2405 Buchanan St · Nashville-Davidson metropolitan government (balance), TN 37208

$299,900

4 bd · 1.0 ba · 1,410 sqft · SingleFamily public records · 87 Days on market

Built 1930 7,840 sqft lot Est $406k · 26% under

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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 +17.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• 1% rule +3.8/10.0
• 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

Beautiful home located in the heart of North Nashville near Fisk University Slim & Husky. Lots of New Development taking place around the area. Great Investment! MUST SEE!! SHOWINGS ONLY ON THE WEEKENDS. SOLD AS IS

Key facts

• 7,840 sq ft lot
• Built 1930
• Listed 87 days

Property features AI

Finance

• Other: Air purifier

Exterior

• Parking: No covered spaces reported
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; Cable connected
• Home design: Single-family residence; Two levels; Vinyl siding
• Construction: Vinyl siding construction; Brick/mortar foundation; Existing (previously built)
• Exterior features: Covered porch; Full yard fencing; Level lot; Lot dimensions approx. 50 x 158

Interior

• Kitchen: Eat-in kitchen; Electric oven; Electric range
• Bedrooms: 2 bedrooms (1 on main level); Bedroom 1 approx. 14 x 9; Bedroom 2 approx. 25 x 19 with walk-in closet
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Central air (electric)
• Interior features: Air filter; Ceiling fans; High ceilings; Two fireplaces (den and living room)
• Laundry & utility: Washer hookup; Electric dryer hookup; Utility room (approx. 21 x 6)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $235 ($3k/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 $265k (11.7% below list).
• Recommended offer: $265k (11.7% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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: Robert Churchwell Elementary (math 2% / reading 2%, grade F, #926 of 952 statewide, top 100%, 289 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 22d on market — plan ~3-4 weeks tenant-placement turnaround); 6,873 units permitted in Davidson County in 2024 (4,138 in 5+ unit buildings).
• At $2,647/mo this rent would consume 48% of the median local household income ($66k/yr) (locally 1432% 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 $2k of loan paydown is wiped out by about $9k 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 87 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y 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 $77k; list at $300k implies a 289% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $264,743 (11.7% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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 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: 0.88% ✗
• Cap rate: 7.23%
• Cash-on-cash: 3.36%
• DSCR: 1.15
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $406,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2605 Deerfield Dr	0.34mi	3/2.0 (-1)	1,406 (-0%)	5mo	$385,000	$274	71
1842 25th Ave N	0.14mi	4/3.0	1,530 (+8%)	2mo	$455,000	$297	70
2707 Buchanan St	0.35mi	3/2.0 (-1)	1,408 (-0%)	7mo	$335,000	$238	68
2308 Saint Louis St	0.12mi	3/2.0 (-1)	1,273 (-10%)	7mo	$422,000	$332	64
1746 22nd Ave N	0.21mi	3/2.0 (-1)	1,250 (-11%)	4mo	$340,000	$272	58
1830 11th Ave N	0.66mi	3/1.0 (-1)	1,364 (-3%)	2mo	$299,999	$220	57
1725 Buchanan Ct	0.23mi	3/2.0 (-1)	1,224 (-13%)	2mo	$410,000	$335	56
2137 14th Ave N	0.62mi	3/2.5 (-1)	1,376 (-2%)	5mo	$379,900	$276	52
1923B 16th Ave N	0.33mi	3/2.5 (-1)	1,543 (+9%)	9mo	$445,000	$288	50
1931 14th Ave N	0.46mi	3/2.5 (-1)	1,240 (-12%)	1mo	$365,000	$294	46
1728 16th Ave N	0.48mi	3/2.0 (-1)	1,225 (-13%)	2mo	$325,000	$265	45
1806 15th Ave N Unit A	0.43mi	3/2.0 (-1)	1,230 (-13%)	9mo	$359,900	$293	42

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: -11.9%
• Equity multiple: 0.57×
• Total profit: $-35,968
• Equity at exit: $44,716

10-year hold

• IRR: -4.0%
• Equity multiple: 0.74×
• Total profit: $-21,483
• Equity at exit: $25,930

Cash invested: $83,972 (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: 9.4×

Monthly cashflow live

• Estimated rent: $2,647 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$159 /mo · $1,906/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$556
• Net cashflow: $235

Break-even live

Break-even rent $2,350

Max offer price $299,900

Occupancy floor 86%

Sensitivity live

Price	-10% $405	-5% $320	+0% $235	+5% $150	+10% $65
Rent	-10% $26	-5% $130	+0% $235	+5% $340	+10% $444
Rate	-1.0pp $386	-0.5pp $311	base $235	+0.5pp $157	+1.0pp $78

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2400 Buchanan St Unit B Nashville, TN	3.0	3.0	1398	$2,600	$1.86	6d	1	0.04mi
2400 Buchanan St Nashville, TN	3.0	3.0	1398	$2,600	$1.86	25d	1	0.04mi
2505 Jenkins St Nashville, TN	3.0	1.0	875	$1,800	$2.06	22d	1	0.15mi
1706 23rd Ave N Nashville, TN	3.0	2.0	1064	$1,600	$1.50	4d	1	0.23mi
2003 26th Ave N Nashville, TN	3.0	2.0	1691	$2,850	$1.69	9d	1	0.29mi
2605 Aspen Dr Nashville, TN	3.0	2.0	1236	$2,400	$1.94	9d	1	0.32mi
1615 23rd Ave N Nashville, TN	3.0	2.0	1316	$1,750	$1.33	16d	1	0.32mi
2004 Salem Mason Dr Nashville, TN	3.0	1.0	1133	$2,500	$2.21	25d	1	0.32mi
1905A 15th Ave N Nashville, TN	3.0	2.5	1669	$2,595	$1.55	16d	1	0.37mi
2122 24th Ave N Nashville, TN	3.0	3.5	1860	$2,400	$1.29	13d	1	0.42mi
1924 14th Ave N Unit A Nashville, TN	3.0	2.5	1820	$4,500	$2.47	25d	1	0.47mi
1522 22nd Ave N Nashville, TN	3.0	2.0	1350	$2,500	$1.85	6d	1	0.47mi
1522 22nd Ave N Nashville, TN	3.0	2.0	1350	$2,600	$1.93	25d	1	0.47mi
2306 Hammond Dr Nashville, TN	3.0	1.0	912	$1,595	$1.75	25d	1	0.48mi
2133 24th Ave N Unit 1051710P Nashville, TN	4.0	4.0	1776	$5,718	$3.22	4d	1	0.48mi
1727 14th Ave N Nashville, TN	4.0	2.0	1326	$1,995	$1.50	25d	1	0.49mi
1515B 21st Ave N Nashville, TN	3.0	3.0	1757	$2,595	$1.48	25d	1	0.53mi
2017 12th Ave N Unit B Nashville, TN	3.0	2.5	1668	$3,000	$1.80	19d	1	0.55mi
1605 Dr Db Todd Jr Blvd Nashville, TN	5.0	2.5	1667	$2,425	$1.45	25d	1	0.57mi
1608 16th Ave N Nashville, TN	4.0	3.0	1811	$3,295	$1.82	19d	1	0.64mi
1618 14th Ave N Nashville, TN	3.0	2.0	1047	$2,700	$2.58	17d	1	0.65mi
1732 Kellow St Nashville, TN	4.0	3.0	1800	$3,200	$1.78	25d	1	0.65mi
2224 24th Ave N Nashville, TN	3.0	3.0	1800	$2,799	$1.55	23d	1	0.66mi
1708 Underwood St Nashville, TN	3.0	2.0	1044	$1,500	$1.44	6d	1	0.66mi
1909 10th Ave N Unit A Nashville, TN	3.0	2.0	998	$1,950	$1.95	4d	1	0.68mi
1909 10th Ave N Unit B Nashville, TN	3.0	2.0	1137	$2,200	$1.93	13d	1	0.68mi
1909 10th Ave N Unit B Nashville, TN	3.0	2.0	1137	$2,200	$1.93	9d	1	0.68mi
1802 10th Ave N Nashville, TN	4.0	3.0	1553	$3,150	$2.03	25d	1	0.72mi
1708 10th Ave N Nashville, TN	3.0	2.0	1305	$2,350	$1.80	25d	1	0.79mi
2403B Middle St Nashville, TN	3.0	2.5	1492	$2,600	$1.74	25d	1	0.81mi
1523 12th Ave N Unit B Nashville, TN	3.0	2.0	1200	$1,200	$1.00	19d	1	0.82mi
1713 Heiman St Nashville, TN	3.0	2.5	1734	$2,500	$1.44	25d	1	0.82mi
1713 Heiman St Nashville, TN	3.0	2.5	1734	$2,500	$1.44	22d	1	0.82mi
1507B 14th Ave Nashville, TN	3.0	3.0	1800	$3,100	$1.72	16d	1	0.84mi
2404 Middle St Nashville, TN	3.0	2.5	1541	$2,495	$1.62	25d	1	0.84mi
2411A Middle St Nashville, TN	3.0	2.5	1854	$2,950	$1.59	4d	1	0.84mi
819 Buchanan St Nashville, TN	3.0	2.0	1500	$2,200	$1.47	25d	1	0.94mi
2333 Rosa L Parks Blvd Nashville, TN	1.0–3.0	1.0–2.0	885	$1,450	$1.64	25d	1	0.94mi
2314 Alameda St Nashville, TN	3.0	2.0	1180	$1,850	$1.57	12d	1	0.95mi
2314 Alameda St Nashville, TN	3.0	2.0	1180	$1,850	$1.57	25d	1	0.95mi

Listing history 16 events

1. 2026-06-07
   days on market $299,900 Active 87 DOM
2. 2026-06-05
   days on market $299,900 Active 84 DOM
3. 2026-06-03
   days on market $299,900 Active 83 DOM
4. 2026-06-02
   days on market $299,900 Active 82 DOM
5. 2026-06-01
   days on market $299,900 Active 81 DOM
6. 2026-05-31
   days on market $299,900 Active 80 DOM
7. 2026-04-29
   status Active
8. 2026-03-27
   status Active
9. 2026-03-05
   listed $299,900 Active
10. 2021-11-16
    historical
11. 2021-11-11
    status Active
12. 2021-10-27
    historical Active Under Contract
13. 2021-10-25
    listed $299,900 Active
14. 2021-02-22
    historical 220-char remark

    Show marketing remark (220 chars)

    Beautiful home located in the heart of North Nashville near Fisk University Slim & Husky. Lots of New Development taking place around the area. Great Investment! MUST SEE!! SHOWINGS ONLY ON THE WEEKENDS. SOLD AS IS

15. 2020-11-25
    listed $330,000 Active 220-char remark

    Show marketing remark (220 chars)

    Beautiful home located in the heart of North Nashville near Fisk University Slim & Husky. Lots of New Development taking place around the area. Great Investment! MUST SEE!! SHOWINGS ONLY ON THE WEEKENDS. SOLD AS IS

16. 2000-05-31
    soldstatus $77,000

ⓘ 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: $1,906 · $159/mo
• Projected year-2 tax: $2,129 · $177/mo
• Expected delta: +$224/yr (+$19/mo · 11.7%)

ⓘ 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: $31,769
• − Mortgage interest: −$16,799
• − Property taxes: −$1,906
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,542
• − Management: −$2,542
• − Depreciation: −$8,724
• Taxable loss: −$2,243
• Est. tax savings @ 24.0%: +$538
• After-tax cash flow: $3,358/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

+289.5% since first listed

10 events — show timeline

• 2026-04-29 Relisted — REALTRACS as Distributed by MLS Grid
• 2026-03-27 Relisted — REALTRACS as Distributed by MLS Grid
• 2026-03-05 Listed $299,900 REALTRACS as Distributed by MLS Grid
• 2021-11-16 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2021-11-11 Relisted — REALTRACS as Distributed by MLS Grid
• 2021-10-27 Contingent — REALTRACS as Distributed by MLS Grid
• 2021-10-25 Listed $299,900 REALTRACS as Distributed by MLS Grid
• 2021-02-22 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2020-11-25 Listed $330,000 REALTRACS as Distributed by MLS Grid
• 2000-05-31 Sold (Public Records) $77,000 Public Records

Property tax history

+10.9%/yr

Latest (2025): $1,906 · +24.8% YoY. Source: county tax records.