Quadplex with Unfinished
For Sale
$560,000
1681 Baltimore Dr, Clarksville, TN 37043
Four residential units include laminate flooring, kitchen appliances, and rear decks.
Property Size3,858 SF
Price / SF$145.15
Days on Market13
Property Features for 1681 Baltimore Dr
General Information
Standard status
Active
Size
3,858 SF
Property subtype
Residential Income
Amenities
durable laminate flooring
kitchen appliances
deck in the back
Building Details
Year Built
1989
Tenancy
Multi
Listing Agency:
SimpliHOM
Listed By:
Christie Cooper 7312200778
(731) 220-0778
Source:
Midtnhomefinders
Added: Sep 20
Changed: Oct 1
Last Checked: Oct 1 at 12:11PM
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 SimpliHOM
Investment Insights
Based on property information with market context.
This 3,858-square-foot quadplex was built in 1989 and has four residential units. Interior features include laminate flooring and kitchen appliances, with a deck at the back of each unit. Unit D is vacant, while the other units are occupied. An 875-square-foot unfinished basement provides additional storage space; the area may also offer potential for conversion to a studio, subject to applicable requirements.
Key Highlights
- Four‑unit residential property
- 3,858 square feet; built in 1989
- 875‑square‑foot unfinished basement for storage or potential studio conversion
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
$34,846
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
6.22%
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%
$696,920
$696.9K
Cap Rate 7%
$497,800
$497.8K
Cap Rate 9%
$387,178
$387.2K
Market Conditions
NOI Build-Up for 3,858 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
$53.2K $13.80/SF
− Vacancy
−$3.5K −$0.90/SF
EGI
$49.8K $12.90/SF
− OpEx
−$14.9K −$3.87/SF
NOI
$34.8K $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%
$696,920
Cap Rate 7%
$497,800
Cap Rate 9%
$387,178
Alternative Uses
Best Use
Multifamily LT 5
$497.8K
$435.6K – $580.8K
NOI $34,846 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$444.5K
$389.0K – $518.6K
NOI $31,116 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$647.6K
$566.7K – $755.6K
NOI $45,333 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units include laminate flooring, kitchen appliances, and rear decks.
Where is this quadplex located?
The property is located at 1681 Baltimore Dr Clarksville, TN.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Four‑unit residential property; 3,858 square feet; built in 1989; 875‑square‑foot unfinished basement for storage or potential studio conversion
