Duplex with Detached
New
For Sale
$299,000
428 Shelby St, Clarksville, TN 37042
Two separate residences each have a full kitchen, with a detached garage and storage shed on the property.
Property Size2,321 SF
Price / SF$128.82
Days on Market7
Property Features for 428 Shelby St
General Information
Standard status
Active
Size
2,321 SF
Total Parking Spaces
3
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Amenities
storage shed
Building Details
Year Built
1955
Buildings
1
Listing Agency:
Keller Williams Realty Clarksville
Listed By:
Jaime Wallace 9313201358 · License #322065
(931) 320-1358
Source:
Smokymountainareahomefinder
Added: Oct 15
Changed: Oct 21
Last Checked: Oct 21 at 2:19AM
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 Clarksville
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Investment Insights
Based on property information with market context.
This 1955 duplex contains 2,321 square feet, with one residence on the main level and a second in the basement. Both units have full kitchens. A washer and dryer convey with unit 2, and the property also includes a detached three-car garage, two driveways, and a storage shed. HVAC is three years old.
Located at 428 Shelby St in Clarksville, Tennessee, the property occupies a double lot.
Located at 428 Shelby St in Clarksville, Tennessee, the property occupies a double lot.
Key Highlights
- 2,321‑square‑foot duplex with one unit on each level
- Detached three‑car garage and two driveways
- Full kitchens in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,964
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$419,280
$419.3K
Cap Rate 7%
$299,486
$299.5K
Cap Rate 9%
$232,933
$232.9K
Market Conditions
NOI Build-Up for 2,321 SF
Gross rent
$32.0K $13.80/SF
− Vacancy
−$2.1K −$0.90/SF
EGI
$29.9K $12.90/SF
− OpEx
−$9.0K −$3.87/SF
NOI
$21.0K $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%
$419,280
Cap Rate 7%
$299,486
Cap Rate 9%
$232,933
Alternative Uses
Best Use
Multifamily LT 5
$299.5K
$262.1K – $349.4K
NOI $20,964 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$267.4K
$234.0K – $312.0K
NOI $18,719 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$389.6K
$340.9K – $454.6K
NOI $27,273 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
409
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences each have a full kitchen, with a detached garage and storage shed on the property.
Where is this duplex located?
The property is located at 428 Shelby St Clarksville, TN.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 2,321‑square‑foot duplex with one unit on each level; Detached three‑car garage and two driveways; Full kitchens in both units
