Renovated
For Sale
$540,000
416 Lutie Dr, Nashville, TN 37210
Two updated income-producing units offer a straightforward residential investment configuration.
Property Size2,652 SF
Days on Market13
Property Features for 416 Lutie Dr
General Information
Standard status
Active
Size
2,652 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
RS10
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,020
Building Details
Building Size
2,652 SF
Year Built
1979
Stories
1
Units
2
Listing Agency:
Century 21 Capital Properties
(615) 881-0879
Listed By:
Sophia Seboa
(615) 881-0879
Source:
Firstrealty
Added: Jul 31
Changed: Aug 12
Last Checked: Aug 12 at 4:53AM
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 Century 21 Capital Properties
Investment Insights
Based on property information with market context.
This duplex contains two income-producing residential units and has undergone renovation with updates intended to reduce ongoing maintenance needs. The property was built in 1979 and is designated RS10 zoning.
Located at 416 Lutie Dr in Nashville, the property is minutes from Downtown Nashville and the Wedgewood-Houston district. The surrounding area provides access to restaurants, entertainment, shopping, and major employers, giving residents convenient reach to established city destinations and employment centers.
Located at 416 Lutie Dr in Nashville, the property is minutes from Downtown Nashville and the Wedgewood-Houston district. The surrounding area provides access to restaurants, entertainment, shopping, and major employers, giving residents convenient reach to established city destinations and employment centers.
Key Highlights
- Two income‑producing residential units
- Renovated duplex with updated interiors
- RS10 zoning designation
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
$30,124
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
5.58%
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%
$602,480
$602.5K
Cap Rate 7%
$430,343
$430.3K
Cap Rate 9%
$334,711
$334.7K
Market Conditions
NOI Build-Up for 2,652 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
$46.1K $17.40/SF
− Vacancy
−$3.1K −$1.17/SF
EGI
$43.0K $16.23/SF
− OpEx
−$12.9K −$4.87/SF
NOI
$30.1K $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 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%
$602,480
Cap Rate 7%
$430,343
Cap Rate 9%
$334,711
Alternative Uses
Best Use
Multifamily LT 5
$430.3K
$376.6K – $502.1K
NOI $30,124 @ 7.0% cap · market cap 5.58%
Second Best
Apartment 5plus
$394.9K
$345.5K – $460.7K
NOI $27,643 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$675.1K
$590.7K – $787.7K
NOI $47,259 @ 7.0% cap · market cap 8.75%
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
604
Businesses Nearby
Explore this area
Business Placement
Demographics for 37210, TN
17,134
Population
9,201
Households
1.9
Avg Household Size
32
Median Age
32%
College-Educated
85%
High-School Grad
9.3 sq mi
ZIP Area
1,842
Density / Sq Mi
$43,343
Median Household Income
$36,815
Median Earnings
$1,250
Median Rent
$334,800
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 updated income-producing units offer a straightforward residential investment configuration.
Where is this duplex located?
The property is located at 416 Lutie Dr Nashville, TN.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Two income‑producing residential units; Renovated duplex with updated interiors; RS10 zoning designation
