Updated Duplex with Separate
For Sale
$390,000
208 A E Palestine Ave, Madison, TN 37115
Each residence includes a fireplace, washer and dryer connections, and refreshed interior finishes.
Property Size1,612 SF
Price / SF$241.94
Days on Market50
Property Features for 208 A E Palestine Ave
General Information
Standard status
Active
Size
1,612 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Asking Price
$390,000
Amenities
fireplace
washer/dryer connections
Building Details
Year Built
1983
Buildings
1
Listing Agency:
Coldwell Banker Southern Realty
Listed By:
Edward Klem · License #376759
(615) 947-1188
Source:
Shearonsellsteam
Added: Sep 15
Changed: Oct 25
Last Checked: Oct 7 at 1:43PM
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 Coldwell Banker Southern Realty
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Investment Insights
Based on property information with market context.
Built in 1983, this 1,612-square-foot duplex contains two separately metered residences. Each unit offers two bedrooms, one full bathroom, a fireplace, washer and dryer connections, and refreshed interior finishes. Separate water and sewer meters allow individual utility usage to be allocated by residence.
The property is located at 208 A E Palestine Ave in Madison, less than eight miles from downtown Nashville and minutes from the Grand Ole Opry, Opry Mills, shopping, dining, and major commuter routes. The surrounding area also includes planned Madison Station, a mixed-use development proposed to include residences, retail, office space, childcare, and community gathering areas.
The property is located at 208 A E Palestine Ave in Madison, less than eight miles from downtown Nashville and minutes from the Grand Ole Opry, Opry Mills, shopping, dining, and major commuter routes. The surrounding area also includes planned Madison Station, a mixed-use development proposed to include residences, retail, office space, childcare, and community gathering areas.
Key Highlights
- Two‑unit duplex with 1,612 SF of building area
- Each unit includes 2 bedrooms and 1 full bath
- Separate electric, water, and sewer metering supports individual unit utility usage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,439
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$388,780
$388.8K
Cap Rate 7%
$277,700
$277.7K
Cap Rate 9%
$215,989
$216.0K
Market Conditions
NOI Build-Up for 1,612 SF
Gross rent
$29.6K $18.36/SF
− Vacancy
−$1.8K −$1.13/SF
EGI
$27.8K $17.23/SF
− OpEx
−$8.3K −$5.17/SF
NOI
$19.4K $12.06/SF
Area
Davidson County, TN
Vacancy
6.17%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$388,780
Cap Rate 7%
$277,700
Cap Rate 9%
$215,989
Alternative Uses
Best Use
Multifamily LT 5
$277.7K
$243.0K – $324.0K
NOI $19,439 @ 7.0% cap · market cap 4.98%
Second Best
Apartment 5plus
$255.8K
$223.8K – $298.4K
NOI $17,906 @ 7.0% cap · market cap 4.59%
Theoretical Best
Warehouse
$1.95M
$1.71M – $2.28M
NOI $136,611 @ 7.0% cap · market cap 35.03%
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
463
Businesses Nearby
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Business Placement
Demographics for 37115, TN
39,821
Population
19,845
Households
2
Avg Household Size
37
Median Age
23%
College-Educated
82%
High-School Grad
21.5 sq mi
ZIP Area
1,852
Density / Sq Mi
$53,034
Median Household Income
$37,215
Median Earnings
$1,263
Median Rent
$271,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes a fireplace, washer and dryer connections, and refreshed interior finishes.
Where is this duplex located?
The property is located at 208 A E Palestine Ave Madison, TN.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,612 SF of building area; Each unit includes 2 bedrooms and 1 full bath; Separate electric, water, and sewer metering supports individual unit utility usage
