Two-Unit Duplex with
For Sale
$420,000
531 Eastboro Dr, Nashville, TN 37209
One residence is leased while the second is vacant and available for occupancy or tenant placement.
Property Size1,189 SF
Price / SF$353.24
Days on Market106
Property Features for 531 Eastboro Dr
General Information
Standard status
Active
Size
1,189 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$2,893
Listing Agency:
NASH Real Estate Group LLC
(615) 592-1042
Listed By:
Shanelle Burton
(615) 592-1042
Source:
Exprealty
Added: May 16
Changed: Aug 21
Last Checked: Aug 29 at 11:53AM
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 NASH Real Estate Group LLC
Investment Insights
Based on property information with market context.
This two-unit duplex contains 1,189 square feet, with each residence arranged as a two-bedroom, one-full-bath unit. The front unit, identified as Unit A, is currently occupied, while the rear Unit B is vacant and available to show. Both residences have access to a spacious lot with substantial yard area.
Located at 531 Eastboro Dr in Nashville’s Nations neighborhood, the property offers a straightforward two-unit configuration for an owner-occupant or rental property buyer. The existing occupancy in the front unit and vacancy in the rear unit provide distinct leasing and occupancy conditions within the same building.
Located at 531 Eastboro Dr in Nashville’s Nations neighborhood, the property offers a straightforward two-unit configuration for an owner-occupant or rental property buyer. The existing occupancy in the front unit and vacancy in the rear unit provide distinct leasing and occupancy conditions within the same building.
Key Highlights
- Two‑unit duplex with 1,189 square feet
- Each unit includes 2 bedrooms and 1 full bath
- Front Unit A is currently rented
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
$13,506
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
3.22%
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%
$270,120
$270.1K
Cap Rate 7%
$192,943
$192.9K
Cap Rate 9%
$150,067
$150.1K
Market Conditions
NOI Build-Up for 1,189 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
$20.7K $17.40/SF
− Vacancy
−$1.4K −$1.17/SF
EGI
$19.3K $16.23/SF
− OpEx
−$5.8K −$4.87/SF
NOI
$13.5K $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 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%
$270,120
Cap Rate 7%
$192,943
Cap Rate 9%
$150,067
Alternative Uses
Best Use
Multifamily LT 5
$192.9K
$168.8K – $225.1K
NOI $13,506 @ 7.0% cap · market cap 3.22%
Second Best
Apartment 5plus
$177.0K
$154.9K – $206.6K
NOI $12,393 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$306.7K
$268.4K – $357.8K
NOI $21,470 @ 7.0% cap · market cap 5.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
625
Businesses Nearby
Explore this area
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
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 - One residence is leased while the second is vacant and available for occupancy or tenant placement.
Where is this duplex located?
The property is located at 531 Eastboro Dr Nashville, TN.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,189 square feet; Each unit includes 2 bedrooms and 1 full bath; Front Unit A is currently rented
