Duplex with Refreshed
For Sale
$340,000
1610 Minerva Dr, Murfreesboro, TN 37130
One residence is available for occupancy, while the adjoining unit is leased.
Property Size1,683 SF
Lot Size0.39 Acres
Price / SF$202.02
Days on Market9
Property Features for 1610 Minerva Dr
General Information
Standard status
Active
Size
1,683 SF
Lot size
0.39 Acres
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1968
Listing Agency:
Onward Real Estate
Listed By:
Jonathan Dodson 5127483709
(615) 234-5020
Source:
Findyournashvilleareahome
Added: Oct 12
Changed: Oct 19
Last Checked: Oct 19 at 2:23PM
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 Onward Real Estate
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Investment Insights
Based on property information with market context.
Built in 1968, this duplex contains two residences, each configured with two bedrooms and one bathroom. The vacant side has received interior paint, vinyl flooring, and carpet updates. The neighboring unit is occupied by a tenant.
The property occupies a 0.39-acre lot in Toddington Heights, near Black Fox Elementary School.
The property occupies a 0.39-acre lot in Toddington Heights, near Black Fox Elementary School.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- Updates to the vacant unit include interior paint, vinyl flooring, and carpet
- The adjoining residence is tenant‑occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,364
Cap Rate
4.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$307,280
$307.3K
Cap Rate 7%
$219,486
$219.5K
Cap Rate 9%
$170,711
$170.7K
Market Conditions
NOI Build-Up for 1,683 SF
Gross rent
$23.2K $13.80/SF
− Vacancy
−$1.3K −$0.76/SF
EGI
$21.9K $13.04/SF
− OpEx
−$6.6K −$3.91/SF
NOI
$15.4K $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 Rate 5%
$307,280
Cap Rate 7%
$219,486
Cap Rate 9%
$170,711
Alternative Uses
Best Use
Multifamily LT 5
$219.5K
$192.1K – $256.1K
NOI $15,364 @ 7.0% cap · market cap 4.52%
Second Best
Apartment 5plus
$197.5K
$172.8K – $230.4K
NOI $13,824 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$424.3K
$371.3K – $495.0K
NOI $29,700 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
237
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - One residence is available for occupancy, while the adjoining unit is leased.
Where is this duplex located?
The property is located at 1610 Minerva Dr Murfreesboro, TN.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; Updates to the vacant unit include interior paint, vinyl flooring, and carpet; The adjoining residence is tenant‑occupied
