924A Marina St · Nashville-Davidson metropolitan government (balance), TN 37206

$420,000

4 bd · 4.0 ba · 1,104 sqft · MultiFamily · 21 Days on market

Built 1930 Fair condition

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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 +15.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• 1% rule +4.3/10.0
• Rent growth +2.9/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• 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

Attention first-time buyers and investors! If you are looking for an amazing location while working within a reasonable budget, this one is for you. Although it needs plenty of work, savvy first-time buyers will find an opportunity to live in one side and rent out the other. Make improvements as you go to raise the rent and increase the value. Investors, this one has been continuously used as a duplex and has the potential for two separate units (non-shared wall) going back on the lot. Buyer to do due diligence. This is not in a historic overlay! Each side has living room, one bedroom, one full bath, kitchen, and laundry hookups on the back porch.

Key facts

• Built 1930
• Listed 21 days

Property features AI

Finance

• Other: Zoning: Duplex
• Financial info: Owner pays: none; Tenant pays electricity and gas; Gross income listed as $1

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Duplex (residential income property); Attached property; One story
• Construction: Wood siding; Asphalt roof
• Exterior features: Public water; Public sewer; Natural gas available; Water available

Interior

• Bedrooms: Two 1-bedroom units
• Flooring: Wood flooring; Tile flooring
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Wood and tile flooring; Central air conditioning; Natural gas heating
• Laundry & utility: Individual laundry hookups with electric dryer hookup and washer hookup

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $420k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive. Per door: $86/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $389k (7.3% below list).
• Recommended offer: $389k (7.3% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: Ida B. Wells Elementary (math 2% / reading 2%, grade F, #926 of 952 statewide, top 100%, 218 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 (+1.5%/yr); 287 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,873 units permitted in Davidson County in 2024 (4,138 in 5+ unit buildings).
• At $3,893/mo this rent would consume 49% of the median local household income ($96k/yr) (locally 1317% 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 $13k 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 21 days — a 2% lower offer ($414k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $389,300 (7.3% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.93% ✗
• Cap rate: 6.79%
• Cash-on-cash: 1.76%
• DSCR: 1.08
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.53% rent growth · sell at horizon

5-year hold

• IRR: -15.1%
• Equity multiple: 0.47×
• Total profit: $-62,660
• Equity at exit: $62,623

10-year hold

• IRR: -9.2%
• Equity multiple: 0.47×
• Total profit: $-62,750
• Equity at exit: $36,314

Cash invested: $117,600 (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 37206

• Rents YoY: 1.5%
• Active inventory: 287
• Price-to-rent: 18.0×

Monthly cashflow live

• Estimated rent: $3,893 high
• Mortgage (P&I): −$2,203
• Tax est. 1.5%: −$525 /mo · $6,300/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$818
• Net cashflow: $173

Break-even live

Break-even rent $3,674

Max offer price $420,000

Occupancy floor 91%

Sensitivity live

Price	-10% $463	-5% $318	+0% $173	+5% $28	+10% $-117
Rent	-10% $-135	-5% $19	+0% $173	+5% $327	+10% $480
Rate	-1.0pp $384	-0.5pp $280	base $173	+0.5pp $64	+1.0pp $-47

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,894
Total (2 units)			$3,893

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: $105,000
• Closing costs: $12,600
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
111 N 9th St Unit 1312373P Nashville, TN	3.0	3.5	1496	$5,487	$3.67	3d	1	0.13mi
315 Grace St Nashville, TN	3.0	1.0	1200	$1,800	$1.50	24d	1	0.65mi
315 Grace St Nashville, TN	3.0	1.0	1200	$1,995	$1.66	8d	1	0.65mi
1018 N 6th St Nashville, TN	3.0	2.0	1476	$2,995	$2.03	14d	1	0.72mi
1018 N 6th St Nashville, TN	3.0	2.0	1476	$2,995	$2.03	15d	1	0.72mi
712 Meridian St Nashville, TN	3.0	1.0	1065	$2,100	$1.97	24d	1	0.76mi
203 Treutland Ave Unit A Nashville, TN	4.0	2.0	1476	$2,195	$1.49	21d	1	0.86mi
1205 Meridian St Nashville, TN	3.0	2.0	1152	$2,100	$1.82	8d	1	1.06mi
802 S 6th St Nashville, TN	1.0–3.0	1.0–2.0	1043	$1,751	$1.68	15d	6	1.08mi
607 Lenore St Nashville, TN	1.0–3.0	1.0–2.0	1248	$1,967	$1.58	3d	3	1.10mi
1112 Joseph Ave Unit A Nashville, TN	3.0	2.0	1224	$2,800	$2.29	5d	1	1.17mi
2424 Inga St Nashville, TN	3.0	2.0	1440	$2,495	$1.73	17d	1	1.17mi
927 Chickasaw Ave Nashville, TN	3.0	2.0	1223	$2,600	$2.13	18d	1	1.40mi
1002 Fairwin Ave Nashville, TN	3.0	2.0	1437	$3,300	$2.30	24d	1	1.45mi
1002 Fairwin Ave Unit 1 Nashville, TN	4.0	2.0	1442	$3,300	$2.29	24d	1	1.45mi

Listing history 3 events

1. 2026-05-23
   status Pending
2. 2026-05-18
   historical Active Under Contract
3. 2026-05-02
   listed $420,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°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: $46,716
• − Mortgage interest: −$23,527
• − Property taxes: −$6,300
• − Insurance: −$2,100
• − Repairs & maintenance: −$3,737
• − Management: −$3,737
• − Depreciation: −$12,218
• Taxable loss: −$4,903
• Est. tax savings @ 24.0%: +$1,177
• After-tax cash flow: $3,252/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This property requires moderate renovations to improve its condition and increase its value. Key areas for improvement include appliances, flooring, paint, siding, windows, HVAC, and landscaping.

Repairs flagged

• Major Appliances — Older and worn
• Major Countertops — Worn and outdated
• Major Fixtures — Old and dated
• Major Flooring — Worn and in need of replacement
• Major Paint — Worn and peeling
• Major Siding — Worn and peeling
• Major Windows — Old and in need of replacement
• Major HVAC — Older units
• Major Landscaping — Overgrown and unkempt

Value-add opportunities

• Both New flooring — Improves both appearance and functionality
• Both New appliances — Enhances both resale and rental appeal
• Both New paint — Enhances both appearance and functionality
• Both New windows — Enhances both appearance and functionality
• Both New HVAC — Enhances both appearance and functionality
• Both Landscaping — Enhances both appearance and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
Appliances · Older and worn	Major	$15,000–50,000
Countertops · Worn and outdated	Major	$15,000–50,000
Fixtures · Old and dated	Major	$15,000–50,000
Flooring · Worn and in need of replacement	Major	$15,000–50,000
Paint · Worn and peeling	Major	$15,000–50,000
Siding · Worn and peeling	Major	$15,000–50,000
Windows · Old and in need of replacement	Major	$15,000–50,000
HVAC · Older units	Major	$15,000–50,000
Landscaping · Overgrown and unkempt	Major	$15,000–50,000
Total estimated repair cost · 9 items		$135,000–450,000

Value-add ROI direction

• Both New flooring — Improves both appearance and functionality ↑
• Both New appliances — Enhances both resale and rental appeal ↑
• Both New paint — Enhances both appearance and functionality ↑
• Both New windows — Enhances both appearance and functionality ↑
• Both New HVAC — Enhances both appearance and functionality ↑
• Both Landscaping — Enhances both appearance and functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 28,545
• Household income: $96,169
• Rent vs Own: 49.8% rent · 50.2% own
• Severe rent burden: 1317.0

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: White 60% Black 28% Two or more races 8% Hispanic / Latino 5% Asian 1%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 3% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 3% French/Haitian/Cajun 1% Korean 0%

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: ▼ -480.55%
• Current HPI: 500.0973
• Rent YoY: ▲ 1.53%
• 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

3 events — show timeline

• 2026-05-23 Pending — REALTRACS as Distributed by MLS Grid
• 2026-05-18 Contingent — REALTRACS as Distributed by MLS Grid
• 2026-05-02 Listed $420,000 REALTRACS as Distributed by MLS Grid