1323 Pennock Ave, Nashville, TN 37207, Nashville, 37207 - 3 bed, 2 bath
Loading property details...
Nashville, TN 37207
This High-Utilization Development Asset is listed at $950,000, representing a strategic premium over the $800,526 Fair Market Value due to its significant land-use upside. The property maintains a Condition Rating of 4, featuring a functional but outdated 1940s structure that yields to the value of the 8,712 sqft lot. Situated in a Prime East Nashville Location near Shwab Elementary, the site offers ample space for DADU or multi-unit development near the urban core. This project is best suited for Real Estate Developers or Value-Add Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1323 Pennock Ave Subject | $950,000* List Price | 3 | 2 | 1,140 | $702 | - |
A 1124 Stainback Ave Sold | $865,000 | 3 | 2 | 1,413 | $612 | 0.2 mi |
B 1124 Stainback Ave Sold | $865,000 | 3 | 2 | 1,465 | $590 | 0.2 mi |
C 315 Arrington St Active | $0 List Price | 3 | 1 | 850 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1940, the property is functional but significantly outdated. The kitchen features older white appliances and basic cabinetry, and the bathrooms show older fixtures and finishes. While the home appears to have been maintained through regular upkeep, it lacks recent major renovations to its aesthetic and major systems. The high list price is primarily driven by the lot size and development potential rather than the condition of the existing structure.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8712, living area = 1140.
Situated in the highly desirable 37207 zip code, this property offers excellent proximity to downtown Nashville and the trendy dining and entertainment hubs of East Nashville.
The 8,712 sqft lot in the Highland Land subdivision provides ample space for potential expansion, a DADU, or multi-unit development, which is a major draw for investors in this appreciating market.
At a list price of $950,000 for 1,140 square feet, the property is priced significantly above the market average for its size, which may limit its appeal to traditional residential buyers.
The assigned middle and high schools currently have low performance ratings, which could be a deterrent for families with older children or those focused on long-term educational quality.
Exceptional opportunity in Nashville. This spacious residence offers a versatile layout ideal for modern living. Situated on a quiet street in a highly desirable area.
No exterior & parking available.
Grades PK-4 • 0.5 mi
Grades PK-4 • 1.0 mi
Grades 5-8 • 1.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,140 | 1,495.5 | 27% |
| Lot Size | 8,712 | 8,712 | 50% |
| Price | $950.0K | $377.4K | 98% |
| Price per sq ft | $833 | $240 | 99% |
| Built year | 1940 | 1970 | 18% |
| HOA | $0 | $0 | 50% |
| Days on market | 582 | 363 | 57% |
Sep 17, 2024
$950,000
Initial Listing