2-Unit New Construction
New
For Sale
$510,000
407 Cook Dr, Clarksville, TN 37042
Two separate residences provide three bedrooms, two-and-a-half baths, and an outdoor deck per unit.
Property Size2,576 SF
Price / SF$197.98
Days on Market5
Property Features for 407 Cook Dr
General Information
Standard status
Active
Size
2,576 SF
Property subtype
Multi-Family
Building Details
Year Built
2026
Listing Agency:
Keller Williams Realty
(931) 237-1830
Listed By:
Karen Blick, Johnathan Wyatt Blick · License #336095
Source:
Grayfoxrealty
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 29 at 4:57PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
Completed as new construction in 2026, this duplex contains two fully independent condominium residences within 2,576 SF. Each side includes three bedrooms, two-and-a-half baths, an outdoor deck, and custom-designed finishes throughout.
The property is situated in North Clarksville, minutes from Fort Campbell and downtown Clarksville. Its two-residence configuration supports an owner-occupant arrangement with one side leased separately, or leasing both units under long-, mid-, or short-term arrangements as permitted by applicable rules.
The property is situated in North Clarksville, minutes from Fort Campbell and downtown Clarksville. Its two-residence configuration supports an owner-occupant arrangement with one side leased separately, or leasing both units under long-, mid-, or short-term arrangements as permitted by applicable rules.
Key Highlights
- Two independent condominium residences in one duplex
- 2,576 SF property size
- Each unit includes 3 bedrooms and 2.5 baths
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
$23,267
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
4.56%
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%
$465,340
$465.3K
Cap Rate 7%
$332,386
$332.4K
Cap Rate 9%
$258,522
$258.5K
Market Conditions
NOI Build-Up for 2,576 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
$35.5K $13.80/SF
− Vacancy
−$2.3K −$0.90/SF
EGI
$33.2K $12.90/SF
− OpEx
−$10.0K −$3.87/SF
NOI
$23.3K $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%
$465,340
Cap Rate 7%
$332,386
Cap Rate 9%
$258,522
Alternative Uses
Best Use
Multifamily LT 5
$332.4K
$290.8K – $387.8K
NOI $23,267 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$296.8K
$259.7K – $346.3K
NOI $20,776 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$432.4K
$378.4K – $504.5K
NOI $30,269 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
90
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?
Duplex - Two separate residences provide three bedrooms, two-and-a-half baths, and an outdoor deck per unit.
Where is this duplex located?
The property is located at 407 Cook Dr Clarksville, TN.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Two independent condominium residences in one duplex; 2,576 SF property size; Each unit includes 3 bedrooms and 2.5 baths
