2-Bedroom
For Sale
$409,500
40 Carolane Dr, Jackson, TN 38305
Four separate residences provide consistent two-bedroom layouts with one-and-a-half bathrooms in each unit.
Property Size4,960 SF
Price / SF$82.56
Days on Market53
Property Features for 40 Carolane Dr
General Information
Standard status
Active
Size
4,960 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Additional Details
Gross Income
$46,800
Building Details
Year Built
1975
Listing Agency:
Dyad Real Estate and Property Management
(931) 451-8111
Listed By:
Bryan Jones
Source:
Grayfoxrealty
Added: Jul 10
Changed: Aug 30
Last Checked: Aug 30 at 8:54PM
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 Dyad Real Estate and Property Management
Investment Insights
Based on property information with market context.
Located at 40 Carolane Dr in Jackson, TN 38305, this quadplex contains four separate residential units within a 4,960-square-foot building. Each residence includes two bedrooms and one-and-a-half bathrooms, creating a consistent unit configuration across the property.
Constructed in 1975, the property is positioned in Jackson, Tennessee, and is offered as a multifamily asset. The uniform floor plans simplify property-level planning while providing four distinct living spaces within one building.
Constructed in 1975, the property is positioned in Jackson, Tennessee, and is offered as a multifamily asset. The uniform floor plans simplify property-level planning while providing four distinct living spaces within one building.
Key Highlights
- Four separate residential units in one quadplex
- Each unit includes 2 bedrooms and 1.5 bathrooms
- 4,960 square feet
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
$27,363
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
6.68%
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%
$547,260
$547.3K
Cap Rate 7%
$390,900
$390.9K
Cap Rate 9%
$304,033
$304.0K
Market Conditions
NOI Build-Up for 4,960 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
$42.3K $8.52/SF
− Vacancy
−$3.2K −$0.64/SF
EGI
$39.1K $7.88/SF
− OpEx
−$11.7K −$2.36/SF
NOI
$27.4K $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%
$547,260
Cap Rate 7%
$390,900
Cap Rate 9%
$304,033
Alternative Uses
Best Use
Multifamily LT 5
$390.9K
$342.0K – $456.1K
NOI $27,363 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$366.1K
$320.4K – $427.1K
NOI $25,628 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$1.02M
$893.7K – $1.19M
NOI $71,495 @ 7.0% cap · market cap 17.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
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
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 - Four separate residences provide consistent two-bedroom layouts with one-and-a-half bathrooms in each unit.
Where is this quadplex located?
The property is located at 40 Carolane Dr Jackson, TN.
What is the asking price?
The asking price for this property is $409,500.
What are key features of this property?
This property features: Four separate residential units in one quadplex; Each unit includes 2 bedrooms and 1.5 bathrooms; 4,960 square feet
