507 E Stevens St, Cookeville, TN 38501

New
$369,929
Property Type: Multi-Family Square Footage: 2,728 Status: Active
Current Price: $369,929 List Date: 2/26/2026 Last Modified: 2/26/2026

Description

Multiple units in one! 507 & 509 E Stevens Street present a rare opportunity to acquire a fully renovated multi-unit investment property in one of the city's most desirable locations. Situated in the Capshaw school zone, the property consists of a 3-bedroom, 1-bath single-family home (1,192 SF) and a separate two-unit structure featuring a 1 bed, 1 bath unit and a 2 bed, 1 bath unit (768 SF each). The property is grandfathered as multi-unit under RS-15 zoning and benefits from strong rental demand due to its location. All units underwent comprehensive renovations in 2022, including new HVACs, plumbing & sewer replacement, new water heaters, updated electrical components, new windows & doors, new flooring, fully remodeled bathrooms, new cabinets & countertops, new appliances, fresh trim and paint, and much more. This property offers predictable cash flow and long-term stability, making it ideal for investors and homeowners alike. 13 month home warranty for peace of mind.

More Information MLS# 1330604

Location, Tax & Legal Info

Area: Putnam County - 53 City/County Code: City Limits Elementary School: Capshaw Middle School: Avery Trace Total Tax: 1729.74 High School: Cookeville

Contract Info

Auction Y/N: No Listing Price: 369929 Current Price: $369,929 Status: Active Listing Date: 2026-02-26

General Property Description

Total Unfinished SqFt: 0 Lot Dimensions: 95x200 Utilities/Mo Avg: 0 Property Status: N/A Driveway: Paved SqFt - Total (Aprox): 2728 Number of Units: 3 Year Built: 1940

Remarks & Misc

Directions: From PCCH, S on S. Lowe St, L on Stevens St, property on R. Public Remarks: Multiple units in one! 507 & 509 E Stevens Street present a rare opportunity to acquire a fully renovated multi-unit investment property in one of the city's most desirable locations. Situated in the Capshaw school zone, the property consists of a 3-bedroom, 1-bath single-family home (1,192 SF) and a separate two-unit structure featuring a 1 bed, 1 bath unit and a 2 bed, 1 bath unit (768 SF each). The property is grandfathered as multi-unit under RS-15 zoning and benefits from strong rental demand due to its location. All units underwent comprehensive renovations in 2022, including new HVACs, plumbing & sewer replacement, new water heaters, updated electrical components, new windows & doors, new flooring, fully remodeled bathrooms, new cabinets & countertops, new appliances, fresh trim and paint, and much more. This property offers predictable cash flow and long-term stability, making it ideal for investors and homeowners alike. 13 month home warranty for peace of mind.

Income/Expenses

Gross Annual Income: 45840 Annual Oper Expenses: 24000

Property Sub-Type

House Converted: 1

Construction

Block: 1 Frame: 1

Type of Units

1 Bedroom Unit: 1 2 Bedroom Unit: 1 3 or more Bdrm Units: 1

Siding

Vinyl: 1

Sale Includes

No Furnishings: 1

Cooling

Central Cooling: 1

Floors

Laminate: 1

Garage/Parking

None: 1

Fuel

Electric: 1

Heat

Central: 1

Appliances

Range: 1 Refrigerator: 1

Other Rooms

Bedroom Main Level: 1

Roof

Metal: 1

New Financing

Cash: 1 Conventional: 1

Location Tax Legal Info

House #: 507 St Dir: E Street Name: Stevens St Suffix: St State/Province: TN Zip Code: 38501 PIN #: 053N B 014.01 Geo Lat: 36.155857 Geo Lon: -85.496793

Status Change Info

Status Change Date: 2026-02-26

IncomeExpenses

Net Operating Income: 19000

Property Features

Property Sub-Type: House Converted Type of Units: 1 Bedroom Unit; 2 Bedroom Unit; 3 or more Bdrm Units Sale Includes: No Furnishings Floors: Laminate Fuel: Electric Heat: Central Cooling: Central Cooling Appliances: Range; Refrigerator Construction: Block; Frame Roof: Metal Siding: Vinyl Other Rooms: Bedroom Main Level New Financing: Cash; Conventional
Listing Office: Skender-Newton Realty
IDX
Office Phone: 931-261-9001
Last Updated: February - 26 - 2026
The data relating to real estate for sale on this Web Site comes from the IDX Program of the Knoxville Area Association of REALTORS® Multiple Listing Service. © Copyright 2020 All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. This information is updated weekly, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision.