11 Music Sq E 201, Nashville, TN 37203, Nashville, 37203 - 1 bed, 1 bath
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11 Music Sq E 201
Nashville, TN 37203
ACTIVE
CONDITION: EXCELLENT
1Beds
1Baths
1,044Sq Ft
871Lot Size
Property Price
LIST PRICE$370,000
EST. MARKET VALUE
$370,000
SUMMARY
This unit at Spence Manor represents a High-Potential Investment Opportunity, currently listed at a List Price of $370,000, which aligns with its $370,000 Fair Market Value. As a fully renovated, turnkey Asset, this property features a Condition Rating of 2 and iconic historical appeal, including a signature guitar-shaped pool. With proven short-term rental performance and prime Music Row Zoning, it offers immediate operational stability. This is an ideal acquisition for Buy-and-Hold Investors or Short-Term Rental Operators seeking a high-demand, income-producing property in Nashville.
Estimated Market Value
$370,000
Based on Realkey algorithm analyzing recent comparable sales in Nashville.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 11 Music Sq E 201 Subject 1 bd · 1 ba · 1,044 sqft · $354 | $370,000* List Price | 1 | 1 | 1,044 | $354 | - |
A 600 12th Ave S 1914 Sold 1 bd · 1 ba · 824 sqft · $455 · 0.5 mi | $375,000 | 1 | 1 | 824 | $455 | 0.5 mi |
B 1510 Demonbreun St 1103 Sold 1 bd · 1 ba · 987 sqft · $436 · 0.2 mi | $430,000 | 1 | 1 | 987 | $436 | 0.2 mi |
C 600 12th Ave S 1608 Sold 1 bd · 2 ba · 945 sqft · $460 · 0.5 mi | $435,000 | 1 | 2 | 945 | $460 | 0.5 mi |
D 1803 Broadway 120 Sold 1 bd · 1 ba · 851 sqft · $387 · 0.2 mi | $329,000 | 1 | 1 | 851 | $387 | 0.2 mi |
E 1808 State St 113 Sold 2 bd · 2 ba · 800 sqft · $375 · 0.5 mi | $300,000 | 2 | 2 | 800 | $375 | 0.5 mi |
F 11 Music Sq E 203 Active 1 bd · 1 ba · 750 sqft · $447 · 0.0 mi | $335,000 List Price | 1 | 1 | 750 | $447 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
Although built in 1974, the unit has undergone a full modern renovation within the last 5 years. It features a contemporary kitchen with white shaker cabinets, stainless steel appliances, stone countertops, and updated flooring throughout, making it a turnkey property.
PROSSTRENGTHS & OPPORTUNITIES
- Prime STR Location
Situated in the heart of Music Row with proper zoning eligibility, this property offers exceptional walkability to Broadway and The Gulch, ensuring high demand for short-term rentals.
- Iconic Historical Appeal
As a former hotel for legends like Elvis and Johnny Cash featuring a guitar-shaped pool, the property provides a unique 'authentic Nashville' marketing edge that competitors cannot replicate.
- Turnkey Investment
The unit is fully renovated with a proven track record of profitability and an all-inclusive HOA that covers electricity and water, offering a seamless transition for investors.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =871, other record lot size in square feet = 756. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 1, other record bedroom count = 3.
- High Association Fees
The monthly HOA fee of $962 is relatively high for a one-bedroom unit, which may impact the overall net operating income and cash flow for some investors.
- Showing Limitations
As an active and busy short-term rental, viewing opportunities are strictly limited to gaps in the booking calendar, which can complicate the acquisition and due diligence process.
About 11 Music Sq E 201
Welcome to Unit 201 in famous Spence Manor! This extra large 1-bedroom condo is a true icon of country music history with an enviable location in the heart of Music Row (and the correct zoning eligibility). This property blends a prime location, rich storytelling, notable guest experience, and proven profitability within one of the area's most desirable corridors. Here, you and your guests never sacrifice location and all units are fully renovated. Originally a hotel where Elvis, Johnny Cash, Dolly, and more stayed, the guitar-shaped pool sets the scene while live music from Demonbreun drifts up and down the sidewalks. This is an authentic Nashville experience that other buildings simply cannot touch. Walkable to Broadway, Midtown, The Gulch, and Edgehill, and with parking on-site, this property presents a turnkey opportunity for investors on Day 1 with a long-standing and proven track record of guest reviews and income. This premier location offers all of the touchpoints that guests are searching for, making this unit a standout in a competitive short-term rental market. This property is in a portfolio of 6 (see MLS listing 3278140). HOA includes: Water, Electricity, Exterior Maintenance, Pool Maintenance, Grounds Maintenance, and Trash Pickup. Financials available. This is an active and very busy short-term rental! Showings will be scheduled around booking calendar.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1974
- Lot Size
- 871 Sq. Ft.
Interior
- Total Bedrooms
- 1
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $962 / Month
Neighborhood Insights
Nashville Unified Schools
Eakin Elementary School
Grades K-4 • 1.4 mi
7/10
West End Middle School
Grades 5-8 • 2.3 mi
4/10
Hillsboro High School
Grades 9-12 • 3.3 mi
4/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 1.0 | 2.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 1,044 | 1,009.514 |
| Lot Size | 871 | 871 |
| Price | $370.0K | $347.6K |
| Price per sq ft | $354 | $343 |
| Built year | 1974 | 2007 |
| HOA | $962 | $334 |
| Days on market | 148 | 92 |
Pricing History
Listed for Sale
May 29, 2026
$370,000
Initial Listing