320 Welch Rd Unit N2 · Nashville-Davidson metropolitan government (balance), TN 37211

$98,900

1 bd · 1.0 ba · 683 sqft · Condo public records · 51 Days on market

Built 1968 $316/mo HOA · 26% of rent

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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 +14.2/30.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• DSCR +4.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Freshly painted, Tiled Flooring, Tiled Bath surround. Washer/Dryer Hook-ups. Unit had been previously gutted and remodeled and all plumbing & electrical updated. One of the nicest units in the complex. Close to Shopping, Easy to Rent. HOA includes trash, water and exterior maintenance. Selling As-Is, no repairs. Easy to show. Cash offers only, no loans.

Key facts

• Plumbing updated
• Tiled flooring
• Tiled bath surround

Tags

• TILED FLOORING
• TILED BATH SURROUND
• WASHER DRYER HOOK UPS
• PLUMBING UPDATED
• ELECTRICAL UPDATED
• PAGODA CONDOMINIUMS

Property features AI

Finance

• Other: Living area reported as 683 square feet
• HOA & community: Condominium with HOA; HOA fee $316 monthly

Exterior

• Parking: No covered parking reported; No parking spaces reported
• Utilities: Public water; Public sewer; Electricity available; Water available
• Home design: Residential flat condo (attached); One story
• Construction: Frame, brick, and wood siding construction; Other foundation; Existing (year built details not specified)
• Exterior features: Patio

Interior

• Kitchen: Electric range
• Bedrooms: 1 bedroom (main level)
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Tile flooring; Electric range
• Laundry & utility: Has heating; Has cooling

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $99k.

Deal economics

• At list price, monthly cash flow is $16 ($193/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.5% 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: Glencliff Elementary (math 15% / reading 14%, grade F, #753 of 952 statewide, top 81%, 526 students, 0% FRL); Wright Middle (math 2% / reading 3%, grade F, #329 of 333 statewide, top 99%, 686 students, 0% FRL); Glencliff High School (math 0% / reading 6%, grade F, #323 of 332 statewide, top 98%, 1,177 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 (-0.2%/yr); 454 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $684 of loan paydown is wiped out by about $3k 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 51 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,933 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.21% ✓
• Cap rate: 6.49%
• Cash-on-cash: 0.70%
• DSCR: 1.03
• GRM: 6.9

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: -19.7%
• Equity multiple: 0.34×
• Total profit: $-18,342
• Equity at exit: $14,746

10-year hold

• IRR: -25.0%
• Equity multiple: 0.01×
• Total profit: $-27,530
• Equity at exit: $8,551

Cash invested: $27,692 (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 37211

• Rents YoY: -0.2%
• Active inventory: 454
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,198 high
• Mortgage (P&I): −$519
• Tax from tax record: −$54 /mo · $651/yr
• Insurance: −$41
• HOA: −$316
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $16

Break-even live

Break-even rent $1,177

Max offer price $98,900

Occupancy floor 94%

Sensitivity live

Price	-10% $72	-5% $44	+0% $16	+5% $-12	+10% $-40
Rent	-10% $-79	-5% $-31	+0% $16	+5% $63	+10% $111
Rate	-1.0pp $66	-0.5pp $41	base $16	+0.5pp $-10	+1.0pp $-36

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: $24,725
• Closing costs: $2,967
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4040 Travis Dr Nashville, TN	2.0	1.0–2.0	779	$1,464	$1.88	5d	14	0.04mi
370 Wallace Rd Unit 15-BUNIT 15-B Nashville, TN	1.0	1.0	650	$895	$1.38	5d	1	0.40mi
371 Wallace Rd Nashville, TN	1.0–2.0	1.0–2.0	900	$1,145	$1.27	3d	12	0.45mi
365 Paragon Mills Rd Nashville, TN	1.0–2.0	1.0	800	$1,200	$1.50	25d	3	0.52mi
100 Tanglewood Ct Nashville, TN	3.0	1.0–2.0	844	$1,183	$1.40	4d	102	0.61mi
380 Harding Pl Nashville, TN	3.0	1.0–2.5	993	$1,316	$1.32	5d	13	0.63mi
4700 Humber Dr Nashville, TN	2.0	1.0–1.5	907	$1,210	$1.33	3d	14	0.73mi
270 Tampa Dr Nashville, TN	1.0–2.0	1.0–2.0	912	$895	$0.98	25d	3	0.74mi
533 Coventry Ct Unit A08 Nashville, TN	1.0	1.0	750	$1,045	$1.39	25d	1	0.74mi
533 Coventry Ct Unit H16 Nashville, TN	1.0	1.0	750	$1,090	$1.45	25d	1	0.74mi
550 Harding Pl Nashville, TN	1.0–2.0	1.0–1.5	872	$895	$1.03	21d	3	0.89mi
550 Harding Pl Nashville, TN	1.0–2.0	1.0–1.5	872	$875	$1.00	4d	5	0.89mi
180 Wallace Rd Nashville, TN	1.0–2.0	1.0–2.0	820	$1,079	$1.32	4d	71	1.15mi
100 Antioch Pike Nashville, TN	1.0–3.0	1.0–2.0	1201	$1,144	$0.95	4d	33	1.25mi
200 Paragon Mills Rd Nashville, TN	1.0–2.0	1.0–2.0	897	$1,099	$1.22	4d	10	1.25mi
189 Wallace Rd Nashville, TN	1.0	1.0	480	$1,226	$2.55	4d	13	1.32mi
301 Antioch Pike Unit B Nashville, TN	2.0	1.0	500	$1,295	$2.59	23d	1	1.38mi
5099 Linbar Dr Nashville, TN	1.0–2.0	1.0–1.5	807	$1,099	$1.36	22d	6	1.42mi
517 Veritas St Unit 16 Nashville, TN	1.0	1.0	600	$995	$1.66	6d	1	1.42mi
517 Veritas St Unit 16 Nashville, TN	1.0	1.0	600	$1,195	$1.99	14d	1	1.42mi
517 Veritas St Unit 16 Nashville, TN	1.0	1.0	600	$995	$1.66	5d	1	1.42mi
517 Veritas St Unit 16 Nashville, TN	1.0	1.0	600	$995	$1.66	4d	1	1.42mi
517 Veritas St Unit 09 Nashville, TN	1.0	1.0	600	$995	$1.66	25d	1	1.42mi
5040 Linbar Dr Nashville, TN	2.0	1.0–2.5	884	$1,900	$2.15	23d	9	1.43mi
5042 Linbar Dr Nashville, TN	2.0	1.0–2.5	900	$1,498	$1.67	3d	9	1.48mi

HOA detail condo

• Monthly dues: $316 · $3,792/yr
• Likely covers: watertrashelectricexterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-21
   days on market $98,900 Active 51 DOM
2. 2026-06-18
   days on market $98,900 Active 48 DOM
3. 2026-06-17
   days on market $98,900 Active 47 DOM
4. 2026-06-16
   days on market $98,900 Active 46 DOM
5. 2026-06-15
   days on market $98,900 Active 45 DOM
6. 2026-06-13
   days on market $98,900 Active 43 DOM
7. 2026-06-13
   days on market $98,900 Active 42 DOM
8. 2026-06-09
   days on market $98,900 Active 39 DOM
9. 2026-06-08
   days on market $98,900 Active 38 DOM
10. 2026-06-07
    days on market $98,900 Active 37 DOM
11. 2026-06-05
    days on market $98,900 Active 34 DOM
12. 2026-06-03
    days on market $98,900 Active 33 DOM
13. 2026-06-02
    days on market $98,900 Active 32 DOM
14. 2026-06-01
    days on market $98,900 Active 31 DOM
15. 2026-05-31
    days on market $98,900 Active 30 DOM
16. 2026-05-01
    listed $98,900 Active
17. 2022-07-20
    soldstatus $95,000
18. 2022-07-19
    soldstatus $95,000 Closed 359-char remark

    Show marketing remark (359 chars)

    Freshly painted, Tiled Flooring, Tiled Bath surround. Washer/Dryer Hook-ups. Unit had been previously gutted and remodeled and all plumbing & electrical updated. One of the nicest units in the complex. Close to Shopping, Easy to Rent. HOA includes trash, water and exterior maintenance. Selling As-Is, no repairs. Easy to show. Cash offers only, no loans.

19. 2022-07-13
    status Pending 359-char remark

    Show marketing remark (359 chars)

    Freshly painted, Tiled Flooring, Tiled Bath surround. Washer/Dryer Hook-ups. Unit had been previously gutted and remodeled and all plumbing & electrical updated. One of the nicest units in the complex. Close to Shopping, Easy to Rent. HOA includes trash, water and exterior maintenance. Selling As-Is, no repairs. Easy to show. Cash offers only, no loans.

20. 2022-06-28
    status Active 359-char remark

    Show marketing remark (359 chars)

    Freshly painted, Tiled Flooring, Tiled Bath surround. Washer/Dryer Hook-ups. Unit had been previously gutted and remodeled and all plumbing & electrical updated. One of the nicest units in the complex. Close to Shopping, Easy to Rent. HOA includes trash, water and exterior maintenance. Selling As-Is, no repairs. Easy to show. Cash offers only, no loans.

21. 2022-05-12
    status Pending 359-char remark

    Show marketing remark (359 chars)

    Freshly painted, Tiled Flooring, Tiled Bath surround. Washer/Dryer Hook-ups. Unit had been previously gutted and remodeled and all plumbing & electrical updated. One of the nicest units in the complex. Close to Shopping, Easy to Rent. HOA includes trash, water and exterior maintenance. Selling As-Is, no repairs. Easy to show. Cash offers only, no loans.

22. 2022-05-09
    listed $107,000 Active 359-char remark

    Show marketing remark (359 chars)

    Freshly painted, Tiled Flooring, Tiled Bath surround. Washer/Dryer Hook-ups. Unit had been previously gutted and remodeled and all plumbing & electrical updated. One of the nicest units in the complex. Close to Shopping, Easy to Rent. HOA includes trash, water and exterior maintenance. Selling As-Is, no repairs. Easy to show. Cash offers only, no loans.

23. 2005-09-27
    soldstatus $25,000
24. 2001-04-24
    soldstatus $25,000
25. 2000-02-17
    soldstatus $24,000
26. 1994-11-15
    soldstatus $5,500
27. 1984-11-01
    soldstatus $24,906
28. 1983-08-01
    soldstatus $29,300
29. 1983-08-01
    soldstatus $29,300

ⓘ 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: $651 · $54/mo
• Projected year-2 tax: $702 · $59/mo
• Expected delta: +$51/yr (+$4/mo · 7.8%)

ⓘ 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 · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $14,373
• − Mortgage interest: −$5,540
• − Property taxes: −$651
• − Insurance: −$494
• − Repairs & maintenance: −$1,150
• − Management: −$1,150
• − HOA: −$3,792
• − Depreciation: −$2,877
• Taxable loss: −$1,282
• Est. tax savings @ 24.0%: +$308
• After-tax cash flow: $501/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): 76,573
• Household income: $71,399
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 4645.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 50% Hispanic / Latino 26% Black 15% Two or more races 13% Asian 5%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Arab 1% Serbian 1% Romanian 1%
• Foreign-born: 26% · Canada, Vietnam, South Korea
• Languages at home: 65% English-only · Spanish 21% Other Indo-European 4% Arabic 3%

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: ▼ -278.35%
• Current HPI: 312.7189
• Rent YoY: ▼ -0.19%
• 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

+237.5% since first listed

14 events — show timeline

• 2026-05-01 Listed $98,900 REALTRACS as Distributed by MLS Grid
• 2022-07-20 Sold (Public Records) $95,000 Public Records
• 2022-07-19 Sold (MLS) $95,000 REALTRACS as Distributed by MLS Grid
• 2022-07-13 Pending — REALTRACS as Distributed by MLS Grid
• 2022-06-28 Relisted — REALTRACS as Distributed by MLS Grid
• 2022-05-12 Pending — REALTRACS as Distributed by MLS Grid
• 2022-05-09 Listed $107,000 REALTRACS as Distributed by MLS Grid
• 2005-09-27 Sold (Public Records) $25,000 Public Records
• 2001-04-24 Sold (Public Records) $25,000 Public Records
• 2000-02-17 Sold (Public Records) $24,000 Public Records
• 1994-11-15 Sold (Public Records) $5,500 Public Records
• 1984-11-01 Sold (Public Records) $24,906 Public Records
• 1983-08-01 Sold (Public Records) $29,300 Public Records
• 1983-08-01 Sold (Public Records) $29,300 Public Records

Property tax history

+10.2%/yr

Latest (2025): $651 · +155.9% YoY. Source: county tax records.