Brick Multifamily
For Sale
$425,000
644 E 4th St, Cookeville, TN 38501
Recent interior updates include new flooring and paint, with the property retaining multifamily use status in Cookeville.
Property Size3,717 SF
Price / SF$114.34
Days on Market16
Property Features for 644 E 4th St
General Information
Standard status
Active
Size
3,717 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$1,724
Building Details
Construction
brick
Listing Agency:
American Way Real Estate
(931) 526-9581
Listed By:
Gina Key
(931) 267-3271
Source:
Exprealty
Added: Oct 1
Changed: Oct 10
Last Checked: Oct 15 at 12:40AM
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 American Way Real Estate
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Investment Insights
Based on property information with market context.
This 3,717-square-foot brick multifamily property is in Cookeville, Tennessee. Flooring and paint have been updated, and the property is grandfathered for multifamily use within the city. It is situated in a residential area and falls within the Capshaw School District.
The Cookeville square, Historic Westside, Tennessee Tech University, and Cookeville Regional Medical Center are all described as minutes away.
The Cookeville square, Historic Westside, Tennessee Tech University, and Cookeville Regional Medical Center are all described as minutes away.
Key Highlights
- 3,717‑square‑foot brick multifamily property
- Grandfathered for multifamily use within Cookeville City
- Updated flooring and fresh paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,582
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$731,640
$731.6K
Cap Rate 7%
$522,600
$522.6K
Cap Rate 9%
$406,467
$406.5K
Market Conditions
NOI Build-Up for 3,717 SF
Gross rent
$71.4K $19.20/SF
− Vacancy
−$4.9K −$1.31/SF
EGI
$66.5K $17.89/SF
− OpEx
−$29.9K −$8.05/SF
NOI
$36.6K $9.84/SF
Area
Putnam County, TN
Vacancy
6.80%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$731,640
Cap Rate 7%
$522,600
Cap Rate 9%
$406,467
Alternative Uses
Best Use
Apartment 5plus
$522.6K
$457.3K – $609.7K
NOI $36,582 @ 7.0% cap · market cap 8.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,385 @ 7.0% cap · market cap 25.27%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
897
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
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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?
Multifamily property - Recent interior updates include new flooring and paint, with the property retaining multifamily use status in Cookeville.
Where is this multifamily property located?
The property is located at 644 E 4th St Cookeville, TN.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 3,717‑square‑foot brick multifamily property; Grandfathered for multifamily use within Cookeville City; Updated flooring and fresh paint
