10-Unit Apartment
4819 Highway 49 W, Vanleer, TN 37181
For Sale
$1,225,000
Fully occupied small-town property with one- and two-bedroom units and utilities currently provided.
Property Size6,400 SF
Price / SF$191.41
Days on Market97
Property Features for 4819 Highway 49 W
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Listing Agency:
The Realty Association
Listed By:
Julie Hasley Coone
(615) 613-3252
Source:
Fiddletreerealty
Added: Aug 8
Changed: Oct 26
Last Checked: Nov 10 at 10:58AM
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 The Realty Association
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Investment Insights
Based on property information with market context.
This 6,400-square-foot apartment property in Vanleer includes 10 units: 9 with one bedroom and one bathroom, plus 1 with two bedrooms and one bathroom. The unit mix provides compact residential accommodations within a small-town multifamily setting, with long-term tenancy in place.
Weekly rentals are currently offered, and utilities provided include water and electric, with gas water heaters noted. Occupancy is reported at 100%. The property is located at 4819 Highway 49 W in Vanleer, Tennessee. The resident profile is divided between Housing Authority participation and private tenancy, with 40% attributed to the Housing Authority and 60% private.
Weekly rentals are currently offered, and utilities provided include water and electric, with gas water heaters noted. Occupancy is reported at 100%. The property is located at 4819 Highway 49 W in Vanleer, Tennessee. The resident profile is divided between Housing Authority participation and private tenancy, with 40% attributed to the Housing Authority and 60% private.
Key Highlights
- 10‑unit apartment property totaling 6,400 square feet
- Unit mix includes 9 one‑bedroom, one‑bath units and 1 two‑bedroom, one‑bath unit
- 100% occupancy reported
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,558
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,491,160
$1.5M
Cap Rate 7%
$1,065,114
$1.1M
Cap Rate 9%
$828,422
$828.4K
Market Conditions
NOI Build-Up for 6,400 SF
Gross rent
$145.9K $22.80/SF
− Vacancy
−$10.4K −$1.62/SF
EGI
$135.6K $21.18/SF
− OpEx
−$61.0K −$9.53/SF
NOI
$74.6K $11.65/SF
Area
Dickson County, TN
Vacancy
7.10%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,491,160
Cap Rate 7%
$1,065,114
Cap Rate 9%
$828,422
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$932.0K – $1.24M
NOI $74,558 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.65M
$1.44M – $1.93M
NOI $115,569 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
10
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 37181, TN
1,509
Population
748
Households
2
Avg Household Size
43
Median Age
15%
College-Educated
81%
High-School Grad
52.3 sq mi
ZIP Area
29
Density / Sq Mi
$64,583
Median Household Income
$33,579
Median Earnings
$722
Median Rent
$172,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied small-town property with one- and two-bedroom units and utilities currently provided.
Where is this apartment building located?
The property is located at 4819 Highway 49 W Vanleer, TN.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: 10‑unit apartment property totaling 6,400 square feet; Unit mix includes 9 one‑bedroom, one‑bath units and 1 two‑bedroom, one‑bath unit; 100% occupancy reported
