Leased Duplex on Corner
For Sale
$389,999
517 Woods Dr, Columbia, TN 38401
Well-maintained duplex with two leased units and off-street parking on a large corner lot.
Property Size1,625 SF
Price / SF$239
Days on Market147
Property Features for 517 Woods Dr
General Information
Standard status
Active
Size
1,625 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Year Built
1985
Listing Agency:
United Country - Columbia Realty & Auction
Listed By:
Jake Grizzard
Source:
Fiddletreerealty
Added: May 27
Changed: Oct 2
Last Checked: Oct 19 at 9:17AM
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 United Country - Columbia Realty & Auction
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Investment Insights
Based on property information with market context.
517 Woods Dr is a well-maintained duplex situated on a large corner lot. The property consists of two separate units, and each side features a 2-bedroom, 1-bath layout with functional floor plans.
Both units are currently leased, providing immediate occupancy. Off-street parking is available for tenants, supporting convenient day-to-day access.
With the duplex in place and both sides occupied, the property is positioned for an investor seeking an income-producing residential income asset with low exterior maintenance requirements. Showings are available with 48 hours’ notice; please do not disturb tenants.
Both units are currently leased, providing immediate occupancy. Off-street parking is available for tenants, supporting convenient day-to-day access.
With the duplex in place and both sides occupied, the property is positioned for an investor seeking an income-producing residential income asset with low exterior maintenance requirements. Showings are available with 48 hours’ notice; please do not disturb tenants.
Key Highlights
- Well‑maintained duplex at 517 Woods Drive in Columbia, TN, on a large corner lot
- Both units currently leased, providing immediate income potential with no initial leasing needed
- Each side is a 2‑bedroom, 1‑bath layout with functional floor plans
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,878
Cap Rate
4.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$317,560
$317.6K
Cap Rate 7%
$226,829
$226.8K
Cap Rate 9%
$176,422
$176.4K
Market Conditions
NOI Build-Up for 1,625 SF
Gross rent
$23.0K $14.16/SF
− Vacancy
−$327 −$0.20/SF
EGI
$22.7K $13.96/SF
− OpEx
−$6.8K −$4.19/SF
NOI
$15.9K $9.77/SF
Area
Maury County, TN
Vacancy
1.42%
Lease Rate
$14.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$317,560
Cap Rate 7%
$226,829
Cap Rate 9%
$176,422
Alternative Uses
Best Use
Multifamily LT 5
$226.8K
$198.5K – $264.6K
NOI $15,878 @ 7.0% cap · market cap 4.07%
Second Best
Apartment 5plus
$197.7K
$173.0K – $230.7K
NOI $13,839 @ 7.0% cap · market cap 3.55%
Theoretical Best
Office A
$476.4K
$416.8K – $555.8K
NOI $33,345 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
159
Businesses Nearby
Explore this area
Business Placement
Demographics for 38401, TN
63,075
Population
28,470
Households
2.2
Avg Household Size
40
Median Age
24%
College-Educated
92%
High-School Grad
296.7 sq mi
ZIP Area
213
Density / Sq Mi
$69,467
Median Household Income
$42,314
Median Earnings
$1,084
Median Rent
$295,200
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?
Duplex - Well-maintained duplex with two leased units and off-street parking on a large corner lot.
Where is this duplex located?
The property is located at 517 Woods Dr Columbia, TN.
What is the asking price?
The asking price for this property is $389,999.
What are key features of this property?
This property features: Well‑maintained duplex at 517 Woods Drive in Columbia, TN, on a large corner lot; Both units currently leased, providing immediate income potential with no initial leasing needed; Each side is a 2‑bedroom, 1‑bath layout with functional floor plans
