Duplex Investment
For Sale
$499,999
1406 Bradyville Pike, Murfreesboro, TN 37130
Two separately configured units support both traditional leasing and furnished short-term rental operations.
Property Size2,233 SF
Days on Market14
Property Features for 1406 Bradyville Pike
General Information
Standard status
Active
Size
2,233 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
Commercial
Units
Unit Mix
1 x 3BR/1.5BA + bonus room, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$55,800
Taxes and HOA fees
Annual Taxes
$2,886
Building Details
Building Size
2,233 SF
Year Built
1978
Stories
1
Units
2
Listing Agency:
VOLUME Realty
(615) 278-4827
Listed By:
Hannah Wray
(615) 278-4827
Source:
Spotlightproperties
Added: Jul 30
Changed: Aug 12
Last Checked: Aug 12 at 2:15AM
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 VOLUME Realty
Investment Insights
Based on property information with market context.
Built in 1978, this commercial-zoned duplex includes two distinct residential units with different operating formats. The larger unit offers 3 bedrooms, 1.5 bathrooms, and a bonus room, while the second includes 2 bedrooms and 1 bathroom and is furnished for Airbnb use. Furnishings may be negotiated separately.
The property is located at 1406 Bradyville Pike in Murfreesboro, near MTSU. Unit 1408 is leased through October 2026, and the property has an estimated 11% cap rate based on the stated operating assumptions. Improvements include an HVAC replacement completed in 2022, a new sewer line, and a roof that is less than 11 years old. The property is in a flood zone, with no flooding history reported by the seller.
The property is located at 1406 Bradyville Pike in Murfreesboro, near MTSU. Unit 1408 is leased through October 2026, and the property has an estimated 11% cap rate based on the stated operating assumptions. Improvements include an HVAC replacement completed in 2022, a new sewer line, and a roof that is less than 11 years old. The property is in a flood zone, with no flooding history reported by the seller.
Key Highlights
- Duplex near MTSU with an estimated 11% cap rate
- 1408 unit: 3 bedrooms, 1.5 bathrooms, bonus room; leased through October 2026
- 1406 unit: 2 bedrooms, 1 bathroom; operated as a fully furnished Airbnb
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
$20,384
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
4.08%
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%
$407,680
$407.7K
Cap Rate 7%
$291,200
$291.2K
Cap Rate 9%
$226,489
$226.5K
Market Conditions
NOI Build-Up for 2,233 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
$30.8K $13.80/SF
− Vacancy
−$1.7K −$0.76/SF
EGI
$29.1K $13.04/SF
− OpEx
−$8.7K −$3.91/SF
NOI
$20.4K $9.13/SF
Area
Murfreesboro, TN
Vacancy
5.50%
Lease Rate
$13.80 /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%
$407,680
Cap Rate 7%
$291,200
Cap Rate 9%
$226,489
Alternative Uses
Best Use
Multifamily LT 5
$291.2K
$254.8K – $339.7K
NOI $20,384 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$262.0K
$229.3K – $305.7K
NOI $18,341 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$562.9K
$492.6K – $656.8K
NOI $39,406 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
244
Businesses Nearby
Explore this area
Business Placement
Demographics for 37130, TN
59,677
Population
25,838
Households
2.3
Avg Household Size
32
Median Age
37%
College-Educated
91%
High-School Grad
54.1 sq mi
ZIP Area
1,103
Density / Sq Mi
$60,389
Median Household Income
$37,710
Median Earnings
$1,157
Median Rent
$347,100
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 - Two separately configured units support both traditional leasing and furnished short-term rental operations.
Where is this duplex located?
The property is located at 1406 Bradyville Pike Murfreesboro, TN.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Duplex near MTSU with an estimated 11% cap rate; 1408 unit: 3 bedrooms, 1.5 bathrooms, bonus room; leased through October 2026; 1406 unit: 2 bedrooms, 1 bathroom; operated as a fully furnished Airbnb
