Four-Unit Quadplex with New
For Sale
$589,000
371 Peabody Dr, Clarksville, TN 37042
Each residence includes an eat-in kitchen, spacious living area, and functional 1.5-bath layout.
Property Size4,000 SF
Price / SF$147.25
Days on Market73
Property Features for 371 Peabody Dr
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Multi-Family
Occupancy
50%
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Amenities
trash service
lawn care
Building Details
Year Built
1994
Listing Agency:
Century 21 Platinum Properties
Listed By:
Kayla Gunter
(931) 368-3817
Source:
Shearonsellsteam
Added: Aug 5
Changed: Oct 3
Last Checked: Oct 7 at 3:17PM
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 Century 21 Platinum Properties
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Investment Insights
Based on property information with market context.
This 4,000 SF quadplex contains four residential units, each configured with 2 bedrooms and 1.5 baths. Interior features include spacious living areas and eat-in kitchens, providing a consistent layout across the property. The building was constructed in 1994 and received a new roof in 2025.
The property is currently 50% occupied, with two units occupied and two available based on the stated occupancy. Trash service and lawn care are included for residents. The property has remained pet-free and has been consistently maintained, with no deferred-maintenance concerns identified in the available information.
Located at 371 Peabody Dr in Clarksville, TN, the asset offers a uniform four-unit configuration for multifamily ownership.
The property is currently 50% occupied, with two units occupied and two available based on the stated occupancy. Trash service and lawn care are included for residents. The property has remained pet-free and has been consistently maintained, with no deferred-maintenance concerns identified in the available information.
Located at 371 Peabody Dr in Clarksville, TN, the asset offers a uniform four-unit configuration for multifamily ownership.
Key Highlights
- Four‑unit quadplex with 4,000 SF of total property size
- Each unit includes 2 bedrooms and 1.5 baths
- New roof completed in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,128
Cap Rate
6.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$722,560
$722.6K
Cap Rate 7%
$516,114
$516.1K
Cap Rate 9%
$401,422
$401.4K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$55.2K $13.80/SF
− Vacancy
−$3.6K −$0.90/SF
EGI
$51.6K $12.90/SF
− OpEx
−$15.5K −$3.87/SF
NOI
$36.1K $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%
$722,560
Cap Rate 7%
$516,114
Cap Rate 9%
$401,422
Alternative Uses
Best Use
Multifamily LT 5
$516.1K
$451.6K – $602.1K
NOI $36,128 @ 7.0% cap · market cap 6.13%
Second Best
Apartment 5plus
$460.9K
$403.3K – $537.7K
NOI $32,261 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$671.5K
$587.5K – $783.4K
NOI $47,002 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
200
Businesses Nearby
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Business Placement
Demographics for 37042, TN
83,498
Population
35,433
Households
2.4
Avg Household Size
29
Median Age
26%
College-Educated
94%
High-School Grad
56.9 sq mi
ZIP Area
1,467
Density / Sq Mi
$66,435
Median Household Income
$38,716
Median Earnings
$1,196
Median Rent
$220,700
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
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence includes an eat-in kitchen, spacious living area, and functional 1.5-bath layout.
Where is this quadplex located?
The property is located at 371 Peabody Dr Clarksville, TN.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Four‑unit quadplex with 4,000 SF of total property size; Each unit includes 2 bedrooms and 1.5 baths; New roof completed in 2025
