Two-Unit Duplex with Separate Rear
New
For Sale
$1,087,500
1351 Pennock Ave, Nashville, TN 37207
A 2026-built property pairs a larger primary home with a detached rear residence, each offering a distinct floor plan.
Property Size3,574 SF
Price / SF$304.28
Days on Market5
Property Features for 1351 Pennock Ave
General Information
Standard status
Active
Size
3,574 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
Rs5ov
Units
Unit Mix
1 x 4BR/3.5BA, 1 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,182
Amenities
sunroom
covered porch
fenced in backyard
laundry room
Central Air
Central
Garage Faces Rear, Attached
Building Details
Building Size
3,574 SF
Year Built
2026
Buildings
2
Stories
3
Listing Agency:
COMPASS
Listed By:
Kristen Kosch
(615) 585-3555
Source:
Evrealestate
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 8:13AM
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 COMPASS
Investment Insights
Based on property information with market context.
Completed in 2026, this 3,574-square-foot duplex property includes a main house and a separate rear residence. The main home has four bedrooms, three and a half bathrooms, a sunroom, a covered porch off the primary bedroom, and a fenced backyard. The rear home offers two bedrooms, two bathrooms, and its own laundry room.
The property occupies a corner lot on Pennock Ave in Nashville. Neighborhood restaurants and coffee shops are within walking distance, and downtown is a short drive away. The East Bank, including the new Nissan Stadium, Oracle’s River North campus, and mixed-use residential and hotel projects, borders the area.
The property occupies a corner lot on Pennock Ave in Nashville. Neighborhood restaurants and coffee shops are within walking distance, and downtown is a short drive away. The East Bank, including the new Nissan Stadium, Oracle’s River North campus, and mixed-use residential and hotel projects, borders the area.
Key Highlights
- 3,574‑square‑foot duplex property on a corner lot
- Main house: 4 bedrooms, 3.5 bathrooms, sunroom, and fenced backyard
- Separate rear residence: 2 bedrooms, 2 bathrooms, and dedicated laundry room
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
$40,597
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
3.73%
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%
$811,940
$811.9K
Cap Rate 7%
$579,957
$580.0K
Cap Rate 9%
$451,078
$451.1K
Market Conditions
NOI Build-Up for 3,574 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
$62.2K $17.40/SF
− Vacancy
−$4.2K −$1.17/SF
EGI
$58.0K $16.23/SF
− OpEx
−$17.4K −$4.87/SF
NOI
$40.6K $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%
$811,940
Cap Rate 7%
$579,957
Cap Rate 9%
$451,078
Alternative Uses
Best Use
Multifamily LT 5
$580.0K
$507.5K – $676.6K
NOI $40,597 @ 7.0% cap · market cap 3.73%
Second Best
Apartment 5plus
$532.2K
$465.7K – $620.9K
NOI $37,253 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$1.02M
$894.8K – $1.19M
NOI $71,580 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
438
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - A 2026-built property pairs a larger primary home with a detached rear residence, each offering a distinct floor plan.
Where is this duplex located?
The property is located at 1351 Pennock Ave Nashville, TN.
What is the asking price?
The asking price for this property is $1,087,500.
What are key features of this property?
This property features: 3,574‑square‑foot duplex property on a corner lot; Main house: 4 bedrooms, 3.5 bathrooms, sunroom, and fenced backyard; Separate rear residence: 2 bedrooms, 2 bathrooms, and dedicated laundry room
