Remodeled
For Sale
$349,900
706 Linden Green Dr, Hermitage, TN 37076
Two-unit residential property offered as-is with inspections welcome.
Property Size1,680 SF
Price / SF$208.27
Days on Market105
Property Features for 706 Linden Green Dr
General Information
Standard status
Active
Size
1,680 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$3,415
Listing Agency:
Southwestern Real Estate
(615) 364-3525
Listed By:
Stacey Long
(615) 364-3525
Source:
Exprealty
Added: May 19
Changed: Aug 30
Last Checked: Aug 30 at 10:41PM
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 Southwestern Real Estate
Investment Insights
Based on property information with market context.
This duplex contains 1,680 square feet and has been completely remodeled. The property is being offered in as-is condition, while inspections are welcome for prospective purchasers.
Located at 706 Linden Green Dr in Hermitage, Tennessee, the property provides a two-unit residential configuration for an owner or investor seeking a remodeled income property.
Located at 706 Linden Green Dr in Hermitage, Tennessee, the property provides a two-unit residential configuration for an owner or investor seeking a remodeled income property.
Key Highlights
- 1,680‑square‑foot duplex
- Completely remodeled interior
- Two‑unit residential configuration
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
$20,259
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
5.79%
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%
$405,180
$405.2K
Cap Rate 7%
$289,414
$289.4K
Cap Rate 9%
$225,100
$225.1K
Market Conditions
NOI Build-Up for 1,680 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
$30.8K $18.36/SF
− Vacancy
−$1.9K −$1.13/SF
EGI
$28.9K $17.23/SF
− OpEx
−$8.7K −$5.17/SF
NOI
$20.3K $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%
$405,180
Cap Rate 7%
$289,414
Cap Rate 9%
$225,100
Alternative Uses
Best Use
Multifamily LT 5
$289.4K
$253.2K – $337.7K
NOI $20,259 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$266.6K
$233.3K – $311.0K
NOI $18,661 @ 7.0% cap · market cap 5.33%
Theoretical Best
Warehouse
$2.03M
$1.78M – $2.37M
NOI $142,373 @ 7.0% cap · market cap 40.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
104
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 - Two-unit residential property offered as-is with inspections welcome.
Where is this duplex located?
The property is located at 706 Linden Green Dr Hermitage, TN.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 1,680‑square‑foot duplex; Completely remodeled interior; Two‑unit residential configuration
