Remodeled Duplex With Fenced
For Sale
$239,000
3109 Justin Towne Ct, Antioch, TN 37013
Updated duplex featuring granite countertops, stainless steel appliances, and a level fenced backyard without HOA restrictions.
Property Size1,168 SF
Price / SF$204.62
Days on Market30
Property Features for 3109 Justin Towne Ct
General Information
Standard status
Active
Size
1,168 SF
Property subtype
Zero Lot Line
Amenities
Granite Tops
Stainless Steel Appliances
Tile Full bath
Spacious Level Back Fenced Back Yard
Building Details
Year Built
1983
Listing Agency:
Kerr & Co. Realty
(615) 905-1408
Listed By:
Chip Kerr 6155780357 · License #270653
Source:
Midtnhomefinders
Added: Aug 1
Changed: Aug 30
Last Checked: Aug 30 at 12:49AM
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 Kerr & Co. Realty
Investment Insights
Based on property information with market context.
This residential income property is a remodeled duplex with 1,168 square feet and a 1983 construction date. The updated left-side unit features contemporary finishes, including granite countertops, tile in the full bathroom, and stainless steel appliances. The roof was replaced in 2019, adding a recent improvement to the property’s physical profile.
The property includes a spacious, level backyard enclosed by fencing and is located in Antioch, Tennessee. There is no HOA associated with the property.
The property includes a spacious, level backyard enclosed by fencing and is located in Antioch, Tennessee. There is no HOA associated with the property.
Key Highlights
- Remodeled duplex with 1,168 square feet
- Left‑side unit updated with granite countertops and contemporary finishes
- Tile full bathroom and stainless steel appliances
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
$12,974
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
5.43%
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%
$259,480
$259.5K
Cap Rate 7%
$185,343
$185.3K
Cap Rate 9%
$144,156
$144.2K
Market Conditions
NOI Build-Up for 1,168 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
$25.2K $21.60/SF
− Vacancy
−$1.6K −$1.40/SF
EGI
$23.6K $20.20/SF
− OpEx
−$10.6K −$9.09/SF
NOI
$13.0K $11.11/SF
Area
Davidson County, TN
Vacancy
6.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
45.00%
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%
$259,480
Cap Rate 7%
$185,343
Cap Rate 9%
$144,156
Alternative Uses
Best Use
Apartment 5plus
$185.3K
$162.2K – $216.2K
NOI $12,974 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.41M
$1.24M – $1.65M
NOI $98,983 @ 7.0% cap · market cap 41.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
110
Businesses Nearby
Explore this area
Business Placement
Demographics for 37013, TN
96,379
Population
41,112
Households
2.3
Avg Household Size
32
Median Age
30%
College-Educated
84%
High-School Grad
39.2 sq mi
ZIP Area
2,459
Density / Sq Mi
$72,233
Median Household Income
$40,747
Median Earnings
$1,450
Median Rent
$294,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated duplex featuring granite countertops, stainless steel appliances, and a level fenced backyard without HOA restrictions.
Where is this residential income property located?
The property is located at 3109 Justin Towne Ct Antioch, TN.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Remodeled duplex with 1,168 square feet; Left‑side unit updated with granite countertops and contemporary finishes; Tile full bathroom and stainless steel appliances
