Two-Duplex Income
For Sale
$625,000
103 Walton Ave, Lafayette, TN 37083
Four-unit residential asset with modern construction, city utilities, and existing occupancy across multiple units.
Property Size4,000 SF
Price / SF$156.25
Days on Market19
Property Features for 103 Walton Ave
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Multi-Family
Occupancy
75%
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Additional Details
Asking Price
$625,000
Building Details
Year Built
2021
Buildings
2
Stories
2
Construction
brick/vinyl
Listing Agency:
Dunn Commercial Group
(615) 981-3022
Listed By:
Russell Dunn
Source:
Grayfoxrealty
Added: Aug 13
Changed: Aug 28
Last Checked: Aug 30 at 8:09PM
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 Dunn Commercial Group
Investment Insights
Based on property information with market context.
This residential income property comprises two duplex buildings completed in 2021, with a combined property size of 4,000 square feet. The two-story brick and vinyl buildings contain four units, each offering approximately 1,000 square feet with two bedrooms, one and one-half baths, a living room, eat-in kitchen, and utility area. Appliances include a refrigerator, stove, microwave, and dishwasher. Carpet and vinyl flooring, HVAC systems, and city utilities serve the units.
Three of the four units are occupied by tenants. The properties are located at 103 Walton Ave and 601 Haley St in Lafayette, Tennessee, and are offered together as a residential income asset.
Three of the four units are occupied by tenants. The properties are located at 103 Walton Ave and 601 Haley St in Lafayette, Tennessee, and are offered together as a residential income asset.
Key Highlights
- Two duplex buildings completed in 2021
- Combined property size of 4,000 square feet
- Four total units, each with approximately 1,000 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,763
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,015,260
$1.0M
Cap Rate 7%
$725,186
$725.2K
Cap Rate 9%
$564,033
$564.0K
Market Conditions
NOI Build-Up for 4,000 SF
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.
Gross rent
$77.8K $19.44/SF
− Vacancy
−$5.2K −$1.31/SF
EGI
$72.5K $18.13/SF
− OpEx
−$21.8K −$5.44/SF
NOI
$50.8K $12.69/SF
Area
Macon County, TN
Vacancy
6.74%
Lease Rate
$19.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,015,260
Cap Rate 7%
$725,186
Cap Rate 9%
$564,033
Alternative Uses
Best Use
Multifamily LT 5
$725.2K
$634.5K – $846.1K
NOI $50,763 @ 7.0% cap · market cap 8.12%
Second Best
Apartment 5plus
$595.6K
$521.2K – $694.9K
NOI $41,694 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,080 @ 7.0% cap · market cap 13.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
Explore this area
Business Placement
Demographics for 37083, TN
15,786
Population
6,958
Households
2.3
Avg Household Size
39
Median Age
14%
College-Educated
85%
High-School Grad
147.6 sq mi
ZIP Area
107
Density / Sq Mi
$60,215
Median Household Income
$35,419
Median Earnings
$821
Median Rent
$231,400
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 - Four-unit residential asset with modern construction, city utilities, and existing occupancy across multiple units.
Where is this duplex located?
The property is located at 103 Walton Ave Lafayette, TN.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two duplex buildings completed in 2021; Combined property size of 4,000 square feet; Four total units, each with approximately 1,000 square feet
