Updated Triplex with Dedicated
For Sale
$525,000
Pending
1309 Jones Ave, Nashville, TN 37207
Three-unit property with renovated kitchens, upgraded electrical systems, and an encapsulated crawlspace.
Property Size1,960 SF
Days on Market52
Property Features for 1309 Jones Ave
General Information
Standard status
Pending
Size
1,960 SF
Total Parking Spaces
6
Property subtype
Residential Income
Site & Location
Neighborhood
East Nashville
Additional Details
Multifamily Units
3
Building Details
Year Built
1938
Listing Agency:
Oyster Real Estate Advisors
Listed By:
Wyatt Wallace 6159247896 · License #342967
(615) 924-7896
Source:
Northnashvillehomes4sale
Added: Sep 3
Changed: Oct 1
Last Checked: Oct 23 at 7:48AM
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 Oyster Real Estate Advisors
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Investment Insights
Based on property information with market context.
This triplex at 1309 Jones Ave includes 1,960 square feet across three units and was originally built in 1938. Recent improvements include renovated kitchens, new electrical systems, and an encapsulated crawlspace. Six dedicated parking spaces add practical convenience for residents and visitors.
Located in Nashville, TN 37207, the property offers a three-unit configuration suited to residential income ownership or an owner-occupant arrangement. Buyers should complete their own due diligence regarding operating expenses and other property matters.
Located in Nashville, TN 37207, the property offers a three-unit configuration suited to residential income ownership or an owner-occupant arrangement. Buyers should complete their own due diligence regarding operating expenses and other property matters.
Key Highlights
- Three‑unit triplex at 1309 Jones Ave, Nashville, TN 37207
- 1,960 square feet of property area
- Updated kitchens and new electrical systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,264
Cap Rate
4.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,280
$445.3K
Cap Rate 7%
$318,057
$318.1K
Cap Rate 9%
$247,378
$247.4K
Market Conditions
NOI Build-Up for 1,960 SF
Gross rent
$34.1K $17.40/SF
− Vacancy
−$2.3K −$1.17/SF
EGI
$31.8K $16.23/SF
− OpEx
−$9.5K −$4.87/SF
NOI
$22.3K $11.36/SF
Area
ZIP 37207
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 Rate 5%
$445,280
Cap Rate 7%
$318,057
Cap Rate 9%
$247,378
Alternative Uses
Best Use
Multifamily LT 5
$318.1K
$278.3K – $371.1K
NOI $22,264 @ 7.0% cap · market cap 4.24%
Second Best
Apartment 5plus
$291.9K
$255.4K – $340.5K
NOI $20,430 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$560.8K
$490.7K – $654.3K
NOI $39,255 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with renovated kitchens, upgraded electrical systems, and an encapsulated crawlspace.
Where is this triplex located?
The property is located at 1309 Jones Ave Nashville, TN.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Three‑unit triplex at 1309 Jones Ave, Nashville, TN 37207; 1,960 square feet of property area; Updated kitchens and new electrical systems
