Four-Unit Residential
New
For Sale
$475,000
50 Gibson Ave, Cookeville, TN 38501
Four three-bedroom residences provide a consistent layout across the property.
Property Size3,584 SF
Price / SF$132.53
Days on Market5
Property Features for 50 Gibson Ave
General Information
Standard status
Active
Size
3,584 SF
Financials
Gross Income
$44,400
Average Monthly Rent
$925
Units
Unit Mix
4 x 3BR/1BA
Multifamily Units
4
Building Details
Year Built
1988
Listing Agency:
Highlands Elite Real Estate
Listed By:
Chad D. Crouch 9319791191 · License #00271797
(931) 979-1191
Source:
Nashvillehouses
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 2:27PM
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 Highlands Elite Real Estate
Investment Insights
Based on property information with market context.
This 1988 residential income property contains four separate units, each configured with three bedrooms and one bathroom. The building encompasses 3,584 square feet and is located in Cookeville, Tennessee.
The four-unit configuration offers a uniform bedroom and bathroom layout throughout the property.
The four-unit configuration offers a uniform bedroom and bathroom layout throughout the property.
Key Highlights
- Four units, each with 3 bedrooms and 1 bathroom
- 3,584 square feet
- Built in 1988
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
$37,594
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
7.91%
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%
$751,880
$751.9K
Cap Rate 7%
$537,057
$537.1K
Cap Rate 9%
$417,711
$417.7K
Market Conditions
NOI Build-Up for 3,584 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
$58.1K $16.20/SF
− Vacancy
−$4.4K −$1.22/SF
EGI
$53.7K $14.99/SF
− OpEx
−$16.1K −$4.50/SF
NOI
$37.6K $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 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%
$751,880
Cap Rate 7%
$537,057
Cap Rate 9%
$417,711
Alternative Uses
Best Use
Multifamily LT 5
$537.1K
$469.9K – $626.6K
NOI $37,594 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$503.9K
$440.9K – $587.9K
NOI $35,273 @ 7.0% cap · market cap 7.43%
Theoretical Best
Office A
$1.48M
$1.29M – $1.73M
NOI $103,543 @ 7.0% cap · market cap 21.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
810
Businesses Nearby
Explore this area
Business Placement
Demographics for 38501, TN
41,141
Population
19,158
Households
2.1
Avg Household Size
33
Median Age
31%
College-Educated
88%
High-School Grad
87.1 sq mi
ZIP Area
472
Density / Sq Mi
$50,923
Median Household Income
$30,191
Median Earnings
$856
Median Rent
$245,100
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four three-bedroom residences provide a consistent layout across the property.
Where is this quadplex located?
The property is located at 50 Gibson Ave Cookeville, TN.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Four units, each with 3 bedrooms and 1 bathroom; 3,584 square feet; Built in 1988
