Renovated
For Sale
$224,900
81 Carolane Drive, Jackson, TN 38305
Two residential units provide matching layouts with kitchen appliances and laundry connections on both sides.
Property Size2,204 SF
Price / SF$102.04
Days on Market178
Property Features for 81 Carolane Drive
General Information
Standard status
Active
Size
2,204 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$662
Building Details
Buildings
1
Listing Agency:
Town and Country
(731) 431-2799
Listed By:
Kristen Londe · License #329613
(731) 431-2799
Source:
Exprealty
Added: Mar 6
Changed: Aug 30
Last Checked: Aug 30 at 8:53PM
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 Town and Country
Investment Insights
Based on property information with market context.
This duplex includes two residential units, each configured with 2 bedrooms and 1 full bathroom. Both sides have a kitchen equipped with a range and refrigerator, along with connections for a washing machine and dryer. Improvements completed within the past 5 years include a roof, HVAC units, and windows.
The property is located on Carolane Drive in central North Jackson, with access to the US-45 Bypass, Hollywood Dr, and local shopping. Its cul-de-sac setting provides a defined residential environment while keeping regional routes and nearby services within reach.
The property is located on Carolane Drive in central North Jackson, with access to the US-45 Bypass, Hollywood Dr, and local shopping. Its cul-de-sac setting provides a defined residential environment while keeping regional routes and nearby services within reach.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 full bathroom on each side
- Each unit includes a range, refrigerator, and washing machine and dryer connections
- Renovated within the past 5 years with a new roof, HVAC units, and windows
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
$12,159
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
5.41%
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%
$243,180
$243.2K
Cap Rate 7%
$173,700
$173.7K
Cap Rate 9%
$135,100
$135.1K
Market Conditions
NOI Build-Up for 2,204 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
$18.8K $8.52/SF
− Vacancy
−$1.4K −$0.64/SF
EGI
$17.4K $7.88/SF
− OpEx
−$5.2K −$2.36/SF
NOI
$12.2K $5.52/SF
Area
Madison County, TN
Vacancy
7.50%
Lease Rate
$8.52 /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%
$243,180
Cap Rate 7%
$173,700
Cap Rate 9%
$135,100
Alternative Uses
Best Use
Multifamily LT 5
$173.7K
$152.0K – $202.7K
NOI $12,159 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$162.7K
$142.4K – $189.8K
NOI $11,388 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$453.8K
$397.1K – $529.5K
NOI $31,769 @ 7.0% cap · market cap 14.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
398
Businesses Nearby
Explore this area
Business Placement
Demographics for 38305, TN
52,686
Population
22,950
Households
2.3
Avg Household Size
40
Median Age
32%
College-Educated
94%
High-School Grad
128.0 sq mi
ZIP Area
412
Density / Sq Mi
$66,292
Median Household Income
$37,416
Median Earnings
$1,201
Median Rent
$221,200
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?
Duplex - Two residential units provide matching layouts with kitchen appliances and laundry connections on both sides.
Where is this duplex located?
The property is located at 81 Carolane Drive Jackson, TN.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 full bathroom on each side; Each unit includes a range, refrigerator, and washing machine and dryer connections; Renovated within the past 5 years with a new roof, HVAC units, and windows
