Updated Residential Income
For Sale
$450,000
208 Myhr Grn, Nashville, TN 37221
The condominium is located in a 55+ community with a shared pool and clubroom.
Property Size1,600 SF
Price / SF$281.25
Days on Market59
Property Features for 208 Myhr Grn
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Zero Lot Line
Site & Location
Neighborhood
Bellevue
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,531
Amenities
clubroom
pool
gas fireplace
Building Details
Building Size
1,600 SF
Year Built
1987
Listing Agency:
Partners Real Estate, LLC
Listed By:
Laurie Sheinkopf · License #267619
(615) 497-4012
Source:
Chordrealestate
Added: Aug 27
Changed: Oct 23
Last Checked: Oct 23 at 4:24PM
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 Partners Real Estate, LLC
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Investment Insights
Based on property information with market context.
This 1,600-square-foot condominium has three bedrooms and two bathrooms. Updates include fresh interior paint and new lighting throughout. The kitchen features granite countertops and stainless steel appliances, while a gas fireplace anchors the living area. A primary bedroom with an ensuite bath is complemented by two additional bedrooms and a second full bathroom. An indoor Florida room and private patio extend the living space.
Built in 1987, the property is part of a 55+ community with a clubroom and community pool.
Built in 1987, the property is part of a 55+ community with a clubroom and community pool.
Key Highlights
- 1,600‑square‑foot condominium with 3 bedrooms and 2 bathrooms
- Located in a 55+ community
- Granite kitchen countertops and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,677
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$333,540
$333.5K
Cap Rate 7%
$238,243
$238.2K
Cap Rate 9%
$185,300
$185.3K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$32.6K $20.40/SF
− Vacancy
−$2.3K −$1.45/SF
EGI
$30.3K $18.95/SF
− OpEx
−$13.6K −$8.53/SF
NOI
$16.7K $10.42/SF
Area
ZIP 37221
Vacancy
7.10%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$333,540
Cap Rate 7%
$238,243
Cap Rate 9%
$185,300
Alternative Uses
Best Use
Apartment 5plus
$238.2K
$208.5K – $278.0K
NOI $16,677 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$537.6K
$470.4K – $627.2K
NOI $37,632 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
493
Businesses Nearby
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Business Placement
Demographics for 37221, TN
42,312
Population
20,323
Households
2.1
Avg Household Size
39
Median Age
62%
College-Educated
97%
High-School Grad
49.3 sq mi
ZIP Area
858
Density / Sq Mi
$99,083
Median Household Income
$58,191
Median Earnings
$1,778
Median Rent
$432,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The condominium is located in a 55+ community with a shared pool and clubroom.
Where is this residential income property located?
The property is located at 208 Myhr Grn Nashville, TN.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,600‑square‑foot condominium with 3 bedrooms and 2 bathrooms; Located in a 55+ community; Granite kitchen countertops and stainless steel appliances
