1007 Carolyn Ave · Nashville-Davidson metropolitan government (balance), TN 37216

$365,900

4 bd · 3.0 ba · 2,086 sqft · MultiFamily public records · 5 Days on market

Built 1934 10,018 sqft lot Est $561k · 35% 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 +29.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.1/10.0
• Rent growth +3.1/5.0
• 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

Exceptional opportunity in the heart of rapidly developing East Nashville. Property is currently configured as a duplex and is being sold strictly AS-IS, ideal for investors, builders, or experienced rehabbers. The existing structure needs a full gut renovation or possible teardown, with the current value primarily in the land. Zoned R6, allowing for higher-density residential development including one- and two-family construction. Strong potential to explore ADU addition, continued duplex use, or redevelopment into two new single-family homes (buyer to verify all zoning and development options). Surrounded by a wave of new construction and high-end redevelopment, this street has seen signi

Key facts

• 0.23 acre lot
• Built 1934
• Listed 5 days

Property features AI

Finance

• Other: Living area reported as about 2,086 square feet

Exterior

• Parking: No covered or marked parking spaces listed
• Utilities: Public water; Public sewer; Water service available
• Home design: Single-family residence; One story; Brick construction
• Construction: Brick exterior; Existing property (previously built)
• Exterior features: Lot approximately 0.23 acres; Lot dimensions about 60 x 175

Interior

• Kitchen: No appliances listed
• Bedrooms: 4 bedrooms (all on the main level)
• Flooring: Wood floors
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Unfinished basement; Wood flooring
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $366k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $366k).
• Cap rate 10.4% 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 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: Hattie Cotton Elementary (math 2% / reading 2%, grade F, #926 of 952 statewide, top 100%, 249 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 (+2.4%/yr); 226 active listings in the ZIP; 40 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 $4,430/mo this rent would consume 61% of the median local household income ($87k/yr) (locally 627% 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 + 2.4% rent growth), your $102k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $54k; list at $366k implies a 571% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1934 — 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 $365,900

Questions for the listing agent

1. Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.21% ✓
• Cap rate: 10.40%
• Cash-on-cash: 14.66%
• DSCR: 1.65
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $561,134
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1022 Granada Ave	0.71mi	4/2.0	1,970 (-6%)	14mo	$529,900	$269	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 · 2.38% rent growth · sell at horizon

5-year hold

• IRR: 4.5%
• Equity multiple: 1.17×
• Total profit: $17,546
• Equity at exit: $54,557

10-year hold

• IRR: 13.4%
• Equity multiple: 2.04×
• Total profit: $106,333
• Equity at exit: $31,636

Cash invested: $102,452 (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 37216

• Home prices YoY: -30.6%
• Rents YoY: 2.4%
• Active inventory: 226
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $4,430 high
• Mortgage (P&I): −$1,919
• Tax from tax record: −$177 /mo · $2,127/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$930
• Net cashflow: $1,251

Break-even live

Break-even rent $2,846

Max offer price $365,900

Occupancy floor 67%

Sensitivity live

Price	-10% $1,458	-5% $1,355	+0% $1,251	+5% $1,148	+10% $1,044
Rent	-10% $901	-5% $1,076	+0% $1,251	+5% $1,426	+10% $1,601
Rate	-1.0pp $1,435	-0.5pp $1,344	base $1,251	+0.5pp $1,156	+1.0pp $1,060

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,430
Total (2 units)			$4,430

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: $91,475
• Closing costs: $10,977
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1002 Fairwin Ave Nashville, TN	3.0	2.0	1437	$3,300	$2.30	24d	1	0.06mi
1002 Fairwin Ave Unit 1 Nashville, TN	4.0	2.0	1442	$3,300	$2.29	24d	1	0.06mi
947 Cahal Ave Nashville, TN	3.0	2.0	2123	$3,500	$1.65	24d	1	0.07mi
1004 Cahal Ave Nashville, TN	3.0	2.0	1829	$2,700	$1.48	13d	1	0.09mi
918C Delmas Ave Nashville, TN	5.0	3.0	2306	$3,400	$1.47	17d	1	0.18mi
915 Delmas Ave Unit B Nashville, TN	3.0	2.5	1888	$3,023	$1.60	8d	1	0.22mi
939 Spain Ave Nashville, TN	3.0	3.0	2178	$4,200	$1.93	5d	1	0.25mi
1003B Spain Ave Nashville, TN	3.0	3.0	1801	$2,723	$1.51	24d	1	0.26mi
1035 Chester Ave #2 Nashville, TN	3.0	3.0	1601	$2,950	$1.84	8d	1	0.26mi
921 Spain Ave Nashville, TN	4.0	3.0	1850	$3,250	$1.76	14d	1	0.27mi
917B Spain Ave Nashville, TN	3.0	3.0	1428	$2,450	$1.72	5d	1	0.27mi
1117 Chester Ave Unit A Nashville, TN	3.0	3.0	2147	$3,500	$1.63	24d	1	0.28mi
1121 Cahal Ave Nashville, TN	4.0	3.5	2000	$2,995	$1.50	4d	1	0.28mi
942 Strouse Ave Unit B Nashville, TN	3.0	2.5	1800	$2,800	$1.56	12d	1	0.32mi
2424 Inga St Nashville, TN	3.0	2.0	1440	$2,495	$1.73	17d	1	0.32mi
2810 Gear St Nashville, TN	3.0	5.5	2200	$3,250	$1.48	18d	1	0.34mi
1008 Dozier Pl Nashville, TN	3.0	2.5	1888	$2,795	$1.48	24d	1	0.34mi
1008B Dozier Pl Nashville, TN	3.0	2.5	1888	$2,795	$1.48	24d	1	0.35mi
901 Cherokee Ave Nashville, TN	3.0	1.0–2.0	1457	$3,563	$2.45	3d	12	0.39mi
1146 Cahal Ave Nashville, TN	3.0	3.0	2368	$3,500	$1.48	22d	1	0.41mi
808 Vibe Pl Unit 1492998P Nashville, TN	3.0	3.0	1517	$4,544	$3.00	3d	1	0.42mi
1111 McKennie Ave Unit A Nashville, TN	3.0	2.5	2101	$3,200	$1.52	24d	1	0.43mi
928 Thomas Ave Nashville, TN	3.0	2.5	2157	$4,500	$2.09	22d	1	0.53mi
1305 Greenwood Ave Nashville, TN	4.0	2.0	2545	$5,500	$2.16	12d	1	0.53mi
1078 Zophi St Unit A Nashville, TN	3.0	2.5	1890	$3,200	$1.69	24d	1	0.54mi
3060 Edwin Cir Nashville, TN	3.0	3.0	2070	$2,995	$1.45	5d	1	0.58mi
3060 Edwin Cir Nashville, TN	3.0	3.0	2070	$3,200	$1.55	18d	1	0.58mi
1114 Leland Ave Nashville, TN	4.0	3.5	2800	$5,300	$1.89	24d	1	0.59mi
1629 Chase St Nashville, TN	3.0	3.0	1908	$2,800	$1.47	8d	1	0.62mi
618 Cogdill Ln Nashville, TN	2.0–3.0	2.5–3.5	1857	$4,325	$2.33	4d	8	0.64mi
1114 McGavock Pike Unit B Nashville, TN	3.0	2.5	2043	$3,365	$1.65	3d	1	0.67mi
1114 McGavock Pike Unit A Nashville, TN	3.0	2.5	1844	$2,730	$1.48	3d	1	0.67mi
4 Belle Forrest Ave Nashville, TN	4.0	3.5	2508	$4,100	$1.63	4d	1	0.68mi
1302A Montgomery Ave Nashville, TN	3.0	3.5	1937	$2,773	$1.43	15d	1	0.69mi
738 Douglas Ave Unit 1051756P Nashville, TN	4.0	3.0	1969	$7,391	$3.75	17d	1	0.69mi
2308A Scott Ave Nashville, TN	3.0	2.5	2236	$3,000	$1.34	5d	1	0.69mi
2308 Scott Ave Nashville, TN	3.0	2.5	2236	$3,000	$1.34	5d	1	0.70mi
1712 Straightway Ave Nashville, TN	3.0	3.0	2500	$3,450	$1.38	18d	1	0.71mi
1016 Maynor Ave Unit A Nashville, TN	3.0	3.5	2264	$3,445	$1.52	21d	1	0.74mi
504 Edwin St #18 Nashville, TN	4.0	3.5	2002	$3,495	$1.75	4d	1	0.75mi

Listing history 4 events

1. 2026-05-22
   listed $365,900 Active
2. 2026-05-21
   historical $365,900
3. 1997-09-19
   soldstatus $54,500
4. 1983-06-01
   soldstatus $38,000

ⓘ 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: $2,127 · $177/mo
• Projected year-2 tax: $2,598 · $216/mo
• Expected delta: +$471/yr (+$39/mo · 22.2%)

ⓘ 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 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $53,160
• − Mortgage interest: −$20,496
• − Property taxes: −$2,127
• − Insurance: −$1,830
• − Repairs & maintenance: −$4,253
• − Management: −$4,253
• − Depreciation: −$10,644
• Taxable income: $9,558
• Est. tax owed @ 24.0%: −$2,294
• After-tax cash flow: $12,721/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): 19,038
• Household income: $86,701
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 627.0

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: Predominantly White (69%)
• Race & ethnicity: White 69% Black 16% Two or more races 9% Hispanic / Latino 7% Asian 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 3% Romanian 3% Serbian 3%
• Foreign-born: 6% · Canada
• Languages at home: 93% English-only · Spanish 5% Vietnamese 1% Other Asian/Pacific 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: ▼ -203.68%
• Current HPI: 461.6653
• Rent YoY: ▲ 2.38%
• 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

+862.9% since first listed

4 events — show timeline

• 2026-05-22 Listed $365,900 REALTRACS as Distributed by MLS Grid
• 2026-05-21 Coming Soon $365,900 REALTRACS as Distributed by MLS Grid
• 1997-09-19 Sold (Public Records) $54,500 Public Records
• 1983-06-01 Sold (Public Records) $38,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $2,127 · -3.3% YoY. Source: county tax records.