Historic District
For Sale
$399,000
217 N Mclean Blvd, Memphis, TN 38104
Two-unit residential property near Overton Park in Memphis’s Evergreen Historic District.
Property Size3,860 SF
Price / SF$103.37
Days on Market51
Property Features for 217 N Mclean Blvd
General Information
Standard status
Active
Size
3,860 SF
Property subtype
Residential Income
Listing Agency:
Sowell, Realtors
(901) 277-4380
Listed By:
Linda Sowell
(901) 277-4380
Source:
Exprealty
Added: Jun 16
Changed: Aug 3
Last Checked: Aug 3 at 4:00AM
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
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 For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.6k | $12.84 |
| − Vacancy | −$3.1k | −$0.79 |
| EGI | $46.5k | $12.05 |
| − OpEx | −$14.0k | −$3.61 |
| NOI | $32.6k | $8.43 |
3,860 SF · lease $12.84/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$465.0K
$406.9K – $542.6K
NOI $32,553 @ 7.0% cap · market cap 8.16%
Second Best
Apartment 5plus
$411.7K
$360.3K – $480.4K
NOI $28,822 @ 7.0% cap · market cap 7.22%
Theoretical Best
Office A
$1.14M
$998.2K – $1.33M
NOI $79,856 @ 7.0% cap · market cap 20.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,548
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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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 $399,000.
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
