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    106&108 Boatman St Cookeville, TN 38501

    View on Map
    Sponsored
    For Sale
    Under Contract
    $399,929

    MULTI_FAMILY - Cookeville, TN

    Property size:
    1,550 SF
    Days on Market:
    5
    Last Refresh:
    Mar 16 at 2:06 am

    Property Features for 106&108 Boatman St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active Under Contract
    Window features
    Double Pane Windows
    Rooms
    Bathroom 1, Bedroom 2, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 2
    Bedrooms
    4
    Bathrooms
    2
    APN
    053O A 001.00
    Patio and Porch features
    Porch, Deck
    Interior features
    Ceiling Fan(s)
    Appliances
    Electric Water Heater, Dishwasher, Electric Oven, Refrigerator, Electric Range, Microwave
    Size
    1,550 SF

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1960
    Number of units
    2
    Flooring type
    Vinyl
    Building materials
    Brick
    Roof type
    Composition

    We can help!

    Listing Contact
    Heather Skender-Newton

    Skender-Newton Realty (931) 261-9001

    Listing agent Heather Skender-Newton (931) 261-9001

    Listing date Mar 12, 2026

    MLS# 242738 Listing URL

    Copyright © 2026 Upper Cumberland 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.

    Learn more

    Overview

    Cookeville Duplex with Modern Amenities

    The Villas at Park View present a duplex property in Cookeville, featuring two bedrooms and one bathroom on each side. The interior includes an open-concept living room that flows into a kitchen equipped with quartz countertops, tiled backsplash, soft-close cabinets, under-cabinet lights, and an island area. VP flooring is installed throughout. Each unit provides access to a laundry space and a back deck. The bedrooms feature walk-in or oversized closets, and the bathrooms include a tub/shower insert and fixtures. The exterior has a new roof, HVAC system, plumbing, electric, sewer, and underground gutters. Grounds maintenance is provided, and amenities include a dog park and sidewalks. The property is approved for short-term or long-term rentals. The property size is 1550 square feet.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Cookeville
    County
    Putnam
    State
    Tennessee
    Longitude
    -85.5092571
    Latitude
    36.1489953

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    FAQs

    What type of property is this?
    Duplex - Affordable duplex in Cookeville with modern features and rental potential.
    Where is this duplex located?
    The property is located at 106&108 Boatman St Cookeville, TN.
    What is the asking price?
    The asking price for this property is $399,929.
    What are key features of this property?
    This property features: - New roof, HVAC, plumbing/electric, and sewer systems ensure peace of mind.; - Kitchen boasts new quartz countertops, tiled backsplash, soft close cabinets, under cabinet lights, and island area.; - Approved for short-term or long-term rentals, offering flexible options.
    (931) 261-9001
    Request Owner's contact information
    106&108 Boatman St Cookeville, TN 38501
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    Cookeville, TN 38501
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    106&108 Boatman St Cookeville, TN 38501
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    We can help!
    Listing Contact
    Heather Skender-Newton
    Real Estate License ID: 272220
    (931) 261-9001
    Learn more
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