2116 Herman St · Nashville-Davidson metropolitan government (balance), TN 37208

$189,900

2 bd · 2.0 ba · 1,064 sqft · SingleFamily public records · 45 Days on market

Built 1950 6,098 sqft lot Est $365k · 48% under ↓ 46% since listing

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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 +21.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.3/10.0
• Rent growth +3.0/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent Rehab Opportunity . Awesome view of downtown Nashville from the front porch! This cinder block structure has renovation potential! Walk-Out Basement. House is surrounded by new high-end luxury homes and condos. Walk or cycle to downtown. WeGo Public Transit passes in front of the house, 2 min drive ti I-40, I-440, I-65 & Briley Pkwy, 2 min walk to Nashville General Hospital/Meharry Medical College, 7 minute drive to Vanderbilt campus. SOLD AS IS. Please confirm square feet for yourself.

Key facts

• Cinder block home
• Walk-out basement
• Walkable access

Tags

• CINDER BLOCK HOME
• WALK-OUT BASEMENT
• NO HOA
• PRIME LOCATION
• WALKABLE ACCESS
• BIKE-FRIENDLY ACCESS

Property features AI

Finance

• Other: Lot roughly 0.14 acres (approx. 41 x 157); Living area about 1,064 square feet; Year listed as existing; one level

Exterior

• Parking: No covered spaces reported; No total parking spaces reported
• Utilities: Public water; Public sewer; Water available
• Home design: Single-family residence; One story
• Construction: Frame construction; Other construction material
• Exterior features: Covered patio

Interior

• Kitchen: Kitchen approximately 12 x 8
• Bedrooms: 2 bedrooms (both on main level); Bedroom sizes approximately 15 x 10 and 12 x 9
• Flooring: Concrete flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heating present (type: Other); Cooling present (type: Other)
• Interior features: Partial basement; No built-in appliances listed

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $290 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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: Park Avenue Elementary (math 2% / reading 12%, grade F, #863 of 952 statewide, top 92%, 349 students, 0% FRL); Haynes Middle (math 0% / reading 3%, grade F, #332 of 333 statewide, top 100%, 291 students, 0% FRL); 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 rising (+2.1%/yr); 351 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 6,873 units permitted in Davidson County in 2024 (4,138 in 5+ unit buildings).
• This rent runs 36% of the median local income ($66k/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 $1k of loan paydown is wiped out by about $6k 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 45 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 5y 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: 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 $184,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.03% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.55%
• DSCR: 1.29
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $364,952
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
905 21st Ave N	0.04mi	3/2.0 (+1)	1,152 (+8%)	6mo	$340,000	$295	75
2120 Herman St #2	0.01mi	3/2.5 (+1)	1,200 (+13%)	9mo	$472,000	$393	63
2120 Herman St #1	0.01mi	3/2.5 (+1)	1,200 (+13%)	9mo	$472,000	$393	63
2120 Herman St #7	0.01mi	3/2.5 (+1)	1,200 (+13%)	9mo	$472,000	$393	63
2120 Herman St #8	0.01mi	3/2.5 (+1)	1,200 (+13%)	9mo	$472,000	$393	63
2120 Herman St #9	0.01mi	3/2.5 (+1)	1,200 (+13%)	9mo	$472,000	$393	63
717 Lena St	0.54mi	3/2.0 (+1)	1,153 (+8%)	2mo	$330,000	$286	54
419 Fisk St	0.57mi	2/1.5	960 (-10%)	2mo	$204,500	$213	54
720 Lena St	0.51mi	3/2.0 (+1)	1,152 (+8%)	6mo	$395,000	$343	52
910 29th Ave N	0.64mi	3/2.0 (+1)	1,012 (-5%)	8mo	$299,000	$295	50
2607 Alameda St	0.49mi	3/1.0 (+1)	1,147 (+8%)	8mo	$179,900	$157	48
2617 Herman St	0.47mi	3/2.0 (+1)	1,168 (+10%)	13mo	$350,100	$300	46

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 · 2.15% rent growth · sell at horizon

5-year hold

• IRR: -7.2%
• Equity multiple: 0.74×
• Total profit: $-13,947
• Equity at exit: $28,315

10-year hold

• IRR: 1.4%
• Equity multiple: 1.09×
• Total profit: $4,944
• Equity at exit: $16,419

Cash invested: $53,172 (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 37208

• Home prices YoY: -12.6%
• Rents YoY: 2.1%
• Active inventory: 351
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,960 high
• Mortgage (P&I): −$996
• Tax from tax record: −$183 /mo · $2,201/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $290

Break-even live

Break-even rent $1,593

Max offer price $189,900

Occupancy floor 80%

Sensitivity live

Price	-10% $398	-5% $344	+0% $290	+5% $237	+10% $183
Rent	-10% $135	-5% $213	+0% $290	+5% $368	+10% $445
Rate	-1.0pp $386	-0.5pp $339	base $290	+0.5pp $241	+1.0pp $191

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1911 Morena St Nashville, TN	2.0	2.0	928	$1,595	$1.72	25d	1	0.14mi
1825 Hermosa St Nashville, TN	3.0	2.0	1288	$2,280	$1.77	15d	1	0.14mi
2222 Morena St Unit B Nashville, TN	2.0	1.0	700	$1,350	$1.93	17d	1	0.16mi
2222 Morena St Unit A Nashville, TN	2.0	2.0	750	$1,450	$1.93	17d	1	0.16mi
908 25th Ave N Nashville, TN	2.0	1.0	750	$1,500	$2.00	25d	1	0.29mi
2314 Alameda St Nashville, TN	3.0	2.0	1180	$1,850	$1.57	25d	1	0.30mi
2314 Alameda St Nashville, TN	3.0	2.0	1180	$1,850	$1.57	12d	1	0.30mi
640 21st Ave N Nashville, TN	1.0–2.0	1.0–2.0	852	$3,410	$4.00	22d	10	0.30mi
2100 Clifton Ave Nashville, TN	2.0	1.0	750	$1,875	$2.50	9d	6	0.37mi
2406 Meharry Blvd Unit B Nashville, TN	2.0	1.0	750	$1,095	$1.46	25d	1	0.39mi
1903 Jefferson St Unit 304 Nashville, TN	2.0	2.0	903	$1,525	$1.69	25d	1	0.42mi
2416 Meharry Blvd Unit 2 Nashville, TN	2.0	1.0	800	$1,500	$1.88	22d	1	0.42mi
2416 Meharry Blvd Apt 3 Nashville, TN	2.0	1.0	800	$1,450	$1.81	21d	1	0.42mi
2018 Jefferson St Unit D Nashville, TN	2.0	1.0	880	$1,650	$1.88	25d	1	0.44mi
1723 Jo Johnston Ave Nashville, TN	2.0	2.5	1419	$2,199	$1.55	12d	1	0.45mi
2400 Charlotte Ave Nashville, TN	1.0–2.0	1.0–2.0	950	$2,333	$2.46	3d	27	0.45mi
710 27th Ave N Nashville, TN	3.0	2.0	1200	$2,950	$2.46	15d	1	0.48mi
1813 Pearl St Nashville, TN	3.0	2.0	1260	$2,750	$2.18	25d	1	0.51mi
1727 Pearl St Unit 426-E Nashville, TN	1.0	1.0	738	$1,500	$2.03	25d	1	0.55mi
1037 16th Ave N Unit B Nashville, TN	3.0	2.0	1450	$1,875	$1.29	25d	1	0.56mi
1501 Herman St Nashville, TN	2.0	1.0–2.0	922	$2,769	$3.00	3d	32	0.58mi
800 16th Ave N Nashville, TN	2.0	1.0–2.0	798	$2,557	$3.20	4d	24	0.60mi
2808 Batavia St Nashville, TN	3.0	2.0	1130	$2,000	$1.77	5d	1	0.62mi
1720 Knowles St Unit B Nashville, TN	2.0	1.0	870	$1,299	$1.49	25d	1	0.69mi
2717 Delaware Ave Nashville, TN	2.0	1.0	804	$1,700	$2.11	5d	1	0.70mi
1801 Patterson St Unit 734 Nashville, TN	2.0	2.0	1076	$3,385	$3.15	21d	1	0.70mi
1801 Patterson St Apt 717 Nashville, TN	2.0	2.0	1076	$3,385	$3.15	18d	1	0.71mi
1801 Patterson St Nashville, TN	1.0–2.0	1.0–2.0	865	$3,650	$4.22	22d	27	0.71mi
2714 Jefferson St Unit 202 Nashville, TN	2.0	1.0	1050	$1,349	$1.28	9d	1	0.71mi
1808 State St Nashville, TN	2.0	2.0	800	$1,700	$2.12	25d	1	0.73mi
801 12th Ave N Nashville, TN	2.0	1.0–2.5	1024	$3,570	$3.49	4d	186	0.73mi
1519B 21st Ave N Nashville, TN	2.0	1.5	960	$1,498	$1.56	15d	1	0.75mi
2306 Hammond Dr Nashville, TN	3.0	1.0	912	$1,595	$1.75	25d	1	0.76mi
1708 Underwood St Nashville, TN	3.0	2.0	1044	$1,500	$1.44	5d	1	0.76mi
1700 State St Nashville, TN	1.0	1.0	676	$1,649	$2.44	4d	13	0.78mi
1522 22nd Ave N Nashville, TN	3.0	2.0	1350	$2,600	$1.93	25d	1	0.78mi
1522 22nd Ave N Nashville, TN	3.0	2.0	1350	$2,500	$1.85	5d	1	0.78mi
2830 Georgia Ave Nashville, TN	3.0	2.0	704	$849	$1.21	22d	1	0.79mi
1818 Church St Nashville, TN	1.0	1.0–1.5	602	$1,635	$2.72	3d	7	0.81mi
1600 State St Nashville, TN	2.0	1.0–2.0	878	$3,253	$3.71	3d	38	0.81mi

Listing history 35 events

1. 2026-06-21
   days on market $189,900 Active 45 DOM
2. 2026-06-18
   days on market $189,900 Active 42 DOM
3. 2026-06-17
   days on market $189,900 Active 41 DOM
4. 2026-06-16
   days on market $189,900 Active 40 DOM
5. 2026-06-15
   days on market $189,900 Active 39 DOM
6. 2026-06-13
   days on market $189,900 Active 37 DOM
7. 2026-06-13
   statusdays on market $189,900 Active 36 DOM
8. 2026-06-09
   days on market $189,900 Active Under Contract 33 DOM
9. 2026-06-08
   days on market $189,900 Active Under Contract 32 DOM
10. 2026-06-07
    days on market $189,900 Active Under Contract 31 DOM
11. 2026-06-05
    days on market $189,900 Active Under Contract 28 DOM
12. 2026-06-03
    days on market $189,900 Active Under Contract 27 DOM
13. 2026-06-02
    days on market $189,900 Active Under Contract 26 DOM
14. 2026-06-02
    status $189,900 Active Under Contract 25 DOM
15. 2026-06-01
    days on market $189,900 Active 25 DOM
16. 2026-05-31
    days on market $189,900 Active 24 DOM
17. 2026-05-07
    listed $189,900 Active
18. 2023-06-08
    historical
19. 2023-06-08
    status Active
20. 2023-04-14
    status Active
21. 2023-04-14
    price $247,400
22. 2023-03-24
    status Pending
23. 2023-03-20
    listed $249,900 Active
24. 2022-01-31
    soldstatus $255,900
25. 2022-01-19
    soldstatus $255,900 Closed 506-char remark

    Show marketing remark (506 chars)

    Excellent Rehab Opportunity . Awesome view of downtown Nashville from the front porch! This cinder block structure has renovation potential! Walk-Out Basement. House is surrounded by new high-end luxury homes and condos. Walk or cycle to downtown. WeGo Public Transit passes in front of the house, 2 min drive ti I-40, I-440, I-65 & Briley Pkwy, 2 min walk to Nashville General Hospital/Meharry Medical College, 7 minute drive to Vanderbilt campus. SOLD AS IS. Please confirm square feet for yourself.

26. 2021-12-23
    historical Active Under Contract 506-char remark

    Show marketing remark (506 chars)

    Excellent Rehab Opportunity . Awesome view of downtown Nashville from the front porch! This cinder block structure has renovation potential! Walk-Out Basement. House is surrounded by new high-end luxury homes and condos. Walk or cycle to downtown. WeGo Public Transit passes in front of the house, 2 min drive ti I-40, I-440, I-65 & Briley Pkwy, 2 min walk to Nashville General Hospital/Meharry Medical College, 7 minute drive to Vanderbilt campus. SOLD AS IS. Please confirm square feet for yourself.

27. 2021-12-19
    listed $255,900 Active 506-char remark

    Show marketing remark (506 chars)

    Excellent Rehab Opportunity . Awesome view of downtown Nashville from the front porch! This cinder block structure has renovation potential! Walk-Out Basement. House is surrounded by new high-end luxury homes and condos. Walk or cycle to downtown. WeGo Public Transit passes in front of the house, 2 min drive ti I-40, I-440, I-65 & Briley Pkwy, 2 min walk to Nashville General Hospital/Meharry Medical College, 7 minute drive to Vanderbilt campus. SOLD AS IS. Please confirm square feet for yourself.

28. 2021-09-23
    soldstatus $235,000
29. 2021-09-21
    soldstatus $235,000 Closed
30. 2021-09-09
    status Pending
31. 2021-08-24
    price $250,000
32. 2021-08-02
    price $280,000
33. 2021-08-02
    status Active
34. 2021-07-26
    status Pending
35. 2021-06-29
    listed $350,000 Active

ⓘ 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: $2,201 · $183/mo
• Projected year-2 tax: $2,201 · $183/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 · 20 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: $23,525
• − Mortgage interest: −$10,637
• − Property taxes: −$2,201
• − Insurance: −$950
• − Repairs & maintenance: −$1,882
• − Management: −$1,882
• − Depreciation: −$5,524
• Taxable income: $449
• Est. tax owed @ 24.0%: −$108
• After-tax cash flow: $3,376/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): 20,889
• Household income: $65,556
• Rent vs Own: 67.0% rent · 33.0% own
• Severe rent burden: 1432.0

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 0.56)
• Race & ethnicity: Black 57% White 34% Two or more races 4% Hispanic / Latino 3% Asian 1%
• Common ancestry: Romanian 2% Slovak 2% Hispanic 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 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: ▼ -59.14%
• Current HPI: 410.2214
• Rent YoY: ▲ 2.15%
• 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

-45.7% since first listed

19 events — show timeline

• 2026-05-07 Listed $189,900 REALTRACS as Distributed by MLS Grid
• 2023-06-08 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2023-06-08 Relisted — REALTRACS as Distributed by MLS Grid
• 2023-04-14 Relisted — REALTRACS as Distributed by MLS Grid
• 2023-04-14 Price Changed $247,400 REALTRACS as Distributed by MLS Grid
• 2023-03-24 Pending — REALTRACS as Distributed by MLS Grid
• 2023-03-20 Listed $249,900 REALTRACS as Distributed by MLS Grid
• 2022-01-31 Sold (Public Records) $255,900 Public Records
• 2022-01-19 Sold (MLS) $255,900 REALTRACS as Distributed by MLS Grid
• 2021-12-23 Contingent — REALTRACS as Distributed by MLS Grid
• 2021-12-19 Listed $255,900 REALTRACS as Distributed by MLS Grid
• 2021-09-23 Sold (Public Records) $235,000 Public Records
• 2021-09-21 Sold (MLS) $235,000 REALTRACS as Distributed by MLS Grid
• 2021-09-09 Pending — REALTRACS as Distributed by MLS Grid
• 2021-08-24 Price Changed $250,000 REALTRACS as Distributed by MLS Grid
• 2021-08-02 Price Changed $280,000 REALTRACS as Distributed by MLS Grid
• 2021-08-02 Relisted — REALTRACS as Distributed by MLS Grid
• 2021-07-26 Pending — REALTRACS as Distributed by MLS Grid
• 2021-06-29 Listed $350,000 REALTRACS as Distributed by MLS Grid

Property tax history

+14.8%/yr

Latest (2025): $2,201 · +59.3% YoY. Source: county tax records.