Two-Unit Residential
4207 Nevada Ave, Nashville, TN 37209
For Sale
$764,900
Pending
Two separately entered living areas share a laundry room and have individual kitchens.
Property Size1,924 SF
Days on Market14
Property Features for 4207 Nevada Ave
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
Wood,Tile
Yes
Share,Electric Dryer Hookup,Washer Hookup
Assessor
1924
Square Feet
Appliances,Furniture
Public
4
45 X 150
No
Alley Access,Asphalt,Driveway
Building Details
Building Size
Year Built
Stories
Listing Agency:
(615) 235-9412
Listed By:
Christi Richey
Source:
Cadencerealtytn
Added: Oct 30
Changed: Nov 12
Last Checked: Nov 11 at 2:54PM
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 Christi Richey
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Investment Insights
Based on property information with market context.
This 1,924-SF residential property has a front 3-bedroom, 2-bathroom unit and a rear 1-bedroom, 1-bathroom suite. The rear suite, added in 2004, is separated from the front by a shared laundry room; each area has its own exterior entrance and a locking door to the laundry space. The layout includes two kitchens, two living rooms, two decks, two driveways, and a detached screened porch. Renovated kitchens and baths, hardwood floors, updated lighting, and a 2022 HVAC replacement are among the improvements. Appliances, including washers and dryers, remain. The home was built in 1940 and is zoned Rs7.5.
The property has alley access and sits on a 45 x 150 lot in Sylvan Park. McCabe Park, Richland Creek Greenway, retail along Murphy and Charlotte, medical centers, downtown, and BNA are cited nearby. Sylvan Park Elementary School is also noted in the property information.
The property has alley access and sits on a 45 x 150 lot in Sylvan Park. McCabe Park, Richland Creek Greenway, retail along Murphy and Charlotte, medical centers, downtown, and BNA are cited nearby. Sylvan Park Elementary School is also noted in the property information.
Key Highlights
- Front unit has 3 bedrooms and 2 bathrooms; rear suite has 1 bedroom and 1 bathroom
- 1,924 SF property with a rear suite added in 2004
- Two kitchens, two living rooms, two decks, and two driveways
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,855
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$437,100
$437.1K
Cap Rate 7%
$312,214
$312.2K
Cap Rate 9%
$242,833
$242.8K
Market Conditions
NOI Build-Up for 1,924 SF
Gross rent
$33.5K $17.40/SF
− Vacancy
−$2.3K −$1.17/SF
EGI
$31.2K $16.23/SF
− OpEx
−$9.4K −$4.87/SF
NOI
$21.9K $11.36/SF
Area
ZIP 37209
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%
$437,100
Cap Rate 7%
$312,214
Cap Rate 9%
$242,833
Alternative Uses
Best Use
Multifamily LT 5
$312.2K
$273.2K – $364.3K
NOI $21,855 @ 7.0% cap · market cap 2.86%
Second Best
Apartment 5plus
$286.5K
$250.7K – $334.3K
NOI $20,055 @ 7.0% cap · market cap 2.62%
Theoretical Best
Office A
$496.3K
$434.3K – $579.1K
NOI $34,743 @ 7.0% cap · market cap 4.54%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
809
Businesses Nearby
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Business Placement
Demographics for 37209, TN
40,498
Population
21,421
Households
1.9
Avg Household Size
32
Median Age
57%
College-Educated
92%
High-School Grad
33.6 sq mi
ZIP Area
1,205
Density / Sq Mi
$75,810
Median Household Income
$48,965
Median Earnings
$1,580
Median Rent
$495,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Nashville, TN
Properties on Market for Duplexes in Nashville
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separately entered living areas share a laundry room and have individual kitchens.
Where is this duplex located?
The property is located at 4207 Nevada Ave Nashville, TN.
What is the asking price?
The asking price for this property is $764,900.
What are key features of this property?
This property features: Front unit has 3 bedrooms and 2 bathrooms; rear suite has 1 bedroom and 1 bathroom; 1,924 SF property with a rear suite added in 2004; Two kitchens, two living rooms, two decks, and two driveways
