Remodeled Tenant-Occupied
For Sale
$145,000
275 Novy Street, Jackson, TN 38301
COMMERCIAL - Jackson, TN
Property Size960 SF
Price / SF$151.04
Days on Market9
Property Features for 275 Novy Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Household Unit
Parking
1
Elementary school district
Jackson Madison Consolidated District
Standard status
Active
APN
077M C 005.04
Size
960 SF
Taxes and HOA fees
Tax Annual Amount
407
Utilities
Water source
Public
Building Details
Year built
1940
Floors in Building
1
Building materials
Vinyl Siding
Listing Agency:
Lilly Realty
(731) 300-4407
Listed By:
Michelle Lilly · License #364924
(731) 267-6945
Added: Jul 22
Changed: Jul 23
Last Checked: Jul 30 at 10:06PM
MLS# 2603477
Copyright © 2026 Central West Tennessee 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.
Investment Insights
Based on property information with market context.
Completely remodeled in 2025, this 3-bedroom, 1-bath home at 275 Novy Street in Jackson is move-in ready. Updates include new flooring, fresh paint, updated lighting, and a remodeled kitchen with new cabinetry, countertops, and appliances. The bathroom has also been renovated.
The property is currently tenant occupied, providing immediate rental income for qualified buyers.
With the recent interior improvements and an in-place tenant, this home is positioned for an owner who wants a residential income property with completed upgrades rather than deferred work.
The property is currently tenant occupied, providing immediate rental income for qualified buyers.
With the recent interior improvements and an in-place tenant, this home is positioned for an owner who wants a residential income property with completed upgrades rather than deferred work.
Key Highlights
- Completely remodeled in 2025, 3‑bedroom, 1‑bath home
- Move‑in ready with new flooring, fresh paint, and updated lighting
- Remodeled kitchen with new cabinetry, countertops, and appliances
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $9.7k | $10.08 |
| − Vacancy | −$658 | −$0.69 |
| EGI | $9.0k | $9.39 |
| − OpEx | −$4.1k | −$4.23 |
| NOI | $5.0k | $5.17 |
960 SF · lease $10.08/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$70.9K
$62.0K – $82.7K
NOI $4,960 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$197.7K
$173.0K – $230.6K
NOI $13,838 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
Explore this area
Business Placement
Demographics for 38301, TN
34,170
Population
15,769
Households
2.2
Avg Household Size
37
Median Age
16%
College-Educated
85%
High-School Grad
150.9 sq mi
ZIP Area
226
Density / Sq Mi
$40,062
Median Household Income
$28,542
Median Earnings
$958
Median Rent
$119,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Completely remodeled in 2025, this 3-bedroom, 1-bath home is tenant occupied and move-in ready.
Where is this single family property located?
The property is located at 275 Novy Street Jackson, TN.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: Completely remodeled in 2025, 3‑bedroom, 1‑bath home; Move‑in ready with new flooring, fresh paint, and updated lighting; Remodeled kitchen with new cabinetry, countertops, and appliances
