2-Unit Brick
640 Bixler Ave, Madison, TN 37115
For Sale
$350,000
Two separately entered residences include appliances, refreshed interiors, and renovated full bathrooms.
Property Size1,672 SF
Price / SF$209.33
Days on Market49
Property Features for 640 Bixler Ave
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Buildings
Construction
Listing Agency:
Green Property Brokers, Inc.
Listed By:
Kim McDonald · License #299081
(615) 397-3206
Source:
Fykesrealtygroup
Added: Sep 22
Changed: Oct 25
Last Checked: Oct 7 at 5:00PM
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 Green Property Brokers, Inc.
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Investment Insights
Based on property information with market context.
This all-brick duplex contains approximately 1,672 square feet and was built in 1983. Each residence provides two bedrooms, one full bathroom, a private entrance, and included appliances. Both bathrooms have been renovated. The unit at 640 Bixler Ave has new carpet, fresh interior paint, and refinished kitchen cabinetry, while the 642 side includes newer flooring following a recent vacancy.
The property is in Madison, Tennessee, near shopping, dining, major roadways, and downtown Nashville. Its two-unit configuration supports separate occupancy, with each side offering a distinct entrance and residential layout.
The property is in Madison, Tennessee, near shopping, dining, major roadways, and downtown Nashville. Its two-unit configuration supports separate occupancy, with each side offering a distinct entrance and residential layout.
Key Highlights
- Two‑unit all‑brick duplex with approximately 1,672 total square feet
- Each unit includes 2 bedrooms, 1 full bath, a private entrance, and appliances
- Both bathrooms have been renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,163
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$403,260
$403.3K
Cap Rate 7%
$288,043
$288.0K
Cap Rate 9%
$224,033
$224.0K
Market Conditions
NOI Build-Up for 1,672 SF
Gross rent
$30.7K $18.36/SF
− Vacancy
−$1.9K −$1.13/SF
EGI
$28.8K $17.23/SF
− OpEx
−$8.6K −$5.17/SF
NOI
$20.2K $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 Rate 5%
$403,260
Cap Rate 7%
$288,043
Cap Rate 9%
$224,033
Alternative Uses
Best Use
Multifamily LT 5
$288.0K
$252.0K – $336.1K
NOI $20,163 @ 7.0% cap · market cap 5.76%
Second Best
Apartment 5plus
$265.3K
$232.2K – $309.5K
NOI $18,572 @ 7.0% cap · market cap 5.31%
Theoretical Best
Warehouse
$2.02M
$1.77M – $2.36M
NOI $141,695 @ 7.0% cap · market cap 40.48%
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
489
Businesses Nearby
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Business Placement
Demographics for 37115, TN
39,821
Population
19,845
Households
2
Avg Household Size
37
Median Age
23%
College-Educated
82%
High-School Grad
21.5 sq mi
ZIP Area
1,852
Density / Sq Mi
$53,034
Median Household Income
$37,215
Median Earnings
$1,263
Median Rent
$271,100
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Davidson County, TN
Properties on Market for Duplexes in Davidson County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separately entered residences include appliances, refreshed interiors, and renovated full bathrooms.
Where is this duplex located?
The property is located at 640 Bixler Ave Madison, TN.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑unit all‑brick duplex with approximately 1,672 total square feet; Each unit includes 2 bedrooms, 1 full bath, a private entrance, and appliances; Both bathrooms have been renovated
