Tenant-Occupied
For Sale
$160,000
338 W King Street, Jackson, TN 38301
Residential Income, Jackson, TN
Property Size2,052 SF
Lot Size0.30 Acres
Price / SF$77.97
Days on Market30
Property Features for 338 W King Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
2
Elementary school district
Jackson Madison Consolidated District
Standard status
Active
APN
078H T 027.00
Size
2,052 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Annual Amount
602
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1910
Floors in Building
1
Number of units
3
Listing Agency:
Coldwell Banker Southern Realty · Coldwell Banker Real Estate
(731) 668-1777
Listed By:
Andrew Houston · License #354503
(731) 313-7355
Added: Aug 4
Changed: Aug 19
Last Checked: Sep 2 at 9:06PM
MLS# 2603673
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 duplex comprises 2,052 square feet on a 0.3-acre lot and was built in 1910. The property is currently tenant occupied and is served by public water and public sewer.
Located in downtown Jackson at 338 W King Street, the property is near the Amp, Farmers Market, Dog Park, and The Lift.
Located in downtown Jackson at 338 W King Street, the property is near the Amp, Farmers Market, Dog Park, and The Lift.
Key Highlights
- 2,052‑square‑foot duplex on 0.3 acres
- Currently tenant occupied
- Built in 1910
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
$11,320
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
7.07%
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%
$226,400
$226.4K
Cap Rate 7%
$161,714
$161.7K
Cap Rate 9%
$125,778
$125.8K
Market Conditions
NOI Build-Up for 2,052 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
$17.5K $8.52/SF
− Vacancy
−$1.3K −$0.64/SF
EGI
$16.2K $7.88/SF
− OpEx
−$4.9K −$2.36/SF
NOI
$11.3K $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%
$226,400
Cap Rate 7%
$161,714
Cap Rate 9%
$125,778
Alternative Uses
Best Use
Multifamily LT 5
$161.7K
$141.5K – $188.7K
NOI $11,320 @ 7.0% cap · market cap 7.07%
Second Best
Apartment 5plus
$151.5K
$132.5K – $176.7K
NOI $10,603 @ 7.0% cap · market cap 6.63%
Theoretical Best
Office A
$422.5K
$369.7K – $493.0K
NOI $29,578 @ 7.0% cap · market cap 18.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
397
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with existing occupants and public water and sewer service.
Where is this duplex located?
The property is located at 338 W King Street Jackson, TN.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: 2,052‑square‑foot duplex on 0.3 acres; Currently tenant occupied; Built in 1910
