If you want to lower your housing costs while building equity in Clarksville, house hacking near Austin Peay State University can work in your favor. A growing student body, steady military demand from Fort Campbell, and a mix of small multifamily and single-family homes give you options. With the right plan, you can live in one unit or bedroom and have your renters help pay the mortgage.
House hacking near APSU: why it works
What house hacking looks like day-to-day
House hacking is simple: you live in the home and rent the other bedroom(s) or unit(s). Near a university, that often means leasing to students on academic timelines or to service members working at Fort Campbell. You handle basic management and keep the home running, but your tenants help cover expenses. Expect to coordinate move-ins around August, set clear house rules, and respond to maintenance quickly.
Aligning the strategy with your goals
Start by choosing your priority:
- Minimize your cost of living: rent by the room or maximize occupancy in a duplex to offset the mortgage.
- Grow cash flow: buy a layout with strong per-bedroom rent potential and keep turnover costs low.
- Build long-term equity: target well-located properties near campus and downtown, then plan to convert to a full rental later.
APSU’s record enrollment points to ongoing student housing demand, which supports these approaches near campus and along transit corridors to downtown Clarksville according to APSU.
Property types and leasing tactics that fit a campus market
Single-family homes with rentable space
A 3 to 5 bedroom home within a short drive or bike ride to APSU can work well. Look for:
- Split bedroom layouts or a finished basement for privacy
- Two living areas that make shared living easier
- Driveway or on-street parking that fits multiple cars
Rent-by-the-room often produces higher gross rent, but it requires clearer rules and more hands-on management.
Small multifamily (duplex to fourplex)
Duplexes through fourplexes let you live in one unit and rent the others. Separate kitchens and entrances reduce friction, and leases are simpler to manage. Zoning and density rules vary by parcel, so verify the property’s current zoning and any overlays before you buy with local planning resources.
Rent-by-the-room vs. one lease per unit
- Rent-by-the-room: higher potential income and flexibility to fill bedrooms at different times, but more coordination and turnover.
- One lease per unit: easier management, clearer accountability, and potentially lower turnover. Pricing power may be lower than per-bedroom in the closest campus blocks, but stability can be better.
Screening, guarantors, and lease structure
Use consistent screening criteria for everyone and follow fair housing laws. With student tenants, ask for co-signers or proof of income. Spell out house rules: quiet hours, guests, parking, cleaning, and shared-utilities. Align security deposit handling and move-in/move-out inspections with Tennessee’s landlord-tenant rules on deposits and disclosures see Tennessee Code overview.
Turnover timing around an academic calendar
Peak demand hits late spring through August. Pre-lease 60 to 90 days out, schedule make-ready work the week after move-out, and hold showings while you finish touch-ups. Military tenants can add mid-year demand tied to PCS orders from Fort Campbell, so keep some flexibility in your timelines.
Financing and numbers for an owner-occupied investment
Owner-occupant loan options and occupancy requirements
- FHA 1–4 unit: as little as 3.5 percent down, owner-occupancy required. Three- and four-unit deals may face extra tests on reserves and projected rents per HUD.
- VA loan: eligible veterans and active-duty buyers can purchase 1–4 units with no down payment if they occupy one unit. This is especially relevant near Fort Campbell see VA loan overview.
- Conventional: often higher down payments, but competitive rates. Some lenders will credit a portion of projected rents for qualification. Ask for lender-specific guidance.
Using projected rent in your underwriting
Support your rent assumptions with real, local listings near APSU and manager quotes. Keep documentation to share with your lender. Be conservative: model a modest rent, include a vacancy factor, and stress-test for one empty bedroom or unit.
Estimating expenses and reserves
Include the following in your numbers:
- Property taxes confirm current county and city rates
- Insurance (landlord or mixed owner-occupied policies)
- Utilities you cover, internet for shared houses, lawn care
- Maintenance and CapEx reserves (roof, HVAC, appliances)
- Property management, if you do not self-manage
- Permit and business-license fees if applicable see City permits and business tax
Break-even, cash flow, and return metrics
Run three quick views:
- Break-even rent: monthly expenses minus your own target contribution
- Cash-on-cash return: annual pre-tax cash flow divided by your cash invested
- Stress test: one vacant room or unit for two months per year, plus a 10 to 15 percent maintenance reserve
If the deal still works under the stress test, you likely have a stronger buffer for real-world variance.
Exit strategies from day one
Plan multiple paths:
- Live-in for a year, then convert to full rental
- Refinance after improvements or appreciation
- Sell and roll equity into a larger property
Buying in a walkable or transit-friendly area near APSU and downtown can help preserve resale demand across student and workforce renter pools.
Rules, HOAs, and neighborhood expectations to confirm
Zoning, occupancy limits, and use categories
Confirm how many unrelated occupants are allowed, whether your intended use is permitted, and any parking rules. For conversions, density, and multifamily allowances, verify parcel zoning and any overlays with the local planning commission CMCRPC.
Rental registration and permitting
If you plan short-term or mid-term rentals, the City of Clarksville may require permits and inspections. Review permit requirements and any exemptions before hosting City permits.
HOA/COA leasing restrictions
If your target property is in an HOA or condo, check the covenants for minimum lease terms, caps on rentals, guest rules, and parking limitations that could affect shared living.
Short-term and mid-term rental limitations
Listings under 30 days are often treated as short-term rentals and may require a city permit and a business license. Mid-term rentals could still trigger permitting based on use and length of stay. Align your strategy with what is allowed locally City permits and business tax.
Insurance and liability considerations
Ask your agent for a policy suited to owner-occupied rentals. Add liability coverage, consider rent-loss protection, and require tenant renters insurance in your leases.
Operations, management, and risk control
Self-manage vs. hire a property manager
- Self-manage: higher control and savings, but time-intensive during leasing and turnovers.
- Professional manager: fees reduce your net income but can stabilize occupancy, streamline maintenance, and enforce leases. Consider professional help if you have limited time or multiple units.
Make-ready, maintenance, and vendor relationships
Create checklists for paint, flooring touch-ups, cleaning, locks, smoke/CO detectors, and landscaping. Build a vendor bench: handyman, plumber, HVAC, and cleaners who understand quick turnarounds. Target 5 to 7 days from move-out to rent-ready whenever possible.
House rules, shared spaces, and conflict resolution
Provide written rules and a conflict process in the lease. Hold a move-in meeting to walk through cleaning schedules, trash pickup, laundry etiquette, parking, and quiet hours. Handle issues early with documented notices that follow Tennessee timelines see statutory context.
Pricing, marketing, and vacancy management
Price strategically by location: the closer to APSU and downtown, the more weight you can place on walkability. Use professional photos, clear floor plans, and detailed room measurements. Pre-lease 60 to 90 days ahead of August move-ins. Offer virtual tours for out-of-town students and service members.
Safety, security, and privacy upgrades
Add keyed bedroom locks where legal, video doorbells on exterior entries, good outdoor lighting, and secure mail handling. For duplexes, separate utilities when feasible and define storage and parking clearly.
How a local agent accelerates an APSU house hack
Targeting the right micro-neighborhoods
Proximity to campus, bus routes, and downtown amenities can shape rent and turnover. Your agent can balance walkability with parking, zoning, and affordability so your house hack fits your lifestyle and numbers.
Sourcing deals and supporting the numbers
From on-market multifamily to single-family homes with rentable layouts, a local agent can flag properties with strong rent-by-the-room potential, pull rent comps, and sanity-check underwriting. They can also connect you with lenders who understand FHA and VA for 2 to 4 units HUD FHA overview and VA multi-unit guidance.
Leasing setup and trusted vendor introductions
Lean on an agent’s network for lease templates aligned with Tennessee law, recommended property managers, and vendors for quick turns. If you plan short-term or mid-term stays, they can point you to the right city contacts for permits City permits.
Timeline from offer to move-in
A clean house-hack timeline lines up closing with your make-ready week and pre-leased tenants. Build in time for permit checks, insurance updates, and utility transfers. Confirm property taxes and assessment assumptions so your escrow is accurate Montgomery County tax info.
Scaling to the next property
Document your systems, track your actuals vs. pro forma, and keep a list of repeat vendors. When you are ready to grow, refine your criteria to target higher-yield blocks or add a small multifamily nearby. If you want help building that roadmap, let’s talk.
If you are considering an APSU-area house hack, get tailored guidance from a local, investor-savvy agent who can help you run the numbers and source the right property. Schedule a conversation with Gracie Youngblood to map your strategy.
FAQs
Is there steady renter demand near APSU?
- APSU announced record enrollment for fall 2025. Growing student counts support nearby off-campus housing demand, especially around August move-ins APSU enrollment report.
Can I use FHA or VA to buy a duplex or fourplex and house hack?
- Yes. FHA and VA both allow 1–4 unit purchases for owner-occupants, with program-specific rules on down payments, reserves, and occupancy FHA basics and VA multi-unit overview.
Do I need a permit to do short-term rentals in Clarksville?
- The City of Clarksville requires permits for many short-term rentals and may require a business license. Review city rules and any exemptions before hosting guests City permits.
What do I need to know about security deposits in Tennessee?
- Tennessee law sets rules for holding deposits in a separate account and for inspections and notices. Follow the statute’s procedures and keep documentation for move-in and move-out Tennessee Code reference.
How do I check property taxes for underwriting?
- Use Montgomery County’s official resources to review current tax rates and assessment ratios, then confirm the city and county portions for your exact address tax rates.
Can I convert a single-family to a duplex or add an ADU?
- It depends on zoning, lot size, and overlays. Before planning a conversion or ADU, confirm permitted uses, density, and setbacks with the local planning commission zoning info.
