3-Bedroom Duplex with
New
For Sale
$274,900
811 Netherlands Dr, Hermitage, TN 37076
Renovated kitchen, private patio, and spacious yard support comfortable residential use in a two-unit property.
Property Size1,135 SF
Price / SF$242.20
Days on Market5
Property Features for 811 Netherlands Dr
General Information
Standard status
Active
Size
1,135 SF
Property subtype
Zero Lot Line
Additional Details
Multifamily Units
2
Amenities
fireplace
newly renovated kitchen
granite countertops
stainless steel appliances
new LVP flooring
tile bathrooms
sliding glass door
cement patio
large back yard
extra large driveway
washer/dryer included
Building Details
Year Built
1986
Listing Agency:
Realty One Group Music City
Listed By:
Cathy Lemmon 6155890777 · License #352577
(615) 589-0777
Source:
Nashvillehomefinderonline
Added: Sep 10
Changed: Sep 13
Last Checked: Sep 13 at 3:01PM
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 Realty One Group Music City
Investment Insights
Based on property information with market context.
This 3-bedroom, 2-bath duplex home offers 1,135 square feet of living space and was built in 1986. Interior features include a living-room fireplace, a renovated kitchen with granite countertops and stainless steel appliances, LVP flooring, and tiled bathrooms. A 1-year-new Whirlpool washer and dryer are included in a dedicated enclosed closet.
The primary bedroom opens through a sliding glass door to a concrete patio overlooking the large backyard. The extra-wide driveway accommodates two vehicles parked in tandem, with additional street parking also available. The property is near Tulip Grove Elementary and DuPont Hadley Middle Schools, approximately 5 minutes from Tri-Star Summit hospital and Super Walmart, 10 minutes from the airport, and 15 minutes from downtown Nashville. Kroger, Publix, Ross, Burlington Coat Factory, restaurants, and other shopping are also about 5 minutes away.
The primary bedroom opens through a sliding glass door to a concrete patio overlooking the large backyard. The extra-wide driveway accommodates two vehicles parked in tandem, with additional street parking also available. The property is near Tulip Grove Elementary and DuPont Hadley Middle Schools, approximately 5 minutes from Tri-Star Summit hospital and Super Walmart, 10 minutes from the airport, and 15 minutes from downtown Nashville. Kroger, Publix, Ross, Burlington Coat Factory, restaurants, and other shopping are also about 5 minutes away.
Key Highlights
- 3‑bedroom, 2‑bath duplex with 1,135 square feet
- Renovated kitchen with granite countertops and stainless steel appliances
- 1‑year‑new Whirlpool washer and dryer included
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
$13,687
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
4.98%
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%
$273,740
$273.7K
Cap Rate 7%
$195,529
$195.5K
Cap Rate 9%
$152,078
$152.1K
Market Conditions
NOI Build-Up for 1,135 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
$20.8K $18.36/SF
− Vacancy
−$1.3K −$1.13/SF
EGI
$19.6K $17.23/SF
− OpEx
−$5.9K −$5.17/SF
NOI
$13.7K $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%
$273,740
Cap Rate 7%
$195,529
Cap Rate 9%
$152,078
Alternative Uses
Best Use
Multifamily LT 5
$195.5K
$171.1K – $228.1K
NOI $13,687 @ 7.0% cap · market cap 4.98%
Second Best
Apartment 5plus
$180.1K
$157.6K – $210.1K
NOI $12,607 @ 7.0% cap · market cap 4.59%
Theoretical Best
Warehouse
$1.37M
$1.20M – $1.60M
NOI $96,187 @ 7.0% cap · market cap 34.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
86
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Renovated kitchen, private patio, and spacious yard support comfortable residential use in a two-unit property.
Where is this duplex located?
The property is located at 811 Netherlands Dr Hermitage, TN.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: 3‑bedroom, 2‑bath duplex with 1,135 square feet; Renovated kitchen with granite countertops and stainless steel appliances; 1‑year‑new Whirlpool washer and dryer included
