Duplex with Updated Upper
New
For Sale
$735,000
1500 Riverside Dr, Nashville, TN 37206
A two-unit layout pairs a three-bedroom residence with a separate one-bedroom apartment.
Property Size1,823 SF
Price / SF$403.18
Days on Market4
Property Features for 1500 Riverside Dr
General Information
Standard status
Active
Size
1,823 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
fenced yard
outdoor entertaining area
gated driveway
Building Details
Year Built
1930
Buildings
1
Listing Agency:
Fridrich & Clark Realty
Listed By:
Catherine (Katie) Valle · License #RTC71732
Source:
Mullinsrealtygroup
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 7 at 9:04AM
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 Fridrich & Clark Realty
Investment Insights
Based on property information with market context.
Built in 1930, this 1,823-square-foot duplex contains two distinct units: a three-bedroom, one-bath residence on the lower level and a one-bedroom, one-bath unit above. The upper apartment has an updated kitchen with new cabinetry and appliances. Both refrigerators and both washer-and-dryer sets are included. The property also has a fully enclosed yard, an outdoor gathering area, and a gated driveway.
The duplex is in East Nashville, near Café Roze, Tabla Rasa, Schulman’s, Shelby Bottoms, and Cornelia Airpark.
The duplex is in East Nashville, near Café Roze, Tabla Rasa, Schulman’s, Shelby Bottoms, and Cornelia Airpark.
Key Highlights
- 1,823‑square‑foot duplex built in 1930
- Lower unit offers 3 bedrooms and 1 bathroom
- Upper unit has 1 bedroom, 1 bathroom, and an updated kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,708
Cap Rate
2.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$414,160
$414.2K
Cap Rate 7%
$295,829
$295.8K
Cap Rate 9%
$230,089
$230.1K
Market Conditions
NOI Build-Up for 1,823 SF
Gross rent
$31.7K $17.40/SF
− Vacancy
−$2.1K −$1.17/SF
EGI
$29.6K $16.23/SF
− OpEx
−$8.9K −$4.87/SF
NOI
$20.7K $11.36/SF
Area
Nashville, TN
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%
$414,160
Cap Rate 7%
$295,829
Cap Rate 9%
$230,089
Alternative Uses
Best Use
Multifamily LT 5
$295.8K
$258.9K – $345.1K
NOI $20,708 @ 7.0% cap · market cap 2.82%
Second Best
Apartment 5plus
$271.5K
$237.5K – $316.7K
NOI $19,002 @ 7.0% cap · market cap 2.59%
Theoretical Best
Office A
$464.1K
$406.1K – $541.4K
NOI $32,486 @ 7.0% cap · market cap 4.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
219
Businesses Nearby
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Business Placement
Demographics for 37206, TN
27,792
Population
14,323
Households
1.9
Avg Household Size
34
Median Age
60%
College-Educated
94%
High-School Grad
7.8 sq mi
ZIP Area
3,563
Density / Sq Mi
$88,605
Median Household Income
$58,213
Median Earnings
$1,564
Median Rent
$529,400
Median Home Value
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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 two-unit layout pairs a three-bedroom residence with a separate one-bedroom apartment.
Where is this duplex located?
The property is located at 1500 Riverside Dr Nashville, TN.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: 1,823‑square‑foot duplex built in 1930; Lower unit offers 3 bedrooms and 1 bathroom; Upper unit has 1 bedroom, 1 bathroom, and an updated kitchen
