Renovated Four-Unit
For Sale
$435,000
23 Proctor Dr, Clarksville, TN 37043
Renovated income property with full kitchens, living areas, and in-unit laundry throughout.
Property Size1,920 SF
Price / SF$226.56
Days on Market47
Property Features for 23 Proctor Dr
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Amenities
in-unit laundry
Building Details
Year Built
1960
Buildings
1
Listing Agency:
Provision Realty Group
Listed By:
Whitley Battles Smith · License #376229
(615) 513-7992
Source:
Fiddletreerealty
Added: Sep 15
Changed: Oct 26
Last Checked: Oct 30 at 7:23PM
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 Provision Realty Group
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Investment Insights
Based on property information with market context.
This quadplex contains four one-bedroom, one-bath residences within 1,920 square feet. Each unit includes a full kitchen, dedicated living space, and in-unit laundry. The property was built in 1960 and has undergone renovations throughout, providing an updated multifamily configuration.
Located in Clarksville near Madison St, the property offers access to I-24 along with nearby shopping, dining, and other Clarksville amenities. A neighboring quadplex is also available, creating a potential package acquisition totaling eight units between both properties.
Located in Clarksville near Madison St, the property offers access to I-24 along with nearby shopping, dining, and other Clarksville amenities. A neighboring quadplex is also available, creating a potential package acquisition totaling eight units between both properties.
Key Highlights
- Four 1‑bedroom, 1‑bath units
- 1,920 square feet of building area
- Full kitchen and living space in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,342
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$346,840
$346.8K
Cap Rate 7%
$247,743
$247.7K
Cap Rate 9%
$192,689
$192.7K
Market Conditions
NOI Build-Up for 1,920 SF
Gross rent
$26.5K $13.80/SF
− Vacancy
−$1.7K −$0.90/SF
EGI
$24.8K $12.90/SF
− OpEx
−$7.4K −$3.87/SF
NOI
$17.3K $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 Rate 5%
$346,840
Cap Rate 7%
$247,743
Cap Rate 9%
$192,689
Alternative Uses
Best Use
Multifamily LT 5
$247.7K
$216.8K – $289.0K
NOI $17,342 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$221.2K
$193.6K – $258.1K
NOI $15,485 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$322.3K
$282.0K – $376.0K
NOI $22,561 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
922
Businesses Nearby
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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?
Quadplex - Renovated income property with full kitchens, living areas, and in-unit laundry throughout.
Where is this quadplex located?
The property is located at 23 Proctor Dr Clarksville, TN.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bath units; 1,920 square feet of building area; Full kitchen and living space in each unit
