Renovated Condo Income
For Sale
$249,900
3100 Casa Ct, Nashville, TN 37214
Updated condo with contemporary kitchen and bath finishes, newer major systems, and convenient highway access.
Property Size930 SF
Price / SF$268.71
Days on Market38
Property Features for 3100 Casa Ct
General Information
Standard status
Active
Size
930 SF
Property subtype
Land
Additional Details
Highway Access
Yes
Multifamily Units
1
Building Details
Year Built
1985
Listing Agency:
New Direction Real Estate
(615) 538-0109
Listed By:
Everhaven Group
(615) 538-0109
Source:
Everhavennashville
Added: Jul 26
Changed: Aug 31
Last Checked: Aug 31 at 3:18PM
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 New Direction Real Estate
Investment Insights
Based on property information with market context.
This 930-square-foot condo in the Patio Villa Community was built in 1985 and has been renovated throughout. The kitchen includes stainless steel appliances, white cabinetry, and quartz countertops, while the bathroom has a newer sink, vanity, and tub-and-shower combination. Luxury vinyl plank flooring extends through the interior, and the water heater has also been updated.
The property is located at 3100 Casa Ct in Nashville’s Donelson area, with highway access supporting convenient commuting. The HVAC system and roof are both only a few years old, and the property has no HOA.
The property is located at 3100 Casa Ct in Nashville’s Donelson area, with highway access supporting convenient commuting. The HVAC system and roof are both only a few years old, and the property has no HOA.
Key Highlights
- 930‑square‑foot condo in the Patio Villa Community
- Renovated kitchen with stainless steel appliances, white cabinets, and quartz countertops
- Updated bathroom with modern finishes, new sink and vanity, and tub/shower combo
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
$10,834
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
4.34%
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%
$216,680
$216.7K
Cap Rate 7%
$154,771
$154.8K
Cap Rate 9%
$120,378
$120.4K
Market Conditions
NOI Build-Up for 930 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
$21.2K $22.80/SF
− Vacancy
−$1.5K −$1.62/SF
EGI
$19.7K $21.18/SF
− OpEx
−$8.9K −$9.53/SF
NOI
$10.8K $11.65/SF
Area
ZIP 37214
Vacancy
7.10%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
45.00%
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%
$216,680
Cap Rate 7%
$154,771
Cap Rate 9%
$120,378
Alternative Uses
Best Use
Apartment 5plus
$154.8K
$135.4K – $180.6K
NOI $10,834 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$241.1K
$210.9K – $281.2K
NOI $16,874 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
74
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condo with contemporary kitchen and bath finishes, newer major systems, and convenient highway access.
Where is this residential income property located?
The property is located at 3100 Casa Ct Nashville, TN.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 930‑square‑foot condo in the Patio Villa Community; Renovated kitchen with stainless steel appliances, white cabinets, and quartz countertops; Updated bathroom with modern finishes, new sink and vanity, and tub/shower combo
