1212 Tulip Grove Rd · Nashville-Davidson metropolitan government (balance), TN 37076

$369,000

4 bd · 3.0 ba · 2,552 sqft · MultiFamily public records · 88 Days on market

Built 1987 7,398 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 +23.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +5.6/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• 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: 2 units. confirmed

Listing remarks

Turnkey Duplex with long-term tenants who wish to remain. IMMEDIATE cash flow with historically low vacancy rates and strong rental demand. Each unit offers 3 bedrooms and 1.5 baths, private entrances, and parking. Units are separately metered, simplifying management and operating employment. Income-producing asset in a growing submarket. Great investment for new or seasoned investor seeking a stable, income-producing asset in Nashville's growing market. Long term tenants.

Key facts

• 7,398 sq ft lot
• 4 parking spots
• Built 1987

What this means for you Summary

Snapshot

• This is a 2 × 3.0-bed/1.5-bath units multifamily listed at $369k.

Deal economics

• At list price, monthly cash flow is $656 ($8k/yr) — positive. Per door: $328/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $369k).
• Recommended offer: $347k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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: Dupont Elementary (math 12% / reading 22%, grade F, #709 of 952 statewide, top 77%, 370 students, 0% FRL); Mcgavock High (math 2% / reading 9%, grade F, #308 of 332 statewide, top 93%, 2,098 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 (-2.4%/yr); 400 active listings in the ZIP; 10 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 $3,922/mo this rent would consume 63% of the median local household income ($75k/yr) (locally 2212% 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 $3k of loan paydown is wiped out by about $11k 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 88 days — a 6% lower offer ($347k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $43k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $220k; list at $369k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $346,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.06% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.62%
• DSCR: 1.34
• GRM: 7.8

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: -8.0%
• Equity multiple: 0.71×
• Total profit: $-29,534
• Equity at exit: $55,019

10-year hold

• IRR: -2.7%
• Equity multiple: 0.84×
• Total profit: $-16,391
• Equity at exit: $31,904

Cash invested: $103,320 (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 37076

• Home prices YoY: -32.7%
• Rents YoY: -2.4%
• Active inventory: 400
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $3,922 high
• Mortgage (P&I): −$1,935
• Tax from tax record: −$354 /mo · $4,246/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$824
• Net cashflow: $656

Break-even live

Break-even rent $3,092

Max offer price $369,000

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3.0	1.5	$3,922
Total (2 units)			$3,922

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: $92,250
• Closing costs: $11,070
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7422 Blue Gable Rd Hermitage, TN	5.0	3.0	2484	$2,960	$1.19	3d	1	0.22mi
7416 Blue Gable Rd Hermitage, TN	3.0	2.5	2143	$2,600	$1.21	24d	1	0.23mi
129 Hermitage Woods Dr Hermitage, TN	3.0	2.5	2134	$2,060	$0.97	8d	1	0.54mi
6182 N New Hope Rd Hermitage, TN	4.0	2.5	2619	$3,800	$1.45	21d	1	0.73mi
1133 Jacksons View Rd Hermitage, TN	4.0	2.0	2430	$2,480	$1.02	24d	1	0.80mi
215 Stoners Glen Ct Hermitage, TN	3.0	3.0	2378	$2,600	$1.09	24d	1	1.32mi
1508 Clover Ct Hermitage, TN	4.0	3.0	2454	$3,300	$1.34	12d	1	1.39mi
1508 Clover Ct Hermitage, TN	4.0	3.0	2454	$3,450	$1.41	21d	1	1.39mi
624 Stonebridge Ln Mount Juliet, TN	4.0	2.5	2215	$2,800	$1.26	11d	1	1.47mi
290 Cobblestone Lndg Mount Juliet, TN	5.0	4.0	2850	$3,095	$1.09	24d	1	1.48mi

Listing history 12 events

1. 2026-04-23
   status Pending
2. 2026-03-27
   price $369,000
3. 2026-01-27
   historical
4. 2026-01-24
   listed $412,000 Active
5. 2026-01-11
   listed $412,000 Active
6. 2022-06-10
   price $1,750
7. 2017-06-12
   soldstatus $220,000
8. 2008-01-04
   soldstatus $158,000
9. 2006-06-26
   soldstatus $120,000
10. 1999-12-28
    soldstatus $100,000
11. 1990-06-01
    soldstatus $148,000
12. 1987-11-01
    soldstatus $139,500

ⓘ 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: $4,246 · $354/mo
• Projected year-2 tax: $4,246 · $354/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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,064
• − Mortgage interest: −$20,670
• − Property taxes: −$4,246
• − Insurance: −$1,845
• − Repairs & maintenance: −$3,765
• − Management: −$3,765
• − Depreciation: −$10,735
• Taxable income: $2,038
• Est. tax owed @ 24.0%: −$489
• After-tax cash flow: $7,379/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): 39,017
• Household income: $74,663
• Rent vs Own: 48.1% rent · 51.9% own
• Severe rent burden: 2212.0

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 0.59)
• Race & ethnicity: White 58% Black 24% Hispanic / Latino 11% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Ukrainian 2% Slovak 2% Romanian 2%
• Foreign-born: 8% · Canada
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 2% Arabic 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: ▼ -136.08%
• Current HPI: 280.0384
• Rent YoY: ▼ -2.41%
• 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

+164.5% since first listed

12 events — show timeline

• 2026-04-23 Pending — REALTRACS as Distributed by MLS Grid
• 2026-03-27 Price Changed $369,000 REALTRACS as Distributed by MLS Grid
• 2026-01-27 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2026-01-24 Listed $412,000 REALTRACS as Distributed by MLS Grid
• 2026-01-11 Listed $412,000 REALTRACS as Distributed by MLS Grid
• 2022-06-10 Price Changed $1,750 RENT.
• 2017-06-12 Sold (Public Records) $220,000 Public Records
• 2008-01-04 Sold (Public Records) $158,000 Public Records
• 2006-06-26 Sold (Public Records) $120,000 Public Records
• 1999-12-28 Sold (Public Records) $100,000 Public Records
• 1990-06-01 Sold (Public Records) $148,000 Public Records
• 1987-11-01 Sold (Public Records) $139,500 Public Records

Property tax history

+11.0%/yr

Latest (2025): $4,246 · +27.2% YoY. Source: county tax records.