,500 | -- | ||
| $83,500 | Memphis Title Co | ||
| -- | None Available |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | $164,542 | ||
| Previous Owner | $174,375 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $1,516 | $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
Seller's Agent in 2025
Donnie Morrow
eXp Realty, LLC
(901) 359-9698
1 in this area
526 Total Sales
-
Timishia Ortiz
T
Buyer's Agent in 2025
Timishia Ortiz
eXp Realty, LLC
(901) 505-0756
1 in this area
32 Total Sales
-
Randall Weatherall
Seller's Agent in 2023
Randall Weatherall
Memphis Metro Realty
(731) 487-5843
1 in this area
183 Total Sales
-
J
Buyer's Agent in 2023
Jessica Sewell
Prime Real Estate Group
Map
Source: Memphis Area Association of REALTORS®
MLS Number: 10189200
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.
Listing content and images Copyright 2026 Memphis Area Association of REALTORS®. Information provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Do not rely upon listing data without independently verifying it.
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