1010 Carolyn Ave · Nashville-Davidson metropolitan government (balance), TN 37216

$875,000

2 bd · 2.0 ba · 2,034 sqft · MultiFamily public records · 29 Days on market

Built 1950 10,200 sqft lot

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Why this score? — see what drove the C+ 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 +28.4/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

First time on the market in over 30 years, this family-owned 4-unit complex is a rare investment opportunity in the highly desirable East Hill neighborhood. The property has been well maintained, with long-term ownership and strong potential for value-add improvements. Current rental rates are below market, offering a great opportunity for increased income with updates and adjustments. Whether you're looking to expand your portfolio or secure a multi-family asset in a prime location, this property presents significant upside potential. Unit A & B are the same floor plan with their own washer & dryers. Units C & D have a shared laundry area. Landlord pays all utilities on a

Key facts

• 0.23 acre lot
• Built 1950
• Listed 28 days

Property features AI

Finance

• Financial info: Gross income reported as $5,805; Net operating income reported as $5,805; Owner pays electricity and gas; Tenants pay cable TV, electricity, and gas

Exterior

• Parking: No covered parking noted; No parking total reported
• Utilities: Public water; Public sewer; Water available
• Home design: Residential income property; Attached property; Quadruplex; Two levels
• Construction: Brick construction; Shingle roof
• Exterior features: Has a view; Lot dimensions approximately 60 x 170

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Four 1-bedroom units (each unit is a 1 bedroom)
• Flooring: Tile
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Central heating; Central air
• Interior features: Tile flooring; Has central heating; Central air conditioning
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $875k.

Deal economics

• At list price, monthly cash flow is $3k ($34k/yr) — positive. Per door: $708/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $875k).
• Recommended offer: $862k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.2% 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 C — 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: Hattie Cotton Elementary (math 2% / reading 2%, grade F, #926 of 952 statewide, top 100%, 249 students, 0% FRL); Maplewood High (math 2% / reading 12%, grade F, #294 of 332 statewide, top 91%, 691 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 rising (+2.4%/yr); 226 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $26k 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.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $245k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($862k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $34k; list at $875k implies a 2474% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $861,875 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.19% ✓
• Cap rate: 10.18%
• Cash-on-cash: 13.87%
• DSCR: 1.62
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.38% rent growth · sell at horizon

5-year hold

• IRR: 3.4%
• Equity multiple: 1.13×
• Total profit: $31,901
• Equity at exit: $130,465

10-year hold

• IRR: 12.4%
• Equity multiple: 1.95×
• Total profit: $232,914
• Equity at exit: $75,654

Cash invested: $245,000 (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 37216

• Home prices YoY: -30.6%
• Rents YoY: 2.4%
• Active inventory: 226
• Price-to-rent: 28.1×

Monthly cashflow live

• Estimated rent: $10,382 medium
• Mortgage (P&I): −$4,589
• Tax from tax record: −$416 /mo · $4,997/yr
• Insurance: −$365
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,180
• Net cashflow: $2,832

Break-even live

Break-even rent $6,797

Max offer price $875,000

Occupancy floor 68%

Sensitivity live

Price	-10% $3,328	-5% $3,080	+0% $2,832	+5% $2,585	+10% $2,337
Rent	-10% $2,012	-5% $2,422	+0% $2,832	+5% $3,242	+10% $3,652
Rate	-1.0pp $3,273	-0.5pp $3,055	base $2,832	+0.5pp $2,605	+1.0pp $2,375

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$10,380
Total (4 units)			$10,382

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: $218,750
• Closing costs: $26,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1002 Fairwin Ave Nashville, TN	3.0	2.0	1437	$3,300	$2.30	24d	1	0.07mi
947 Cahal Ave Nashville, TN	3.0	2.0	2123	$3,500	$1.65	24d	1	0.08mi
1004 Cahal Ave Nashville, TN	3.0	2.0	1829	$2,700	$1.48	13d	1	0.13mi
1035 Chester Ave #2 Nashville, TN	3.0	3.0	1601	$2,950	$1.84	8d	1	0.23mi
1003B Spain Ave Nashville, TN	3.0	3.0	1801	$2,723	$1.51	24d	1	0.23mi
915 Delmas Ave Unit B Nashville, TN	3.0	2.5	1888	$3,023	$1.60	8d	1	0.24mi
939 Spain Ave Nashville, TN	3.0	3.0	2178	$4,200	$1.93	5d	1	0.24mi
1117 Chester Ave Unit A Nashville, TN	3.0	3.0	2147	$3,500	$1.63	24d	1	0.24mi
917B Spain Ave Nashville, TN	3.0	3.0	1428	$2,450	$1.72	5d	1	0.28mi
1008 Dozier Pl Nashville, TN	3.0	2.5	1888	$2,795	$1.48	24d	1	0.32mi
1008B Dozier Pl Nashville, TN	3.0	2.5	1888	$2,795	$1.48	24d	1	0.33mi
2810 Gear St Nashville, TN	3.0	5.5	2200	$3,250	$1.48	18d	1	0.35mi
942 Strouse Ave Unit B Nashville, TN	3.0	2.5	1800	$2,800	$1.56	12d	1	0.36mi
1146 Cahal Ave Nashville, TN	3.0	3.0	2368	$3,500	$1.48	22d	1	0.36mi
2424 Inga St Nashville, TN	3.0	2.0	1440	$2,495	$1.73	17d	1	0.37mi
808 Vibe Pl Unit 1492998P Nashville, TN	3.0	3.0	1517	$4,544	$3.00	3d	1	0.40mi
1111 McKennie Ave Unit A Nashville, TN	3.0	2.5	2101	$3,200	$1.52	24d	1	0.43mi
901 Cherokee Ave Nashville, TN	3.0	1.0–2.0	1457	$2,861	$1.96	3d	12	0.43mi
1078 Zophi St Unit A Nashville, TN	3.0	2.5	1890	$3,200	$1.69	24d	1	0.51mi
928 Thomas Ave Nashville, TN	3.0	2.5	2157	$4,500	$2.09	22d	1	0.51mi
1629 Chase St Nashville, TN	3.0	3.0	1908	$2,800	$1.47	8d	1	0.57mi
3060 Edwin Cir Nashville, TN	3.0	3.0	2070	$2,995	$1.45	5d	1	0.62mi
3060 Edwin Cir Nashville, TN	3.0	3.0	2070	$3,200	$1.55	18d	1	0.62mi
1114 McGavock Pike Unit B Nashville, TN	3.0	2.5	2043	$3,365	$1.65	3d	1	0.63mi
1114 McGavock Pike Unit A Nashville, TN	3.0	2.5	1844	$2,730	$1.48	3d	1	0.63mi
618 Cogdill Ln Nashville, TN	2.0–3.0	2.5–3.5	1857	$2,799	$1.51	4d	8	0.64mi
2308A Scott Ave Nashville, TN	3.0	2.5	2236	$3,000	$1.34	5d	1	0.64mi
2308 Scott Ave Nashville, TN	3.0	2.5	2236	$3,000	$1.34	5d	1	0.65mi
1712 Straightway Ave Nashville, TN	3.0	3.0	2500	$3,450	$1.38	18d	1	0.66mi
1811 Cahal Ave Nashville, TN	3.0	3.0	2078	$3,375	$1.62	21d	1	0.71mi
1016 Maynor Ave Unit A Nashville, TN	3.0	3.5	2264	$3,445	$1.52	21d	1	0.71mi
1302A Montgomery Ave Nashville, TN	3.0	3.5	1937	$2,773	$1.43	15d	1	0.74mi
2615A Pennington Ave Nashville, TN	3.0	3.0	1954	$3,000	$1.54	18d	1	0.77mi
1101 Petway Ave Nashville, TN	3.0	2.5	1528	$2,900	$1.90	18d	1	0.79mi
2126B Burns St Nashville, TN	3.0	2.5	1500	$2,600	$1.73	18d	1	0.80mi
862 W Sharpe Ave #4 Nashville, TN	3.0	3.5	1646	$2,895	$1.76	24d	1	0.87mi
2170 Rock City St Unit A Nashville, TN	3.0	2.5	1416	$2,550	$1.80	17d	1	0.90mi
2079 Oakwood Ave Nashville, TN	2.0	2.5	1800	$2,500	$1.39	24d	1	0.90mi
1036 Seymour Ave Unit A Nashville, TN	3.0	2.0	1719	$2,545	$1.48	5d	1	0.91mi
2173A Rock City St Nashville, TN	3.0	2.5	2200	$3,000	$1.36	5d	1	0.94mi

Listing history 13 events

1. 2026-06-03
   days on market $875,000 Active 29 DOM
2. 2026-06-02
   days on market $875,000 Active 28 DOM
3. 2026-06-01
   days on market $875,000 Active 27 DOM
4. 2026-05-31
   days on market $875,000 Active 26 DOM
5. 2026-05-21
   status Active
6. 2026-05-18
   historical Active Under Contract
7. 2026-05-13
   price $875,000
8. 2026-05-06
   listed $899,900 Active
9. 2026-04-29
   historical $899,900
10. 1994-04-26
    soldstatus $34,000
11. 1989-11-01
    soldstatus $53,789
12. 1985-11-01
    soldstatus $42,216
13. 1985-05-01
    soldstatus $40,000

ⓘ 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: $4,997 · $416/mo
• Projected year-2 tax: $6,212 · $518/mo
• Expected delta: +$1,216/yr (+$101/mo · 24.3%)

ⓘ 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 · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $124,584
• − Mortgage interest: −$49,014
• − Property taxes: −$4,997
• − Insurance: −$4,375
• − Repairs & maintenance: −$9,967
• − Management: −$9,967
• − Depreciation: −$25,455
• Taxable income: $20,811
• Est. tax owed @ 24.0%: −$4,995
• After-tax cash flow: $28,992/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): 19,038
• Household income: $86,701
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 627.0

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: Predominantly White (69%)
• Race & ethnicity: White 69% Black 16% Two or more races 9% Hispanic / Latino 7% Asian 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 3% Romanian 3% Serbian 3%
• Foreign-born: 6% · Canada
• Languages at home: 93% English-only · Spanish 5% Vietnamese 1% Other Asian/Pacific 0%

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: ▼ -203.68%
• Current HPI: 461.6653
• Rent YoY: ▲ 2.38%
• 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

+2087.5% since first listed

9 events — show timeline

• 2026-05-21 Relisted — REALTRACS as Distributed by MLS Grid
• 2026-05-18 Contingent — REALTRACS as Distributed by MLS Grid
• 2026-05-13 Price Changed $875,000 REALTRACS as Distributed by MLS Grid
• 2026-05-06 Listed $899,900 REALTRACS as Distributed by MLS Grid
• 2026-04-29 Coming Soon $899,900 REALTRACS as Distributed by MLS Grid
• 1994-04-26 Sold (Public Records) $34,000 Public Records
• 1989-11-01 Sold (Public Records) $53,789 Public Records
• 1985-11-01 Sold (Public Records) $42,216 Public Records
• 1985-05-01 Sold (Public Records) $40,000 Public Records

Property tax history

+8.2%/yr

Latest (2025): $4,997 · +20.2% YoY. Source: county tax records.