$390,000
UNDER CONTRACT

204A E Palestine Ave Madison, TN 37115

Heron Walk Neighborhood

Estimated payment $2,436/month

Total Views 2,581
4 Beds
2 Baths
1,612 Sq Ft
$242 Price per Sq Ft

Highlights

  • City View
  • Cooling System Mounted To A Wall/Window
  • Baseboard Heating
  • No HOA

About This Home

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. Less than 8 miles from downtown, 3 miles to Opry Mall and just seconds to new shopping district. Price is per each duplex! Please see other MLS numbers to include 202, 204, 206 adn 208 E Palestine. Other property ids include 051-08-0-204.00, 051-08-0-205.00, 051-08-0-206.00 and 051-08-0-207.00

Listing Agent

Edward Klem

Coldwell Banker Southern Realty Brokerage Phone: 6159471188 License #376759 Listed on: 04/11/2026

Coldwell Banker Southern Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,522

Year Built

  • Built in 1983

Lot Details

  • Lot Dimensions are 50 x 169

Parking

  • Driveway

Home Design

  • Duplex
  • Brick Exterior Construction
  • Frame Construction
  • Shingle Roof

Interior Spaces

  • 1,612 Sq Ft Home
  • Property has 2 Levels
  • Laminate Flooring
  • City Views
  • Washer and Electric Dryer Hookup

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Bathrooms

Schools

  • Stratton Elementary School
  • Madison Middle School
  • Hunters Lane Comp High School

Utilities

  • Cooling System Mounted To A Wall/Window
  • Baseboard Heating

Listing and Financial Details

  • Assessor Parcel Number 05108020400

Community Details

Overview

  • No Home Owners Association
  • 2 Units
  • Bailey Subdivision

Building Details

  • Operating Expense $29,530
  • Gross Income $163,260
  • Net Operating Income $133,730

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,522

Year Built

Built in 1983

Lot Details

0 Sq Ft Lot

Listing Details

  • Prop. Type: Residential Income
  • Year Built: 1983
  • Inclusions: Appliances,Negotiable
  • Unit Levels: Two
  • New Construction: No
  • Building Stories: 2
  • Structure Type: Duplex
  • Year Built Details: Existing
  • Special Features: UnderContract
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Flooring: Laminate
  • Total Bedrooms: 4
  • Above Grade Finished Sq Ft: 1612
  • Building Area Units: Square Feet
  • Living Area: 1612
  • Living Area Units: Square Feet

Exterior Features

  • Construction Type: Brick, Frame
  • Pool Private: No
  • Roof: Shingle
  • View: City
  • View: Yes
  • Waterfront: No

Garage/Parking

  • Attached Garage: No
  • Garage Yn: No
  • Parking Features: Asphalt, Driveway

Utilities

  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling Y N: Yes
  • Heating: Baseboard
  • Heating Yn: Yes
  • Laundry Features: Individual, Electric Dryer Hookup, Washer Hookup
  • Utilities: Water Available

Condo/Co-op/Association

  • Association: No
  • Senior Community: No

Lot Info

  • Zoning: Multi
  • Lot Size: 50 X 169
  • Lot Size Units: Acres
  • Parcel #: 05108020400
  • Property Attached Yn: Yes

Rental Info

  • Owner Pays: None
  • HOA Rent Includes: None
  • Tenant Pays: Cable TV, Electricity, Trash Collection, Water

Multi Family

  • Gross Income: 163260
  • Above Grade Finished Area Units: Square Feet
  • Property Net Operating Income: 133730
  • Number Of Units Total: 2
  • Annual Operating Expense: 29530
  • Total Actual Rent: 2600

Tax Info

  • Tax Annual Amount: 3522

MLS Schools

  • Elementary School: Stratton Elementary
  • High School: Hunters Lane Comp High School
  • Middle Or Junior School: Madison Middle

Map

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
04/11/2026 04/11/26 For Sale $390,000 -- $242 / Sq Ft
Source: Realtracs

Source: Realtracs

MLS Number: RTC3173156

Realtracs

APN: 051-08-0-205

Tennessee Davidson County Nashville 37115 Heron Walk

204A E Palestine Ave, Nashville, TN

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Realtracs All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
Listings courtesy of Realtracs as distributed by MLS GRID.
Based on information submitted to the MLS GRID

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Edward Klem
Listing Agent
Edward Klem
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Coldwell Banker Southern Realty
(615) 570-2281
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