Fully Occupied
For Sale
$365,000
520 N MCNEIL St, Memphis, TN 38112
Multi-Family, Memphis, TN
Property Size3,202 SF
Price / SF$113.99
Days on Market137
Property Features for 520 N MCNEIL St
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Subdivision
HORN BROS
Standard status
Active
Size
3,202 SF
Taxes and HOA fees
Tax Annual Amount
1813
Building Details
Year built
1922
Listing Agency:
Sowell, Realtors
(901) 278-4380
Listed By:
Linda Sowell
(901) 277-4380
Added: Jun 16
Changed: Oct 15
Last Checked: Oct 30 at 3:06PM
MLS# 10224091
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.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This quadplex contains 3,202 square feet and was constructed in 1922. The property is fully occupied, providing an established four-unit residential configuration for an income-property buyer.
Located in Memphis, the asset is near Crosstown Concourse and is identified as a residential income property within Shelby County.
Located in Memphis, the asset is near Crosstown Concourse and is identified as a residential income property within Shelby County.
Key Highlights
- Four‑unit quadplex configuration
- 3,202 square feet
- Built in 1922
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,004
Cap Rate
7.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$540,080
$540.1K
Cap Rate 7%
$385,771
$385.8K
Cap Rate 9%
$300,044
$300.0K
Market Conditions
NOI Build-Up for 3,202 SF
Gross rent
$41.1K $12.84/SF
− Vacancy
−$2.5K −$0.79/SF
EGI
$38.6K $12.05/SF
− OpEx
−$11.6K −$3.61/SF
NOI
$27.0K $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%
$540,080
Cap Rate 7%
$385,771
Cap Rate 9%
$300,044
Alternative Uses
Best Use
Multifamily LT 5
$385.8K
$337.6K – $450.1K
NOI $27,004 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$341.6K
$298.9K – $398.5K
NOI $23,909 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$946.3K
$828.0K – $1.10M
NOI $66,243 @ 7.0% cap · market cap 18.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
663
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential income property near Crosstown Concourse with current full occupancy.
Where is this quadplex located?
The property is located at 520 N MCNEIL St Memphis, TN.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Four‑unit quadplex configuration; 3,202 square feet; Built in 1922
