Brick Duplex with Detached
For Sale
$485,000
1416 Greenland Ave, Nashville, TN 37216
Two-unit brick property with one renovated side, newer windows, and a detached garage.
Property Size1,646 SF
Price / SF$294.65
Days on Market77
Property Features for 1416 Greenland Ave
General Information
Standard status
Active
Size
1,646 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$6,094
Listing Agency:
Benchmark Realty, LLC
(615) 510-3006
Listed By:
Jeniste' Bell
(615) 975-0237
Source:
Exprealty
Added: Jun 20
Changed: Aug 30
Last Checked: Aug 31 at 6:55PM
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 Benchmark Realty, LLC
Investment Insights
Based on property information with market context.
This 1,646 SF duplex is constructed with an all-brick exterior and includes two distinct residential sides. One side has been renovated, while the other requires additional work. Newer windows are installed throughout the property, and a detached garage provides separate accessory space.
The property sits on a spacious yard with mature trees and wildlife. Its residential duplex configuration supports continued income use, with existing improvements and additional work identified on one side.
The property sits on a spacious yard with mature trees and wildlife. Its residential duplex configuration supports continued income use, with existing improvements and additional work identified on one side.
Key Highlights
- 1,646 SF all‑brick duplex
- One side renovated; the other side needs work
- Newer windows throughout the property
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
$18,697
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
3.86%
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%
$373,940
$373.9K
Cap Rate 7%
$267,100
$267.1K
Cap Rate 9%
$207,744
$207.7K
Market Conditions
NOI Build-Up for 1,646 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
$28.6K $17.40/SF
− Vacancy
−$1.9K −$1.17/SF
EGI
$26.7K $16.23/SF
− OpEx
−$8.0K −$4.87/SF
NOI
$18.7K $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 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%
$373,940
Cap Rate 7%
$267,100
Cap Rate 9%
$207,744
Alternative Uses
Best Use
Multifamily LT 5
$267.1K
$233.7K – $311.6K
NOI $18,697 @ 7.0% cap · market cap 3.86%
Second Best
Apartment 5plus
$245.1K
$214.5K – $286.0K
NOI $17,157 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$419.0K
$366.7K – $488.9K
NOI $29,332 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Explore this area
Business Placement
Demographics for 37216, TN
18,191
Population
9,574
Households
1.9
Avg Household Size
36
Median Age
57%
College-Educated
96%
High-School Grad
6.7 sq mi
ZIP Area
2,715
Density / Sq Mi
$82,134
Median Household Income
$54,407
Median Earnings
$1,507
Median Rent
$404,100
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-unit brick property with one renovated side, newer windows, and a detached garage.
Where is this duplex located?
The property is located at 1416 Greenland Ave Nashville, TN.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 1,646 SF all‑brick duplex; One side renovated; the other side needs work; Newer windows throughout the property
