206A E Palestine Ave · Nashville-Davidson metropolitan government (balance), TN 37115

$390,000

4 bd · 2.0 ba · 1,612 sqft · MultiFamily · 67 Days on market

Built 1983 Good condition 8,450 sqft lot Est $379k · at est.

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +6.2/15.0
• Condition / age +4.0/5.0
• Livability +2.5/5.0
• Rent growth +2.3/5.0
• 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

Public Remarks: 10 full units completely rented and always rented. This is investors dream with instant revenue stream. Currently posting a NOI over $133k per year and that will only increase. Some rents under market and 2 units increasing rent by $248 per month. All of this with super low expenses as all units on separate utility meters. All units are 2-bedroom 1 bath units and recently remodeled as well. Each unit features a wood burning fireplace and believe it or not, washer and dryer inside the unit as well. Great setup to properties as occupants have either a downstairs patio or second floor deck. Owner recently replaced roofs plus finished other repairs and updates for this sale. L

Key facts

• Recently remodeled
• Downstairs patio
• Washer and dryer

Tags

• SEPARATE UTILITY METERS
• WOOD BURNING FIREPLACE
• WASHER AND DRYER
• DOWNSTAIRS PATIO
• SECOND FLOOR DECK
• RECENTLY REMODELED

Property features AI

Finance

• Financial info: Gross income approximately $163,260; Net operating income approximately $133,730; Tenants pay cable TV, electricity, trash collection, and water; Owner pays none of the listed tenant expenses

Exterior

• Parking: Driveway parking; Asphalt parking surface
• Utilities: Public water; Public sewer; Water available
• Home design: Residential income property; Attached property; Duplex; One level
• Construction: Brick and frame construction; Shingle roof; Existing structure
• Exterior features: Asphalt driveway; 50 x 169 lot dimensions; Lot measured in acres

Interior

• Bedrooms: Two 2-bedroom units
• Flooring: Laminate
• Bathrooms: Two 1-bath units
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: Laminate flooring; Has heating (baseboard); Has cooling (wall/window unit(s)); Has view
• Laundry & utility: Individual laundry; Electric dryer hookup; Washer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $390k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $8k ($99k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $390k).
• Recommended offer: $367k (6.0% below list) — sets the bar for market timing.
• Cap rate 31.6% 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: Stratton Elementary (math 2% / reading 8%, grade F, #896 of 952 statewide, top 96%, 474 students, 0% FRL); Hunters Lane High (math 0% / reading 8%, grade F, #321 of 332 statewide, top 97%, 1,466 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 (-0.9%/yr); 330 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $13,833/mo this rent would consume 304% of the median local household income ($55k/yr) (locally 2759% 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 $12k 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 + 0.0% rent growth), your $109k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($367k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $366,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 3.55% ✓
• Cap rate: 31.62%
• Cash-on-cash: 90.47%
• DSCR: 5.03
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $378,820
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
322 Emmitt Ave	0.29mi	4/2.0	1,575 (-2%)	9mo	$255,000	$162	76
809 Denson Ave	0.50mi	4/2.0	1,400 (-13%)	15mo	$385,000	$275	42
831 Gallavista Ave	0.34mi	4/2.0	1,374 (-15%)	23mo	$322,500	$235	40

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 87.7%
• Equity multiple: 4.85×
• Total profit: $420,829
• Equity at exit: $58,150

10-year hold

• IRR: 90.1%
• Equity multiple: 9.11×
• Total profit: $885,822
• Equity at exit: $33,720

Cash invested: $109,200 (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 37115

• Rents YoY: -0.9%
• Active inventory: 330
• Price-to-rent: 23.5×

Monthly cashflow live

• Estimated rent: $13,833 high
• Mortgage (P&I): −$2,045
• Tax est. 1.5%: −$488 /mo · $5,850/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,905
• Net cashflow: $8,233

Break-even live

Break-even rent $3,412

Max offer price $390,000

Occupancy floor 35%

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

Units	Beds	Baths	Est. rent
▸ 10× units	2	1	$13,830
Total (10 units)			$13,833

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: $97,500
• Closing costs: $11,700
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 E Palestine Ave Madison, TN	1.0–3.0	1.0–2.0	1097	$1,549	$1.41	2d	8	0.12mi
1132 Peter Pan St Madison, TN	4.0	3.0	1668	$2,695	$1.62	23d	1	0.31mi
766 Oakdell Ave Madison, TN	4.0	2.0	1528	$1,750	$1.15	23d	1	0.49mi
409 Barbara Dr Madison, TN	3.0	2.5	1849	$3,000	$1.62	17d	1	0.58mi
266 Neelys Bend Rd Madison, TN	3.0	2.0	1668	$2,600	$1.56	17d	1	0.60mi
101 Rothwood Ct Madison, TN	3.0	2.0	1100	$2,300	$2.09	17d	1	0.65mi
3128 Penn Meade Way Nashville, TN	3.0	2.0	1103	$2,300	$2.09	21d	1	0.68mi
3172 Penn Meade Way Nashville, TN	3.0	2.0	1103	$1,973	$1.79	23d	1	0.74mi
2141 Wooddale Ln Nashville, TN	3.0	2.5	1887	$2,750	$1.46	20d	1	0.74mi
600 Rothwood Ave Madison, TN	1.0–3.0	1.0–1.5	990	$1,500	$1.52	2d	8	0.77mi
2637 River Meade Way Nashville, TN	3.0	2.0	1244	$2,135	$1.72	12d	1	0.83mi
926 Idlewild Dr Madison, TN	3.0	2.0	1500	$2,500	$1.67	21d	1	0.84mi
3304 Penn Meade Way Nashville, TN	4.0	2.0	1852	$2,445	$1.32	2d	1	0.90mi
2773 River Bend Dr Nashville, TN	3.0	2.5	1400	$2,239	$1.60	16d	1	1.07mi
4904 Inglewood Ct Nashville, TN	4.0	2.0	1545	$2,000	$1.29	17d	1	1.20mi
720 Carmel Ave Madison, TN	3.0	2.0	1424	$2,100	$1.47	23d	1	1.20mi
4810 Gallatin Pike #301 Nashville, TN	3.0	3.0	1247	$3,250	$2.61	14d	1	1.22mi
1013 Chadwell Dr Madison, TN	3.0	2.0	1454	$2,325	$1.60	3d	1	1.23mi
2916 Delta Queen Dr Nashville, TN	3.0	2.0	1217	$2,600	$2.14	23d	1	1.24mi
96 Shields Ln Madison, TN	3.0	3.0	1613	$2,600	$1.61	16d	1	1.24mi
2712 River Bend Dr Nashville, TN	3.0	2.0	1075	$2,150	$2.00	4d	1	1.28mi
510 Heritage Dr Madison, TN	1.0–3.0	1.0–2.5	1097	$2,010	$1.83	2d	17	1.31mi
3348 Cain Harbor Dr Nashville, TN	3.0	2.5	1480	$2,300	$1.55	17d	1	1.42mi
4213 Longfellow Dr Nashville, TN	3.0	2.5	2069	$3,100	$1.50	23d	1	1.50mi

Listing history 19 events

1. 2026-06-18
   days on market $390,000 Active 67 DOM
2. 2026-06-17
   days on market $390,000 Active 66 DOM
3. 2026-06-16
   days on market $390,000 Active 65 DOM
4. 2026-06-15
   days on market $390,000 Active 64 DOM
5. 2026-06-13
   days on market $390,000 Active 62 DOM
6. 2026-06-13
   days on market $390,000 Active 61 DOM
7. 2026-06-09
   days on market $390,000 Active 58 DOM
8. 2026-06-08
   days on market $390,000 Active 57 DOM
9. 2026-06-07
   days on market $390,000 Active 56 DOM
10. 2026-06-05
    days on market $390,000 Active 53 DOM
11. 2026-06-03
    days on market $390,000 Active 52 DOM
12. 2026-06-02
    days on market $390,000 Active 51 DOM
13. 2026-06-01
    days on market $390,000 Active 50 DOM
14. 2026-05-31
    days on market $390,000 Active 49 DOM
15. 2026-04-12
    listed $390,000 Active
16. 2025-05-17
    historical $1,350
17. 2025-03-18
    listed $1,350
18. 2021-02-25
    historical
19. 2021-02-24
    listed $289,000 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% 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: $165,996
• − Mortgage interest: −$21,846
• − Property taxes: −$5,850
• − Insurance: −$1,950
• − Repairs & maintenance: −$13,280
• − Management: −$13,280
• − Depreciation: −$11,345
• Taxable income: $98,445
• Est. tax owed @ 24.0%: −$23,627
• After-tax cash flow: $75,168/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 · 13 photos

Good 80/100 Cosmetic rehab

This multi-family property is in good condition with no major repairs needed. It has a good exterior and interior condition, and the roof appears to be in good condition. The property is currently rented and posting a NOI over $133k per year. Painting the exterior siding and replacing the flooring and kitchen appliances would be the highest-ROI updates to increase its value.

Value-add opportunities

• Both Paint the exterior siding — Painting the exterior siding will improve the curb appeal and increase the resale and rental value of the property.
• Both Replace the flooring — Replacing the flooring with a more durable and attractive option will improve the overall appearance of the property and increase its value.
• Both Upgrade the kitchen appliances — Upgrading the kitchen appliances to more modern and energy-efficient models will improve the overall appearance of the property and increase its value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Painting the exterior siding will improve the curb appeal and increase the resale and rental value of the property. ↑
• Both Replace the flooring — Replacing the flooring with a more durable and attractive option will improve the overall appearance of the property and increase its value. ↑
• Both Upgrade the kitchen appliances — Upgrading the kitchen appliances to more modern and energy-efficient models will improve the overall appearance of the property and increase its 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): 40,615
• Household income: $54,566
• Rent vs Own: 56.7% rent · 43.3% own
• Severe rent burden: 2759.0

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 0.70)
• Race & ethnicity: White 37% Black 32% Hispanic / Latino 26% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 13% Cuban 2%
• Common ancestry: Serbian 1% Italian 1% Iranian 1%
• Foreign-born: 18% · Canada
• Languages at home: 74% English-only · Spanish 22% Tagalog/Filipino 1% Other Indo-European 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: ▼ -259.74%
• Current HPI: 341.9614
• Rent YoY: ▼ -0.94%
• 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

+34.9% since first listed

5 events — show timeline

• 2026-04-12 Listed $390,000 REALTRACS as Distributed by MLS Grid
• 2025-05-17 Rental Removed $1,350 REALTRACS
• 2025-03-18 Listed for Rent $1,350 REALTRACS
• 2021-02-25 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2021-02-24 Listed $289,000 REALTRACS as Distributed by MLS Grid