Renovated Duplex with
For Sale
$450,000
20 W Borden St, Cookeville, TN 38501
Two leased residences offer updated finishes, private outdoor space, and separately metered utilities near downtown Cookeville.
Property Size2,200 SF
Price / SF$204.55
Days on Market63
Property Features for 20 W Borden St
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
washer/dryer hookups
large back deck
yard
Building Details
Year Built
1996
Year Renovated
2026
Buildings
1
Tenancy
Multi
Listing Agency:
NextHome investment
Listed By:
Odnie Chua · License #365077,PersonLicenseNumber
(931) 267-7275
Source:
Grayfoxrealty
Added: Aug 18
Changed: Oct 17
Last Checked: Oct 7 at 1:53PM
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 NextHome investment
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Investment Insights
Based on property information with market context.
This 2,200-square-foot duplex, built in 1996, contains two fully leased residences. Each unit measures 1,110 square feet and includes three bedrooms, two full bathrooms, LVP/LVT flooring throughout, and washer/dryer hookups. Electric and water are separately metered for each side. Unit A received a full renovation in July 2026, including new kitchen cabinetry and countertops, refreshed flooring, a guest-bath vanity upgrade, and a new large rear deck. Its third bedroom has suite-style privacy with two closets and a dedicated full bathroom.
Unit B has fresh paint and updated flooring completed in 2023, along with the same three-bedroom, two-bath configuration. The property also includes shared yard space and is located minutes from downtown Cookeville at 20 W Borden St.
Unit B has fresh paint and updated flooring completed in 2023, along with the same three-bedroom, two-bath configuration. The property also includes shared yard space and is located minutes from downtown Cookeville at 20 W Borden St.
Key Highlights
- Two fully leased 3BR/2BA units in a 2,200‑square‑foot duplex
- Each residence provides 1,110 square feet of living area
- Unit A renovation completed in July 2026 with new cabinets, countertops, flooring, vanity, and large rear deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,077
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$461,540
$461.5K
Cap Rate 7%
$329,671
$329.7K
Cap Rate 9%
$256,411
$256.4K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$35.6K $16.20/SF
− Vacancy
−$2.7K −$1.22/SF
EGI
$33.0K $14.99/SF
− OpEx
−$9.9K −$4.50/SF
NOI
$23.1K $10.49/SF
Area
Putnam County, TN
Vacancy
7.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$461,540
Cap Rate 7%
$329,671
Cap Rate 9%
$256,411
Alternative Uses
Best Use
Multifamily LT 5
$329.7K
$288.5K – $384.6K
NOI $23,077 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$309.3K
$270.7K – $360.9K
NOI $21,652 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$908.0K
$794.5K – $1.06M
NOI $63,559 @ 7.0% cap · market cap 14.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,613
Businesses Nearby
Explore this area
Business Placement
Demographics for 38501, TN
41,141
Population
19,158
Households
2.1
Avg Household Size
33
Median Age
31%
College-Educated
88%
High-School Grad
87.1 sq mi
ZIP Area
472
Density / Sq Mi
$50,923
Median Household Income
$30,191
Median Earnings
$856
Median Rent
$245,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two leased residences offer updated finishes, private outdoor space, and separately metered utilities near downtown Cookeville.
Where is this duplex located?
The property is located at 20 W Borden St Cookeville, TN.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two fully leased 3BR/2BA units in a 2,200‑square‑foot duplex; Each residence provides 1,110 square feet of living area; Unit A renovation completed in July 2026 with new cabinets, countertops, flooring, vanity, and large rear deck
