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Listed by James Church • Keller Williams Realty Clarksville
$ 725,000
Est. payment | /mo
4,612 SqFt
$ 725,000
Est. payment | /mo
4,612 SqFt
Key Details
Property Type Single Family Home
Listing Status Pending
Purchase Type For Sale
Square Footage 4,612 sqft
Price per Sqft $157
Subdivision Flint Ridge
MLS Listing ID 3137039
Year Built 2021
Annual Tax Amount $9,630
Lot Dimensions 85
Property Description
Quadplex in Flint Ridge with an assumable VA loan at a 2.706% fixed interest rate. This is a rare opportunity to acquire an income-producing multi-family property with below-market financing already in place. The existing first mortgage of approximately $399,000 is eligible for VA loan assumption by a qualified buyer with sufficient VA entitlement. A discounted second note is also part of the transaction structure, creating additional value for the right buyer. Sellers are motivated and will consider reasonable offers. The property features four two-story townhome-style units, each with 2 bedrooms and 2.5 bathrooms. Total living area is 4,612 square feet on a half-acre lot zoned R-4 Multi-Family Residential. Construction includes common brick exterior, composition shingle roofing, slab-on-grade foundation, and individual HVAC split systems in each unit. The 2026 county appraised value is $807,900.
3 units rented and a 4th almost signed up, Gross monthly rental income is $4,698 with upside potential at lease renewals. The interest rate differential between the assumable loan and current market rates represents significant monthly savings, making this property cash-flow positive under the assumed financing structure. At prevailing market rates, this same property would not generate positive cash flow, which underscores the value of the assumption. Buyer must qualify for VA loan assumption,
3 units rented and a 4th almost signed up, Gross monthly rental income is $4,698 with upside potential at lease renewals. The interest rate differential between the assumable loan and current market rates represents significant monthly savings, making this property cash-flow positive under the assumed financing structure. At prevailing market rates, this same property would not generate positive cash flow, which underscores the value of the assumption. Buyer must qualify for VA loan assumption,
Location
State TN
County Montgomery County
Zoning R-4
Interior
Heating Central, Heat Pump
Cooling Ceiling Fan(s), Central Air
Flooring Luxury Vinyl
Fireplace N
Exterior
Utilities Available Water Available
View Y/N false
Roof Type Asphalt
Building
Story 2
Sewer Public Sewer
Water Public
Structure Type Brick,Vinyl Siding
New Construction false
Schools
Elementary Schools Glenellen Elementary
Middle Schools Kenwood Middle School
High Schools Kirkwood High
Others
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Jon Krawcyk
REALTOR® | Lic# 295573