ZIP CODE 37129 // NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN // DATA AS OF 2026-09-30
Murfreesboro, TN (37129) Rental Property Cap Rate & Cash Flow Report
Located in Rutherford County (Murfreesboro, TN), Zip Code 37129 ranks #222 of 500 within this selected sample (56th percentile) with a Zillow ZHVI typical home-value index of $442,156 (+0.2% YoY) and a ZORI observed market rent of $1,853/mo (+2.7% YoY). Requires at least 56.2% down payment at 6.5% interest to reach $0/mo break-even cash flow. This model combines different housing populations; it is not an observed average property return. Costs assume state-average tax, 0.5% annual insurance, 13% reserves and no HOA or management. Figures below follow your edits; this headline describes the original benchmark.
Net Monthly Cash Flow
-$1,011/mo
Annual: -$12,127/yr
Modeled Cap Rate
3.33%
NOI: $14,702/yr
Cash-on-Cash Return
-11.92%
Cash Needed: $101,696
1% Rule Ratio
0.42%
Gross Yield: 5.03%
Break-Even Rent
$3,015/mo
State Tax: 0.55%/yr
INTERACTIVE PRO-FORMA STATEMENT (ZIP 37129 BENCHMARK)
Edit any value
Purchase Price (ZHVI proxy)
Monthly Gross Rent (ZORI proxy)
Down Payment (%)
Interest Rate (30Y Fixed %)
Annual Property Tax (TN Avg 0.55%)
Annual Home Insurance ($)
Monthly HOA Fee ($)
Monthly Debt Service (P&I)
-$2,236/mo
Monthly Operating Expenses (Tax + Ins + 13% Reserves)
-$628/mo
HISTORICAL ZHVI PRICE VS. ZORI RENT TRAJECTORY (37129)
| Year | ZHVI Value | ZORI Rent | Gross Yield |
|---|---|---|---|
| 2021 | $367,485 | $1,555/mo | 5.08% |
| 2022 | $438,822 | $1,751/mo | 4.79% |
| 2023 | $428,027 | $1,738/mo | 4.87% |
| 2024 | $436,499 | $1,800/mo | 4.95% |
| 2025 | $441,193 | $1,804/mo | 4.91% |
| 2026 | $442,156 | $1,853/mo | 5.03% |
COMPARABLE U.S. RENTAL MARKETS
| Zip / City | Price | Rent | Cap Rate | Cash Flow |
|---|---|---|---|---|
| 38401 Columbia, TN | $371,173 | $1,586/mo | 3.41% | -$822/mo |
| 37040 Clarksville, TN | $304,511 | $1,303/mo | 3.42% | -$673/mo |
| 37167 Smyrna, TN | $402,185 | $1,721/mo | 3.42% | -$888/mo |
| 37066 Gallatin, TN | $441,341 | $1,718/mo | 3.01% | -$1,123/mo |
| 37013 Nashville, TN | $352,025 | $1,586/mo | 3.65% | -$708/mo |
| 37128 Murfreesboro, TN | $441,238 | $1,701/mo | 2.97% | -$1,137/mo |