Duplex with Covered
For Sale
$219,500
450 E Main St, Cookeville, TN 38506
Residential Income, Cookeville, TN
Property Size1,796 SF
Lot Size0.57 Acres
Price / SF$122.22
Days on Market49
Property Features for 450 E Main St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Patio and Porch features
Deck
Interior features
Ceiling Fan(s)
Fencing
Fenced
Basement
Crawl Space
Appliances
Electric Water Heater, Dishwasher, Electric Oven, Refrigerator, Electric Range, Washer, Dryer
Elementary school
Algood Elementary School
Middle school
Algood Middle School
High school
Cookeville High School
Directions
From PCCH: Take E Spring St; L to turn into Hwy 111N towards Algood; R onto E Main St; Property on R with sign.
Subdivision
Algood City Limits
Standard status
Active
APN
026E A 034.00
Size
1,796 SF
Lot size
0.57 Acres
Taxes and HOA fees
Tax Annual Amount
1723
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
2000
Number of units
2
Flooring type
Carpet, Vinyl
Building materials
Frame, Vinyl Siding
Roof type
Composition
Additional Structures
Outbuilding
Listing Agency:
Southern Realty Group LLC #2
(931) 559-7355
Listed By:
Daniel Rediker
(931) 261-6199
Added: Aug 27
Changed: Oct 9
Last Checked: Oct 14 at 1:06PM
MLS# 246763
Copyright © 2026 Upper Cumberland Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2000, this duplex contains 1,796 square feet across two units: one with three bedrooms and two bathrooms, and another with one bedroom and one bathroom. The property sits on a 0.57-acre lot and includes an attached two-car carport, separate driveway areas, and a deck. One unit also has a fenced backyard.
The property is served by public water and a septic system. Interior and building features include central air, electric heat, frame construction, vinyl siding, carpet and vinyl flooring, and ceiling fans. Appliances include a dishwasher, electric oven and range, refrigerator, electric water heater, washer, and dryer.
The property is served by public water and a septic system. Interior and building features include central air, electric heat, frame construction, vinyl siding, carpet and vinyl flooring, and ceiling fans. Appliances include a dishwasher, electric oven and range, refrigerator, electric water heater, washer, and dryer.
Key Highlights
- Two‑unit property with 1,796 square feet
- Unit mix: one 3‑bedroom, 2‑bathroom unit and one 1‑bedroom, 1‑bathroom unit
- 0.57‑acre lot; built in 2000
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,839
Cap Rate
8.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$376,780
$376.8K
Cap Rate 7%
$269,129
$269.1K
Cap Rate 9%
$209,322
$209.3K
Market Conditions
NOI Build-Up for 1,796 SF
Gross rent
$29.1K $16.20/SF
− Vacancy
−$2.2K −$1.22/SF
EGI
$26.9K $14.99/SF
− OpEx
−$8.1K −$4.50/SF
NOI
$18.8K $10.49/SF
Area
Putnam County, TN
Vacancy
7.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$376,780
Cap Rate 7%
$269,129
Cap Rate 9%
$209,322
Alternative Uses
Best Use
Multifamily LT 5
$269.1K
$235.5K – $314.0K
NOI $18,839 @ 7.0% cap · market cap 8.58%
Second Best
Apartment 5plus
$252.5K
$221.0K – $294.6K
NOI $17,676 @ 7.0% cap · market cap 8.05%
Theoretical Best
Office A
$741.2K
$648.6K – $864.8K
NOI $51,887 @ 7.0% cap · market cap 23.64%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
Explore this area
Business Placement
Demographics for 38506, TN
29,976
Population
13,018
Households
2.3
Avg Household Size
42
Median Age
31%
College-Educated
90%
High-School Grad
164.3 sq mi
ZIP Area
182
Density / Sq Mi
$63,051
Median Household Income
$37,589
Median Earnings
$1,032
Median Rent
$256,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences with separate driveway areas and outdoor space at one unit offer a practical two-unit configuration.
Where is this duplex located?
The property is located at 450 E Main St Cookeville, TN.
What is the asking price?
The asking price for this property is $219,500.
What are key features of this property?
This property features: Two‑unit property with 1,796 square feet; Unit mix: one 3‑bedroom, 2‑bathroom unit and one 1‑bedroom, 1‑bathroom unit; 0.57‑acre lot; built in 2000
