3210 Albion St · Nashville-Davidson metropolitan government (balance), TN 37209

$449,999

5 bd · 2.5 ba · 2,362 sqft · Condo public records · 189 Days on market

Built 2009

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +14.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• 1% rule +3.9/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Amazing Investment Opportunity: TWO TOWNHOMES ACROSS FROM TSU! Investors, take note! This is a rare chance to acquire not one, but TWO townhomes being sold together (1000 33rd Ave N). Located directly across the street from TSU and within minutes of other colleges, hospitals, and downtown, this property is perfectly positioned for maximizing rental income. Each townhome offers 5 spacious bedrooms, 2.5 bathrooms and a laundry room, providing a total of 10 bedrooms, 4 full bathrooms, 2 half bathrooms, and 2 laundry rooms. Whether you're looking to rent to students, medical professionals, or large families, the potential is endless. The exterior has been recently renovated within the last two

Key facts

• Two townhomes
• 6 parking spots
• Built 2009

Tags

• INVESTMENT OPPORTUNITY
• TWO TOWNHOMES
• RECENTLY RENOVATED EXTERIOR

Property features AI

Exterior

• Parking: On-street parking and parking lot with a total of 6 parking spaces (6 open spaces, no covered spaces)
• Utilities: Public water; Public sewer; Electricity available
• Home design: Residential attached property; Single-story
• Construction: Fiber cement construction; Existing structure
• Exterior features: Small lot (0.02 acres)

Interior

• Kitchen: Electric oven and range; Dishwasher; Microwave; Refrigerator; Disposal
• Bedrooms: 5 bedrooms
• Flooring: Carpet; Wood
• Bathrooms: 2 full bathrooms and 1 half bathroom
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Electric oven, Electric range, Dishwasher, Disposal, Microwave, Refrigerator; Washer and dryer included; Carpet and wood flooring
• Laundry & utility: Washer and dryer

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath condo listed at $450k.

Deal economics

• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $400k (11.1% below list).
• Recommended offer: $396k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.6% vs local median 2.9% in Nashville-Davidson metropolitan government (balance) — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Davidson County (urban): math 12% / reading 19% proficiency, ranked #126 of 139 in TN (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Pearl-Cohn High (math 2% / reading 12%, grade F, #294 of 332 statewide, top 91%, 604 students, 0% FRL) — zoned schools average 0% FRL vs 66% district-wide (66 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-0.6%/yr); 554 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,873 units permitted in Davidson County in 2024 (4,138 in 5+ unit buildings).
• At $3,999/mo this rent would consume 59% of the median local household income ($81k/yr) (locally 2402% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Davidson County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 189 days — a 12% lower offer ($396k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $160k; list at $450k implies a 181% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $395,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.89% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.04%
• DSCR: 1.05
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.0%
• Equity multiple: 0.38×
• Total profit: $-77,667
• Equity at exit: $67,096

10-year hold

• IRR: -17.3%
• Equity multiple: 0.18×
• Total profit: $-103,883
• Equity at exit: $38,908

Cash invested: $126,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Tennessee: 87 Strongly Landlord-Friendly · R+13
• County: — inherits STATE
• City: — inherits STATE

14-day notice (URLTA); generally landlord-favorable; Nashville court paced moderate.

Methodology + full state rankings →

ZIP-level market 37209

• Rents YoY: -0.6%
• Active inventory: 554
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $3,999 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$503 /mo · $6,038/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$840
• Net cashflow: $109

Break-even live

Break-even rent $3,861

Max offer price $449,999

Occupancy floor 92%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2826 Clifton Ave Nashville, TN	4.0	3.5	2256	$3,500	$1.55	23d	1	0.40mi
2726 Scovel St Nashville, TN	4.0	2.5	2400	$4,500	$1.88	23d	1	0.50mi
525 31st Ave N Nashville, TN	4.0	3.5	2800	$5,000	$1.79	23d	1	0.53mi
2601 Batavia St Nashville, TN	4.0	3.0	1944	$2,950	$1.52	23d	1	0.55mi
515 31st Ave N Nashville, TN	4.0	3.0	2725	$5,000	$1.83	21d	1	0.58mi
2704 Clifton Ave #402 Nashville, TN	4.0	3.5	1740	$6,995	$4.02	23d	1	0.59mi
3304 Trevor St Nashville, TN	4.0	4.0	3233	$5,500	$1.70	12d	1	0.60mi
3009 Delaware Ave Nashville, TN	4.0	3.5	2038	$4,100	$2.01	2d	1	0.61mi
2807 Delaware Ave Unit 1051682P Nashville, TN	4.0	4.0	2701	$7,514	$2.78	12d	1	0.64mi
409B 35th Ave N Nashville, TN	4.0	3.5	2909	$4,750	$1.63	23d	1	0.64mi
4021 Indiana Ave Unit 1312371P Nashville, TN	4.0	3.0	2594	$9,337	$3.60	23d	1	0.68mi
2420 Albion St Nashville, TN	4.0	3.0	2985	$3,595	$1.20	23d	1	0.68mi
1526 23rd Ave N Unit b Nashville, TN	4.0	3.0	3000	$3,600	$1.20	23d	1	1.07mi
1613 23rd Ave N Nashville, TN	4.0	3.0	2702	$3,000	$1.11	4d	1	1.11mi
1612 23rd Ave N Nashville, TN	4.0	3.0	1906	$2,623	$1.38	23d	1	1.12mi
1605 Dr Db Todd Jr Blvd Nashville, TN	5.0	2.5	1667	$2,425	$1.45	23d	1	1.22mi
3118 Long Blvd #5 Nashville, TN	4.0	2.5	2393	$5,000	$2.09	23d	1	1.23mi
1732 22nd Ave N Nashville, TN	4.0	3.5	2555	$3,500	$1.37	23d	1	1.30mi
5011 Illinois Ave Nashville, TN	4.0	4.5	2200	$5,400	$2.45	21d	1	1.31mi
5204A Kentucky Ave Nashville, TN	4.0	3.0	2172	$4,500	$2.07	23d	1	1.40mi
1600A Heiman St Nashville, TN	4.0	6.0	2680	$3,150	$1.18	3d	1	1.41mi
1600 Heiman St Unit A Nashville, TN	4.0	3.5	2680	$3,150	$1.18	3d	1	1.41mi
127 37th Ave N Nashville, TN	4.0	2.0	1586	$3,300	$2.08	23d	1	1.42mi
1608 16th Ave N Nashville, TN	4.0	3.0	1811	$3,295	$1.82	17d	1	1.44mi
5301 Centennial Blvd Unit B Nashville, TN	4.0	4.0	2039	$4,200	$2.06	14d	1	1.48mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2025-11-19
   listed $449,999 Active
2. 2025-01-23
   historical
3. 2024-09-10
   listed $550,000 Active
4. 2010-10-26
   soldstatus $160,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TN · Resets to sale price

• Current annual tax: $6,038 · $503/mo
• Projected year-2 tax: $6,038 · $503/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,994
• − Mortgage interest: −$25,207
• − Property taxes: −$6,038
• − Insurance: −$2,250
• − Repairs & maintenance: −$3,840
• − Management: −$3,840
• − Depreciation: −$13,091
• Taxable loss: −$6,271
• Est. tax savings @ 24.0%: +$1,505
• After-tax cash flow: $2,814/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Davidson County
• NCES district ID: 4703180
• Math proficiency: 12% ▼ -17.00%
• Reading proficiency: 19% ▼ -7.00%
• Median HH income: $48,667
• Composite: 14.03/100
• National rank: #9472
• State rank: #126 of 139 in TN

Livability — Nashville-Davidson metropolitan government (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Nashville-Davidson metropolitan government (balance), TN
• County: Davidson County · 680,067 people
• City population: 677,595
• Metro: Nashville-Davidson--Murfreesboro--Franklin, TN
• Population (ZIP): 37,817
• Household income: $81,423
• Rent vs Own: 53.1% rent · 46.9% own
• Severe rent burden: 2402.0

Population outlook (Davidson County) Hauer SSP2

• Today (2025): 808,568 people
• By 2030: 874,489 · +8.2%
• By 2040: 1,009,046 · +24.8%
• By 2050: 1,147,294 · +41.9%
• By 2075: 1,475,439 · +82.5%
• By 2100: 1,714,101 · +112.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 18% Hispanic / Latino 8% Two or more races 6% Asian 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 3%
• Foreign-born: 10% · Canada, Vietnam, China
• Languages at home: 88% English-only · Spanish 7% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Davidson

• 2024 margin: Strong D (+27.4) · D 62.7% · R 35.3% · Other 2.0%
• 2008→2024 swing: +6.5pp toward D · 2008: 21.0pp · 2024: 27.4pp
• All cycles: 2024: D+27.4 2020: D+32.1 2016: D+26.0 2012: D+18.7 2008: D+21.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -580.87%
• Current HPI: 372.4026
• Rent YoY: ▼ -0.58%
• Metro: Nashville-Davidson--Murfreesboro--Franklin, TN
• State GDP YoY: ▲ 2.78%
• F500 in state: 22

Industry mix (Fortune 500 HQ in TN)

Industry	F500 HQs	Revenue
▸Healthcare	3	$91B
▸Retail	3	$72B
▸Transportation / Logistics	1	$88B
▸Paper / Packaging	1	$19B
▸Insurance	1	$13B
▸Energy	1	$12B

Price history

+181.2% since first listed

4 events — show timeline

• 2025-11-19 Listed $449,999 REALTRACS as Distributed by MLS Grid
• 2025-01-23 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2024-09-10 Listed $550,000 REALTRACS as Distributed by MLS Grid
• 2010-10-26 Sold (Public Records) $160,000 Public Records

Property tax history

+9.2%/yr

Latest (2025): $6,038 · +14.8% YoY. Source: county tax records.