Renovated Two-Home Multifamily
404 Green Acres Dr, Columbia, TN 38401
For Sale
$429,000
Two detached residences offer separate utilities and flexible living or rental arrangements on one parcel.
Property Size1,780 SF
Price / SF$241.01
Days on Market50
Property Features for 404 Green Acres Dr
General Information
Standard status
Size
Property subtype
Additional Details
Utilities to Site
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
United Country - Columbia Realty & Auction
Listed By:
Tammy Body · License #317947
(931) 698-8418
Source:
Fykesrealtygroup
Added: Sep 21
Changed: Oct 25
Last Checked: Oct 7 at 1:08PM
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 United Country - Columbia Realty & Auction
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Investment Insights
Based on property information with market context.
This multifamily property includes two detached residences totaling 1,780 square feet on a single lot. The larger 1,180-square-foot home has hardwood flooring, Hardy board siding, replacement windows, updated fixtures, refreshed countertops, and renovated bathroom vanities. A second 600-square-foot residence adds a new roof, HVAC unit, exterior siding, windows, fixtures, and bathroom vanity. Both homes have been substantially updated, and each has its own utility service.
Built in 1940, the property is located at 404 Green Acres Dr in Columbia, Tennessee. A gravel driveway serves the homes. The two-building layout supports separate household occupancy and provides flexibility for multigenerational use or rental operations, subject to applicable requirements.
Built in 1940, the property is located at 404 Green Acres Dr in Columbia, Tennessee. A gravel driveway serves the homes. The two-building layout supports separate household occupancy and provides flexibility for multigenerational use or rental operations, subject to applicable requirements.
Key Highlights
- Two detached homes on one lot totaling 1,780 sq ft
- Main residence measures 1,180 sq ft
- Second residence measures 600 sq ft
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,159
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,180
$303.2K
Cap Rate 7%
$216,557
$216.6K
Cap Rate 9%
$168,433
$168.4K
Market Conditions
NOI Build-Up for 1,780 SF
Gross rent
$28.0K $15.72/SF
− Vacancy
−$420 −$0.24/SF
EGI
$27.6K $15.48/SF
− OpEx
−$12.4K −$6.97/SF
NOI
$15.2K $8.52/SF
Area
Maury County, TN
Vacancy
1.50%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,180
Cap Rate 7%
$216,557
Cap Rate 9%
$168,433
Alternative Uses
Best Use
Apartment 5plus
$216.6K
$189.5K – $252.7K
NOI $15,159 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$459.2K
$401.8K – $535.7K
NOI $32,143 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
592
Businesses Nearby
Explore this area
Business Placement
Demographics for 38401, TN
63,075
Population
28,470
Households
2.2
Avg Household Size
40
Median Age
24%
College-Educated
92%
High-School Grad
296.7 sq mi
ZIP Area
213
Density / Sq Mi
$69,467
Median Household Income
$42,314
Median Earnings
$1,084
Median Rent
$295,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two detached residences offer separate utilities and flexible living or rental arrangements on one parcel.
Where is this multifamily property located?
The property is located at 404 Green Acres Dr Columbia, TN.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Two detached homes on one lot totaling 1,780 sq ft; Main residence measures 1,180 sq ft; Second residence measures 600 sq ft
