4-Unit Renovated
New
For Sale
$399,900
29 Camelot Cove, Jackson, TN 38305
Residential Income, Jackson, TN
Property Size3,458 SF
Price / SF$115.64
Days on Market3
Property Features for 29 Camelot Cove
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
4
Parking features
Open
Appliances
Electric Range, Range Hood, Refrigerator
Elementary school district
Jackson Madison Consolidated District
Standard status
Active
APN
066J A 009.26
Size
3,458 SF
Taxes and HOA fees
Tax Annual Amount
2555
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1975
Floors in Building
2
Number of units
3
Flooring type
Vinyl
Listing Agency:
Town and Country
(731) 668-7000
Listed By:
Kristen Londe · License #329613
(731) 431-2799
Added: Sep 29
Last Checked: Oct 1 at 6:06PM
MLS# 2604582
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.
This 3,458-square-foot quadplex contains four residences, each arranged with two bedrooms and one full bathroom. Kitchens are equipped with electric ranges and refrigerators, and each unit has washer and dryer connections. Vinyl flooring, natural gas heat, and central electric air conditioning serve the property. Public water and sewer are available, with open parking on site.
Built in 1975, the property received renovations within the last five years, including a replacement roof, HVAC equipment, vinyl siding, and windows. The building is on a cul-de-sac with access to the US-45 Bypass and Hollywood Drive; local shopping is nearby.
Built in 1975, the property received renovations within the last five years, including a replacement roof, HVAC equipment, vinyl siding, and windows. The building is on a cul-de-sac with access to the US-45 Bypass and Hollywood Drive; local shopping is nearby.
Key Highlights
- Four units, each with two bedrooms and one full bathroom
- 3,458 square feet; built in 1975
- Renovations within the last 5 years include roof, HVAC, vinyl siding, and windows
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
$19,077
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
4.77%
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%
$381,540
$381.5K
Cap Rate 7%
$272,529
$272.5K
Cap Rate 9%
$211,967
$212.0K
Market Conditions
NOI Build-Up for 3,458 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
$29.5K $8.52/SF
− Vacancy
−$2.2K −$0.64/SF
EGI
$27.3K $7.88/SF
− OpEx
−$8.2K −$2.36/SF
NOI
$19.1K $5.52/SF
Area
Madison County, TN
Vacancy
7.50%
Lease Rate
$8.52 /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%
$381,540
Cap Rate 7%
$272,529
Cap Rate 9%
$211,967
Alternative Uses
Best Use
Multifamily LT 5
$272.5K
$238.5K – $318.0K
NOI $19,077 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$255.3K
$223.4K – $297.8K
NOI $17,868 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$712.1K
$623.1K – $830.8K
NOI $49,845 @ 7.0% cap · market cap 12.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
398
Businesses Nearby
Explore this area
Business Placement
Demographics for 38305, TN
52,686
Population
22,950
Households
2.3
Avg Household Size
40
Median Age
32%
College-Educated
94%
High-School Grad
128.0 sq mi
ZIP Area
412
Density / Sq Mi
$66,292
Median Household Income
$37,416
Median Earnings
$1,201
Median Rent
$221,200
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 - Each residence includes two bedrooms, a full bath, and kitchen appliances.
Where is this quadplex located?
The property is located at 29 Camelot Cove Jackson, TN.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Four units, each with two bedrooms and one full bathroom; 3,458 square feet; built in 1975; Renovations within the last 5 years include roof, HVAC, vinyl siding, and windows
