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
Price cut: $24K (2/27)
$555,900
505 W Spring St, Lebanon, TN 37087
3beds
4baths
3,178sqft
Est.:
Multi Family
Built in 1949
-- sqft lot
$-- Zestimate®
$175/sqft
$-- HOA
What's special
- 67 days |
- 51 |
- 0 |
Zillow last checked: 7 hours ago
Listing updated: 22 hours ago
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
- Bathrooms: 4
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: $175/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 |
|---|---|---|
| 4/6/2026 | Listed for sale | $555,900$175/sqft |
Source:  RealTracs MLS as distributed by MLS GRID #3117901 Report a problem | ||
| 3/8/2026 | Contingent | $555,900$175/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3117901 Report a problem | ||
| 2/27/2026 | Price change | $555,900-4.1%$175/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3117901 Report a problem | ||
| 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 | ||
| 9/16/2022 | Listing removed | -- |
Source: RealTracs MLS as distributed by MLS GRID #2412044 Report a problem | ||
| 7/22/2022 | Listed for sale | $599,900+2252.5%$189/sqft |
Source: RealTracs MLS as distributed by MLS GRID #2412044 Report a problem | ||
| 1/31/1996 | Sold | $25,500$8/sqft |
Source: Public Record Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,546 | $88,040 |
| 2024 | $2,546 | $88,040 |
| 2023 | $2,546 | $88,040 |
| 2022 | $2,546 | $88,040 +0.5% |
| 2021 | -- | $87,600 +28.4% |
| 2020 | $2,565 +49.2% | $68,240 |
| 2019 | $1,719 -28.2% | $68,240 |
| 2018 | $2,395 0% | $68,240 |
| 2017 | $2,395 +21% | $68,240 |
| 2016 | $1,980 -20% | $68,240 |
| 2015 | $2,476 +63.9% | $68,240 +63.9% |
| 2014 | $1,511 | $41,639 |
| 2013 | $1,511 +8.2% | $41,639 -1.2% |
| 2012 | $1,396 +2.3% | $42,161 |
| 2011 | $1,364 | $42,161 |
| 2010 | -- | $42,161 +1.3% |
| 2009 | $1,314 | $41,602 |
| 2008 | $1,314 +20.2% | $41,602 +8.5% |
| 2007 | $1,093 -12% | $38,344 |
| 2006 | $1,242 | $38,344 |
| 2005 | $1,242 -15.6% | $38,344 |
| 2003 | $1,472 +27.7% | $38,344 +27.7% |
| 2002 | $1,153 | $30,021 |
| 2001 | -- | $30,021 -57.6% |
| 2000 | -- | $70,772 |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$2,900/mo
Principal & interest
$2719
Property taxes
$181
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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.
Local experts in 37087
- Tennessee
- Wilson County
- Lebanon
- 37087
- 505 W Spring St
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