Brick Duplex with Separate Utility
896 Locust Dr, Clarksville, TN 37040
For Sale
$275,000
Central HVAC systems date to May 2018, and the property is zoned R-3.
Property Size1,769 SF
Price / SF$155.46
Days on Market102
Property Features for 896 Locust Dr
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Units
Multifamily Units
Individually Metered Utilities
Additional Details
Utilities to Site
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Units
Construction
Listing Agency:
The McCormick Group RE
(615) 772-1709
Listed By:
Elyse Lorraine Rasmussen
(909) 973-7164
Source:
Concordrealty
Added: Jul 31
Changed: Nov 8
Last Checked: Nov 8 at 7:53PM
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 The McCormick Group RE
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Investment Insights
Based on property information with market context.
This 1,769-square-foot duplex was built in 1961 and has an all-brick exterior. Each unit has separate water and electric meters. Central HVAC systems were manufactured in May 2018, and the interior has fresh paint. The property is zoned R-3.
Unit 896 is vacant; Unit 894 is tenant-occupied. The property is a short drive from Austin Peay University, downtown Clarksville, the Cumberland River walk, shopping, and dining.
Unit 896 is vacant; Unit 894 is tenant-occupied. The property is a short drive from Austin Peay University, downtown Clarksville, the Cumberland River walk, shopping, and dining.
Key Highlights
- All‑brick duplex totaling 1,769 square feet
- Separate water and electric meters for each unit
- Central HVAC systems manufactured in May 2018
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,978
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$319,560
$319.6K
Cap Rate 7%
$228,257
$228.3K
Cap Rate 9%
$177,533
$177.5K
Market Conditions
NOI Build-Up for 1,769 SF
Gross rent
$24.4K $13.80/SF
− Vacancy
−$1.6K −$0.90/SF
EGI
$22.8K $12.90/SF
− OpEx
−$6.8K −$3.87/SF
NOI
$16.0K $9.03/SF
Area
Clarksville, TN
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$319,560
Cap Rate 7%
$228,257
Cap Rate 9%
$177,533
Alternative Uses
Best Use
Multifamily LT 5
$228.3K
$199.7K – $266.3K
NOI $15,978 @ 7.0% cap · market cap 5.81%
Second Best
Apartment 5plus
$203.8K
$178.3K – $237.8K
NOI $14,267 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$296.9K
$259.8K – $346.4K
NOI $20,786 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
Explore this area
Business Placement
Demographics for 37040, TN
60,382
Population
24,628
Households
2.5
Avg Household Size
31
Median Age
30%
College-Educated
94%
High-School Grad
92.8 sq mi
ZIP Area
651
Density / Sq Mi
$65,331
Median Household Income
$40,621
Median Earnings
$1,177
Median Rent
$242,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Central HVAC systems date to May 2018, and the property is zoned R-3.
Where is this duplex located?
The property is located at 896 Locust Dr Clarksville, TN.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: All‑brick duplex totaling 1,769 square feet; Separate water and electric meters for each unit; Central HVAC systems manufactured in May 2018
