Three-Level Short-Term Rental
New
For Sale
$679,900
910 Due West Ave, Madison, TN 37115
Three-level property with an operating furnished rental, separate entrances, and additional space for flexible occupancy arrangements.
Property Size3,949 SF
Price / SF$172.17
Days on Market4
Property Features for 910 Due West Ave
General Information
Standard status
Active
Size
3,949 SF
Property subtype
Multi-Family
Additional Details
Business Included
Yes
Amenities
private entrance
full kitchen
cedar closets
updated kitchen with white cabinetry, stainless steel appliances, island, and built-in corner unit
mature trees
covered outdoor entertaining space
Building Details
Year Built
1949
Buildings
1
Stories
3
Listing Agency:
The Gomes Agency
Listed By:
Jacob Gomes · License #RTC58846
Source:
Amandahowardrealestate
Added: Sep 16
Last Checked: Sep 18 at 4:28AM
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 The Gomes Agency
Investment Insights
Based on property information with market context.
Built in 1949, this three-level property is configured for distinct living or rental areas. The second level operates as an active short-term rental and includes a private entrance, full kitchen, and turnkey furnishings. The main level has a separate entrance, three bedrooms including the primary bedroom, cedar closets, and an updated kitchen with white cabinetry, stainless steel appliances, an island, and a built-in corner unit. A walk-out basement adds another independently accessible area for a guest suite, studio, or rental setup.
The property includes front and back yards, mature trees, covered outdoor entertaining space, and ample parking. It is positioned 10 minutes from East Nashville and offers access to Downtown.
The property includes front and back yards, mature trees, covered outdoor entertaining space, and ample parking. It is positioned 10 minutes from East Nashville and offers access to Downtown.
Key Highlights
- Active short‑term rental on the second level
- Private entrances serve the second and main levels
- Main level includes three bedrooms and an updated kitchen
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
$43,865
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
6.45%
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%
$877,300
$877.3K
Cap Rate 7%
$626,643
$626.6K
Cap Rate 9%
$487,389
$487.4K
Market Conditions
NOI Build-Up for 3,949 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
$85.3K $21.60/SF
− Vacancy
−$5.5K −$1.40/SF
EGI
$79.8K $20.20/SF
− OpEx
−$35.9K −$9.09/SF
NOI
$43.9K $11.11/SF
Area
Davidson County, TN
Vacancy
6.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
45.00%
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%
$877,300
Cap Rate 7%
$626,643
Cap Rate 9%
$487,389
Alternative Uses
Best Use
Apartment 5plus
$626.6K
$548.3K – $731.1K
NOI $43,865 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.78M
$4.18M – $5.58M
NOI $334,662 @ 7.0% cap · market cap 49.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
196
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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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?
Short term rental property - Three-level property with an operating furnished rental, separate entrances, and additional space for flexible occupancy arrangements.
Where is this short term rental property located?
The property is located at 910 Due West Ave Madison, TN.
What is the asking price?
The asking price for this property is $679,900.
What are key features of this property?
This property features: Active short‑term rental on the second level; Private entrances serve the second and main levels; Main level includes three bedrooms and an updated kitchen
