Updated Duplex with Rooftop
New
For Sale
$439,900
1208 Argle Ave, Madison, TN 37115
Flexible two-unit layout includes private upstairs access and a separate electric meter.
Property Size2,101 SF
Price / SF$209.38
Days on Market2
Property Features for 1208 Argle Ave
General Information
Standard status
Active
Size
2,101 SF
Property subtype
Multi-Family
Building Details
Year Built
1954
Listing Agency:
Keller Williams Realty Nashville/Franklin
Listed By:
Corey Fager
(615) 778-1818
Source:
Shearonsellsteam
Added: Sep 5
Last Checked: Sep 5 at 3:20PM
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 Keller Williams Realty Nashville/Franklin
Investment Insights
Based on property information with market context.
This duplex offers 2,101 square feet arranged as a 3-bedroom, 1-bath lower residence and a 2-bedroom, 1-bath upper residence. The property can also function as a single-family home, providing flexibility for its next owner. The upstairs unit has a separate entrance and electric meter. Interior features include LVP and tile flooring, along with newer stainless steel appliances.
Built in 1954, the property sits on a 1/3-acre lot with mature trees. Recent improvements include the roof, fascia and soffit, gutters, and windows. Exterior features include a large front porch and rooftop deck, with additional outdoor space available on the lot.
Built in 1954, the property sits on a 1/3-acre lot with mature trees. Recent improvements include the roof, fascia and soffit, gutters, and windows. Exterior features include a large front porch and rooftop deck, with additional outdoor space available on the lot.
Key Highlights
- 2,101‑square‑foot duplex with 3‑bedroom and 2‑bedroom units
- Lower unit includes 3 bedrooms and 1 bath; upper unit includes 2 bedrooms and 1 bath
- Upstairs residence has a separate entrance and electric meter
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
$25,336
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
5.76%
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%
$506,720
$506.7K
Cap Rate 7%
$361,943
$361.9K
Cap Rate 9%
$281,511
$281.5K
Market Conditions
NOI Build-Up for 2,101 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
$38.6K $18.36/SF
− Vacancy
−$2.4K −$1.13/SF
EGI
$36.2K $17.23/SF
− OpEx
−$10.9K −$5.17/SF
NOI
$25.3K $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%
$506,720
Cap Rate 7%
$361,943
Cap Rate 9%
$281,511
Alternative Uses
Best Use
Multifamily LT 5
$361.9K
$316.7K – $422.3K
NOI $25,336 @ 7.0% cap · market cap 5.76%
Second Best
Apartment 5plus
$333.4K
$291.7K – $389.0K
NOI $23,337 @ 7.0% cap · market cap 5.31%
Theoretical Best
Warehouse
$2.54M
$2.23M – $2.97M
NOI $178,052 @ 7.0% cap · market cap 40.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
360
Businesses Nearby
Explore this area
Business Placement
Demographics for 37115, TN
39,821
Population
19,845
Households
2
Avg Household Size
37
Median Age
23%
College-Educated
82%
High-School Grad
21.5 sq mi
ZIP Area
1,852
Density / Sq Mi
$53,034
Median Household Income
$37,215
Median Earnings
$1,263
Median Rent
$271,100
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 - Flexible two-unit layout includes private upstairs access and a separate electric meter.
Where is this duplex located?
The property is located at 1208 Argle Ave Madison, TN.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: 2,101‑square‑foot duplex with 3‑bedroom and 2‑bedroom units; Lower unit includes 3 bedrooms and 1 bath; upper unit includes 2 bedrooms and 1 bath; Upstairs residence has a separate entrance and electric meter
