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  • $3,899,500

    587 Baker Rd, Martin, TN 38237

    8beds
    4baths
    870sqft
    : 
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    Multi Family
    Built in 1995
    -- sqft lot
    $-- Zestimate®
    $4,482/sqft
    $-- HOA

    What's special

    Washer and dryer hookups
    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.
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    Zillow last checked:

    Listing updated:

    Listed by:

    Jessica Stanfield 931-209-2819,

    Tennessee Property Group 931-264-8219

    Source: RealTracs MLS as distributed by MLS GRID,MLS#: 3276724MLS Logo

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      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 8
      • Bathrooms: 4
      Heating
      • Central
      Cooling
      • Central Air
      Appliances
      • Laundry: Individual, Electric Dryer Hookup, Washer Hookup
      Features
      • Flooring: Carpet, Laminate
      Interior area
      • Total structure area: 870
      • Total interior livable area: 870 sqft
      • Finished area above ground: 870

      Property

      Features
      • Levels: Two
      • Stories: 2
      Details
      • Parcel number: 078 03910 000
      • Zoning: Commercial
      • Special conditions: Standard

      Construction

      Type & style
      • Home type: MultiFamily
      • Property subtype: Multi Family
      • Attached to another structure: Yes
      Materials
      • Aluminum Siding, Brick
      Condition
      • New construction: No
      • Year built: 1995

      Utilities & green energy

      • Sewer: Public Sewer
      • Water: Public
      • Utilities for property: Water Available

      Community & HOA

      HOA
      • Has HOA: No
      Location
      • Region: Martin

      Financial & listing details

      • Price per square foot: $4,482/sqft
      • Tax assessed value: $1,557,600
      • Annual tax amount: $20,517
      • Date on market: 7/13/2026
      • Inclusions: Negotiable
      • Total actual rent: 3600
      • Tenant pays: Electricity, Water

        Estimated market value

        Not available

        Estimated sales range

        Not available

        Not available

        Price history

        DateEventPrice
        7/13/2026Listed for sale$3,899,500-6%$4,482/sqft
        Source: RealTracs MLS as distributed by MLS GRID #3276724 Report a problem
        7/1/2026Listing removed$4,150,000$4,770/sqft
        Source: RealTracs MLS as distributed by MLS GRID #3059099 Report a problem
        2/19/2026Price change$4,150,000-2.4%$4,770/sqft
        Source: RealTracs MLS as distributed by MLS GRID #3059099 Report a problem
        12/6/2025Listed for sale$4,250,000+56%$4,885/sqft
        Source: RealTracs MLS as distributed by MLS GRID #3059099 Report a problem
        9/6/2024Sold$2,725,000+14.7%$3,132/sqft
        Source: Public Record Report a problem
        7/31/2023Listing removed--
        Source: Zillow Rentals Report a problem
        3/20/2023Listed for rent$750+25%$1/sqft
        Source: Zillow Rentals Report a problem
        11/30/2022Sold$2,375,000+27841.2%$2,730/sqft
        Source: RRAR as distributed by MLS GRID #43830 Report a problem
        8/27/2021Listing removed--
        Source: Zillow Rental Manager Report a problem
        7/27/2021Listed for rent$600$1/sqft
        Source: Zillow Rental Manager Report a problem
        2/16/1995Sold$8,500$10/sqft
        Source: Public Record Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$20,517 +9.1%$623,040
        2024$18,803 -7.8%$623,040 -7.8%
        2023$20,393 -4.8%$675,720 +17.6%
        2022$21,422 $574,760
        2021$21,422 $574,760
        2020$21,422 +10.4%$574,760
        2019$19,410 +15.4%$574,760 +15.4%
        2018$16,817 -6.4%$497,960 +0.7%
        2017$17,965 +0%$494,640
        2016$17,964 $494,640 +0%
        2015$17,964 $494,638
        2014$17,964 $494,638
        2013$17,964 +2.6%$494,638 +7.6%
        2005$17,517 $459,755
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
        See how much you could borrow to make a competitive offer.

        Climate risks

        Neighborhood: 38237

        Getting around

        17 / 100
        Car-Dependent
        34 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • Elementary: Martin Elementary
        • Middle: Martin Middle School
        • High: Westview 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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