Duplex with Updated Vacant
For Sale
$475,000
2556 Oak Hill Dr, Murfreesboro, TN 37130
One residence is refreshed and available, while the neighboring unit is currently rented.
Property Size2,520 SF
Lot Size1.00 Acre
Price / SF$188.49
Days on Market10
Property Features for 2556 Oak Hill Dr
General Information
Standard status
Active
Size
2,520 SF
Lot size
1.00 Acre
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Building Details
Year Built
1988
Listing Agency:
Onward Real Estate
(615) 234-5020
Listed By:
Jonathan Dodson 5127483709
Source:
Smokymountainshomefinder
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 29 at 6:45PM
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
Investment Insights
Based on property information with market context.
Built in 1988, this duplex provides 2,520 square feet across two residences, each with two bedrooms and one-and-a-half bathrooms. One unit is vacant and has been updated with fresh interior paint, vinyl flooring, and carpet. The second residence is occupied by a tenant, creating an established two-unit configuration with one available side.
The property occupies 1 acre in Oak Hill Subdivision near Oakland High School. Located at 2556 Oak Hill Dr in Murfreesboro, the layout supports either full-property ownership or occupancy of one unit alongside the rented residence.
The property occupies 1 acre in Oak Hill Subdivision near Oakland High School. Located at 2556 Oak Hill Dr in Murfreesboro, the layout supports either full-property ownership or occupancy of one unit alongside the rented residence.
Key Highlights
- Two‑unit duplex totaling 2,520 square feet
- Each unit includes 2 bedrooms and 1.5 bathrooms
- One vacant unit updated with interior paint, vinyl flooring, and carpet
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
$23,004
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
4.84%
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%
$460,080
$460.1K
Cap Rate 7%
$328,629
$328.6K
Cap Rate 9%
$255,600
$255.6K
Market Conditions
NOI Build-Up for 2,520 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
$34.8K $13.80/SF
− Vacancy
−$1.9K −$0.76/SF
EGI
$32.9K $13.04/SF
− OpEx
−$9.9K −$3.91/SF
NOI
$23.0K $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 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%
$460,080
Cap Rate 7%
$328,629
Cap Rate 9%
$255,600
Alternative Uses
Best Use
Multifamily LT 5
$328.6K
$287.6K – $383.4K
NOI $23,004 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$295.7K
$258.7K – $345.0K
NOI $20,699 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$635.3K
$555.9K – $741.2K
NOI $44,471 @ 7.0% cap · market cap 9.36%
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
155
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
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 residence is refreshed and available, while the neighboring unit is currently rented.
Where is this duplex located?
The property is located at 2556 Oak Hill Dr Murfreesboro, TN.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,520 square feet; Each unit includes 2 bedrooms and 1.5 bathrooms; One vacant unit updated with interior paint, vinyl flooring, and carpet
