Great opportunity to own an income-producing duplex in the growing Madison submarket of Nashville! Located at 705-707 Neelys Bend Rd, this property offers immediate upside with one unit currently rented thru 5/21/27 paying $1,125/mo. while the other side is occupied on a month-to-month lease at $995/month (under market), creating flexibility for investors or owner-occupants. The property provides strong potential for increased cash flow through rental adjustments, updates, or long-term hold appreciation as Madison continues to see steady redevelopment and investment activity. Conveniently positioned near Ellington Parkway, Rivergate, and downtown Nashville, the location offers easy access to shopping, restaurants, parks, and major commuter routes. Duplex properties with built-in income and value-add potential remain in high demand throughout the Nashville market. Whether you’re looking to expand your rental portfolio, house hack with one side vacant, or secure a stable investment in a growing area, this property presents multiple opportunities. Strong rental demand and continued neighborhood growth make this an attractive addition for both seasoned and first-time investors alike. Property being sold as-is.
43 days
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295
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19
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Zillow last checked:
Listing updated:
Listed by:
Tyler C. King615-364-0977,
Synergy Realty Network, LLC615-371-2424
Source: RealTracs MLS as distributed by MLS GRID,MLS#: 3232179
Facts & features
Interior
Bedrooms & bathrooms
Bedrooms: 4
Bathrooms: 2
Heating
Baseboard
Cooling
Wall/Window Unit(s)
Appliances
Laundry: Individual, Electric Dryer Hookup, Washer Hookup
Features
Flooring: Carpet, Laminate
Interior area
Total structure area: 1,612
Total interior livable area: 1,612 sqft
Finished area above ground: 1,612
Property
Features
Levels: Two
Stories: 2
Lot
Size: 10,000 Square Feet
Dimensions: 50 x 200
Details
Parcel number: 05202019200
Zoning: Rs10
Special conditions: Standard
Construction
Type & style
Home type: MultiFamily
Property subtype: Multi Family
Attached to another structure: Yes
Materials
Brick, Vinyl Siding
Condition
New construction: No
Year built: 1982
Utilities & green energy
Sewer: Public Sewer
Water: Public
Utilities for property: Water Available
Community & HOA
Community
Subdivision: Rainbow Terrace
HOA
Has HOA: No
Location
Region: Madison
Financial & listing details
Price per square foot: $239/sqft
Tax assessed value: $310,700
Annual tax amount: $3,497
Date on market: 6/8/2026
Inclusions: Appliances
Total actual rent: 2250
Tenant pays: Electricity, Water
Estimated market value
Zestimate®
Not available
Estimated sales range
Not available
Rent Zestimate®
Not available
Price history
Date
Event
Price
7/6/2026
Price change
$384,900-3.5%$239/sqft
Source: RealTracs MLS as distributed by MLS GRID #3232179Report a problem
6/8/2026
Listed for sale
$399,000+513.8%$248/sqft
Source: RealTracs MLS as distributed by MLS GRID #3232179Report a problem
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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included
All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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Source: RealTracs MLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.