Turnkey 5-Unit Townhome
For Sale
$599,900
1531 E Knollwood Cir, Clarksville, TN 37043
Five occupied townhome units with major 2025 mechanical and unit-turn upgrades in a low-flood-risk Zone X location.
Property Size4,368 SF
Lot Size0.55 Acres
Price / SF$137.34
Days on Market168
Property Features for 1531 E Knollwood Cir
General Information
Standard status
Active
Size
4,368 SF
Lot size
0.55 Acres
Property subtype
Multi-Family
Zoning
R-4
Occupancy
100%
Additional Details
Cap Rate
5.57%
Multifamily Units
5
Amenities
fiber internet
Building Details
Year Built
1989
Year Renovated
2025
Stories
2
Tenancy
Multi
Listing Agency:
Keller Williams Realty Clarksville
Listed By:
James Church · License #367269
(707) 592-2777
Source:
Forsaleinclarksville
Added: May 9
Changed: Oct 6
Last Checked: Oct 7 at 3:07PM
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 Keller Williams Realty Clarksville
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Investment Insights
Based on property information with market context.
This 5-unit brick townhome property was built in 1989 and is arranged across two stories. The offering totals 4,368 square feet and sits on 0.55 acres within Clarksville city limits. Major capital improvements were completed in 2025, including a full HVAC replacement in November 2025 and a water heater replacement in May 2025, along with appliance upgrades, plumbing fixture updates, and cosmetic rehab during a four-unit turnover cycle.
All five units are currently occupied at seller-confirmed market rents of $825 to $900 per month. Four of the five units signed new 12-month leases in 2025 following the rehab work. The property is located in Zone X (low flood risk) and is zoned R-4 Multi-Family Residential.
Professional management is in place through PMI Clarksville, and fiber internet is available from three providers: AT&T, CDE Lightband, and Spectrum. The 2025 financials reflect one-time capital expenditure tied to the rehab and turnovers.
All five units are currently occupied at seller-confirmed market rents of $825 to $900 per month. Four of the five units signed new 12-month leases in 2025 following the rehab work. The property is located in Zone X (low flood risk) and is zoned R-4 Multi-Family Residential.
Professional management is in place through PMI Clarksville, and fiber internet is available from three providers: AT&T, CDE Lightband, and Spectrum. The 2025 financials reflect one-time capital expenditure tied to the rehab and turnovers.
Key Highlights
- 5‑unit brick townhome built in 1989 with 4,368 SF across two stories on 0.55 acres in Clarksville city limits.
- Low‑flood‑risk location in Zone X.
- 2025 capital improvements: HVAC fully replaced (Nov 2025, $6,750), water heater replaced (May 2025, $1,464).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,229
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$704,580
$704.6K
Cap Rate 7%
$503,271
$503.3K
Cap Rate 9%
$391,433
$391.4K
Market Conditions
NOI Build-Up for 4,368 SF
Gross rent
$68.1K $15.60/SF
− Vacancy
−$4.1K −$0.94/SF
EGI
$64.1K $14.66/SF
− OpEx
−$28.8K −$6.60/SF
NOI
$35.2K $8.07/SF
Area
Clarksville, TN
Vacancy
6.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$704,580
Cap Rate 7%
$503,271
Cap Rate 9%
$391,433
Alternative Uses
Best Use
Apartment 5plus
$503.3K
$440.4K – $587.2K
NOI $35,229 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$733.2K
$641.6K – $855.4K
NOI $51,326 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Explore this area
Business Placement
Demographics for 37043, TN
52,792
Population
22,221
Households
2.4
Avg Household Size
37
Median Age
43%
College-Educated
97%
High-School Grad
108.5 sq mi
ZIP Area
487
Density / Sq Mi
$91,871
Median Household Income
$46,602
Median Earnings
$1,208
Median Rent
$325,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Five occupied townhome units with major 2025 mechanical and unit-turn upgrades in a low-flood-risk Zone X location.
Where is this apartment building located?
The property is located at 1531 E Knollwood Cir Clarksville, TN.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 5‑unit brick townhome built in 1989 with 4,368 SF across two stories on 0.55 acres in Clarksville city limits.; Low‑flood‑risk location in Zone X.; 2025 capital improvements: HVAC fully replaced (Nov 2025, $6,750), water heater replaced (May 2025, $1,464).
