208A E Palestine Ave Madison, TN 37115
Heron Walk NeighborhoodEstimated payment $2,362/month
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! Package includes 200A-B, 202A-B, 204 A-B, 208 A-B units. 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
Coldwell Banker Southern Realty Brokerage Phone: 6159471188 License #376759 Listed on: 04/12/2026
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 1 Level
- 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
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $3,522 | $125,160 | $41,400 | $83,760 |
| 2024 | $2,925 | $89,880 | $18,040 | $71,840 |
| 2023 | $2,925 | $89,880 | $18,040 | $71,840 |
| 2022 | $2,925 | $89,880 | $18,040 | $71,840 |
| 2021 | $2,955 | $89,880 | $18,040 | $71,840 |
| 2020 | $2,237 | $53,000 | $7,200 | $45,800 |
| 2019 | $1,672 | $53,000 | $7,200 | $45,800 |
| 2018 | $1,672 | $53,000 | $7,200 | $45,800 |
| 2017 | $1,672 | $53,000 | $7,200 | $45,800 |
| 2016 | $1,565 | $39,880 | $6,400 | $33,480 |
| 2015 | $1,565 | $39,880 | $6,400 | $33,480 |
| 2014 | $1,565 | $39,880 | $6,400 | $33,480 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 04/12/2026 04/12/26 | For Sale | $390,000 | -- | $242 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Special Warranty Deed | $47,501 | Parthenon Title Agency | |
| Trustee Deed | $38,250 | None Available | |
| Deed | $80,500 | Grissim Title & Escrow Llc |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $60,375 | Purchase Money Mortgage |
Source: Realtracs
MLS Number: 3173338
APN: 051-08-0-207
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Listings courtesy of Realtracs as distributed by MLS GRID.
Based on information submitted to the MLS GRID
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- 204A E Palestine Ave
- 202A E Palestine Ave
- 200A E Palestine Ave
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Ask me questions while you tour the home.