492 W 9th St, Cookeville, Tennessee 38501
TN, Cookeville-
Active Status
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33 Dayz On Cribz Total Days
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Residential Income Property Type
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14040 Total Sqft $137/sqft
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1991 Year Built
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Mortgage Wizard 3000 Advanced Breakdown
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Cookeville, TN | 14,040 SF | 1.8 Acres | Zoned RM-8 | Opportunity Zone Great Investment Opportunity – 15 Townhome-Style Units Located less than 1 mile from Tennessee Tech University, this well-positioned multifamily asset features 15 spacious townhome-style units spread across three buildings totaling 14,040 square feet on a 1.8-acre lot. Built in 1991, each unit offers 2 bedrooms, 1.5 bathrooms, and multi-level living, making it highly attractive to both long-term tenants and student renters. Property Highlights: Stable in-place cash flow with average rents of $950/month per unit Strong occupancy driven by proximity to Tennessee Tech University Recent capital improvements: 11 new HVAC systems installed within the last 3 years 30-year architectural roofs installed in 2017 Zoned RM-8, allowing for residential density flexibility Located in a federally designated Opportunity Zone — favorable for long-term investors seeking tax advantages Value-Add Potential: Implement RUBS utility billing for water/sewer to improve NOI Interior renovations and strategic rent increases offer significant upside Potential to modernize units and common areas for increased appeal
- Property Type: Residential Income
- Listing Type: For Sale
- MLS #: 2925420
- Price: $1,925,000
- View: City
- Square Footage: 14,040 Sqft
- Year Built: 1991
- Office Name: Martin Real Estate, LLC
- Agent Name: Ethan Dolan
- Property Attached: Yes
- Listing Status: Active
- Street Number: 492
- Street: W 9th St
- City Cookeville
- State TN
- Zipcode 38501
- County Putnam County, TN
- Subdivision Multifamily 15 unit development
- Zoning: R-8
- Directions: Tennessee Tech University, 1 William L Jones Dr, Cookeville, TN 38505 (Main entrance at the intersection of Dixie Ave and William L Jones Dr) Step-by-step: Exit campus heading west on William L Jones Dr. At the traffic light, turn left onto N Willow Av
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Heating System Central
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Cooling System Central Air, Ceiling Fan(s)
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Utilities Water Available
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Flooring Wood, Carpet
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Sewer Public Sewer
- Elementary School: Sycamore Elementary
- Middle School: Avery Trace Middle School
- High School: Cookeville High School
- Water Source: Public
- Building Size: 14,040 Sqft
- Construction Materials: Vinyl Siding
- Levels: One
- Number Of Units Total: 15
- On Market Date: June 30th, 2025
- Previous Price: $1,925,000
- Stories: 2
- Annual Tax Amount: $13,116
- Co List Agent Full Name: Henry Martin
- Co List Office Name: Martin Real Estate, LLC
- Mls Status: Active
- Originating System Name: RealTracs
- Special Listing Conditions: Standard
- Modification Timestamp: Jun 30th, 2025 @ 6:01pm
- Status Change Timestamp: Jun 30th, 2025 @ 1:30pm
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