Duplex with Central
For Sale
$359,900
1004 Rachels Square Dr, Hermitage, TN 37076
Income-producing residential property with central HVAC and a 1985 construction date.
Property Size2,000 SF
Price / SF$179.95
Days on Market13
Property Features for 1004 Rachels Square Dr
General Information
Standard status
Active
Size
2,000 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
Residentia
Net Operating Income
$23,800
Taxes and HOA fees
Annual Taxes
$3,137
Amenities
Central Air
Central
Building Details
Building Size
2,000 SF
Year Built
1985
Stories
2
Listing Agency:
Robinson Properties Realty & Const.
(615) 642-4444
Listed By:
Bill Robinson · License #16203
(615) 642-4444
Source:
Evrealestate
Added: Aug 10
Changed: Aug 14
Last Checked: Aug 22 at 6:18AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Robinson Properties Realty & Const.
Investment Insights
Based on property information with market context.
This duplex property contains approximately 2,000 square feet and was built in 1985. Interior features include central air conditioning and central heating, providing climate control for the residential units. The property is identified with residential zoning.
The asset is located at 1004 Rachels Square Dr in Hermitage, Davidson County. Directional information places the property near Old Hickory Boulevard, Andrew Jackson Drive, and Interstate 40, with Rachel's Square identified as the immediate subdivision setting.
The asset is located at 1004 Rachels Square Dr in Hermitage, Davidson County. Directional information places the property near Old Hickory Boulevard, Andrew Jackson Drive, and Interstate 40, with Rachel's Square identified as the immediate subdivision setting.
Key Highlights
- Duplex property totaling 2,000 square feet
- Built in 1985
- Central air conditioning and central heating
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,118
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$482,360
$482.4K
Cap Rate 7%
$344,543
$344.5K
Cap Rate 9%
$267,978
$268.0K
Market Conditions
NOI Build-Up for 2,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$36.7K $18.36/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$34.5K $17.23/SF
− OpEx
−$10.3K −$5.17/SF
NOI
$24.1K $12.06/SF
Area
Davidson County, TN
Vacancy
6.17%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$482,360
Cap Rate 7%
$344,543
Cap Rate 9%
$267,978
Alternative Uses
Best Use
Multifamily LT 5
$344.5K
$301.5K – $402.0K
NOI $24,118 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$317.4K
$277.7K – $370.3K
NOI $22,216 @ 7.0% cap · market cap 6.17%
Theoretical Best
Warehouse
$2.42M
$2.12M – $2.82M
NOI $169,492 @ 7.0% cap · market cap 47.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
Explore this area
Business Placement
Demographics for 37076, TN
39,326
Population
19,235
Households
2
Avg Household Size
37
Median Age
40%
College-Educated
95%
High-School Grad
27.8 sq mi
ZIP Area
1,415
Density / Sq Mi
$74,555
Median Household Income
$50,286
Median Earnings
$1,438
Median Rent
$348,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Income-producing residential property with central HVAC and a 1985 construction date.
Where is this duplex located?
The property is located at 1004 Rachels Square Dr Hermitage, TN.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Duplex property totaling 2,000 square feet; Built in 1985; Central air conditioning and central heating
