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 Market28
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
(931) 368-3817
Listed By:
Kayla Gunter
Source:
Shearonsellsteam
Added: Aug 5
Changed: Aug 30
Last Checked: Aug 31 at 7:26PM
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
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 = 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
$36,128
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
6.13%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
200
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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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
