Brick Duplex with Renovated
For Sale
$449,000
1905 Moran Avenue, Nashville, TN 37216
Two-unit brick property with distinct layouts, laundry hookups, and an updated one-bedroom unit.
Property Size1,920 SF
Price / SF$233.85
Days on Market220
Property Features for 1905 Moran Avenue
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Additional Details
Gross Income
$34,200
Amenities
laundry hookups
Building Details
Year Built
1951
Construction
brick
Listing Agency:
(615) 347-9799
Listed By:
Rich Ramsey
(615) 347-9799
Source:
Benchmarkrealtytn
Added: Jan 3
Changed: Aug 10
Last Checked: Aug 10 at 3:47AM
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 Rich Ramsey
Investment Insights
Based on property information with market context.
Built in 1951, this 1,920-square-foot brick duplex includes two separately configured residences. The smaller unit offers one bedroom and one bathroom on a single level, while the larger residence has three bedrooms and two bathrooms arranged across two floors. Both units include laundry hookups, and original oak hardwood flooring remains in each residence.
The one-bedroom side has received updates to its kitchen, bathroom, windows, and interior paint. The larger unit places its living, kitchen, bedroom, and bathroom areas on the main level, with two additional bedrooms and a second bathroom upstairs. Both residences have tenants who have remained in place for 3+ years. The property is located at 1905 Moran Avenue in Nashville, TN 37216.
The one-bedroom side has received updates to its kitchen, bathroom, windows, and interior paint. The larger unit places its living, kitchen, bedroom, and bathroom areas on the main level, with two additional bedrooms and a second bathroom upstairs. Both residences have tenants who have remained in place for 3+ years. The property is located at 1905 Moran Avenue in Nashville, TN 37216.
Key Highlights
- 1,920 SF brick duplex built in 1951
- One side is 600sf with 1 bed/1 bath; the other is 1280sf with 3 beds/2 baths
- Renovated unit includes kitchen, bath, windows, and paint updates
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
$21,809
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
4.86%
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%
$436,180
$436.2K
Cap Rate 7%
$311,557
$311.6K
Cap Rate 9%
$242,322
$242.3K
Market Conditions
NOI Build-Up for 1,920 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
$33.4K $17.40/SF
− Vacancy
−$2.3K −$1.17/SF
EGI
$31.2K $16.23/SF
− OpEx
−$9.3K −$4.87/SF
NOI
$21.8K $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%
$436,180
Cap Rate 7%
$311,557
Cap Rate 9%
$242,322
Alternative Uses
Best Use
Multifamily LT 5
$311.6K
$272.6K – $363.5K
NOI $21,809 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$285.9K
$250.2K – $333.6K
NOI $20,013 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$488.8K
$427.7K – $570.2K
NOI $34,214 @ 7.0% cap · market cap 7.62%
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
94
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 distinct layouts, laundry hookups, and an updated one-bedroom unit.
Where is this duplex located?
The property is located at 1905 Moran Avenue Nashville, TN.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 1,920 SF brick duplex built in 1951; One side is 600sf with 1 bed/1 bath; the other is 1280sf with 3 beds/2 baths; Renovated unit includes kitchen, bath, windows, and paint updates
