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.
Active
$399,000
705 Neelys Bend Rd, Madison, TN 37115
4beds
2baths
1,612sqft
Multi Family
Built in 1982
-- sqft lot
$-- Zestimate®
$248/sqft
$-- HOA
What's special
- 6 days |
- 208 |
- 20 |
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
Tyler C. King 615-364-0977,
Synergy Realty Network, LLC 615-371-2424
Source: RealTracs MLS as distributed by MLS GRID,MLS#: 3232179
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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: $248/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
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 6/8/2026 | Listed for sale | $399,000+513.8%$248/sqft |
Source: | ||
| 2/14/2019 | Listing removed | $825$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 1/14/2019 | Price change | $825-13.2%$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 12/28/2018 | Listed for rent | $950$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 4/17/2014 | Sold | $65,000+18.2%$40/sqft |
Source: Public Record Report a problem | ||
| 6/10/2010 | Sold | $55,000-68.6%$34/sqft |
Source: Public Record Report a problem | ||
| 1/23/2010 | Listing removed | $175,000$109/sqft |
Source: CENTURY 21 Lakes, Land & Auction #1106320 Report a problem | ||
| 11/22/2009 | Price change | $175,000-2.8%$109/sqft |
Source: CENTURY 21 Lakes, Land & Auction #1106320 Report a problem | ||
| 11/7/2009 | Price change | $180,000-5.3%$112/sqft |
Source: CENTURY 21 Lakes, Land & Auction #1106320 Report a problem | ||
| 9/29/2009 | Listed for sale | $190,000-9.5%$118/sqft |
Source: CENTURY 21 Lakes, Land & Auction #1106320 Report a problem | ||
| 8/24/2009 | Listing removed | $210,000$130/sqft |
Source: CENTURY 21 Seals Realtors & Auction #1106320 Report a problem | ||
| 8/7/2009 | Listed for sale | $210,000$130/sqft |
Source: CENTURY 21 Seals Realtors & Auction #1106320 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,497 +18.1% | $124,280 +36.5% |
| 2024 | $2,962 | $91,040 |
| 2023 | $2,962 | $91,040 |
| 2022 | $2,962 -1% | $91,040 |
| 2021 | $2,993 +33% | $91,040 +70.7% |
| 2020 | $2,251 +33.8% | $53,320 |
| 2019 | $1,682 | $53,320 |
| 2018 | $1,682 +0% | $53,320 |
| 2017 | $1,682 | $53,320 +35.1% |
| 2016 | $1,682 +8.6% | $39,480 |
| 2015 | $1,549 | $39,480 |
| 2014 | $1,549 | $39,480 |
| 2013 | -- | $39,480 -13.2% |
| 2012 | -- | $45,480 +60% |
| 2011 | -- | $28,425 -37.5% |
| 2010 | -- | $45,480 |
| 2009 | -- | $45,480 +18.9% |
| 2008 | -- | $38,240 |
| 2007 | -- | $38,240 |
| 2006 | -- | -- |
| 2005 | -- | -- |
| 2004 | -- | -- |
| 2003 | -- | -- |
| 2002 | -- | -- |
| 2001 | -- | -- |
| 2000 | -- | -- |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.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.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: Rainbow Terrace
Nearby schools
GreatSchools rating
- 4/10Stratton Elementary SchoolGrades: PK-5Distance: 1.4 mi
- 4/10Madison Middle PrepGrades: 6-8Distance: 1.3 mi
- 4/10Hunters Lane Comp High SchoolGrades: 9-12Distance: 3.6 mi
Schools provided by the listing agent
- Elementary: Stratton Elementary
- Middle: Madison Middle
- High: Hunters Lane Comp High School
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.
A local agent can set up tours, give advice and negotiate with sellers.
A local lender can help you make sure your offer is ready when you are.
- Tennessee
- Davidson County
- Nashville
- 37115
- Rainbow Terrace
- 705 Neelys Bend Rd






