Renovated Brick
New
For Sale
$398,900
139 Quita Cir, Lebanon, TN 37087
Updated two-unit property with refreshed interiors, oversized living areas, and two bedrooms on each side.
Property Size2,029 SF
Price / SF$196.60
Days on Market4
Property Features for 139 Quita Cir
General Information
Standard status
Active
Size
2,029 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1976
Buildings
1
Construction
solid brick
Listing Agency:
Benchmark Realty, LLC
(615) 288-8292
Listed By:
Michael Smith · License #RTC109
Source:
Amandahowardrealestate
Added: Aug 17
Changed: Aug 18
Last Checked: Aug 19 at 5:19AM
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 Benchmark Realty, LLC
Investment Insights
Based on property information with market context.
This 2,029-square-foot duplex in Lebanon, Tennessee, was built in 1976 and has a solid brick exterior. Both units have undergone extensive interior updates, including vinyl-wrapped windows, updated tub and shower combinations, new vanities, kitchen cabinets, countertops, sinks, vinyl plank flooring, and fresh paint. Each side includes two bedrooms, an oversized kitchen, a living room, and a bathroom. One unit includes a new dishwasher, while the other has new ceiling fans in both bedrooms. Both sides also have new ovens and updated light fixtures.
The architectural shingle roof is approximately 5–6 years old. The property is located at 139 Quita Cir, Lebanon, TN 37087, and has a total property size of 2,029 square feet.
The architectural shingle roof is approximately 5–6 years old. The property is located at 139 Quita Cir, Lebanon, TN 37087, and has a total property size of 2,029 square feet.
Key Highlights
- Duplex with 2 bedrooms on each side
- 2,029‑square‑foot property built in 1976
- Solid brick exterior with architectural shingle roof approximately 5–6 years old
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
$23,922
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
6.00%
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%
$478,440
$478.4K
Cap Rate 7%
$341,743
$341.7K
Cap Rate 9%
$265,800
$265.8K
Market Conditions
NOI Build-Up for 2,029 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
$36.3K $17.88/SF
− Vacancy
−$2.1K −$1.04/SF
EGI
$34.2K $16.84/SF
− OpEx
−$10.3K −$5.05/SF
NOI
$23.9K $11.79/SF
Area
Wilson County, TN
Vacancy
5.80%
Lease Rate
$17.88 /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%
$478,440
Cap Rate 7%
$341,743
Cap Rate 9%
$265,800
Alternative Uses
Best Use
Multifamily LT 5
$341.7K
$299.0K – $398.7K
NOI $23,922 @ 7.0% cap · market cap 6.00%
Second Best
Apartment 5plus
$317.4K
$277.7K – $370.3K
NOI $22,216 @ 7.0% cap · market cap 5.57%
Theoretical Best
Warehouse
$2.66M
$2.33M – $3.10M
NOI $186,247 @ 7.0% cap · market cap 46.69%
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
375
Businesses Nearby
Explore this area
Business Placement
Demographics for 37087, TN
51,658
Population
21,800
Households
2.4
Avg Household Size
39
Median Age
29%
College-Educated
92%
High-School Grad
164.9 sq mi
ZIP Area
313
Density / Sq Mi
$80,978
Median Household Income
$43,253
Median Earnings
$1,134
Median Rent
$359,900
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 - Updated two-unit property with refreshed interiors, oversized living areas, and two bedrooms on each side.
Where is this duplex located?
The property is located at 139 Quita Cir Lebanon, TN.
What is the asking price?
The asking price for this property is $398,900.
What are key features of this property?
This property features: Duplex with 2 bedrooms on each side; 2,029‑square‑foot property built in 1976; Solid brick exterior with architectural shingle roof approximately 5–6 years old
