Duplex with Central
For Sale
$569,900
1520 16th Ave N, Nashville, TN 37208
Two-unit residential property with central heating and cooling in Nashville’s Davidson County.
Property Size2,000 SF
Price / SF$284.95
Days on Market35
Property Features for 1520 16th Ave N
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Residential Income
Zoning
RS5
Net Operating Income
$40,800
Taxes and HOA fees
Annual Taxes
$6,777
Amenities
Central Air
Central
Building Details
Building Size
2,000 SF
Year Built
2020
Stories
1
Listing Agency:
(615) 294-6910
Listed By:
Brian Bequette
(615) 294-6910
Source:
Evrealestate
Added: Jul 9
Changed: Aug 2
Last Checked: Aug 12 at 6:19AM
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 Brian Bequette
Investment Insights
Based on property information with market context.
This duplex offers 2,000 square feet of residential space with central heating and air conditioning. Completed in 2020, the property provides a relatively recent building profile for a two-unit residential asset.
Located at 1520 16th Ave N in Nashville, the property is within Davidson County and carries RS5 zoning. Access is noted from 16th Ave.
Located at 1520 16th Ave N in Nashville, the property is within Davidson County and carries RS5 zoning. Access is noted from 16th Ave.
Key Highlights
- Duplex property with 2,000 square feet
- Built in 2020
- Central heating and air conditioning
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
$22,718
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
3.99%
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%
$454,360
$454.4K
Cap Rate 7%
$324,543
$324.5K
Cap Rate 9%
$252,422
$252.4K
Market Conditions
NOI Build-Up for 2,000 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
$34.8K $17.40/SF
− Vacancy
−$2.3K −$1.17/SF
EGI
$32.5K $16.23/SF
− OpEx
−$9.7K −$4.87/SF
NOI
$22.7K $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%
$454,360
Cap Rate 7%
$324,543
Cap Rate 9%
$252,422
Alternative Uses
Best Use
Multifamily LT 5
$324.5K
$284.0K – $378.6K
NOI $22,718 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$297.8K
$260.6K – $347.5K
NOI $20,847 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$509.1K
$445.5K – $594.0K
NOI $35,640 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,654
Businesses Nearby
Explore this area
Business Placement
Demographics for 37208, TN
21,609
Population
10,793
Households
2
Avg Household Size
30
Median Age
50%
College-Educated
91%
High-School Grad
4.8 sq mi
ZIP Area
4,502
Density / Sq Mi
$62,682
Median Household Income
$41,510
Median Earnings
$1,527
Median Rent
$417,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with central heating and cooling in Nashville’s Davidson County.
Where is this duplex located?
The property is located at 1520 16th Ave N Nashville, TN.
What is the asking price?
The asking price for this property is $569,900.
What are key features of this property?
This property features: Duplex property with 2,000 square feet; Built in 2020; Central heating and air conditioning
