Separately Metered
20 W Borden St, Cookeville, TN 38501
For Sale
$450,000
Residential Income, Cookeville, TN
Property Size2,200 SF
Lot Size0.29 Acres
Price / SF$204.55
Days on Market52
Property Features for 20 W Borden St
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Patio and Porch features
Appliances
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
washer/dryer hookups
large back deck
shared yard
Building Details
Year built
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
NextHome Investment
(931) 345-3954
Listed By:
Odnie Chua · License TN #365077
(931) 267-7275
Added: Sep 22
Changed: Nov 3
Last Checked: Nov 12 at 7:06AM
MLS# 246488
Copyright © 2026 Upper Cumberland Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This two-unit residential property, built in 1996, sits on a 0.2948-acre lot in Cookeville. Each side has three bedrooms and two full bathrooms, vinyl flooring throughout, and washer and dryer hookups. Electric and water are separately metered for each unit. The property has central air, electric heat, a metal roof, and a deck.
Unit A received a renovation in July 2026, including kitchen cabinets and countertops, flooring, a guest-bath vanity, and a back deck. Its third bedroom has two closets and a private full bath. Unit B is undergoing renovations, with availability expected January 1, 2027; it has the same three-bedroom, two-bath layout and shares use of the yard. Public water and sewer serve the property.
Unit A received a renovation in July 2026, including kitchen cabinets and countertops, flooring, a guest-bath vanity, and a back deck. Its third bedroom has two closets and a private full bath. Unit B is undergoing renovations, with availability expected January 1, 2027; it has the same three-bedroom, two-bath layout and shares use of the yard. Public water and sewer serve the property.
Key Highlights
- Two residences, each with 3 bedrooms and 2 full baths
- 0.2948‑acre lot in Cookeville
- Unit A renovation completed in July 2026; Unit B expected to be available January 1, 2027
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
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See the owner, sales and loan history
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Lease Details
2
Residential units
Yes
Utilities to site
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have three bedrooms, two full baths, laundry hookups, and separately metered electric and water.
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 residences, each with 3 bedrooms and 2 full baths; 0.2948‑acre lot in Cookeville; Unit A renovation completed in July 2026; Unit B expected to be available January 1, 2027
