Updated Triplex Near Fort
For Sale
$280,000
120 Tandy Dr, Clarksville, TN 37042
Individually metered residences feature two-bedroom layouts, with recent interior improvements underway in one unit.
Property Size2,184 SF
Days on Market23
Property Features for 120 Tandy Dr
General Information
Standard status
Active
Size
2,184 SF
Property subtype
Residential Income
Zoning
R-3
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,690
Building Details
Building Size
2,184 SF
Year Built
1972
Stories
1
Units
3
Listing Agency:
The House Connection
(931) 272-3065
Listed By:
John Paul Williams
(931) 272-3065
Source:
Spotlightproperties
Added: Jul 31
Changed: Aug 17
Last Checked: Aug 21 at 1:57PM
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 The House Connection
Investment Insights
Based on property information with market context.
This triplex contains three individually metered units, each arranged with 2 bedrooms and 1 bath. Unit A has brand-new carpet and fresh paint touch-ups, while additional updates are described throughout the property. Units B and C are currently tenant occupied, providing an existing residential rental configuration at the time of listing.
Built in 1972, the property is located at 120 Tandy Dr in Clarksville, Tennessee, minutes from Fort Campbell. The R-3 zoning designation supports the stated multifamily classification. Professional management is available through Rent My Home Property Management, although the buyer is not required to retain the current manager.
Built in 1972, the property is located at 120 Tandy Dr in Clarksville, Tennessee, minutes from Fort Campbell. The R-3 zoning designation supports the stated multifamily classification. Professional management is available through Rent My Home Property Management, although the buyer is not required to retain the current manager.
Key Highlights
- Three‑unit multifamily property at 120 Tandy Dr, Clarksville, TN 37042
- Each unit offers 2 bedrooms and 1 bath
- All units are individually metered
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
$19,726
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
7.05%
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%
$394,520
$394.5K
Cap Rate 7%
$281,800
$281.8K
Cap Rate 9%
$219,178
$219.2K
Market Conditions
NOI Build-Up for 2,184 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
$30.1K $13.80/SF
− Vacancy
−$2.0K −$0.90/SF
EGI
$28.2K $12.90/SF
− OpEx
−$8.5K −$3.87/SF
NOI
$19.7K $9.03/SF
Area
Clarksville, TN
Vacancy
6.50%
Lease Rate
$13.80 /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%
$394,520
Cap Rate 7%
$281,800
Cap Rate 9%
$219,178
Alternative Uses
Best Use
Multifamily LT 5
$281.8K
$246.6K – $328.8K
NOI $19,726 @ 7.0% cap · market cap 7.05%
Second Best
Apartment 5plus
$251.6K
$220.2K – $293.6K
NOI $17,614 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$366.6K
$320.8K – $427.7K
NOI $25,663 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
Explore this area
Business Placement
Demographics for 37042, TN
83,498
Population
35,433
Households
2.4
Avg Household Size
29
Median Age
26%
College-Educated
94%
High-School Grad
56.9 sq mi
ZIP Area
1,467
Density / Sq Mi
$66,435
Median Household Income
$38,716
Median Earnings
$1,196
Median Rent
$220,700
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?
Triplex - Individually metered residences feature two-bedroom layouts, with recent interior improvements underway in one unit.
Where is this triplex located?
The property is located at 120 Tandy Dr Clarksville, TN.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Three‑unit multifamily property at 120 Tandy Dr, Clarksville, TN 37042; Each unit offers 2 bedrooms and 1 bath; All units are individually metered
