Priced at $99,900, 704 Finley St presents a compelling opportunity for real estate investors seeking steady cash flow and long-term upside in Dyersburg. This well-maintained quadplex combines immediate rental income with value-add potential, making it an attractive addition to both seasoned and first-time investor portfolios.
A Smart Investment in a Growing Community
Dyersburg, Tennessee, is known for its small-town charm, strong sense of community, and convenient access to regional employment hubs. Located in northwest Tennessee, the city offers residents affordable living, access to local schools, shopping, dining, and medical facilities, and proximity to major roadways that connect to surrounding cities.
Properties in stable neighborhoods like Finley Street benefit from consistent rental demand, particularly for affordable multi-family housing.
704 Finley St is situated in a desirable residential area with easy access to everyday amenities. This strategic location enhances tenant retention and helps maintain occupancy rates, which is critical for sustained cash flow performance.
Property Overview: Four Units, Strong Income Stream
This quadplex features four separate residential units with a total of five bedrooms and four full bathrooms. The property offers 6 total parking spaces, including driveway and additional concrete parking, a practical amenity that tenants appreciate.
Unit Breakdown:
Unit 1: 2 bedrooms, 1 bathroom – Currently rented at $600 per month
Unit 2: Vacant – Requires renovation
Unit 3: 1 bedroom, 1 bathroom – Rented at $550 per month
Unit 4: 1 bedroom, 1 bathroom – Rented at $530 per month
Current total monthly rental income is $1,680 from the three occupied units. With Unit 2 vacant and ready for renovation, investors have the opportunity to further increase total monthly income once updates are completed and the unit is leased.
Financial Snapshot
At the current rental rate of $1,680 per month, the property generates $20,160 in annual gross rental income (from three occupied units). Utilities are currently on a single meter, with the owner covering the costs at approximately $350 per month, totaling around $4,200 annually.
Estimated Annual Financials (Current Occupancy):
Gross Income: $20,160
Utilities (Owner-Paid): ~$4,200
Net Before Other Expenses: ~$15,960
This does not include additional operating expenses such as maintenance, insurance, taxes, or property management. However, even when factoring in those costs, the purchase price of $99,900 positions this property with a potentially strong cap rate, especially after stabilizing the fourth unit.
Once Unit 2 is renovated and rented, assuming a conservative market rent of $600–$700 per month, total gross monthly income could rise to approximately $2,280–$2,380. That would bring annual gross income closer to $27,360–$28,560, significantly improving overall returns.
Value-Add Opportunity
One of the strongest aspects of this property is its upside potential. Unit 2 is currently vacant and in need of renovation. This provides investors with a clear value-add path:
Renovate Unit 2 with cosmetic updates (flooring, paint, fixtures, appliances).
Increase overall rental income by bringing the unit to market rates.
Potentially refinance after stabilization based on improved income performance.
Additionally, modest updates across the occupied units—such as upgraded lighting, modern hardware, or improved curb appeal—could justify gradual rent increases over time.
The ability to enhance value through relatively minor improvements makes this quadplex appealing to investors looking to force appreciation rather than relying solely on market appreciation.
Strong Management History
The property has a documented management history with one of the leading property management resources in the area. Available profit and loss statements, cash flow documentation, and maintenance logs provide transparency and confidence for buyers performing due diligence.
For investors who prefer a hands-off approach, continuing professional management may be an option. Alternatively, those seeking to maximize returns may choose to self-manage and reduce operating costs.
Having a proven operational track record significantly reduces risk, particularly for first-time multi-family investors who value predictable income.
Layout and Living Space
The property includes:
5 total bedrooms
4 full bathrooms
3 main-level bedrooms
2 main-level bathrooms
Each unit offers comfortable living arrangements suitable for individuals, couples, or small families. One-bedroom units are especially attractive in affordable rental markets, as they often experience steady demand from single tenants, retirees, or workforce renters.
The inclusion of multiple parking spaces is a practical advantage. With six total parking spots available, tenants have adequate off-street parking, which adds to the property’s overall appeal.
Why Multi-Family Makes Sense
Multi-family properties like this quadplex offer built-in risk mitigation. Unlike single-family rentals, where vacancy means 100% income loss, a four-unit property spreads risk across multiple tenants. Even with one vacant unit, the property continues generating income from the other three.
This diversified income stream is especially valuable in smaller markets, where stability and consistent occupancy are key investment priorities.
For new investors, this property provides an accessible entry point into multi-family real estate at a relatively low purchase price. For experienced investors, it offers a cash-flowing asset with clear room for income growth.
Market Appeal in Dyersburg
Dyersburg’s rental market benefits from its affordability compared to larger Tennessee cities. Tenants seeking reasonably priced housing often prefer small, well-maintained apartment-style properties in established neighborhoods.
With rising housing costs across many parts of the country, secondary markets like Dyersburg continue to attract renters looking for value. Properties priced under $100,000 with immediate income potential are increasingly rare, adding to this quadplex’s appeal.
Investment Scenarios
Scenario 1: Buy and Hold with Renovation
Renovate Unit 2, increase rents gradually, and hold long term for steady cash flow and appreciation.
Scenario 2: Stabilize and Refinance
Improve income, increase property value based on higher net operating income, then refinance to pull out equity while maintaining ownership.
Scenario 3: Portfolio Expansion
Add this property as a diversification play within a broader Tennessee rental portfolio, balancing higher-priced assets with strong cash-flowing smaller markets.
Final Thoughts
704 Finley St represents a rare opportunity to acquire a four-unit property at an accessible price point with immediate rental income and clear upside potential. With three units already generating $1,680 per month and one unit ready for renovation, the property offers both stability and growth.
Its location in Dyersburg, strong management history, practical layout, and parking amenities all contribute to its investment appeal. Whether you’re building your first portfolio asset or expanding an established rental collection, this quadplex delivers the fundamentals investors seek: cash flow, manageable entry cost, and value-add potential.
FROM ZILLOW