Building Details

Year Built 1999

Buildings 2

Listing Agency: Parker Peery Properties

Listed By: Mika Sesler · License #344607 Show Phone

Source: Fiddletreerealty

Added: Aug 5 Changed: Oct 10 Last Checked: Oct 15 at 4:32AM

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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 Parker Peery Properties

Investment Insights

Based on property information with market context.

This multifamily package combines a four-unit quadplex, a two-unit duplex, and an additional lot. The six rental units include four 1-bedroom, 1-bathroom units in the quadplex, plus one 2-bedroom, 1-bathroom unit and one 1-bedroom, 1-bathroom unit in the duplex. The quadplex is zoned commercial, while the duplex carries residential zoning. The property was built in 1999 and contains 3,780 square feet.

All units are occupied, with tenants currently renting month-to-month after completing their initial lease terms. Each unit has a separate electric meter, security deposits are in place, and the seller currently pays utilities. Recent work includes flooring, cabinets, countertops, and a refrigerator in Quadplex Unit 2, along with flooring and a newer refrigerator in Unit 4. The quadplex roof is approximately 5 years old. The property is located less than 20 minutes from downtown Erin.

Key Highlights

• Six rental units across one quadplex and one duplex
• Quadplex includes four 1‑bedroom, 1‑bathroom units and is zoned commercial
• Duplex includes one 2‑bedroom, 1‑bathroom unit and one 1‑bedroom, 1‑bathroom unit

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$39,400

Cap Rate

8.96%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$788,000 $788.0K

Cap Rate 7%

$562,857 $562.9K

Cap Rate 9%

$437,778 $437.8K

Market Conditions

NOI Build-Up for 3,780 SF

Gross rent

$77.1K $20.40/SF

− Vacancy

−$5.5K −$1.45/SF

EGI

$71.6K $18.95/SF

− OpEx

−$32.2K −$8.53/SF

NOI

$39.4K $10.42/SF

Area

Dickson County, TN

Vacancy

7.10%

Lease Rate

$20.40 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$788,000

Cap Rate 7%

$562,857

Cap Rate 9%

$437,778

Alternative Uses

Best Use

Multifamily LT 5

$685.3K

$599.6K – $799.5K (±1% cap)

NOI $47,971 @ 7.0% cap · market cap 10.90%

Second Best

Apartment 5plus

$562.9K

$492.5K – $656.7K (±1% cap)

NOI $39,400 @ 7.0% cap · market cap 8.96%

Theoretical Best

Office A

$1.11M

$969.6K – $1.29M (±1% cap)

NOI $77,566 @ 7.0% cap · market cap 17.63%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Real Estate Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

6

Residential units

100%

Occupancy

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

3

Businesses Nearby

Explore this area Business Placement

Demographics for 37181, TN

1,509

Population

748

Households

2

Avg Household Size

43

Median Age

15%

College-Educated

81%

High-School Grad

52.3 sq mi

ZIP Area

29

Density / Sq Mi

$64,583

Median Household Income

$33,579

Median Earnings

$722

Median Rent

$172,900

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this multifamily properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Multifamily property - Fully occupied package includes a quadplex, duplex, additional lot, and commercial and residential zoning.

Where is this multifamily property located?

The property is located at 15030 Highway 49 Vanleer, TN.

What is the asking price?

The asking price for this property is $439,900.

What are key features of this property?

This property features: Six rental units across one quadplex and one duplex; Quadplex includes four 1‑bedroom, 1‑bathroom units and is zoned commercial; Duplex includes one 2‑bedroom, 1‑bathroom unit and one 1‑bedroom, 1‑bathroom unit