587 Baker Rd, Martin, TN, 38237
About This Home
**Income-Producing Property:** This 36-unit apartment complex is situated in the heart of Martin, TN, just 1.2 miles from the University of Tennessee at Martin. This property presents an excellent opportunity to enhance your rental portfolio. Martin is a vibrant university town with various amenities that attract residents to the area. All units are 2-bedroom, 1-bathroom units that feature washer and dryer hookups. Some of the improvements made over the last 12 months include a new roof on buildings A, D, E, H, and J, as well as renovations to 16 units. Additionally, the back deck has been replaced for all 36 units. The current property manager is local and is willing to continue managing the property, facilitating a smooth transition for the new owner.
Getting Around
Car-Dependent
Very Limited Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1995
Materials
- Construction materials: Aluminum Siding,Brick
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Appliances
- Laundry features: Individual,Electric Dryer Hookup,Washer Hookup
Bedrooms & Bathrooms
- Bedrooms: 4
Features
- Flooring: Carpet,Laminate,Vinyl
- Finished area above ground: 870
Heating & Cooling
- Heating features: Central
- Cooling features: Central Air
Interior Area
- Total structure area: 870
- Total interior livable area: 870 sqft
Property
Details
- Parcel number: 078 03910 000
- Attached to another structure: Yes
- Zoning: Commercial
- Special condition: Standard
Features
- Levels: One
- Stories: 2
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Cold Wave
- Lightning
- Earthquake
- Ice Storm
- Strong Wind
- Tornado
- Winter Weather
- Heat Wave
How This Home’s Risks Compare
FEMA Declared Disasters Across Tennessee Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $19,214 | $230,568 |
| Home Insurance | $3,287 | $39,444 |
| Property Taxes | $1,393 | $16,716 |
| Electricity | $175 | $2,103 |
| Total | $24,069 | $288,828 |
Income You'd Need if You Spent...
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-02-19 | Price change | $4,150,000 |
| 2025-12-06 | Listed for sale | $4,250,000 |
| 2024-09-06 | Sold | $2,725,000 |
| 2023-07-31 | Listing removed | -- |
| 2023-03-20 | Listed for rent | $750 |
| 2022-11-30 | Sold | $2,375,000 |
| 2021-08-27 | Listing removed | -- |
| 2021-07-27 | Listed for rent | $600 |
| 1995-02-16 | Sold | $8,500 |
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