Victorian
New
For Sale
$429,900
328 N MCLEAN Blvd N, Memphis, TN 38112
Duplexes, Victorian, Memphis, TN
Property Size3,876 SF
Price / SF$110.91
Days on Market1
Property Features for 328 N MCLEAN Blvd N
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
6
Full bathrooms
4
Half bathrooms
2
Rooms
Bedroom 6, Bathroom 4, Bedroom 4, Bathroom 5, Bathroom 3, Bathroom 2, Bathroom 6, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 5
Subdivision
MALLORY
Standard status
Active
Size
3,876 SF
Taxes and HOA fees
Tax Annual Amount
3264
Amenities
covered patio
Building Details
Year built
1926
Architectural style
Victorian
Listing Agency:
Enterprise, REALTORS
(901) 867-1000
Listed By:
Suzanne Smith
(901) 201-0752
Added: Oct 14
Last Checked: Oct 14 at 6:06PM
MLS# 10232418
Copyright © 2026 Memphis Area Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,876-square-foot Victorian duplex, built in 1926, contains two residences with three bedrooms and two full baths plus a half bath in each. Both units have separate kitchens and laundry areas. Hardwood flooring is present on the lower level, and the property also includes rear parking and a covered patio.
Overton Park, the Memphis Zoo, and Rhodes College are nearby. The roof and exterior paint were updated one year ago. The two HVAC systems are 4 and 9 years old, and the property has two tankless water heaters.
Overton Park, the Memphis Zoo, and Rhodes College are nearby. The roof and exterior paint were updated one year ago. The two HVAC systems are 4 and 9 years old, and the property has two tankless water heaters.
Key Highlights
- Two residences, each with 3 bedrooms, 2 full baths, and 1 half bath
- 3,876 square feet; built in 1926
- Separate kitchen and laundry area in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,688
Cap Rate
7.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$653,760
$653.8K
Cap Rate 7%
$466,971
$467.0K
Cap Rate 9%
$363,200
$363.2K
Market Conditions
NOI Build-Up for 3,876 SF
Gross rent
$49.8K $12.84/SF
− Vacancy
−$3.1K −$0.79/SF
EGI
$46.7K $12.05/SF
− OpEx
−$14.0K −$3.61/SF
NOI
$32.7K $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%
$653,760
Cap Rate 7%
$466,971
Cap Rate 9%
$363,200
Alternative Uses
Best Use
Multifamily LT 5
$467.0K
$408.6K – $544.8K
NOI $32,688 @ 7.0% cap · market cap 7.60%
Second Best
Apartment 5plus
$413.5K
$361.8K – $482.4K
NOI $28,942 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,187 @ 7.0% cap · market cap 18.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
Explore this area
Business Placement
Demographics for 38112, TN
16,970
Population
7,425
Households
2.3
Avg Household Size
32
Median Age
38%
College-Educated
85%
High-School Grad
4.8 sq mi
ZIP Area
3,535
Density / Sq Mi
$52,639
Median Household Income
$29,576
Median Earnings
$969
Median Rent
$206,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has three bedrooms, two full baths, a half bath, a separate kitchen, and its own laundry area.
Where is this duplex located?
The property is located at 328 N MCLEAN Blvd N Memphis, TN.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms, 2 full baths, and 1 half bath; 3,876 square feet; built in 1926; Separate kitchen and laundry area in each unit
