Attention Investors!!! Value-add 5-unit multifamily investment in Lebanon, TN offering strong income potential.. Wonderful opportunity to own a 5 unit rental in historic Lebanon TN. Great location right down the street from Cumberland University.
Active
$579,900
505 W Spring St, Lebanon, TN 37087
3beds
--baths
3,178sqft
Est.:
Multi Family
Built in 1949
-- sqft lot
$-- Zestimate®
$182/sqft
$-- HOA
What's special
- 15 days |
- 370 |
- 4 |
Zillow last checked: 8 hours ago
Listing updated: January 29, 2026 at 08:38am
Listing Provided by:
Keith Boykin 615-788-9356,
Jamison Durham Real Estate 615-454-0048,
William Mark Chrisawn 615-513-3509,
Jamison Durham Real Estate
Source: RealTracs MLS as distributed by MLS GRID,MLS#: 3117901
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
Heating
- Central, Electric
Cooling
- Electric, Wall/Window Unit(s)
Features
- Flooring: Laminate, Vinyl
Interior area
- Total structure area: 3,178
- Total interior livable area: 3,178 sqft
- Finished area above ground: 3,178
Property
Parking
- Total spaces: 8
- Parking features: Attached, Gravel
- Carport spaces: 1
- Uncovered spaces: 7
Features
- Levels: One
- Stories: 2
Lot
- Size: 9,951 Square Feet
- Dimensions: 93 x 107 M IRR
Details
- Parcel number: 068F C 02200 000
- Zoning: Commercial
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Condition
- New construction: No
- Year built: 1949
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Available, Water Available
Community & HOA
HOA
- Has HOA: No
Location
- Region: Lebanon
Financial & listing details
- Price per square foot: $182/sqft
- Tax assessed value: $220,100
- Annual tax amount: $2,546
- Date on market: 1/29/2026
- Inclusions: Negotiable
- Total actual rent: 4700
- Tenant pays: Electricity, Gas, Water
- Electric utility on property: Yes
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 1/29/2026 | Listed for sale | $579,900+3.6%$182/sqft |
Source:  RealTracs MLS as distributed by MLS GRID #3117901 Report a problem | ||
| 3/31/2023 | Listing removed | -- |
Source: RealTracs MLS as distributed by MLS GRID #2442740 Report a problem | ||
| 2/9/2023 | Listed for sale | $559,900$176/sqft |
Source: RealTracs MLS as distributed by MLS GRID #2442740 Report a problem | ||
| 2/1/2023 | Listing removed | -- |
Source: RealTracs MLS as distributed by MLS GRID #2442740 Report a problem | ||
| 9/26/2022 | Listed for sale | $559,900-6.7%$176/sqft |
Source: RealTracs MLS as distributed by MLS GRID #2442740 Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $2,546 | $88,040 |
| 2023 | $2,546 | $88,040 |
| 2022 | $2,546 | $88,040 +0.5% |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$3,164/mo
Principal & interest
$2773
Home insurance
$203
Property taxes
$188
Climate risks
Neighborhood: 37087
Nearby schools
GreatSchools rating
- 6/10Byars Dowdy Elementary SchoolGrades: PK-5Distance: 0.9 mi
- 6/10Winfree Bryant Middle SchoolGrades: 6-8Distance: 1.1 mi
Schools provided by the listing agent
- Elementary: Byars Dowdy Elementary
- Middle: Winfree Bryant Middle School
- High: Lebanon High School
Source: RealTracs MLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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