Two-Unit Duplex with Updated
New
For Sale
$139,900
116 W Grand St, Jackson, TN 38301
Two separate residences provide four bedrooms, with recent plumbing, electrical, window, and heating improvements.
Property Size1,944 SF
Price / SF$71.97
Days on Market2
Property Features for 116 W Grand St
General Information
Standard status
Active
Size
1,944 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
Hickman Realty Group Inc.-Jack
Listed By:
Haltom Real Estate
(731) 984-2200
Source:
Haltomhometeam
Added: Oct 24
Changed: Oct 25
Last Checked: Oct 24 at 2:42PM
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 Hickman Realty Group Inc.-Jack
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Investment Insights
Based on property information with market context.
This duplex contains two distinct living spaces, each with two bedrooms, for a combined 1,944 square feet. Built in 1920, the property has a roof that is three years old, new plumbing throughout, a replaced breaker box, vinyl windows, and gas heaters.
The property is at 116 W Grand St in Jackson, Tennessee. Its two-unit arrangement and four-bedroom total are complemented by the documented building updates.
The property is at 116 W Grand St in Jackson, Tennessee. Its two-unit arrangement and four-bedroom total are complemented by the documented building updates.
Key Highlights
- Two units, each with 2 bedrooms; 4 bedrooms total
- 1,944 square feet of combined living space
- Roof is 3 years old
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,724
Cap Rate
7.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$214,480
$214.5K
Cap Rate 7%
$153,200
$153.2K
Cap Rate 9%
$119,156
$119.2K
Market Conditions
NOI Build-Up for 1,944 SF
Gross rent
$16.6K $8.52/SF
− Vacancy
−$1.2K −$0.64/SF
EGI
$15.3K $7.88/SF
− OpEx
−$4.6K −$2.36/SF
NOI
$10.7K $5.52/SF
Area
Madison County, TN
Vacancy
7.50%
Lease Rate
$8.52 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$214,480
Cap Rate 7%
$153,200
Cap Rate 9%
$119,156
Alternative Uses
Best Use
Multifamily LT 5
$153.2K
$134.1K – $178.7K
NOI $10,724 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$143.5K
$125.6K – $167.4K
NOI $10,045 @ 7.0% cap · market cap 7.18%
Theoretical Best
Office A
$400.3K
$350.3K – $467.0K
NOI $28,022 @ 7.0% cap · market cap 20.03%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
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Business Placement
Demographics for 38301, TN
34,170
Population
15,769
Households
2.2
Avg Household Size
37
Median Age
16%
College-Educated
85%
High-School Grad
150.9 sq mi
ZIP Area
226
Density / Sq Mi
$40,062
Median Household Income
$28,542
Median Earnings
$958
Median Rent
$119,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences provide four bedrooms, with recent plumbing, electrical, window, and heating improvements.
Where is this duplex located?
The property is located at 116 W Grand St Jackson, TN.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: Two units, each with 2 bedrooms; 4 bedrooms total; 1,944 square feet of combined living space; Roof is 3 years old
