509 Madeira St, Franklin, TN 37064
509 Madeira St, Franklin, TN 37064, Conditional at $659,900 ($368/sq ft). 2 bd · 2 ba · 1,795 sqft · $368/sqft.
509 Madeira St, Franklin, TN 37064, Conditional at $659,900 ($368/sq ft). 2 bd · 2 ba · 1,795 sqft · $368/sqft.
Conditional · $659,900
MLS #3611279 · listed September 28, 2026 · 15 days on market · updated October 12, 2026
2-bed, 2-bath condo at 509 Madeira St in Reid Hill Commons Sec 1, Franklin, 1,795 sqft, $659,900 ($368/sqft), by Synergy Realty Network, LLC.
509 Madeira St is a 2-bedroom, 2-bath condo in Franklin, TN 37064, offered at $659,900, about $368/sq ft across 1,795 sq ft.
At $368/sq ft, this condo is about 7% below the Franklin 37064 median list price per square foot of $397.
Recently sold in Franklin 37064: 189 comparable condos from $434,000 to $890,780, a median of $322/sq ft; this listing at $368/sq ft is about 14% above recent sold prices.
Market read: the Franklin 37064 condos market is balanced as of September 27, 2026, at about 4.6 months of inventory; recent sales have closed near 98.9% of list in the 12 months to October 13, 2026.
All-in, about $4,586/mo at 20% down (7.48% 30-year fixed).
Beyond principal and interest, the recurring carrying costs on this condo (property tax, insurance, and HOA) run about $902/mo, roughly 20% of the all-in monthly payment.
At the current 7.48% 30-year rate, principal and interest on this condo runs about $3,684/mo; at the 6.64% rate of about three months ago it would be roughly $3,386/mo, so monthly P&I is about $298 higher now.
Next step: ask Grant Hammond anything about 509 Madeira St (comps, HOA, tours) and he replies personally, usually same day.
Analysis by Grant Hammond, Compass RE. Figures as of October 12, 2026. Realtracs via IDX.
This is a condominium; HOA dues and building context are factored into the cost and pricing analysis below.
More context: Nashville condos and building guides.
Welcome to 509 Madeira St, a well-maintained all-brick home in a 55+ community in Franklin. The home features mature landscaping, a covered front entry, hardwood floors, detailed trim, and plenty of natural light. The spacious living room has a fireplace and large windows, with a dining room just off the main living area. A separate flex room offers additional space for an office, den, or study. Spend some time outside on the screened in porch or stone patio! The attached two-car garage provides convenient access and extra storage. Located close to Westhaven, downtown Franklin, shopping, and dining, this home offers a convenient location with low maintenance living. The whole home generator, refrigerator, washer, and dryer are all negotiable.
Listing remarks via the Realtracs Internet Data Exchange.
Complete reported fields for 509 Madeira St (reference).
| Date | Event | Price | Change |
|---|---|---|---|
| Under contract | |||
| Listed | $659,900 | ||
| Deed recorded | $343,000 |
Listed September 28, 2026, this listing was on the market 15 days before it went under contract. It has been under contract since October 13, 2026.
County assessment from Williamson County public records; listing-cycle history tracked by the GH Market Engine.
Estimated monthly ownership for 509 Madeira St at $659,900: principal & interest, property tax, insurance, and the HOA fee decomposed below. Estimate only; not a loan offer.
| List price | $659,900 |
|---|---|
| HOA dues | $315 / mo |
| HOA fee includes | Confirm per building (commonly insurance, exterior maintenance, amenities); the fee is part of true monthly cost. |
| Property tax basis | Assessed value × 25% (TN residential ratio) × the Williamson County rate |
Estimated total monthly payment for 509 Madeira St is about $4,586/mo, 20% down on a 30-year fixed at 7.48% (a conforming loan), including principal & interest $3,684, estimated property tax $215, homeowners insurance $372, and HOA dues $315. Estimate only; not a loan offer.
| Principal & interest | $3,684/mo |
|---|---|
| Property tax (est.) | $215/mo |
| Homeowners insurance (est.) | $372/mo |
| HOA dues | $315/mo |
| Estimated total | $4,586/mo |
Assumes 20% down, 30-year fixed at 7.48% (Mortgage News Daily, as of October 9, 2026). Property tax uses the Franklin, Williamson County rate outside the Franklin Special School District (FSSD addresses add $0.7673 per $100) at the 25% TN residential ratio. Estimate only; not a loan offer or appraisal. Enable JavaScript to adjust down payment, term, loan type, and rate.
| 30-year rate | Principal & interest | Est. total / mo | vs current |
|---|---|---|---|
| 6.48% | $3,330/mo | $4,232/mo | -$354/mo |
| 6.98% | $3,505/mo | $4,407/mo | -$179/mo |
| 7.48% | $3,684/mo | $4,586/mo | current |
| 7.98% | $3,866/mo | $4,768/mo | +$182/mo |
| 8.48% | $4,052/mo | $4,954/mo | +$368/mo |
Principal & interest on a 30-year fixed at 20% down ($527,920 loan), with property tax, insurance, and HOA held constant at $902/mo. Current 30-year fixed 7.48% (Mortgage News Daily, as of October 9, 2026). Estimate only; not a loan offer.
Owning 509 Madeira St runs about $4,586/mo all-in, from the payment estimate above. Whether buying beats renting turns on how long you stay, how fast prices and rents move, and the rent you would otherwise pay. Turn on JavaScript to model those assumptions and find the year buying pulls ahead.
Method: net cost to own equals down payment plus about 3% closing plus payments made, minus equity built (principal paid and appreciation) and about 7% exit costs, measured against cumulative rent. Broker commissions are not set by law and are fully negotiable. Estimate only; not financial advice.
| HOA dues | $315 / mo (about 7% of the estimated total payment) |
|---|---|
| HOA per year | $3,780 |
| HOA over 5 years | $18,900 (at current dues) |
| Effective carrying cost | $2.555 / sq ft / mo (estimated total over 1,795 sq ft) |
HOA dues are part of true monthly cost and typically cover items such as building insurance, exterior maintenance, and amenities; coverage varies by building. Dues can change and buildings may levy special assessments, so review the current budget, reserve study, and any planned assessments before offering. Figures use current dues; estimate only, not a loan offer.
The Williamson County appraised value of $372,900 trails the $659,900 list price. If the next reassessment moves the appraised value toward today's market, estimated annual property tax would rise from about $1,460 now to roughly $2,584 (appraised value times the 25% Tennessee residential ratio times the Franklin, Williamson County rate outside the Franklin Special School District (FSSD addresses add $0.7673 per $100)). Reassessment timing and the certified rate can change, and a purchase does not by itself trigger reassessment. Verify with the Williamson County Assessor of Property and Trustee. Estimate only.
| Metric | This condo | Franklin 37064 active | Recently sold |
|---|---|---|---|
| Price / sq ft | $368 | $397 median | - |
| Price position | 41st pctile | -7% vs median | - |
| Franklin 37064 vs greater Franklin | - | +8% | - |
This listing beside the active Franklin 37064 market and recent recorded closings. Computed by Grant Hammond from Realtracs via IDX, as of October 13, 2026.
Among the active condos in Franklin 37064, this condo at $368/sq ft falls in the 41st percentile on price per square foot.
Franklin 37064 trades about 8% above greater Franklin on a price-per-square-foot basis.
Taken together, this condo reads in line with Franklin 37064 on a per-square-foot basis.
Computed by Grant Hammond from the active Franklin 37064 comparables (Realtracs via IDX), as of October 13, 2026, refreshed weekly.
| Active listings | 116 in Franklin 37064 condos |
|---|---|
| Recent absorption | about 25.2 sales / mo |
| Months of inventory | 4.6 months, a balanced market |
Over the past 12 months, homes in Franklin 37064 condos sold at about 98.9% of list price.
Recorded sales in Franklin 37064 condos: 297 in the past 12 months.
Supply-side and recent-sale context for Franklin 37064 condos. Sale figures are trailing 6/12/24-month medians of recorded Franklin 37064 condos closings. Source Realtracs via IDX, as of September 27, 2026.
509 Madeira St sits in Reid Hill Commons Sec 1, Franklin, Williamson County.
In Franklin 37064, homes there are priced around $397 per square foot; inventory in Franklin 37064 condos is running at about 4.6 months, a balanced market; recent sales closed near 98.9% of list price; 189 sales have been recorded in the past year.
Neighborhood housing-market facts computed by Grant Hammond from Realtracs via IDX, as of October 13, 2026.
Approximately 17 miles from downtown Nashville (straight-line distance).
509 Madeira St is zoned for Pearre Creek Elementary School, Hillsboro Elementary/ Middle School, Independence High School. Attendance zones and enrollment change, confirm current zoning with the Williamson County Schools district before relying on it.
Get the full details, recent comparable sales, and any off-market options for 509 Madeira St - plus tour times if you want them. Grant Hammond, Compass RE, replies personally, usually the same day.
Comparable listings near 509 Madeira St, by price and size.
Listed with Synergy Realty Network, LLC. Properties marked with the MTRMLS logo are provided courtesy of the Realtracs Internet Data Exchange Program. Information believed accurate but not guaranteed. IDX by Diverse Solutions.
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Nashville mortgage rates fell to 7.48% for the week ending October 9, 2026, down 9 basis points after Monday set a 52-week high.
As of the latest update (October 12, 2026), 509 Madeira St, Franklin is under contract and still being shown, per Realtracs. Contact Grant Hammond, Compass RE, for current availability.
509 Madeira St was listed on September 28, 2026 and went under contract on October 13, 2026, after 15 days on the market, per Realtracs.
No. The asking price has been $659,900 since it was listed on September 28, 2026.
509 Madeira St, Franklin is listed at $659,900, about $368 per square foot across 1,795 square feet.
2 bedrooms and 2 bathrooms.
About $368 per square foot ($659,900 across 1,795 sqft).
509 Madeira St, Franklin was built in 2008.
Yes, 2 garage spaces, per the listing.
HOA dues are $315 per month, as listed.
509 Madeira St, Franklin is in the Reid Hill Commons Sec 1 subdivision of Franklin.
About $4,586 a month with 20% down on a 30-year fixed at 7.48%, principal and interest $3,684, estimated property tax $215, insurance $372, and HOA $315. Estimate only; not a loan offer. Adjust the down payment, term, loan type, and rate in the financing calculator on this page.
509 Madeira St, Franklin is zoned for Pearre Creek Elementary School, Hillsboro Elementary/ Middle School, Independence High School. Attendance zones and enrollment change, verify current zoning with the Williamson County Schools district.
HOA dues are $315 per month; coverage varies by building (commonly insurance, exterior maintenance, and amenities). Confirm the fee-includes for this building.
At $368 per square foot, 509 Madeira St, Franklin is in the 41st percentile of active listings in the Franklin 37064, about 7% below the $397 building median, on a fee-adjusted price-per-square-foot basis. Comp-based analysis by Grant Hammond, Compass RE, not an appraisal.
Request a time using the tour form on this page (in-person or a live video walkthrough), or call or text Grant Hammond, Compass RE, at (615) 945-7123. Most showings are confirmed within 24 to 48 hours.
Grant Hammond, Compass RE, can prepare and present your offer, walk you through price, contingencies, and timeline, and represent you through closing. Start with the form on this page or call (615) 945-7123. Broker fees are not set by law and are fully negotiable.
Yes. This page shows the full photo set and reported MLS fields; contact Grant Hammond, Compass RE, for a disclosure packet, recent comparable sales, and any off-market options.
Grant Hammond, Compass RE (TN Broker), with 25+ years and $1B+ in Middle Tennessee sales and 350+ Nashville high-rise condo sales. Use the tour or question form on this page.
At about $368 per square foot, 509 Madeira St, Franklin ranks in the 41st percentile of active Franklin 37064 listings by price per square foot, roughly 7% below the Franklin 37064 median; recent comparable sales in Franklin 37064 closed near $322 per square foot. This is comp-based analysis by Grant Hammond, Compass RE, not an appraisal.
The Franklin 37064 condos market is currently balanced, at about 4.6 months of inventory; recent sales have closed near 98.9% of list price over the past year, per Realtracs as of September 27, 2026.
Thinking of selling in Reid Hill Commons Sec 1?
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