Residential Income Property with
For Sale
$489,900
99 Silverstone Ln, Hermitage, TN 37076
The two-level condo includes a main-floor primary suite, an additional bedroom, and a separate office or hobby room.
Property Size2,252 SF
Days on Market39
Property Features for 99 Silverstone Ln
General Information
Standard status
Active
Size
2,252 SF
Total Parking Spaces
2
Property subtype
Zero Lot Line
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,851
Amenities
community walking trail
Building Details
Building Size
2,252 SF
Year Built
2016
Listing Agency:
Benchmark Realty, LLC
Listed By:
John Davis Hitch · License #334984
(615) 812-8226
Source:
Chordrealestate
Added: Sep 20
Changed: Oct 26
Last Checked: Oct 26 at 11:46PM
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 Benchmark Realty, LLC
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Investment Insights
Based on property information with market context.
Built in 2016, this garden condo has an open main living area with hardwood floors, a great room, and a separate dining room. The kitchen features granite counters, stainless steel appliances, a center island, pantry, and eat-in area. The main level also contains a primary suite with a walk-in closet and full bath, a second bedroom and full bath, a flexible office or hobby room, laundry room, and sunroom.
Upstairs, a third bedroom with a walk-in closet and full bath can also function as a bonus room. Three attic storage areas and a two-car garage with Guardian flooring provide additional utility. The home also has newer carpet and interior paint. Silverstone is a 55+ community with a walking trail along a creek.
Upstairs, a third bedroom with a walk-in closet and full bath can also function as a bonus room. Three attic storage areas and a two-car garage with Guardian flooring provide additional utility. The home also has newer carpet and interior paint. Silverstone is a 55+ community with a walking trail along a creek.
Key Highlights
- 2016 garden condo in a 55+ community
- Three bedrooms and three full baths across two levels
- Kitchen with granite counters, stainless steel appliances, center island, and pantry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,015
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,300
$500.3K
Cap Rate 7%
$357,357
$357.4K
Cap Rate 9%
$277,944
$277.9K
Market Conditions
NOI Build-Up for 2,252 SF
Gross rent
$48.6K $21.60/SF
− Vacancy
−$3.2K −$1.40/SF
EGI
$45.5K $20.20/SF
− OpEx
−$20.5K −$9.09/SF
NOI
$25.0K $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 Rate 5%
$500,300
Cap Rate 7%
$357,357
Cap Rate 9%
$277,944
Alternative Uses
Best Use
Apartment 5plus
$357.4K
$312.7K – $416.9K
NOI $25,015 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.73M
$2.39M – $3.18M
NOI $190,848 @ 7.0% cap · market cap 38.96%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
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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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Frequently Asked Questions
What type of property is this?
Residential income property - The two-level condo includes a main-floor primary suite, an additional bedroom, and a separate office or hobby room.
Where is this residential income property located?
The property is located at 99 Silverstone Ln Hermitage, TN.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: 2016 garden condo in a 55+ community; Three bedrooms and three full baths across two levels; Kitchen with granite counters, stainless steel appliances, center island, and pantry
