208A E Palestine Ave, Madison, TN 37115
- $390,000
- 1,612
- SqFt
- List Price
- $390,000
- MLS#
- 3542967
- Days on Market
- 3
- Property Type
- Multifamily
- Sqft. of Residence
- 1,612
- County
- Davidson County
- Status
- ACTIVE
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.
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Additional Information
- Construction Type
- Brick, Frame
- Cooling System
- Wall/Window Unit(s)
- Elementary School
- Stratton Elementary
- Floor Types
- Laminate
- Heating System
- Baseboard
- High School
- Hunters Lane Comp High School
- Junior High School
- Madison Middle
- Laundry
- Individual, Electric Dryer Hookup, Washer Hookup
- Living Area
- 1,612
- Lot Dimensions
- 50 X 169
- Number Of Stories
- 2
- Roofing Material
- Shingle
- Sewer System
- Public Sewer
- Subdivision
- Bailey
- Tax Amount
- $3,522
- Water Source
- Public
- Year Built
- 1983
- Zoning
- Multi
- Type
- Multifamily
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Listing courtesy of Coldwell Banker Southern Realty.
Information Is Believed To Be Accurate But Not Guaranteed. Some or all listings may or may not be listed by the office/agent presenting these featured properties. Copyright 2026 MTRMLS, Inc. RealTracs Solutions.