Historic District
217 N Mclean Blvd, Memphis, TN 38104
For Sale
$395,000
Two-unit residential property near Overton Park in Memphis’s Evergreen Historic District.
Property Size3,860 SF
Price / SF$102.33
Days on Market145
Property Features for 217 N Mclean Blvd
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Listing Agency:
Sowell, Realtors
Listed By:
Linda Sowell
(901) 277-4380
Source:
Exprealty
Added: Jun 16
Changed: Oct 26
Last Checked: Nov 6 at 12:14PM
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 Sowell, Realtors
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Investment Insights
Based on property information with market context.
This duplex at 217 N Mclean Blvd offers 3,860 square feet of residential income property within Memphis’s Evergreen Historic District. The two-unit configuration provides a defined multifamily format for ownership or leasing consideration.
Overton Park is nearby, adding a recognizable recreational destination to the surrounding area. The property is located in Memphis, Tennessee, with the address positioned on N Mclean Blvd.
Overton Park is nearby, adding a recognizable recreational destination to the surrounding area. The property is located in Memphis, Tennessee, with the address positioned on N Mclean Blvd.
Key Highlights
- Duplex configuration with two residential units
- 3,860 square feet of property size
- Located in Memphis’s Evergreen Historic District
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,553
Cap Rate
8.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$651,060
$651.1K
Cap Rate 7%
$465,043
$465.0K
Cap Rate 9%
$361,700
$361.7K
Market Conditions
NOI Build-Up for 3,860 SF
Gross rent
$49.6K $12.84/SF
− Vacancy
−$3.1K −$0.79/SF
EGI
$46.5K $12.05/SF
− OpEx
−$14.0K −$3.61/SF
NOI
$32.6K $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 Rate 5%
$651,060
Cap Rate 7%
$465,043
Cap Rate 9%
$361,700
Alternative Uses
Best Use
Multifamily LT 5
$465.0K
$406.9K – $542.6K
NOI $32,553 @ 7.0% cap · market cap 8.24%
Second Best
Apartment 5plus
$411.7K
$360.3K – $480.4K
NOI $28,822 @ 7.0% cap · market cap 7.30%
Theoretical Best
Office A
$1.14M
$998.2K – $1.33M
NOI $79,856 @ 7.0% cap · market cap 20.22%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,394
Businesses Nearby
Explore this area
Business Placement
Demographics for 38104, TN
22,584
Population
14,315
Households
1.6
Avg Household Size
38
Median Age
52%
College-Educated
93%
High-School Grad
5.0 sq mi
ZIP Area
4,517
Density / Sq Mi
$56,452
Median Household Income
$48,300
Median Earnings
$1,073
Median Rent
$301,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Memphis, TN
Properties on Market for Duplexes in Memphis
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property near Overton Park in Memphis’s Evergreen Historic District.
Where is this duplex located?
The property is located at 217 N Mclean Blvd Memphis, TN.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Duplex configuration with two residential units; 3,860 square feet of property size; Located in Memphis’s Evergreen Historic District
