Updated One-Level
For Sale
$549,900
2721 Penn Meade Dr, Nashville, TN 37214
The property includes a fenced backyard, driveway parking, and updated HVAC units.
Property Size2,872 SF
Price / SF$191.47
Days on Market60
Property Features for 2721 Penn Meade Dr
General Information
Standard status
Active
Size
2,872 SF
Property subtype
Multi-Family
Additional Details
Furnished
No
Building Details
Year Built
1986
Listing Agency:
HALO Realty, LLC
Listed By:
Michelle Chambers · License #355054
(615) 822-3509
Source:
Shearonsellsteam
Added: Aug 9
Changed: Sep 25
Last Checked: Oct 7 at 3:00PM
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 HALO Realty, LLC
Investment Insights
Based on property information with market context.
This updated duplex offers one-level living with a fenced backyard and driveway parking. New HVAC units are identified for 2025/2026, adding a recent mechanical update to the property. The duplex is currently rented, providing an existing occupancy profile for review by qualified purchasers.
Located near Opryland, the property also offers a quick commute to Downtown Nashville. The address is 2721 Penn Meade Dr, Nashville, TN.
Located near Opryland, the property also offers a quick commute to Downtown Nashville. The address is 2721 Penn Meade Dr, Nashville, TN.
Key Highlights
- Duplex with updated one‑level living configuration
- New HVAC units identified for 2025/2026
- Fenced backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,448
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$728,960
$729.0K
Cap Rate 7%
$520,686
$520.7K
Cap Rate 9%
$404,978
$405.0K
Market Conditions
NOI Build-Up for 2,872 SF
Gross rent
$55.8K $19.44/SF
− Vacancy
−$3.8K −$1.31/SF
EGI
$52.1K $18.13/SF
− OpEx
−$15.6K −$5.44/SF
NOI
$36.4K $12.69/SF
Area
ZIP 37214
Vacancy
6.74%
Lease Rate
$19.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$728,960
Cap Rate 7%
$520,686
Cap Rate 9%
$404,978
Alternative Uses
Best Use
Multifamily LT 5
$520.7K
$455.6K – $607.5K
NOI $36,448 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$478.0K
$418.2K – $557.6K
NOI $33,458 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$744.4K
$651.4K – $868.5K
NOI $52,110 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
85
Businesses Nearby
Explore this area
Business Placement
Demographics for 37214, TN
30,480
Population
15,526
Households
2
Avg Household Size
38
Median Age
46%
College-Educated
93%
High-School Grad
21.9 sq mi
ZIP Area
1,392
Density / Sq Mi
$71,969
Median Household Income
$48,583
Median Earnings
$1,567
Median Rent
$315,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - The property includes a fenced backyard, driveway parking, and updated HVAC units.
Where is this duplex located?
The property is located at 2721 Penn Meade Dr Nashville, TN.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Duplex with updated one‑level living configuration; New HVAC units identified for 2025/2026; Fenced backyard
