1214 Katie Ave · Nashville-Davidson metropolitan government (balance), TN 37207

$369,500

4 bd · 2.0 ba · 1,323 sqft · MultiFamily public records · 17 Days on market

Built 1981 6,950 sqft lot Est $392k · 6% under

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Why this score? — see what drove the B- 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 +29.7/30.0
• DSCR +10.0/10.0
• ARV discount +10.0/15.0
• 1% rule +7.9/10.0
• Rent growth +2.8/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Charming duplex with strong rental history in one of Nashville's most sought after pockets. Codes confirmed — Lot can be split to create an HPR in the back if the duplex is converted to single family -unlocking serious value-add potential. Great opportunity for an investor looking to maximize returns or an owner-occupant ready to offset carrying costs.

Key facts

• Lot can be split
• 6,950 sq ft lot
• Built 1981

Tags

• LOT CAN BE SPLIT
• SERIOUS VALUE-ADD POTENTIAL

Property features AI

Finance

• Other: Zoning: RS5
• Financial info: Gross income reported: $2,600; Net operating income reported: $2,340; Owner pays: None; Tenants pay gas and water
• HOA & community:

Exterior

• Parking: No covered spaces reported; No parking total reported
• Security:
• Utilities: Public water; Public sewer; Water available
• Home design: Duplex; One story; Attached property
• Construction: Stucco exterior; Existing structure
• Exterior features: Lot approximately 50 x 139

Interior

• Kitchen:
• Bedrooms: Two 2-bedroom units (each unit is 2 bedrooms)
• Flooring: Carpet; Vinyl
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: Carpet and vinyl flooring
• Laundry & utility: Individual (in-unit) laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $370k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $370k).
• Recommended offer: $364k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.7% 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 B — 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: Shwab Elementary (math 12% / reading 12%, grade F, #786 of 952 statewide, top 84%, 337 students, 0% FRL); Maplewood High (math 2% / reading 12%, grade F, #294 of 332 statewide, top 91%, 691 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 (+1.3%/yr); 535 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $4,767/mo this rent would consume 93% of the median local household income ($62k/yr) (locally 1969% 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.
• At projected returns (-3.0% appreciation + 1.3% rent growth), your $103k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($364k) is reasonable based on typical stale-listing flexibility.

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 $363,957 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.29% ✓
• Cap rate: 10.66%
• Cash-on-cash: 15.59%
• DSCR: 1.69
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $391,608
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1214 Katie Ave	0.00mi	4/2.0	1,323 (0%)	1mo	$375,000	$283	99
203 Gatewood Ave	0.72mi	4/—	1,377 (+4%)	9mo	$408,200	$296	53

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 · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 4.5%
• Equity multiple: 1.17×
• Total profit: $17,837
• Equity at exit: $55,094

10-year hold

• IRR: 12.5%
• Equity multiple: 1.91×
• Total profit: $94,456
• Equity at exit: $31,948

Cash invested: $103,460 (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 37207

• Home prices YoY: -27.8%
• Rents YoY: 1.3%
• Active inventory: 535
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $4,767 high
• Mortgage (P&I): −$1,938
• Tax from tax record: −$330 /mo · $3,963/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,001
• Net cashflow: $1,344

Break-even live

Break-even rent $3,066

Max offer price $369,500

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,768
Total (2 units)			$4,767

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: $92,375
• Closing costs: $11,085
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
64 Fern Ave Nashville, TN	3.0	2.5	1468	$3,149	$2.15	1d	1	0.24mi
5515 Scruggs Ln Nashville, TN	2.0–3.0	2.0	1128	$1,799	$1.59	2d	42	0.42mi
1221 Joseph Ave Nashville, TN	3.0	2.5	1600	$2,800	$1.75	21d	1	0.60mi
1112 Joseph Ave Unit A Nashville, TN	3.0	2.0	1224	$2,800	$2.29	4d	1	0.66mi
1205 Meridian St Nashville, TN	3.0	2.0	1152	$2,100	$1.82	7d	1	0.82mi
2316 Woodridge Dr Nashville, TN	3.0	1.0	950	$1,595	$1.68	23d	1	0.95mi
310 Evanston Ave Nashville, TN	3.0	2.5	1770	$2,850	$1.61	14d	1	0.95mi
105 Duke St #9 Nashville, TN	3.0	2.5	1631	$3,300	$2.02	23d	1	1.02mi
1806 Lischey Ave #1 Nashville, TN	3.0	3.0	1800	$4,800	$2.67	23d	1	1.07mi
1806 Lischey Ave #3 Nashville, TN	3.0	3.0	1800	$2,895	$1.61	23d	1	1.07mi
229 Duke St Nashville, TN	3.0	3.0	1751	$3,150	$1.80	23d	1	1.14mi
712 Meridian St Nashville, TN	3.0	1.0	1065	$2,100	$1.97	23d	1	1.17mi
1018 N 6th St Nashville, TN	3.0	2.0	1476	$2,995	$2.03	13d	1	1.19mi
1018 N 6th St Nashville, TN	3.0	2.0	1476	$2,995	$2.03	14d	1	1.19mi
1804 5th Ave N Nashville, TN	3.0	2.0	1480	$3,900	$2.64	23d	1	1.22mi
315 Grace St Nashville, TN	3.0	1.0	1200	$1,800	$1.50	23d	1	1.27mi
315 Grace St Nashville, TN	3.0	1.0	1200	$1,995	$1.66	7d	1	1.27mi
203 Treutland Ave Unit A Nashville, TN	4.0	2.0	1476	$2,195	$1.49	20d	1	1.30mi
2323 Ilolo St Unit 1 Nashville, TN	3.0	1.5	1116	$1,995	$1.79	23d	1	1.32mi
1401 3rd Ave N Nashville, TN	3.0	1.0–2.0	973	$3,683	$3.79	1d	24	1.33mi
2628 Old Matthews Rd Nashville, TN	4.0	1.5	1584	$2,185	$1.38	20d	1	1.33mi
128 Gordon Ter Nashville, TN	3.0	2.0	1400	$2,600	$1.86	10d	1	1.37mi
377 Athens Way Nashville, TN	1.0–3.0	1.0–2.0	897	$2,373	$2.64	1d	13	1.38mi
862 W Sharpe Ave #4 Nashville, TN	3.0	3.5	1646	$2,895	$1.76	23d	1	1.39mi

Listing history 7 events

1. 2026-05-01
   status Pending
2. 2026-04-23
   price $369,500
3. 2026-04-14
   listed $389,700 Active
4. 2026-04-07
   soldstatus $340,000
5. 2006-09-19
   soldstatus $69,200
6. 2006-07-26
   soldstatus $69,200
7. 1985-07-01
   soldstatus $25,000

ⓘ 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: $3,963 · $330/mo
• Projected year-2 tax: $3,963 · $330/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 5/10 Major 7 d/yr ≥106°F today · 20 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: $57,204
• − Mortgage interest: −$20,698
• − Property taxes: −$3,963
• − Insurance: −$1,848
• − Repairs & maintenance: −$4,576
• − Management: −$4,576
• − Depreciation: −$10,749
• Taxable income: $10,794
• Est. tax owed @ 24.0%: −$2,591
• After-tax cash flow: $13,538/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): 41,366
• Household income: $61,744
• Rent vs Own: 44.3% rent · 55.7% own
• Severe rent burden: 1969.0

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 0.60)
• Race & ethnicity: Black 57% White 24% Hispanic / Latino 13% Two or more races 8%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Serbian 1% Romanian 1%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 88% English-only · Spanish 10%

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: ▼ -135.21%
• Current HPI: 351.9628
• Rent YoY: ▲ 1.33%
• 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

+1378.0% since first listed

7 events — show timeline

• 2026-05-01 Pending — REALTRACS as Distributed by MLS Grid
• 2026-04-23 Price Changed $369,500 REALTRACS as Distributed by MLS Grid
• 2026-04-14 Listed $389,700 REALTRACS as Distributed by MLS Grid
• 2026-04-07 Sold (Public Records) $340,000 Public Records
• 2006-09-19 Sold (Public Records) $69,200 Public Records
• 2006-07-26 Sold (Public Records) $69,200 Public Records
• 1985-07-01 Sold (Public Records) $25,000 Public Records

Property tax history

+14.3%/yr

Latest (2025): $3,963 · +83.3% YoY. Source: county tax records.