Real Estate Investing in Nashville, Tennessee (37204)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 37204 (Nashville, TN)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 11.1% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 44.7 — hard to cash-flow at these prices.
What’s happening in Nashville, TN (37204)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 37204 Nashville
ZIP 37204 in Nashville, TN carries a impressive set of headwinds. Home values near $999K and rents of $1,861/mo sit inside a market where underwriting has to be tight.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 37204 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
ZIP 37204's metrics run below Davidson County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Employment concentration in 37204 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategy in 37204 is an operator game, not a passive one. Turning to rents, entry prices of $999K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Nashville:
Property Strategy for 37204
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $282,294 | $2,080 | 5.3% | +2.1% | $282,294 |
| 2BR | $519,646 | $2,280 | 3.2% | +5.7% | $259,823 |
| 3BR | $883,574 | $2,910 | 2.4% | +8.5% | $294,525 |
| 4BR | $1,250,729 | $3,550 | 2.0% | +7.8% | $312,682 |
| 5BR | $1,926,887 | — | — | +8.9% | $385,377 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 37204 Compare?
| Metric | 37204 | Nashville | Nashville-Davidson--Murfreesboro--Franklin, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $998,546 | $470,816 | N/A | $327,001 |
| 5-Year CAGR | 6.1% | 4.4% | N/A | 7.7% |
| Avg Rent | $1,861 | $1,948 | N/A | - |
| Cap Rate | 1.5% | 3.1% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 37204 (Nashville, TN). Anonymous, moderated, never written by AI.
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Property managers serving Davidson County
Manage rentals here? List your business →All County Music City provides full-service residential property management in Nashville, TN, and surrounding areas, focusing on maximizing rental property investment returns. summary from their website
ZoDev Design specializes in 3D architectural renderings and animations for commercial and residential architectural development projects. summary from their website
Elmington specializes in multifamily real estate development. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $998,546 |
| Monthly Rent | $1,861 |
| Price-to-Rent | 44.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.2% |
| Cap Rate | 1.5% |
| 5-Year IRR | 7.5% |
📈 Home Appreciation
| 1-Year | +2.3% ▲ |
| 3-Year CAGR | +2.1% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +6.7% ▲ |
🏠 Rent Trends
| 1-Year | -6.7% ▼ |
| 3-Year CAGR | -2.7% ▼ |
| 5-Year CAGR | +0.0% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 37204
Population: 17,004
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 37204
Schools in This ZIP Code
Nearby Schools (4 more)
Schools in adjacent ZIP codes that may serve this area
Crieve Hall Elementary
Harris-Hillman Special Education
Eakin Elementary
John Overton High
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
How does Nashville, TN rate as a rental market?
The 3.0/5 investability rating in Nashville, TN reflects its $999K prices and $1,861/mo rents. Investors generally consider it a solid option within TN.
Are landlord laws favorable in Nashville, TN?
The landlord environment in Nashville, TN is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
Where do rents currently stand in Nashville, TN?
Rental rates in Nashville, TN average $1,861/mo. Tenant demand and $999K home values make the yield look reasonable by investor standards.
How should investors approach Nashville, TN?
For Nashville, TN, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
How high is vacancy risk in Nashville, TN?
Rental vacancy in Nashville, TN is elevated. Investors should budget normal turnover but not chronic empty units.
You know 37204 now. You don’t know where it ranks.
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How 37204 ranks in Nashville-Davidson--Murfreesboro--Franklin, TN
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