3239 Tower Dr · Clarksville, TN 37042

$969,000

64 bd · 8.0 ba · 6,480 sqft · MultiFamily public records · 50 Days on market

Built 1996

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +16.9/30.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• Livability +4.2/5.0
• 1% rule +3.6/10.0
• Rent growth +2.8/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

FULLY OCCUPIED 8-Unit All-Brick Apartment Building in a Prime Location! Excellent investment opportunity with this well-maintained, fully occupied 8-unit multifamily property, ideally situated just off Tiny Town Rd. Tenants enjoy easy access to shopping, dining, Fort Campbell, and the interstate, making this a highly desirable location for long-term occupancy. This all-brick building is a great addition to any investor’s portfolio. New Roof put on at the end of 2024! Please give a 48-hour notice to schedule a showing, no showings without an accepted offer.

Key facts

• Prime location
• Built 1996
• Listed 50 days

Tags

• 8-UNIT APARTMENT BUILDING
• PRIME LOCATION
• WELL-MAINTAINED PROPERTY
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING
• EASY ACCESS TO FORT CAMPBELL

Property features AI

Finance

• Other: Zoned R-4
• Financial info: Gross annual income reported: $83,519; Net operating income reported: $52,498; Owner pays trash collection; Tenants pay cable TV, electricity, gas, and water

Exterior

• Parking: No designated parking spaces reported
• Utilities: Public water; Public sewer; Water service available
• Home design: Residential income property; Attached multi-family building; One level
• Construction: Brick and vinyl siding exterior; Approximate year built; Multi-family structure
• Exterior features: Public water available; Public sewer

Interior

• Bedrooms: Eight 2-bedroom units
• Flooring: Carpet
• Bathrooms: Each 2-bedroom unit has 1 bathroom
• Heating & cooling: Central heat; Central air
• Interior features: Carpet flooring; Individual laundry in units; Central heating; Central air conditioning
• Laundry & utility: Residents have individual laundry

What this means for you Summary

Snapshot

• This is a 8 × 1-bed/1-bath units multifamily listed at $969k.

Deal economics

• At list price, monthly cash flow is $636 ($8k/yr) — positive. Per door: $80/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $833k (14.0% below list).
• Recommended offer: $833k (14.0% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 3.5% in Clarksville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 84/100 on livability (#1 in TN, #798 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment C-, crime D+.
• Montgomery County (urban): math 25% / reading 31% proficiency, ranked #65 of 139 in TN (top 47%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Hazelwood Elementary (math 27% / reading 30%, grade F, #472 of 952 statewide, top 50%, 924 students, 0% FRL); Northeast Middle (math 16% / reading 20%, grade F, #211 of 333 statewide, top 64%, 1,026 students, 0% FRL); Northeast High (math 6% / reading 35%, grade F, #175 of 332 statewide, top 53%, 1,728 students, 0% FRL) — zoned schools average 0% FRL vs 40% district-wide (40 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.3%/yr); 895 active listings in the ZIP; 2,583 units permitted in Montgomery County in 2024 (617 in 5+ unit buildings).
• At $8,332/mo this rent would consume 142% of the median local household income ($70k/yr) (locally 2093% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $29k of value loss. Plan a longer hold.
• Montgomery County population projected at +49% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($940k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $535k; list at $969k implies a 81% gain — meaningful room to come down on a strong offer.

Recommended offer $833,200 (14.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 7.08%
• Cash-on-cash: 2.81%
• DSCR: 1.13
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.27% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.52×
• Total profit: $-131,086
• Equity at exit: $144,481

10-year hold

• IRR: -7.5%
• Equity multiple: 0.56×
• Total profit: $-119,832
• Equity at exit: $83,781

Cash invested: $271,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Tennessee: 87 Strongly Landlord-Friendly · R+13
• County: — inherits STATE
• City: — inherits STATE

14-day notice (URLTA); generally landlord-favorable; Nashville court paced moderate.

Methodology + full state rankings →

ZIP-level market 37042

• Home prices YoY: -18.2%
• Rents YoY: 1.3%
• Active inventory: 895
• Price-to-rent: 77.5×

Monthly cashflow live

• Estimated rent: $8,332 high
• Mortgage (P&I): −$5,082
• Tax from tax record: −$461 /mo · $5,528/yr
• Insurance: −$404
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,750
• Net cashflow: $636

Break-even live

Break-even rent $7,527

Max offer price $969,000

Occupancy floor 87%

Sensitivity live

Price	-10% $1,185	-5% $911	+0% $636	+5% $362	+10% $88
Rent	-10% $-22	-5% $307	+0% $636	+5% $965	+10% $1,295
Rate	-1.0pp $1,124	-0.5pp $883	base $636	+0.5pp $385	+1.0pp $130

8-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 8× units	1	1	$8,336
Total (8 units)			$8,332

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $242,250
• Closing costs: $29,070
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-10
   status $969,000 Pending 50 DOM
2. 2026-06-09
   days on market $969,000 Active Under Contract 50 DOM
3. 2026-06-08
   days on market $969,000 Active Under Contract 49 DOM
4. 2026-06-07
   days on market $969,000 Active Under Contract 48 DOM
5. 2026-06-05
   days on market $969,000 Active Under Contract 45 DOM
6. 2026-06-03
   days on market $969,000 Active Under Contract 44 DOM
7. 2026-06-02
   statusdays on market $969,000 Active Under Contract 43 DOM
8. 2026-05-31
   days on market $969,000 Active 41 DOM
9. 2026-05-30
   days on market $969,000 Active 40 DOM
10. 2026-04-21
    listed $969,000 Active
11. 2026-01-26
    historical
12. 2026-01-05
    listed $969,000 Active
13. 2026-01-03
    historical
14. 2025-12-29
    historical
15. 2025-07-30
    listed $999,999 Active
16. 2025-01-18
    historical $825
17. 2025-01-06
    listed $825
18. 2023-07-12
    historical
19. 2020-02-10
    soldstatus $535,000
20. 2017-10-20
    historical
21. 2017-09-07
    listed $449,500 Active
22. 2017-03-14
    historical
23. 2017-02-06
    listed $415,000 Active
24. 2017-01-15
    historical
25. 2016-10-14
    listed $415,000 Active
26. 2016-10-01
    historical
27. 2016-09-01
    price $415,000
28. 2016-06-30
    listed $430,000 Active
29. 2016-04-12
    historical
30. 2016-01-11
    listed $430,000 Active
31. 2015-11-18
    historical
32. 2015-11-17
    price $430,000
33. 2015-11-17
    listed $375,000 Active
34. 2012-05-03
    historical
35. 2010-07-01
    listed $448,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TN · Resets to sale price

• Current annual tax: $5,528 · $461/mo
• Projected year-2 tax: $6,880 · $573/mo
• Expected delta: +$1,352/yr (+$113/mo · 24.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $99,984
• − Mortgage interest: −$54,279
• − Property taxes: −$5,528
• − Insurance: −$4,845
• − Repairs & maintenance: −$7,999
• − Management: −$7,999
• − Depreciation: −$28,189
• Taxable loss: −$8,855
• Est. tax savings @ 24.0%: +$2,125
• After-tax cash flow: $9,761/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Montgomery County
• NCES district ID: 4703030
• Math proficiency: 25% ▼ -20.00%
• Reading proficiency: 31% ▼ -10.00%
• Median HH income: $50,423
• Composite: 24.56/100
• National rank: #7641
• State rank: #65 of 139 in TN

Livability — Clarksville

• Score: 84/100
• State rank: #1
• US rank: #798

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime D+ Employment C- Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clarksville, TN
• County: Montgomery County · 211,371 people
• City population: 211,371
• Metro: Clarksville, TN-KY
• Population (ZIP): 87,652
• Household income: $70,393
• Rent vs Own: 41.4% rent · 58.6% own
• Severe rent burden: 2093.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 236,633 people
• By 2030: 258,978 · +9.4%
• By 2040: 305,456 · +29.1%
• By 2050: 353,147 · +49.2%
• By 2075: 471,289 · +99.2%
• By 2100: 564,122 · +138.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 48% Black 26% Hispanic / Latino 15% Two or more races 13% Asian 3%
• Hispanic origin (detail): Mexican 6% Puerto Rican 4%
• Common ancestry: Italian 4% Slovak 1% Lithuanian 1%
• Foreign-born: 8% · Canada, South Korea, China
• Languages at home: 88% English-only · Spanish 8% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Montgomery

• 2024 margin: R (+18.4) · D 40.0% · R 58.5% · Other 1.5%
• 2008→2024 swing: -10.5pp toward R · 2008: -7.9pp · 2024: -18.4pp
• All cycles: 2024: R+18.4 2020: R+12.7 2016: R+18.6 2012: R+10.5 2008: R+7.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.81%
• Current HPI: 264.4911
• Rent YoY: ▲ 1.27%
• Metro: Clarksville, TN-KY
• State GDP YoY: ▲ 2.78%
• F500 in state: 22

Industry mix (Fortune 500 HQ in TN)

Industry	F500 HQs	Revenue
▸Healthcare	3	$91B
▸Retail	3	$72B
▸Transportation / Logistics	1	$88B
▸Paper / Packaging	1	$19B
▸Insurance	1	$13B
▸Energy	1	$12B

Price history

+116.3% since first listed

26 events — show timeline

• 2026-04-21 Listed $969,000 REALTRACS as Distributed by MLS Grid
• 2026-01-26 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2026-01-05 Listed $969,000 REALTRACS as Distributed by MLS Grid
• 2026-01-03 Coming Soon — REALTRACS as Distributed by MLS Grid
• 2025-12-29 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2025-07-30 Listed $999,999 REALTRACS as Distributed by MLS Grid
• 2025-01-18 Rental Removed $825 APPFOLIO
• 2025-01-06 Listed for Rent $825 APPFOLIO
• 2023-07-12 Rental Removed — REALTRACS
• 2020-02-10 Sold (Public Records) $535,000 Public Records
• 2017-10-20 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2017-09-07 Listed $449,500 REALTRACS as Distributed by MLS Grid
• 2017-03-14 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2017-02-06 Listed $415,000 REALTRACS as Distributed by MLS Grid
• 2017-01-15 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2016-10-14 Listed $415,000 REALTRACS as Distributed by MLS Grid
• 2016-10-01 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2016-09-01 Price Changed $415,000 REALTRACS as Distributed by MLS Grid
• 2016-06-30 Listed $430,000 REALTRACS as Distributed by MLS Grid
• 2016-04-12 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2016-01-11 Listed $430,000 REALTRACS as Distributed by MLS Grid
• 2015-11-18 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2015-11-17 Price Changed $430,000 REALTRACS as Distributed by MLS Grid
• 2015-11-17 Listed $375,000 REALTRACS as Distributed by MLS Grid
• 2012-05-03 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2010-07-01 Listed $448,000 REALTRACS as Distributed by MLS Grid

Property tax history

+1.8%/yr

Latest (2025): $5,528 · +1.3% YoY. Source: county tax records.