3505 Keller Ln #19 · Nashville-Davidson metropolitan government (balance), TN 37207

$520,200

3 bd · 2.5 ba · 2,096 sqft · MultiFamily · 16 Days on market

Built 2026 Excellent condition $204/mo HOA · 10% of rent

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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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Condition / age +4.8/5.0
• Rent growth +2.8/5.0
• Livability +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Experience a brand-new floor plan at Taylor with fully fenced yards and turf included!! You're not going to want to miss The Harper. This limited and largest floor plan in the community is designed for households who want modern comfort and everyday functionality without wasted space. With over 2,100 square feet across two thoughtfully planned stories, this home offers open-concept living, dining, and kitchen spaces that make everyday life and entertaining effortless. Upstairs, the private primary suite is separated from two generous secondary bedrooms by a full laundry room and shared bath-bringing both privacy and convenience. With a 2-car garage and plenty of storage throughout, the Harp

Key facts

• Fully fenced yards
• 2-car garage
• Open-concept living

Tags

• FULLY FENCED YARDS
• TURF INCLUDED
• OPEN-CONCEPT LIVING
• PRIVATE PRIMARY SUITE
• FULL LAUNDRY ROOM
• 2-CAR GARAGE

Property features AI

Finance

• Other: Address: 3505 Keller Ln #19, Nashville, TN 37207; Listing status: Active; List price: 520200
• HOA & community: Association fee of 204

Exterior

• Parking: 2 total parking spaces; 2-car garage
• Home design: Spec inventory, Plan name: The Harper
• Exterior features: Living area of 2,096

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms, 1 half bathroom
• Interior features: 3 bedrooms; 2.5 bathrooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath multifamily listed at $520k. Condition is rated excellent.

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 ($6k rent vs $520k).
• Recommended offer: $512k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.1% 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.
• Market conditions: Rents rising (+1.3%/yr); 538 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $6,374/mo this rent would consume 124% 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 $4k of loan paydown is wiped out by about $16k 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 16 days — a 2% lower offer ($512k) is reasonable based on typical stale-listing flexibility.

Recommended offer $512,397 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.23% ✓
• Cap rate: 9.15%
• Cash-on-cash: 10.19%
• DSCR: 1.45
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.33% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-15,857
• Equity at exit: $77,564

10-year hold

• IRR: 4.7%
• Equity multiple: 1.32×
• Total profit: $46,694
• Equity at exit: $44,977

Cash invested: $145,656 (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: 538
• Price-to-rent: 20.4×

Monthly cashflow live

• Estimated rent: $6,374 medium
• Mortgage (P&I): −$2,728
• Tax est. 1.5%: −$650 /mo · $7,803/yr
• Insurance: −$217
• HOA: −$204
• Vacancy / Maint / Mgmt: −$1,339
• Net cashflow: $1,236

Break-even live

Break-even rent $4,809

Max offer price $520,200

Occupancy floor 76%

Sensitivity live

Price	-10% $1,596	-5% $1,416	+0% $1,236	+5% $1,057	+10% $877
Rent	-10% $733	-5% $985	+0% $1,236	+5% $1,488	+10% $1,740
Rate	-1.0pp $1,498	-0.5pp $1,369	base $1,236	+0.5pp $1,102	+1.0pp $965

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	2.5	$6,375
Total (3 units)			$6,374

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: $130,050
• Closing costs: $15,606
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
105 Hart Ln Unit D Nashville, TN	3.0	3.5	2135	$2,750	$1.29	24d	1	0.18mi
105 Hart Ln Unit F Nashville, TN	3.0	3.5	2408	$2,900	$1.20	24d	1	0.18mi
105 Hart Ln Unit B Nashville, TN	3.0	3.5	1825	$2,600	$1.42	5d	1	0.18mi
105 Hart Ln Unit E Nashville, TN	3.0	3.5	2256	$2,850	$1.26	24d	1	0.18mi
206 Ben Allen Rd #4 Nashville, TN	3.0	3.5	1947	$3,000	$1.54	5d	1	0.19mi
206 Ben Allen Rd #5 Nashville, TN	3.0	3.5	2015	$3,400	$1.69	24d	1	0.19mi
1100 Sunset Cir Nashville, TN	1.0–3.0	1.0–2.5	1070	$1,899	$1.77	4d	7	0.44mi
2718 Oakwood Ave Nashville, TN	4.0	2.0	1850	$2,595	$1.40	24d	1	0.49mi
2019 Maple View Ln Nashville, TN	3.0	3.5	1775	$2,850	$1.61	5d	1	0.68mi
128 Gordon Ter Nashville, TN	3.0	2.0	1400	$2,600	$1.86	11d	1	0.79mi
2079 Oakwood Ave Nashville, TN	2.0	2.5	1800	$2,500	$1.39	24d	1	0.92mi
330 E Village Ln Nashville, TN	3.0	3.5	1734	$2,999	$1.73	24d	1	0.98mi
229 Duke St Nashville, TN	3.0	3.0	1751	$3,150	$1.80	24d	1	1.06mi
300-B E Village Ln Nashville, TN	3.0	3.5	1735	$2,900	$1.67	24d	1	1.09mi
109 Duke St Unit E Nashville, TN	2.0	2.5	1400	$2,200	$1.57	24d	1	1.10mi
105 Duke St #9 Nashville, TN	3.0	2.5	1631	$3,300	$2.02	24d	1	1.11mi
105 Duke St #6 Nashville, TN	2.0	2.5	1536	$2,475	$1.61	13d	1	1.11mi
109 Duke St Unit B Nashville, TN	2.0	2.5	1400	$2,000	$1.43	24d	1	1.12mi
402B E Trinity Ln Nashville, TN	3.0	2.5	2425	$2,899	$1.20	24d	1	1.18mi
618 Cogdill Ln Nashville, TN	2.0–3.0	2.5–3.5	1857	$4,325	$2.33	4d	8	1.28mi
504 Edwin St #18 Nashville, TN	4.0	3.5	2002	$3,495	$1.75	24d	1	1.28mi
504 Edwin St #18 Nashville, TN	4.0	3.5	2002	$3,495	$1.75	4d	1	1.28mi
3060 Edwin Cir Nashville, TN	3.0	3.0	2070	$2,995	$1.45	5d	1	1.33mi
3060 Edwin Cir Nashville, TN	3.0	3.0	2070	$3,200	$1.55	18d	1	1.33mi
1806 Lischey Ave #3 Nashville, TN	3.0	3.0	1800	$2,895	$1.61	24d	1	1.34mi
1806 Lischey Ave #1 Nashville, TN	3.0	3.0	1800	$4,800	$2.67	24d	1	1.34mi
1020 W Kirkland Ave Unit D Nashville, TN	4.0	3.0	1998	$3,250	$1.63	24d	1	1.41mi
1701 Lischey Ave Nashville, TN	4.0	3.0	2385	$3,950	$1.66	24d	1	1.43mi
1699 Lischey Ave Nashville, TN	4.0	3.0	2385	$3,995	$1.68	24d	1	1.44mi
1016 Maynor Ave Unit A Nashville, TN	3.0	3.5	2264	$3,445	$1.52	21d	1	1.44mi
901 Cherokee Ave Nashville, TN	3.0	1.0–2.0	1457	$3,563	$2.45	3d	12	1.45mi
928 Thomas Ave Nashville, TN	3.0	2.5	2157	$4,500	$2.09	22d	1	1.45mi
2810 Gear St Nashville, TN	3.0	5.5	2200	$3,250	$1.48	18d	1	1.45mi

HOA detail

• Monthly dues: $204 · $2,448/yr

Listing history 1 events

1. 2026-05-31
   days on market $520,200 Active 16 DOM

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

Taxation est. · year 1

• Rental income: $76,488
• − Mortgage interest: −$29,139
• − Property taxes: −$7,803
• − Insurance: −$2,601
• − Repairs & maintenance: −$6,119
• − Management: −$6,119
• − HOA: −$2,448
• − Depreciation: −$15,133
• Taxable income: $7,126
• Est. tax owed @ 24.0%: −$1,710
• After-tax cash flow: $13,128/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 · 14 photos

Excellent 95/100 None rehab

This home is in excellent condition with a modern floor plan, well-maintained exterior, and a spacious layout. It is move-in ready and would benefit from minor updates to the exterior and interior to further enhance its appeal.

Value-add opportunities

• Resale Painting the exterior and interior walls — Fresh paint can enhance the home's curb appeal and make it more attractive to potential buyers.
• Resale Updating the flooring in the bathrooms — Upgrading the flooring in the bathrooms can improve the home's overall appearance and make it more appealing to potential buyers.
• Resale Upgrading the kitchen appliances — Modernizing the kitchen appliances can make the home more appealing to potential buyers and increase its resale value.

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior and interior walls — Fresh paint can enhance the home's curb appeal and make it more attractive to potential buyers. ↑
• Resale Updating the flooring in the bathrooms — Upgrading the flooring in the bathrooms can improve the home's overall appearance and make it more appealing to potential buyers. ↑
• Resale Upgrading the kitchen appliances — Modernizing the kitchen appliances can make the home more appealing to potential buyers and increase its resale value. ↑

ⓘ 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): 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