Updated Two-Unit
For Sale
$349,450
3608 Willow Creek Ct, Nashville, TN 37207
Two-story layout includes updated kitchens, main-level half baths, laundry hookups, and patio access for both units.
Property Size1,664 SF
Price / SF$210.01
Days on Market33
Property Features for 3608 Willow Creek Ct
General Information
Standard status
Active
Size
1,664 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Building Details
Year Built
1985
Buildings
1
Stories
2
Listing Agency:
Crye-Leike, Inc., REALTORS
(615) 300-7567
Listed By:
Cindy Lockhart
Source:
Fiddletreerealty
Added: Jul 29
Changed: Aug 28
Last Checked: Aug 29 at 12:03PM
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 Crye-Leike, Inc., REALTORS
Investment Insights
Based on property information with market context.
This 1,664 SF duplex, built in 1985, presents a two-story configuration with two residential units. Each side includes an updated kitchen, refreshed flooring, bright main living space, a half bath on the first floor, and washer/dryer hookups. Both units extend to a large backyard with patio areas on each side of the building.
Upstairs, each residence contains two bedrooms, a full bathroom, and a linen closet. One unit is currently leased, while the other is vacant for tenant placement or owner occupancy. The roof was replaced in approx. 2020. The property is located at 3608 Willow Creek Ct in Nashville, TN 37207, a short distance from Downtown Nashville. Tenants pay all utilities.
Upstairs, each residence contains two bedrooms, a full bathroom, and a linen closet. One unit is currently leased, while the other is vacant for tenant placement or owner occupancy. The roof was replaced in approx. 2020. The property is located at 3608 Willow Creek Ct in Nashville, TN 37207, a short distance from Downtown Nashville. Tenants pay all utilities.
Key Highlights
- Two‑unit duplex with 1,664 SF of total property size
- Each unit has 2 bedrooms, an upstairs full bath, and a main‑level half bath
- Updated kitchens and flooring throughout the living areas
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
$18,901
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
5.41%
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%
$378,020
$378.0K
Cap Rate 7%
$270,014
$270.0K
Cap Rate 9%
$210,011
$210.0K
Market Conditions
NOI Build-Up for 1,664 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
$29.0K $17.40/SF
− Vacancy
−$2.0K −$1.17/SF
EGI
$27.0K $16.23/SF
− OpEx
−$8.1K −$4.87/SF
NOI
$18.9K $11.36/SF
Area
ZIP 37207
Vacancy
6.74%
Lease Rate
$17.40 /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%
$378,020
Cap Rate 7%
$270,014
Cap Rate 9%
$210,011
Alternative Uses
Best Use
Multifamily LT 5
$270.0K
$236.3K – $315.0K
NOI $18,901 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$247.8K
$216.8K – $289.1K
NOI $17,345 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$476.1K
$416.6K – $555.4K
NOI $33,326 @ 7.0% cap · market cap 9.54%
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
72
Businesses Nearby
Explore this area
Business Placement
Demographics for 37207, TN
38,719
Population
18,698
Households
2.1
Avg Household Size
34
Median Age
33%
College-Educated
88%
High-School Grad
19.3 sq mi
ZIP Area
2,006
Density / Sq Mi
$60,102
Median Household Income
$38,115
Median Earnings
$1,200
Median Rent
$332,500
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 - Two-story layout includes updated kitchens, main-level half baths, laundry hookups, and patio access for both units.
Where is this duplex located?
The property is located at 3608 Willow Creek Ct Nashville, TN.
What is the asking price?
The asking price for this property is $349,450.
What are key features of this property?
This property features: Two‑unit duplex with 1,664 SF of total property size; Each unit has 2 bedrooms, an upstairs full bath, and a main‑level half bath; Updated kitchens and flooring throughout the living areas
