Two-Unit Duplex with Fenced
616 Eastboro Dr, Nashville, TN 37209
For Sale
$450,000
Two-bedroom units include a vacant front residence and a rear unit leased to a long-term tenant.
Property Size1,500 SF
Price / SF$300
Days on Market81
Property Features for 616 Eastboro Dr
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Listing Agency:
Wilson Group Real Estate
Listed By:
Alicia Griffith · License TN #317326
(615) 642-9174
Source:
Midtnhomefinders
Added: Aug 24
Changed: Nov 7
Last Checked: Nov 10 at 12:51PM
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 1980, this 1,500-square-foot duplex contains two separate residences, each with two bedrooms and one bathroom. The front unit is vacant, while the rear unit is occupied by a tenant who has remained in place for many years. The arrangement provides an owner-occupant option alongside an existing tenancy.
Outdoor features include a small fenced area at the front unit, with room to enclose the front yard, and a larger fenced yard serving the rear unit. The rear residence also includes a covered patio. The property is located at 616 Eastboro Dr in Nashville’s Charlotte Park area, directly across from the entrance to the park.
Outdoor features include a small fenced area at the front unit, with room to enclose the front yard, and a larger fenced yard serving the rear unit. The rear residence also includes a covered patio. The property is located at 616 Eastboro Dr in Nashville’s Charlotte Park area, directly across from the entrance to the park.
Key Highlights
- 1,500‑square‑foot duplex built in 1980
- Two residences, each with 2 bedrooms and 1 bathroom
- Front unit is vacant; rear unit has a long‑term tenant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,039
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$340,780
$340.8K
Cap Rate 7%
$243,414
$243.4K
Cap Rate 9%
$189,322
$189.3K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$26.1K $17.40/SF
− Vacancy
−$1.8K −$1.17/SF
EGI
$24.3K $16.23/SF
− OpEx
−$7.3K −$4.87/SF
NOI
$17.0K $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%
$340,780
Cap Rate 7%
$243,414
Cap Rate 9%
$189,322
Alternative Uses
Best Use
Multifamily LT 5
$243.4K
$213.0K – $284.0K
NOI $17,039 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$223.4K
$195.4K – $260.6K
NOI $15,635 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$386.9K
$338.6K – $451.4K
NOI $27,086 @ 7.0% cap · market cap 6.02%
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
469
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-bedroom units include a vacant front residence and a rear unit leased to a long-term tenant.
Where is this duplex located?
The property is located at 616 Eastboro Dr Nashville, TN.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,500‑square‑foot duplex built in 1980; Two residences, each with 2 bedrooms and 1 bathroom; Front unit is vacant; rear unit has a long‑term tenant
