Renovated Duplex with Separate Living
For Sale
$525,000
604 Debbie Dr, Hermitage, TN 37076
The redesigned layout includes two kitchens, bathrooms, and laundry areas.
Property Size2,312 SF
Days on Market20
Property Features for 604 Debbie Dr
General Information
Standard status
Active
Size
2,312 SF
Property subtype
Residential Income
Zoning
R10 1&2
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,517
Amenities
deck
landscaping
Building Details
Building Size
2,312 SF
Year Built
1978
Buildings
1
Stories
2
Units
2
Listing Agency:
RE/MAX Advantage
(615) 739-0540
Listed By:
Adrian Trawick
(615) 739-0540
Source:
Firstrealty
Added: Jul 24
Changed: Aug 12
Last Checked: Aug 12 at 5:16AM
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 RE/MAX Advantage
Investment Insights
Based on property information with market context.
Built in 1978, this duplex was fully rebuilt from the framing outward with updated systems, finishes, and a reconfigured interior. The property provides two distinct living areas, each with its own kitchen, bathroom, and laundry space. Improvements include a new roof, gutters, windows, plumbing, electrical, water heater, lighting, doors, flooring, insulation, deck, driveway, and landscaping.
Located at 604 Debbie Dr in Hermitage, the property is described as minutes from Nashville International Airport, downtown Nashville, shopping, dining, and major interstates. R10 1&2 zoning supports the property’s duplex classification. The separate configuration also accommodates owner occupancy with an additional income-producing unit or continued use as a two-unit rental property.
Located at 604 Debbie Dr in Hermitage, the property is described as minutes from Nashville International Airport, downtown Nashville, shopping, dining, and major interstates. R10 1&2 zoning supports the property’s duplex classification. The separate configuration also accommodates owner occupancy with an additional income-producing unit or continued use as a two-unit rental property.
Key Highlights
- Fully rebuilt from the framing with new systems and finishes
- Two separate kitchens, bathrooms, and laundry spaces
- New roof, gutters, windows, plumbing, electrical, and water heater
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
$27,880
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
5.31%
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%
$557,600
$557.6K
Cap Rate 7%
$398,286
$398.3K
Cap Rate 9%
$309,778
$309.8K
Market Conditions
NOI Build-Up for 2,312 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
$42.4K $18.36/SF
− Vacancy
−$2.6K −$1.13/SF
EGI
$39.8K $17.23/SF
− OpEx
−$11.9K −$5.17/SF
NOI
$27.9K $12.06/SF
Area
Davidson County, TN
Vacancy
6.17%
Lease Rate
$18.36 /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%
$557,600
Cap Rate 7%
$398,286
Cap Rate 9%
$309,778
Alternative Uses
Best Use
Multifamily LT 5
$398.3K
$348.5K – $464.7K
NOI $27,880 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$366.9K
$321.0K – $428.0K
NOI $25,681 @ 7.0% cap · market cap 4.89%
Theoretical Best
Warehouse
$2.80M
$2.45M – $3.27M
NOI $195,933 @ 7.0% cap · market cap 37.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
474
Businesses Nearby
Explore this area
Business Placement
Demographics for 37076, TN
39,326
Population
19,235
Households
2
Avg Household Size
37
Median Age
40%
College-Educated
95%
High-School Grad
27.8 sq mi
ZIP Area
1,415
Density / Sq Mi
$74,555
Median Household Income
$50,286
Median Earnings
$1,438
Median Rent
$348,300
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 - The redesigned layout includes two kitchens, bathrooms, and laundry areas.
Where is this duplex located?
The property is located at 604 Debbie Dr Hermitage, TN.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Fully rebuilt from the framing with new systems and finishes; Two separate kitchens, bathrooms, and laundry spaces; New roof, gutters, windows, plumbing, electrical, and water heater
