Duplex with Vacant
For Sale
$399,900
1721 Westchester Dr, Nashville, TN 37207
One unit is vacant, while the second remains tenant-occupied and is shown only with an accepted offer and proof of funds.
Property Size1,320 SF
Days on Market155
Property Features for 1721 Westchester Dr
General Information
Standard status
Active
Size
1,320 SF
Property subtype
Residential Income
Zoning
Rs7.5
Taxes and HOA fees
Annual Taxes
$4,396
Building Details
Building Size
1,320 SF
Year Built
1989
Stories
2
Units
2
Listing Agency:
Dalamar Real Estate Services, LLC
(615) 300-0066
Listed By:
Toshia L. Portis
(615) 300-0066
Source:
Firstrealty
Added: Mar 8
Changed: Aug 8
Last Checked: Aug 9 at 1:11PM
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 Dalamar Real Estate Services, LLC
Investment Insights
Based on property information with market context.
This duplex at 1721 Westchester Dr includes two residential units, with the 1723 unit vacant and available for occupancy by an owner or tenant. The 1721 unit is currently tenant-occupied, and access is limited to showings following an accepted offer and verification of funds. Built in 1989, the property carries Rs7.5 zoning in Nashville, Tennessee.
Key Highlights
- Duplex with one vacant unit at 1723
- Second unit at 1721 is tenant‑occupied
- 1721 showings require an accepted offer and proof of funds
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
$14,994
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
3.75%
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%
$299,880
$299.9K
Cap Rate 7%
$214,200
$214.2K
Cap Rate 9%
$166,600
$166.6K
Market Conditions
NOI Build-Up for 1,320 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
$23.0K $17.40/SF
− Vacancy
−$1.5K −$1.17/SF
EGI
$21.4K $16.23/SF
− OpEx
−$6.4K −$4.87/SF
NOI
$15.0K $11.36/SF
Area
ZIP 37207
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%
$299,880
Cap Rate 7%
$214,200
Cap Rate 9%
$166,600
Alternative Uses
Best Use
Multifamily LT 5
$214.2K
$187.4K – $249.9K
NOI $14,994 @ 7.0% cap · market cap 3.75%
Second Best
Apartment 5plus
$196.6K
$172.0K – $229.3K
NOI $13,759 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$377.7K
$330.5K – $440.6K
NOI $26,437 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
309
Businesses Nearby
Explore this area
Business Placement
Demographics for 37207, TN
38,719
Population
18,698
Households
2.1
Avg Household Size
34
Median Age
33%
College-Educated
88%
High-School Grad
19.3 sq mi
ZIP Area
2,006
Density / Sq Mi
$60,102
Median Household Income
$38,115
Median Earnings
$1,200
Median Rent
$332,500
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 - One unit is vacant, while the second remains tenant-occupied and is shown only with an accepted offer and proof of funds.
Where is this duplex located?
The property is located at 1721 Westchester Dr Nashville, TN.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Duplex with one vacant unit at 1723; Second unit at 1721 is tenant‑occupied; 1721 showings require an accepted offer and proof of funds
