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Listed by Edward Klem • Coldwell Banker Southern Realty
$ 390,000
Est. payment /mo
New
208A E Palestine Ave Madison, TN 37115
1,612 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 1,612 sqft
Price per Sqft $241
Subdivision Bailey
MLS Listing ID 3542967
HOA Y/N false
Year Built 1983
Annual Tax Amount $3,522
Lot Dimensions 50 X 169
Property Description
Public Remarks: Excellent opportunity to add a strong income-producing duplex to your investment portfolio in the growing Madison market! Priced at $390,000, this updated property offers two separately metered units, each featuring two bedrooms, one full bath, a fireplace, washer and dryer connections, and refreshed interiors designed for comfortable, low-maintenance living.
Current rents range from approximately $1,350 to $1,550 per unit, providing combined potential gross rental income of $32,400 to $37,200 annually. With reported annual expenses below $7,500, the property offers an attractive income profile with additional upside as area rents continue to strengthen. Separate water and sewer meters help simplify management by allowing tenants to be responsible for their individual usage.
The location adds even more value—less than eight miles from downtown Nashville and only minutes from the Grand Ole Opry, Opry Mills, shopping, dining and major commuter routes. Madison is also experiencing significant new investment, including the planned Madison Station mixed-use development featuring new residences, retail, office space, childcare and community gathering areas.
Whether you are expanding an established portfolio or purchasing your first multifamily property, this duplex combines updated interiors, desirable individual-unit features, separate utilities and a convenient Nashville-area location. Opportunities offering this combination of price, income and long-term neighborhood potential are increasingly difficult to find.
Buyer and buyer's agent to verify all property information, rents, expenses, measurements, development plans and other information deemed important.
Current rents range from approximately $1,350 to $1,550 per unit, providing combined potential gross rental income of $32,400 to $37,200 annually. With reported annual expenses below $7,500, the property offers an attractive income profile with additional upside as area rents continue to strengthen. Separate water and sewer meters help simplify management by allowing tenants to be responsible for their individual usage.
The location adds even more value—less than eight miles from downtown Nashville and only minutes from the Grand Ole Opry, Opry Mills, shopping, dining and major commuter routes. Madison is also experiencing significant new investment, including the planned Madison Station mixed-use development featuring new residences, retail, office space, childcare and community gathering areas.
Whether you are expanding an established portfolio or purchasing your first multifamily property, this duplex combines updated interiors, desirable individual-unit features, separate utilities and a convenient Nashville-area location. Opportunities offering this combination of price, income and long-term neighborhood potential are increasingly difficult to find.
Buyer and buyer's agent to verify all property information, rents, expenses, measurements, development plans and other information deemed important.
Location
State TN
County Davidson County
Zoning Multi
Interior
Heating Baseboard
Cooling Wall/Window Unit(s)
Flooring Laminate
Fireplace N
Exterior
Utilities Available Water Available
View Y/N true
View City
Roof Type Shingle
Private Pool false
Building
Story 2
Sewer Public Sewer
Water Public
Structure Type Brick,Frame
New Construction false
Schools
Elementary Schools Stratton Elementary
Middle Schools Madison Middle
High Schools Hunters Lane Comp High School