Brick Duplex with Two
New
For Sale
$339,000
1427 Potter Dr, Columbia, TN 38401
Both residences are leased and include private decks, kitchen appliances, and level outdoor space.
Property Size1,770 SF
Price / SF$191.53
Days on Market7
Property Features for 1427 Potter Dr
General Information
Standard status
Active
Size
1,770 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
private back deck
stove
refrigerator
dishwasher
large level backyard
storage shed
Building Details
Year Built
1996
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Coldwell Banker Southern Realty
(615) 465-3700
Listed By:
Stacey Springer 9312429263 · License #350688
Source:
Southeasttennesseeproperties
Added: Aug 23
Changed: Aug 28
Last Checked: Aug 29 at 10:28AM
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.
Built in 1996, this all-brick duplex contains two residences with a combined 1,770 square feet. Each unit offers two bedrooms, one full bathroom, a functional layout, a private back deck, and a stove, refrigerator, and dishwasher. The property also includes a storage shed and a large, level backyard. Both units are currently leased.
The property is located at 1427 Potter Dr in Columbia, just off Bear Creek Pike near Tom J. Hitch Parkway. Historic downtown Columbia, Columbia State Community College, shopping, dining, and medical facilities are minutes away, while nearby access to I-65 supports travel toward Nashville.
The property is located at 1427 Potter Dr in Columbia, just off Bear Creek Pike near Tom J. Hitch Parkway. Historic downtown Columbia, Columbia State Community College, shopping, dining, and medical facilities are minutes away, while nearby access to I-65 supports travel toward Nashville.
Key Highlights
- Two‑unit duplex with 1,770 square feet combined
- Each unit includes 2 bedrooms and 1 full bath
- All‑brick construction; built in 1996
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
$17,295
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
5.10%
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%
$345,900
$345.9K
Cap Rate 7%
$247,071
$247.1K
Cap Rate 9%
$192,167
$192.2K
Market Conditions
NOI Build-Up for 1,770 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
$25.1K $14.16/SF
− Vacancy
−$356 −$0.20/SF
EGI
$24.7K $13.96/SF
− OpEx
−$7.4K −$4.19/SF
NOI
$17.3K $9.77/SF
Area
Maury County, TN
Vacancy
1.42%
Lease Rate
$14.16 /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%
$345,900
Cap Rate 7%
$247,071
Cap Rate 9%
$192,167
Alternative Uses
Best Use
Multifamily LT 5
$247.1K
$216.2K – $288.3K
NOI $17,295 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$215.3K
$188.4K – $251.2K
NOI $15,074 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$518.9K
$454.0K – $605.3K
NOI $36,320 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
42
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
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased and include private decks, kitchen appliances, and level outdoor space.
Where is this duplex located?
The property is located at 1427 Potter Dr Columbia, TN.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,770 square feet combined; Each unit includes 2 bedrooms and 1 full bath; All‑brick construction; built in 1996
