Duplex with Rental
For Sale
$474,900
1115 Campbell St, Nashville, TN 37206
Two-unit residential property with one occupied side and a separate vacant unit for flexible use.
Property Size1,449 SF
Price / SF$327.74
Days on Market41
Property Features for 1115 Campbell St
General Information
Standard status
Active
Size
1,449 SF
Property subtype
Multi-Family
Occupancy
50%
Building Details
Year Built
1984
Listing Agency:
Synergy Realty Network, LLC
(615) 371-2424
Listed By:
Tyler C. King
Source:
Dreamdoorstn
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 29 at 11:56AM
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 Synergy Realty Network, LLC
Investment Insights
Based on property information with market context.
Built in 1984, this 1,449-square-foot duplex at 1115 Campbell St includes two residential units. One side is occupied under a month-to-month lease, while the other unit is currently vacant and was previously leased. The property is being sold as-is.
The Nashville address places the duplex near downtown, East Nashville restaurants and entertainment, and major interstates. The surrounding area includes ongoing revitalization and new construction. The lot is described as having potential for division into two parcels, subject to applicable approvals and requirements.
The Nashville address places the duplex near downtown, East Nashville restaurants and entertainment, and major interstates. The surrounding area includes ongoing revitalization and new construction. The lot is described as having potential for division into two parcels, subject to applicable approvals and requirements.
Key Highlights
- 1,449‑square‑foot duplex built in 1984
- One unit leased month‑to‑month; the second unit is vacant
- Vacant side was previously leased
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
$16,459
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
3.47%
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%
$329,180
$329.2K
Cap Rate 7%
$235,129
$235.1K
Cap Rate 9%
$182,878
$182.9K
Market Conditions
NOI Build-Up for 1,449 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
$25.2K $17.40/SF
− Vacancy
−$1.7K −$1.17/SF
EGI
$23.5K $16.23/SF
− OpEx
−$7.1K −$4.87/SF
NOI
$16.5K $11.36/SF
Area
Nashville, TN
Vacancy
6.74%
Lease Rate
$17.40 /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%
$329,180
Cap Rate 7%
$235,129
Cap Rate 9%
$182,878
Alternative Uses
Best Use
Multifamily LT 5
$235.1K
$205.7K – $274.3K
NOI $16,459 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$215.8K
$188.8K – $251.7K
NOI $15,103 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$368.9K
$322.8K – $430.4K
NOI $25,821 @ 7.0% cap · market cap 5.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
Explore this area
Business Placement
Demographics for 37206, TN
27,792
Population
14,323
Households
1.9
Avg Household Size
34
Median Age
60%
College-Educated
94%
High-School Grad
7.8 sq mi
ZIP Area
3,563
Density / Sq Mi
$88,605
Median Household Income
$58,213
Median Earnings
$1,564
Median Rent
$529,400
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 - Two-unit residential property with one occupied side and a separate vacant unit for flexible use.
Where is this duplex located?
The property is located at 1115 Campbell St Nashville, TN.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: 1,449‑square‑foot duplex built in 1984; One unit leased month‑to‑month; the second unit is vacant; Vacant side was previously leased
