587 Baker Rd Martin, TN 38237
Estimated payment $22,946/month
Highlights
- No HOA
- Central Heating and Cooling System
- Carpet
About This Home
**Income-Producing Property:** This 36-unit apartment complex is situated in the heart of Martin, TN, just 1.2 miles from the University of Tennessee at Martin. This property presents an excellent opportunity to enhance your rental portfolio. Martin is a vibrant university town with various amenities that attract residents to the area. All units are 2-bedroom, 1-bathroom units that feature washer and dryer hookups. Some of the improvements made over the last 12 months include a new roof on buildings A, D, E, H, and J, as well as renovations to 16 units. Additionally, the back deck has been replaced for all 36 units. The current property manager is local and is willing to continue managing the property, facilitating a smooth transition for the new owner.
Listing Agent
Tennessee Property Group Brokerage Phone: 9312092819 License #315800 Listed on: 12/06/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $18,803
Year Built
- Built in 1995
Home Design
- Brick Exterior Construction
- Aluminum Siding
Interior Spaces
- 4 Bedrooms
- 870 Sq Ft Home
- Property has 1 Level
- Washer and Electric Dryer Hookup
Flooring
- Carpet
- Laminate
- Vinyl
Schools
- Martin Elementary School
- Martin Middle School
- Westview High School
Utilities
- Central Heating and Cooling System
Listing and Financial Details
- The owner pays for trash collection
- Rent includes trash collection
- Assessor Parcel Number 078 03910 000
Community Details
Overview
- No Home Owners Association
- 36 Units
Building Details
- Operating Expense $84,500
- Gross Income $388,800
- Net Operating Income $304,300
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | -- | $623,040 | $14,720 | $608,320 |
| 2024 | -- | $623,040 | $14,720 | $608,320 |
| 2023 | $14,762 | $675,720 | $14,720 | $661,000 |
| 2022 | $21,422 | $574,760 | $14,720 | $560,040 |
| 2021 | $21,422 | $574,760 | $14,720 | $560,040 |
| 2020 | $21,422 | $574,760 | $14,720 | $560,040 |
| 2019 | $19,410 | $574,760 | $14,720 | $560,040 |
| 2018 | $16,816 | $497,960 | $14,720 | $483,240 |
| 2017 | $17,965 | $494,640 | $14,720 | $479,920 |
| 2016 | $17,965 | $494,640 | $0 | $0 |
| 2015 | $17,964 | $494,638 | $0 | $0 |
| 2014 | $17,964 | $494,638 | $0 | $0 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 02/19/2026 02/19/26 | Price Changed | $4,150,000 | -2.4% | $4,770 / Sq Ft | |
| 12/06/2025 12/06/25 | For Sale | $4,250,000 | +78.9% | $4,885 / Sq Ft | |
| 11/30/2022 11/30/22 | Sold | $2,375,000 | 0.0% | $79 / Sq Ft | View Prior Sale |
| 11/30/2022 11/30/22 | For Sale | $2,375,000 | -- | $79 / Sq Ft | |
| 09/15/2022 09/15/22 | Pending | -- | -- | -- |
Source: Realtracs
MLS Number: 3059099
APN: 092078 03910
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
Based on information submitted to the MLS GRID
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