Fully Renovated Duplex with 3BR
For Sale
Contact for pricing
120 Cross Timbers Drive, Nashville, TN 37221
Two renovated 3-bedroom residences with separate interior private entries provide turnkey income or multi-generational living.
Property Size2,340 SF
Price / SF$241.45
Days on Market62
Property Features for 120 Cross Timbers Drive
General Information
Standard status
Active
Size
2,340 SF
Property subtype
Multifamily
Zoning
RS15
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Year Built
1974
Year Renovated
2026
Units
2
Tenancy
Multi
Listing Agency:
simpliHOM
Listed By:
Romany Gayed · License #365468
Source:
Crexi
Added: Jun 11
Changed: Aug 10
Last Checked: Aug 10 at 12:41PM
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 simpliHOM
Investment Insights
Based on property information with market context.
This fully renovated duplex includes two spacious units, each with 3 bedrooms and 1.5 bathrooms. Both residences are accessed through a shared exterior entry, while private entrances inside create separation between the two living areas. The home has been updated throughout with fresh paint, new flooring, and new appliances, supporting a clean, move-in-ready feel.
The property is located near shopping, dining, parks, and major commuter routes, with convenient access to downtown Nashville. That combination of nearby daily conveniences and commuter connectivity can be helpful for tenants and owner-occupants alike.
For investors, the layout supports a two-unit rental setup with modernized finishes and updated appliances in each unit. For owner-occupants, the duplex configuration can be used to offset housing costs by renting the second unit while living in the other. The property’s practical design, privacy between units, and recent improvements make it well-suited for buyers looking for a ready-to-use residential income opportunity.
The property is located near shopping, dining, parks, and major commuter routes, with convenient access to downtown Nashville. That combination of nearby daily conveniences and commuter connectivity can be helpful for tenants and owner-occupants alike.
For investors, the layout supports a two-unit rental setup with modernized finishes and updated appliances in each unit. For owner-occupants, the duplex configuration can be used to offset housing costs by renting the second unit while living in the other. The property’s practical design, privacy between units, and recent improvements make it well-suited for buyers looking for a ready-to-use residential income opportunity.
Key Highlights
- Fully renovated duplex built in 1974 with two spacious 3‑bedroom, 1.5‑bath units
- Approx. 2,340 SF total living space with comfortable, spacious layouts in both residences
- Shared exterior entry with separate private interior entrances for each unit, offering added privacy
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
$26,580
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
4.70%
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%
$531,600
$531.6K
Cap Rate 7%
$379,714
$379.7K
Cap Rate 9%
$295,333
$295.3K
Market Conditions
NOI Build-Up for 2,340 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
$40.7K $17.40/SF
− Vacancy
−$2.7K −$1.17/SF
EGI
$38.0K $16.23/SF
− OpEx
−$11.4K −$4.87/SF
NOI
$26.6K $11.36/SF
Area
ZIP 37221
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%
$531,600
Cap Rate 7%
$379,714
Cap Rate 9%
$295,333
Alternative Uses
Best Use
Multifamily LT 5
$379.7K
$332.3K – $443.0K
NOI $26,580 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$348.4K
$304.9K – $406.5K
NOI $24,391 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$786.2K
$688.0K – $917.3K
NOI $55,037 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
Explore this area
Business Placement
Demographics for 37221, TN
42,312
Population
20,323
Households
2.1
Avg Household Size
39
Median Age
62%
College-Educated
97%
High-School Grad
49.3 sq mi
ZIP Area
858
Density / Sq Mi
$99,083
Median Household Income
$58,191
Median Earnings
$1,778
Median Rent
$432,900
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 renovated 3-bedroom residences with separate interior private entries provide turnkey income or multi-generational living.
Where is this duplex located?
The property is located at 120 Cross Timbers Drive Nashville, TN.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Fully renovated duplex built in 1974 with two spacious 3‑bedroom, 1.5‑bath units; Approx. 2,340 SF total living space with comfortable, spacious layouts in both residences; Shared exterior entry with separate private interior entrances for each unit, offering added privacy
