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.
Under contract - showing
Price cut: $24K (2/27)
$555,900
505 W Spring St, Lebanon, TN 37087
3beds
--baths
3,178sqft
Est.:
Multi Family
Built in 1949
-- sqft lot
$-- Zestimate®
$175/sqft
$-- HOA
What's special
- 38 days |
- 431 |
- 12 |
Zillow last checked: 7 hours ago
Listing updated: 21 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
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: $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 |
|---|---|---|
| 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
$2,854/mo
Principal & interest
$2673
Property taxes
$181
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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