3-Unit Residential
3734 Baxter Ave, Nashville, TN 37216
For Sale
$649,000
The vacant apartments comprise two one-bedroom homes and one larger three-bedroom residence.
Property Size3,093 SF
Price / SF$209.83
Days on Market44
Property Features for 3734 Baxter Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
Wilson Group Real Estate
Listed By:
Jason Todd
(615) 424-3965
Source:
Nashvillehomefinderonline
Added: Sep 27
Changed: Nov 8
Last Checked: Nov 8 at 6:58AM
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 Wilson Group Real Estate
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Investment Insights
Based on property information with market context.
Built in 1950, this 3,093-square-foot triplex contains two one-bedroom, one-bathroom apartments and a three-bedroom, two-bathroom unit. All three residences are vacant. Improvements include mini-split units, a water line replacement to the street, updated cabinetry upstairs and a new HVAC system. A washer and dryer are included in the sale.
The property is in Inglewood, with walking access to Roy’s Tavern, ML Rose and Crieve Hall Bagel Co., and convenient access to downtown Nashville. Its three-unit layout and varied apartment sizes define the property’s current configuration.
The property is in Inglewood, with walking access to Roy’s Tavern, ML Rose and Crieve Hall Bagel Co., and convenient access to downtown Nashville. Its three-unit layout and varied apartment sizes define the property’s current configuration.
Key Highlights
- 3,093‑square‑foot triplex built in 1950
- Two 1‑bedroom, 1‑bathroom units and one 3‑bedroom, 2‑bathroom unit
- All three units are vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,134
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$702,680
$702.7K
Cap Rate 7%
$501,914
$501.9K
Cap Rate 9%
$390,378
$390.4K
Market Conditions
NOI Build-Up for 3,093 SF
Gross rent
$53.8K $17.40/SF
− Vacancy
−$3.6K −$1.17/SF
EGI
$50.2K $16.23/SF
− OpEx
−$15.1K −$4.87/SF
NOI
$35.1K $11.36/SF
Area
Nashville, TN
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 Rate 5%
$702,680
Cap Rate 7%
$501,914
Cap Rate 9%
$390,378
Alternative Uses
Best Use
Multifamily LT 5
$501.9K
$439.2K – $585.6K
NOI $35,134 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$460.6K
$403.0K – $537.3K
NOI $32,240 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$787.4K
$689.0K – $918.6K
NOI $55,117 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
529
Businesses Nearby
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Business Placement
Demographics for 37216, TN
18,191
Population
9,574
Households
1.9
Avg Household Size
36
Median Age
57%
College-Educated
96%
High-School Grad
6.7 sq mi
ZIP Area
2,715
Density / Sq Mi
$82,134
Median Household Income
$54,407
Median Earnings
$1,507
Median Rent
$404,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - The vacant apartments comprise two one-bedroom homes and one larger three-bedroom residence.
Where is this triplex located?
The property is located at 3734 Baxter Ave Nashville, TN.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 3,093‑square‑foot triplex built in 1950; Two 1‑bedroom, 1‑bathroom units and one 3‑bedroom, 2‑bathroom unit; All three units are vacant
