Updated Triplex with Dedicated
New
For Sale
$525,000
1309 Jones Ave, Nashville, TN 37207
Three-unit property with renovated kitchens, upgraded electrical systems, and an encapsulated crawlspace.
Property Size1,960 SF
Price / SF$267.86
Days on Market6
Property Features for 1309 Jones Ave
General Information
Standard status
Active
Size
1,960 SF
Total Parking Spaces
6
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Building Details
Year Built
1938
Listing Agency:
Oyster Real Estate Advisors
Listed By:
Wyatt Wallace 6159247896 · License #342967
(615) 549-6844
Source:
Northnashvillehomes4sale
Added: Sep 3
Changed: Sep 8
Last Checked: Sep 8 at 2:32PM
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
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 = 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
$22,264
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
4.24%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
292
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?
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
