Fully Furnished Short-Term Rental
For Sale
$699,990
113B Elmhurst Ave, Nashville, TN 37207
Modern 4-bedroom, 3-bath home offered fully furnished for immediate short-term rental use.
Property Size2,096 SF
Price / SF$333.96
Days on Market133
Property Features for 113B Elmhurst Ave
General Information
Standard status
Active
Size
2,096 SF
Property subtype
Mixed Use
Additional Details
Business Included
Yes
Highway Access
Yes
Amenities
3
Building Details
Year Built
2019
Listing Agency:
eXp Realty
(888) 519-5113
Listed By:
Faith Swift
(615) 967-6769
Source:
Xome
Added: Apr 28
Changed: Sep 2
Last Checked: Sep 7 at 5:11AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This modern 4-bedroom, 3-bath home is presented as a turnkey opportunity and is being sold fully furnished. The property includes an open-concept layout, spacious bedrooms, hardwood floors, and stainless steel appliances. Elevated living space of over 2,000 square feet is complemented by multiple outdoor living spaces designed for guest hosting.
Located at 113B Elmhurst Ave in Nashville, the home is described as being minutes from Downtown Nashville and convenient to Germantown, East Nashville, I-24, and I-65. Proximity to restaurants, nightlife, and entertainment is highlighted as part of the guest appeal. A video is available for a virtual tour, and a proforma and rental history are available upon request.
Located at 113B Elmhurst Ave in Nashville, the home is described as being minutes from Downtown Nashville and convenient to Germantown, East Nashville, I-24, and I-65. Proximity to restaurants, nightlife, and entertainment is highlighted as part of the guest appeal. A video is available for a virtual tour, and a proforma and rental history are available upon request.
Key Highlights
- 2019‑built modern 4BR/3BA home with over 2,000 sq ft of elevated living space
- Offered fully furnished for immediate short‑term rental use or personal occupancy
- Open‑concept layout with hardwood floors and stainless steel appliances
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
$21,847
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
3.12%
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%
$436,940
$436.9K
Cap Rate 7%
$312,100
$312.1K
Cap Rate 9%
$242,744
$242.7K
Market Conditions
NOI Build-Up for 2,096 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
$42.8K $20.40/SF
− Vacancy
−$3.0K −$1.45/SF
EGI
$39.7K $18.95/SF
− OpEx
−$17.9K −$8.53/SF
NOI
$21.8K $10.42/SF
Area
ZIP 37207
Vacancy
7.10%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$436,940
Cap Rate 7%
$312,100
Cap Rate 9%
$242,744
Alternative Uses
Best Use
Apartment 5plus
$312.1K
$273.1K – $364.1K
NOI $21,847 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$599.7K
$524.7K – $699.6K
NOI $41,978 @ 7.0% cap · market cap 6.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
426
Businesses Nearby
Explore this area
Business Placement
Demographics for 37207, TN
38,719
Population
18,698
Households
2.1
Avg Household Size
34
Median Age
33%
College-Educated
88%
High-School Grad
19.3 sq mi
ZIP Area
2,006
Density / Sq Mi
$60,102
Median Household Income
$38,115
Median Earnings
$1,200
Median Rent
$332,500
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?
Short term rental property - Modern 4-bedroom, 3-bath home offered fully furnished for immediate short-term rental use.
Where is this short term rental property located?
The property is located at 113B Elmhurst Ave Nashville, TN.
What is the asking price?
The asking price for this property is $699,990.
What are key features of this property?
This property features: 2019‑built modern 4BR/3BA home with over 2,000 sq ft of elevated living space; Offered fully furnished for immediate short‑term rental use or personal occupancy; Open‑concept layout with hardwood floors and stainless steel appliances
