1531 East Knollwood Circle, Clarksville, TN 37043 For Sale

1531 E Knollwood Circle - 5-Unit Townhome Investment | Clarksville, TN

Turnkey multifamily opportunity in the established Knollwood Hills subdivision. This 5-unit brick townhome was built in 1989, spans 4,368 SF across two stories, and sits in a low-flood-risk (Zone X) location within Clarksville city limits.

The property underwent significant capital improvements in 2025, making it one of the most mechanically updated small multifamily offerings on the Clarksville market - HVAC replaced Nov 2025 and water heater May 2025 reduce near-term capex risk.

Four of five units are leased at seller-confirmed market rents of $825-$900/mo (avg $860/unit). The fifth unit is ready for immediate lease-up at ~$850 market, bringing stabilized gross rents to $4,300/mo ($51,600/yr GPR). At the $599,900 asking price, the stabilized pro forma yields a 5.57% cap rate and $33,410 NOI, with an estimated $16,562/yr positive cash flow after estimated debt service (~1.98x DSCR, estimated).

Note on 2025 financials: the 2025 trailing P&L reflects roughly $13,171 in one-time capex and four concurrent unit turnovers - not recurring operating costs. Stripping the one-time capex, stabilized expenses align with a professionally managed asset (PMI Clarksville, 10% of gross receipts). Fiber internet is available from three providers (AT&T 5 Gbps, CDE Lightband, Spectrum). The absentee owner has completed a full rehab cycle and is offering a clean, stabilized exit - not a distressed sale.

Comp-supported pricing: 9 verified 4-6 unit sales in Clarksville (2023-2026) show a median of ~$141/SF, supporting a comp value of ~$615,888 for this 4,368 SF asset. At $599,900, the listing is priced below comp-derived value. Zoned R-4 Multi-Family Residential; assessed commercial at 40%. Buyer to verify all information independently.