Building Details

Year Built 1987

Buildings 3

Listing Agency: The Realty Association

Listed By: Julie Hasley Coone Show Phone

Source: Grayfoxrealty

Added: Aug 6 Changed: Oct 6 Last Checked: Oct 7 at 2:26PM

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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

Investment Insights

Based on property information with market context.

This 5-unit multifamily property includes two front duplex buildings and a separate single-family home. The duplex units each offer two bedrooms and one bathroom, while the house provides two bedrooms and one bathroom. The property contains 3,700 square feet and was built in 1987.

Residents pay their own electric utility bills, while the owner covers water service for all units. The property is described as well maintained, and an existing maintenance professional familiar with the apartments is willing to continue working for the new owner.

Key Highlights

• Five‑unit multifamily property with two duplex buildings and one single‑family home
• 3,700 square feet on a property built in 1987
• Duplex units feature two bedrooms and one bathroom each

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,567

Cap Rate

4.54%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$771,340 $771.3K

Cap Rate 7%

$550,957 $551.0K

Cap Rate 9%

$428,522 $428.5K

Market Conditions

NOI Build-Up for 3,700 SF

Gross rent

$75.5K $20.40/SF

− Vacancy

−$5.4K −$1.45/SF

EGI

$70.1K $18.95/SF

− OpEx

−$31.6K −$8.53/SF

NOI

$38.6K $10.42/SF

Area

Dickson County, TN

Vacancy

7.10%

Lease Rate

$20.40 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$771,340

Cap Rate 7%

$550,957

Cap Rate 9%

$428,522

Alternative Uses

Best Use

Apartment 5plus

$551.0K

$482.1K – $642.8K (±1% cap)

NOI $38,567 @ 7.0% cap · market cap 4.54%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.08M

$949.1K – $1.27M (±1% cap)

NOI $75,924 @ 7.0% cap · market cap 8.93%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Furniture & Home Goods (Bike/Boat/Book/etc) Store Real Estate Agency Accounting Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

5

Residential units

Location Intelligence

Trade Area within ½ mile

5

Businesses Nearby

Explore this area Business Placement

Demographics for 37055, TN

29,319

Population

12,160

Households

2.4

Avg Household Size

40

Median Age

20%

College-Educated

91%

High-School Grad

201.7 sq mi

ZIP Area

145

Density / Sq Mi

$69,283

Median Household Income

$41,808

Median Earnings

$1,034

Median Rent

$258,200

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - Five-unit income property with duplex and single-family configurations.

Where is this apartment building located?

The property is located at 5608 Highway 48 N Dickson, TN.

What is the asking price?

The asking price for this property is $849,830.

What are key features of this property?

This property features: Five‑unit multifamily property with two duplex buildings and one single‑family home; 3,700 square feet on a property built in 1987; Duplex units feature two bedrooms and one bathroom each