Four-Unit Apartment
For Sale
$350,000
5102 Dodson Branch Rd, Cookeville, TN 38501
All residences are occupied, with a one-bedroom, one-bathroom layout in each unit.
Property Size2,500 SF
Price / SF$140
Days on Market11
Property Features for 5102 Dodson Branch Rd
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Residential Income
Building Details
Year Built
1993
Listing Agency:
Highlands Elite Real Estate
Listed By:
Chad D. Crouch 9319791191 · License #00271797
(931) 979-1191
Source:
Nashvillehomefinderonline
Added: Sep 21
Changed: Sep 28
Last Checked: Oct 1 at 11:33AM
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 2,500-square-foot multifamily property contains four units, each configured with one bedroom and one bathroom. Built in 1993, the building offers a compact residential layout across its four apartments.
The property is on Dodson Branch Road in Cookeville, in Putnam County, a few miles north of Tennessee Tech University. All four units are occupied.
The property is on Dodson Branch Road in Cookeville, in Putnam County, a few miles north of Tennessee Tech University. All four units are occupied.
Key Highlights
- Four units, each with 1 bedroom and 1 bathroom
- 2,500 square feet
- Built in 1993
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
$26,224
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
7.49%
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%
$524,480
$524.5K
Cap Rate 7%
$374,629
$374.6K
Cap Rate 9%
$291,378
$291.4K
Market Conditions
NOI Build-Up for 2,500 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
$40.5K $16.20/SF
− Vacancy
−$3.0K −$1.22/SF
EGI
$37.5K $14.99/SF
− OpEx
−$11.2K −$4.50/SF
NOI
$26.2K $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%
$524,480
Cap Rate 7%
$374,629
Cap Rate 9%
$291,378
Alternative Uses
Best Use
Multifamily LT 5
$374.6K
$327.8K – $437.1K
NOI $26,224 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$351.5K
$307.6K – $410.1K
NOI $24,605 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$1.03M
$902.8K – $1.20M
NOI $72,226 @ 7.0% cap · market cap 20.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6
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 - All residences are occupied, with a one-bedroom, one-bathroom layout in each unit.
Where is this quadplex located?
The property is located at 5102 Dodson Branch Rd Cookeville, TN.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Four units, each with 1 bedroom and 1 bathroom; 2,500 square feet; Built in 1993
