
Nashville, TN 37216
This property presents a High-Potential Investment Opportunity with a List Price of $365,900—positioned well above the $175,515 Fair Market Value by -108%. Featuring a Condition Rating of 6, the structure is currently unlivable, requiring a full gut renovation or teardown. However, the R6 Zoning on a 10,019 sqft lot provides significant redevelopment upside for multi-family or infill projects. This is a strategic asset for Experienced Developers or Investors seeking to capitalize on East Nashville’s rapid growth and high-density land utility.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1007 Carolyn Ave Subject | $365,900* List Price | 4 | 3 | 2,086 | $84 | - |
A 1028 IVERSON AVENUE Sold | $385,000 List Price | 3 | 2 | 1,835 | 0.8 mi | |
B 1125 Leland Ave Sold | $320,000 | 2 | 2 | 1,559 | $205 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1934 (90 years old) with no evidence of renovation. The listing explicitly states the property is a 'possible teardown' with value 'primarily in the land.' Interior photos show a collapsing ceiling in the kitchen and severely dilapidated fixtures, confirming the structure is currently unlivable.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10019, living area = 2086.
The R6 zoning on a generous 10,019 sqft lot allows for one- or two-family construction, offering significant redevelopment potential for two new homes or an ADU addition.
Situated in a rapidly developing East Nashville corridor, the property is surrounded by high-end new construction and infill projects, ensuring strong future appreciation.
The existing 1934 structure requires a full gut renovation or teardown, necessitating substantial additional capital investment beyond the initial purchase price.
Sold strictly as-is with a preference for cash or renovation financing, this property excludes traditional buyers and requires specialized funding due to its uninhabitable state.
Exceptional opportunity in the heart of rapidly developing East Nashville. Property is currently configured as a duplex and is being sold strictly AS-IS, ideal for investors, builders, or experienced rehabbers. The existing structure needs a full gut renovation or possible teardown, with the current value primarily in the land. Zoned R6, allowing for higher-density residential development including one- and two-family construction. Strong potential to explore ADU addition, continued duplex use, or redevelopment into two new single-family homes (buyer to verify all zoning and development options). Surrounded by a wave of new construction and high-end redevelopment, this street has seen significant transformation with multiple new builds and infill projects replacing original housing stock, making this a prime location for future appreciation and redevelopment upside. Located in one of East Nashville’s most active growth corridors, just minutes to downtown, Gallatin Avenue retail, parks, and neighborhood amenities. Rare chance to secure land in an established neighborhood where teardown and new build activity continues to drive values upward. Sold as-is. Seller to make no repairs. Cash or renovation financing strongly preferred.
No exterior & parking available.
Grades PK-4 • 0.5 mi
Grades 5-8 • 2.4 mi
Grades 9-12 • 2.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 71% |
| Baths | 3.0 | 2.0 | 65% |
| Square foot | 2,086 | 1,734 | 67% |
| Lot Size | 10,019 | 12,632 | 33% |
| Price | $365.9K | $550.0K | 21% |
| Price per sq ft | $175 | $327 | 19% |
| Built year | 1934 | 1948 | 8% |
| HOA | $0 | $0 | 50% |
| Days on market | 39 | 629 | 1% |
May 12, 2026
$365,900
Initial Listing
Sep 15, 1997
$54,500
Public Record