587 Baker Rd Martin, TN 38237
Martin AreaEstimated payment $22,555/month
Highlights
- No HOA
- Central Heating and Cooling System
- Carpet
About This Home
Exceptional Income-Producing Investment Opportunity! This well-maintained 36-unit apartment community is ideally located in the heart of Martin, Tennessee, just 1.2 miles from the University of Tennessee at Martin. Positioned in a thriving college town with strong, consistent rental demand, this property offers an outstanding opportunity to expand or strengthen your investment portfolio.
The complex features thirty-six 2-bedroom, 1-bathroom units, each equipped with convenient washer and dryer hookups. Significant capital improvements have been completed within the past 12 months, including new roofs on Buildings A, D, E, H, and J, renovations to 16 units, and the replacement of all rear decks across the property.
With a local, experienced property manager who is willing to remain in place after the sale, the new owner can benefit from a seamless transition and continued professional management. Whether you're seeking stable cash flow, long-term appreciation, or a value-add investment in a desirable university market, this property is an opportunity you won't want to miss.
Listing Agent
Tennessee Property Group Brokerage Phone: 9312092819 License #315800 Listed on: 07/13/2026
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $20,517
Year Built
- Built in 1995
Home Design
- Brick Exterior Construction
- Aluminum Siding
Interior Spaces
- 870 Sq Ft Home
- Property has 2 Levels
- Washer and Electric Dryer Hookup
Flooring
- Carpet
- Laminate
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 $93,804
- Gross Income $388,800
- Net Operating Income $294,996
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 07/29/2026 07/29/26 | Price Changed | $3,799,900 | -2.6% | $4,368 / Sq Ft | |
| 07/13/2026 07/13/26 | For Sale | $3,899,500 | +64.2% | $4,482 / 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 | -- | -- | -- |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $2,725,000 | Three Rivers Title | |
| Warranty Deed | $2,375,000 | -- | |
| Deed | $8,500 | -- | |
| Deed | $8,500 | -- |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $2,036,250 | New Conventional | |
| Previous Owner | $2,018,750 | New Conventional |
Source: Realtracs
MLS Number: 3276724
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.
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.
Listings courtesy of Realtracs as distributed by MLS GRID.
Listing Information presented by local MLS brokerage: Ten-X, LLC dba Homes.com, local broker - Arlene Richardson - 888-952-6393 - 17600 Laguna Canyon Rd, Irvine, CA 92618.
Based on information submitted to the MLS GRID
- 153 Harrison Rd
- 0 Baker Rd
- 322 Mount Pelia Rd
- 351 Mount Pelia Rd
- 343 Mount Pelia Rd
- 359 Mount Pelia Rd
- 865 Elm St
- 133 Brundige Dr
- 121 W Peach St
- 433 Raven St Unit A
- 126 Lilly Pond Ln
- 1035 Harrison Rd
- 401 Mount Pelia Rd
- 108 Jenna Brooke Ln
- 125 Ivie Cir Unit 127
- 116 Jenna Brooke Ln
- 302 Elm St
- 1018 Stella Ruth Rd
- 123 Ivie Ln
- 203 Elm St
- 154 W Peach St Unit C4
- 154 W Peach St
- 154 W Peach St Unit D1
- 148 W Peach St Unit E2
- 148 W Peach St
- 237 W Peach St
- 405 Fonville St
- 405 Fonville St Unit B
- 534 Lee St
- 534 Lee St Unit . 9
- 534 Lee St Unit . 3
- 501 Lee St
- 501 Lee St Unit A
- 129 Fonville St
- 125 Todd St
- 120 Willow Ln Unit A
- 120 Willow Ln
- 509 Church St
- 114 Carlton St
- 103 Fulton St
Ask me questions while you tour the home.