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.
Under contract - showing
Price cut: $99.6K (7/29)
$3,799,900
587 Baker Rd, Martin, TN 38237
16beds
8baths
870sqft
Multi Family
Built in 1995
-- sqft lot
$-- Zestimate®
$4,368/sqft
$-- HOA
What's special
Washer and dryer hookups
- 61 days
- 45
- 2
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#: 3276724
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 16
- Bathrooms: 8
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: $4,368/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
| Date | Event | Price |
|---|---|---|
| 8/20/2026 | Contingent | $3,799,900$4,368/sqft |
Source: | ||
| 7/29/2026 | Price change | $3,799,900-2.6%$4,368/sqft |
Source: | ||
| 7/13/2026 | Listed for sale | $3,899,500-6%$4,482/sqft |
Source: | ||
| 7/1/2026 | Listing removed | $4,150,000$4,770/sqft |
Source: | ||
| 2/19/2026 | Price change | $4,150,000-2.4%$4,770/sqft |
Source: | ||
| 12/6/2025 | Listed for sale | $4,250,000+56%$4,885/sqft |
Source: | ||
| 9/6/2024 | Sold | $2,725,000+14.7%$3,132/sqft |
Source: Public Record Report a problem | ||
| 7/31/2023 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 3/20/2023 | Listed for rent | $750+25%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 11/30/2022 | Sold | $2,375,000+27841.2%$2,730/sqft |
Source: RRAR as distributed by MLS GRID #43830 Report a problem | ||
| 8/27/2021 | Listing removed | -- |
Source: Zillow Rental Manager Report a problem | ||
| 7/27/2021 | Listed for rent | $600$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 2/16/1995 | Sold | $8,500$10/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax 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.Climate risks
Neighborhood: 38237
Nearby schools
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.


