Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3Rd Ave NE Winchester, TN 37398

    Sponsored
    For Sale
    $275,000

    MULTI_FAMILY - Winchester, TN

    Property size:
    1,344 SF
    Lot size:
    0.34 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 3 at 8:06 am

    Property Features for 3Rd Ave NE

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Res
    Rooms
    Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 4
    Bedrooms
    4
    Bathrooms
    2
    APN
    010.00
    Basement
    Crawl Space
    Appliances
    Electric Water Heater, Electric Oven, Refrigerator, Electric Range
    Size
    1,344 SF
    Lot size
    0.34 Acres

    Utilities

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

    Building Details

    Year built
    1940
    Number of units
    2
    Flooring type
    Tile, Carpet, Hardwood
    Building materials
    Frame, Vinyl Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    Lindsey Bruce
    Lindsey Bruce

    Highlands Elite Real Estate LLC - Baxter (931) 400-8820

    Listing agent Lindsey Bruce (931) 267-3099

    Listing date Mar 2, 2026

    MLS# 242453 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

    Property Insight Report

    Overview

    Winchester Dual-Home Investment Opportunity

    This property features two separate homes on a single parcel, situated in Winchester, Tennessee. Each home includes two bedrooms and one bathroom. The property is currently generating income, with each home leased at $340 per week. The lot size is 0.3444 acres. The total property size is 1344 square feet. This multi-family property is located in Franklin County, with a zoning designation of Res. The property is positioned as a turnkey investment, suitable for both experienced and new investors looking for rental income. The location is described as a sought-after area within Winchester, offering strong rental appeal in a vibrant, well-connected community.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    TVA Owned Public ... Hiking Area

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Winchester
    County
    Franklin
    State
    Tennessee
    Longitude
    -86.1130042
    Latitude
    35.1887357

    Nearby Similar for Sale

    • Contact for pricing

      Winchester Retail Outparcels For Sale

      Retail outparcels anchored by Food City in Winchester, Tennessee.
      2211 Cowan Hwy, Winchester, TN 37398
      View Details
    • $289,900
      384 SF

      Winchester Retail Space - Prime Location

      Established Business, High Visibility, 0.5-Acre Lot
      1136 Dinah Shore Blvd, Winchester, TN 37398
      View Details
    • $550,000
      4.83 Acres

      Winchester Commercial Land - 4.83 Acres

      High-traffic location, city utilities available.
      Decherd Blvd, Winchester, TN 37398
      View Details
    • $300,000
      9.00 Acres

      Winchester Commercial Land - 9 Acres

      Prime Commercial Land Near Home Depot. High-density residential proximity.
      Tullahoma Hwy, Winchester, TN 37398
      View Details
    • $75,000
      0.50 Acres

      Winchester Medical Office Land

      Prime medical development site near hospital.
      186 Hospital Rd, Winchester, TN 37398
      View Details
    • $795,000
      5,384 SF

      Winchester Office Complex - Great Potential

      Two office buildings, ample parking, prime location.
      2092 Cowan Hwy, Winchester, TN 37398
      View Details
    • $75,000
      0.44 Acres

      Winchester Commercial Land - C-2 Zoning

      High-traffic lot, build-to-suit opportunity.
      4 Bypass Rd, Winchester, TN 37398
      View Details
    • $1,750,000
      12,774 SF

      Winchester Mixed-Use Investment Opportunity

      High-yield property with diverse income streams.
      913 College St, Winchester, TN 37398
      View Details
    • $75,000
      0.49 Acres

      Winchester Commercial Lot - C-2 Zoning

      High-traffic commercial lot, build-to-suit.
      3 Bypass Rd, Winchester, TN 37398
      View Details
    • $800,000
      2,850 SF

      Winchester Commercial Property Investment

      High-Visibility Commercial Land & Buildings
      364 Blair Pond Rd, Winchester, TN 37398
      View Details

    FAQs

    What type of property is this?
    Duplex - Two homes on one parcel, generating immediate cash flow.
    Where is this duplex located?
    The property is located at 3Rd Ave NE Winchester, TN.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: - Dual-home property provides immediate cash flow from two separate rental units.; - Turnkey investment opportunity with both homes currently leased.; - Located in a sought-after Winchester location.
    (931) 267-3099
    Request Owner's contact information
    3Rd Ave NE Winchester, TN 37398
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3Rd Ave NE
    Winchester, TN 37398
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    3Rd Ave NE Winchester, TN 37398
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Lindsey Bruce
    Lindsey Bruce
    Real Estate License ID: 359412
    (931) 267-3099 (931) 400-8820
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!