Duplex with Metal
For Sale
$155,000
1119 Comstock Ave, Columbia, TN 38401
Two separate residential units with updated roofing and individual electrical breakers.
Property Size1,512 SF
Price / SF$102.51
Days on Market40
Property Features for 1119 Comstock Ave
General Information
Standard status
Active
Size
1,512 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1955
Listing Agency:
Coldwell Banker Southern Realty
(931) 703-3738
Listed By:
Don Barnes, Cindy Barnes
Source:
Shearonsellsteam
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 25 at 5:27AM
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 Coldwell Banker Southern Realty
Investment Insights
Based on property information with market context.
This duplex contains two separate residences: one offers three bedrooms and one bathroom, while the other provides two bedrooms and one bathroom. The property totals 1,512 square feet and was built in 1955. Each unit is served by window air-conditioning equipment, with two units in the front residence and one in the rear residence. The plumbing uses PVC piping, and the electrical service includes separate breakers for the two units.
The roof was replaced in 2025 with metal roofing, and the electrical system was updated several years ago. Located at 1119 Comstock Ave in Columbia, Tennessee, the property is being offered with both units together.
The roof was replaced in 2025 with metal roofing, and the electrical system was updated several years ago. Located at 1119 Comstock Ave in Columbia, Tennessee, the property is being offered with both units together.
Key Highlights
- Two‑unit duplex with 3‑bedroom and 1‑bath front residence plus 2‑bedroom and 1‑bath rear residence
- 1,512 SF property built in 1955
- Metal roof installed in 2025
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
$12,877
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
8.31%
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%
$257,540
$257.5K
Cap Rate 7%
$183,957
$184.0K
Cap Rate 9%
$143,078
$143.1K
Market Conditions
NOI Build-Up for 1,512 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
$23.8K $15.72/SF
− Vacancy
−$357 −$0.24/SF
EGI
$23.4K $15.48/SF
− OpEx
−$10.5K −$6.97/SF
NOI
$12.9K $8.52/SF
Area
Maury County, TN
Vacancy
1.50%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
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%
$257,540
Cap Rate 7%
$183,957
Cap Rate 9%
$143,078
Alternative Uses
Best Use
Multifamily LT 5
$211.1K
$184.7K – $246.2K
NOI $14,774 @ 7.0% cap · market cap 9.53%
Second Best
Apartment 5plus
$184.0K
$161.0K – $214.6K
NOI $12,877 @ 7.0% cap · market cap 8.31%
Theoretical Best
Office A
$443.2K
$387.8K – $517.1K
NOI $31,026 @ 7.0% cap · market cap 20.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
974
Businesses Nearby
Explore this area
Business Placement
Demographics for 38401, TN
63,075
Population
28,470
Households
2.2
Avg Household Size
40
Median Age
24%
College-Educated
92%
High-School Grad
296.7 sq mi
ZIP Area
213
Density / Sq Mi
$69,467
Median Household Income
$42,314
Median Earnings
$1,084
Median Rent
$295,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residential units with updated roofing and individual electrical breakers.
Where is this duplex located?
The property is located at 1119 Comstock Ave Columbia, TN.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: Two‑unit duplex with 3‑bedroom and 1‑bath front residence plus 2‑bedroom and 1‑bath rear residence; 1,512 SF property built in 1955; Metal roof installed in 2025
