322 Mulberry Ter Unit 157-A · Nashville-Davidson metropolitan government (balance), TN 37115

$326,900

2 bd · 2.5 ba · 1,569 sqft · Townhouse · 11 Days on market

Built 2026 Excellent condition $208/sqft · at area comps Est $335k · at est.

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Why this score? — see what drove the F 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).

• ARV discount +8.6/15.0
• Cash flow +5.5/30.0
• Condition / age +4.8/5.0
• Livability +2.5/5.0
• Rent growth +2.3/5.0
• 1% rule +1.0/10.0
• Schools +0.4/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Move-in ready Bryce! Last one available for the rest of the year. Step inside a gated, resort-style community in Madison with a pool, fitness center, and dog park, this home delivers lifestyle value that's hard to match-especially with first-phase pricing now underway. Inside, the Bryce is anchored by an exceptionally large and luxurious primary suite, designed as a true retreat with separation, privacy, and a spa-like feel rarely found in a home of this size. The first floor is built for entertaining, with an open kitchen and living space that makes hosting effortless and everyday living feel elevated.

Key facts

• Gated community
• Dog park
• Fitness center

Tags

• GATED COMMUNITY
• RESORT STYLE COMMUNITY
• POOL
• FITNESS CENTER
• DOG PARK
• PRIMARY SUITE

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $327k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-703 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $225k (31.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (39.8% below list).
• Recommended offer: $197k (39.8% below list) — sets the bar for 1% rule.
• Cap rate 3.7% vs local median 3.0% in Nashville-Davidson metropolitan government (balance) — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads: area grade F — 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: Stratton Elementary (math 2% / reading 8%, grade F, #896 of 952 statewide, top 96%, 474 students, 0% FRL); Madison Middle (math 2% / reading 3%, grade F, #329 of 333 statewide, top 99%, 400 students, 0% FRL); Hunters Lane High (math 0% / reading 8%, grade F, #321 of 332 statewide, top 97%, 1,466 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 (-0.9%/yr); 475 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 6,873 units permitted in Davidson County in 2024 (4,138 in 5+ unit buildings).
• This rent runs 43% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $196,923 (39.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.60% ✗
• Cap rate: 3.71%
• Cash-on-cash: -9.22%
• DSCR: 0.59
• GRM: 13.8

CMA / ARV

• ARV (median comp): $334,950
• List price: $326,900
• Delta: -2.40%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
324 Mulberry Ter Unit B	0.05mi	2/2.5	1,569 (0%)	3mo	$329,900	$210	95
326 Mullberry Ter Unit B	0.04mi	2/2.5	1,569 (0%)	6mo	$340,000	$217	93
320 Mullberry Ter Unit A	0.03mi	2/2.5	1,569 (0%)	8mo	$351,574	$224	92
320 Mullberry Ter Unit B	0.03mi	2/2.5	1,569 (0%)	8mo	$353,700	$225	92
326A Mulberry Ter	0.05mi	2/2.5	1,569 (0%)	7mo	$345,100	$220	92
107 Chadwick Ct	0.03mi	3/3.5 (+1)	1,749 (+12%)	5mo	$385,850	$221	66
401 Columbus Trace Ct	0.47mi	3/2.0 (+1)	1,641 (+5%)	2mo	$224,000	$137	62
302 Williams Ave #102	0.31mi	3/3.5 (+1)	1,688 (+8%)	3mo	$299,000	$177	62
163 Heritage Trace Dr	0.51mi	3/2.5 (+1)	1,472 (-6%)	0mo	$208,500	$142	60
245 Nesbitt Ln	0.18mi	3/2.5 (+1)	1,766 (+13%)	8mo	$464,300	$263	59
302 Plymouth Rock Ct	0.59mi	3/2.5 (+1)	1,472 (-6%)	9mo	$226,000	$154	50
1053 Heritage Dr	0.64mi	3/2.0 (+1)	1,378 (-12%)	9mo	$200,000	$145	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -36.0%
• Equity multiple: -0.13×
• Total profit: $-103,516
• Equity at exit: $48,742

10-year hold

• IRR: -72.4%
• Equity multiple: -0.86×
• Total profit: $-170,012
• Equity at exit: $28,264

Cash invested: $91,532 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 19 active · 20 under contract
• Months of supply: 8.8 mo (11%/mo absorbed)
• Median asking: $364,900 ($192/sqft)
• Median days on market: 44 d
• This list price: 37% of active listings are priced below it
• ARV vs active asking: +10.9% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 37115

• Rents YoY: -0.9%
• Active inventory: 475
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $1,969 high
• Mortgage (P&I): −$1,714
• Tax est. 1.5%: −$409 /mo · $4,904/yr
• Insurance: −$136
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $-703

Break-even live

Break-even rent $2,860

Max offer price $225,111

Occupancy floor —

Sensitivity live

Price	-10% $-478	-5% $-590	+0% $-703	+5% $-816	+10% $-929
Rent	-10% $-859	-5% $-781	+0% $-703	+5% $-626	+10% $-548
Rate	-1.0pp $-539	-0.5pp $-620	base $-703	+0.5pp $-788	+1.0pp $-874

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: $81,725
• Closing costs: $9,807
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1737 Heritage Glen Dr Madison, TN	3.0	2.0	1205	$1,950	$1.62	4d	1	0.12mi
1508 Tradition Ct Madison, TN	3.0	2.0	1475	$2,100	$1.42	0d	1	0.13mi
531 Amquiwood Ct Madison, TN	2.0	2.0	1066	$2,200	$2.06	103d	1	0.20mi
326B Mulberry TER Madison, TN	2.0	2.5	1569	$2,500	$1.59	119d	1	0.20mi
326B Mulberry TER Madison, TN	2.0	2.5	1569	$2,100	$1.34	82d	1	0.20mi
1512 Heritage View Blvd Madison, TN	3.0	2.0	1522	$1,950	$1.28	4d	1	0.33mi
107 Sarver Ave Madison, TN	3.0	2.5	2157	$3,250	$1.51	0d	1	0.41mi
428 Williams Ave Madison, TN	3.0	2.5	1507	$2,038	$1.35	5d	7	0.41mi
857 Heritage Cir Madison, TN	3.0	1.5	1056	$1,900	$1.80	119d	1	0.44mi
255 Mayflower Ln N Madison, TN	3.0	2.5	1472	$1,795	$1.22	97d	1	0.52mi
110 One Mile Pkwy Madison, TN	1.0–3.0	1.0–2.0	1018	$1,753	$1.72	0d	32	0.59mi
510 Heritage Dr Madison, TN	1.0–4.0	1.0–2.5	1228	$1,540	$1.25	0d	23	0.63mi
1019 N Graycroft Ave Madison, TN	3.0	1.0	1200	$1,800	$1.50	112d	1	0.71mi
1114 N Graycroft Ave Madison, TN	2.0	1.0	1100	$1,423	$1.29	9d	1	0.73mi
1401 Gallatin Pike N Madison, TN	1.0–3.0	1.0–2.0	1048	$2,092	$2.00	0d	41	0.76mi
705 Ellie Dr Madison, TN	3.0	2.5	2000	$2,950	$1.48	0d	1	0.77mi
412 Hickory Chase Dr Madison, TN	3.0	2.5	1975	$2,295	$1.16	9d	1	0.83mi
200 Delaware Ave Madison, TN	3.0	1.0	1566	$1,645	$1.05	7d	1	0.86mi
555 N DuPont Ave Unit D91 Madison, TN	2.0	2.0	1100	$1,350	$1.23	3d	1	0.86mi
187 Connare Dr Unit 187 Madison, TN	2.0	1.5	1200	$1,550	$1.29	68d	1	0.87mi
100 Star Blvd Madison, TN	1.0–2.0	1.0–2.0	900	$1,260	$1.40	5d	7	0.88mi
555 N DuPont Ave Madison, TN	2.0	1.0–2.0	1034	$1,324	$1.28	5d	2	0.91mi
204 W Monticello Ave Madison, TN	3.0	2.0	1275	$2,163	$1.70	80d	1	1.08mi
708 N DuPont Ave Madison, TN	3.0	2.5	1904	$2,300	$1.21	5d	1	1.21mi
101 Coventry Woods Dr Madison, TN	2.0	1.5	1099	$1,520	$1.38	5d	1	1.22mi
101 Coventry Woods Dr Madison, TN	2.0	1.5	1099	$1,520	$1.38	3d	1	1.22mi
266 Neelys Bend Rd Madison, TN	3.0	2.0	1668	$2,600	$1.56	112d	1	1.24mi
2108 Lombardia Ct Madison, TN	3.0	2.5	1548	$2,135	$1.38	9d	1	1.27mi
419 Chadwell Dr Madison, TN	2.0	2.0	1200	$1,995	$1.66	67d	1	1.32mi
235 Madison Blvd Madison, TN	3.0	1.0	1422	$2,100	$1.48	82d	1	1.33mi
220 Jenna Lee Cir Madison, TN	2.0	2.5	1164	$1,700	$1.46	9d	1	1.33mi
208 Jenna Lee Cir Madison, TN	2.0	2.5	1156	$1,975	$1.71	119d	1	1.35mi
1562 Crestview Dr Madison, TN	1.0–2.0	1.0–2.0	930	$1,380	$1.48	0d	3	1.40mi
218B Myatt Dr Madison, TN	3.0	3.5	1614	$2,350	$1.46	63d	1	1.42mi
309 Myatt Dr Unit G Madison, TN	2.0	2.5	1260	$1,795	$1.42	3d	1	1.43mi
222 Emmitt Ave Madison, TN	2.0	1.0	1178	$1,850	$1.57	78d	1	1.45mi
101 Rothwood Ct Madison, TN	3.0	2.0	1100	$2,300	$2.09	112d	1	1.46mi
1600 Nesbitt Ln Madison, TN	2.0	1.0–2.0	860	$1,367	$1.59	0d	8	1.47mi
409 Barbara Dr Madison, TN	3.0	2.5	1849	$3,000	$1.62	112d	1	1.47mi
823 Neelys Chase Dr Madison, TN	3.0	2.0	1346	$2,185	$1.62	76d	1	1.48mi

Listing history 5 events

1. 2026-06-03
   days on market $326,900 Active 11 DOM
2. 2026-06-02
   days on market $326,900 Active 10 DOM
3. 2026-06-01
   days on market $326,900 Active 9 DOM
4. 2026-06-01
   price $326,900 Active 8 DOM
5. 2026-05-31
   days on market $328,400 Active 8 DOM

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

Taxation est. · year 1

• Rental income: $23,631
• − Mortgage interest: −$18,311
• − Property taxes: −$4,904
• − Insurance: −$1,634
• − Repairs & maintenance: −$1,890
• − Management: −$1,890
• − Depreciation: −$9,510
• Taxable loss: −$14,509
• Est. tax savings @ 24.0%: +$3,482
• After-tax cash flow: $-4,959/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.

Condition & rehab AI · 25 photos

Excellent 95/100 None rehab

This move-in ready townhouse in a gated community offers a luxurious and modern living experience with no immediate repairs or maintenance needed.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both Smart home integration — Improves convenience and adds modern appeal ↑

F Composite school gradezoned avg 4/100

Zoned Schools

Elementary Stratton Elementary F TN #896/952 Nat'l #40,579/41,679 Middle Madison Middle F TN #329/333 Nat'l #13,969/14,009 High Hunters Lane High F TN #321/332 Nat'l #17,117/17,239

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 · 808,568 people
• City population: 677,595
• Metro: Nashville-Davidson--Murfreesboro--Franklin, TN
• Population (ZIP): 40,615
• Household income: $54,566
• Rent vs Own: 56.7% rent · 43.3% own
• Severe rent burden: 9% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 37% Black 32% Hispanic / Latino 26% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 13% Cuban 2%
• Common ancestry: Serbian 1% Italian 1% Iranian 1%
• Foreign-born: 18% · Canada
• Languages at home: 74% English-only · Spanish 22% Tagalog/Filipino 1% Other Indo-European 1%

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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: ▼ -259.74%
• Current HPI: 341.9614
• Rent YoY: ▼ -0.94%
• Metro: Nashville-Davidson--Murfreesboro--Franklin, TN
• State GDP YoY: ▲ 2.78%
• F500 in state: 22

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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