6-Unit Apartment
For Sale
$599,000
613 W 7th St, Columbia, TN 38401
The property contains one-bedroom, one-bath residences with coin-operated laundry on site.
Property Size3,932 SF
Price / SF$152.34
Days on Market40
Property Features for 613 W 7th St
General Information
Standard status
Active
Size
3,932 SF
Property subtype
Multi-Family
Units
Unit Mix
6 x 1BR/1BA
Multifamily Units
6
Amenities
coin operated washer dryer
Building Details
Year Built
1900
Listing Agency:
Duck River Realty
(615) 856-3171
Listed By:
Travis R. Kitchen
Source:
Fykesrealtygroup
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 29 at 11:47AM
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 Duck River Realty
Investment Insights
Based on property information with market context.
This 3,932-square-foot apartment building, constructed in 1900, contains six one-bedroom, one-bath units. Four units are occupied and two are vacant, providing a mix of existing occupancy and available units within the property. A coin-operated washer and dryer serve the building.
The property is located at 613 W 7th St in Columbia, Tennessee 38401. Its six-unit configuration and on-site laundry support a straightforward multifamily layout.
The property is located at 613 W 7th St in Columbia, Tennessee 38401. Its six-unit configuration and on-site laundry support a straightforward multifamily layout.
Key Highlights
- Six one‑bedroom, one‑bath apartment units
- 4 units occupied and 2 units empty
- Coin‑operated washer and dryer on site
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
$33,486
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
5.59%
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%
$669,720
$669.7K
Cap Rate 7%
$478,371
$478.4K
Cap Rate 9%
$372,067
$372.1K
Market Conditions
NOI Build-Up for 3,932 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
$61.8K $15.72/SF
− Vacancy
−$927 −$0.24/SF
EGI
$60.9K $15.48/SF
− OpEx
−$27.4K −$6.97/SF
NOI
$33.5K $8.52/SF
Area
Maury County, TN
Vacancy
1.50%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
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%
$669,720
Cap Rate 7%
$478,371
Cap Rate 9%
$372,067
Alternative Uses
Best Use
Apartment 5plus
$478.4K
$418.6K – $558.1K
NOI $33,486 @ 7.0% cap · market cap 5.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,685 @ 7.0% cap · market cap 13.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
983
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - The property contains one-bedroom, one-bath residences with coin-operated laundry on site.
Where is this apartment building located?
The property is located at 613 W 7th St Columbia, TN.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Six one‑bedroom, one‑bath apartment units; 4 units occupied and 2 units empty; Coin‑operated washer and dryer on site
