1506 Shelby Ave, Nashville, TN 37206, Nashville, 37206 - 3 bed, 2 bath
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Nashville, TN 37206
This Turnkey Single-Family Residence is a Strong Value Opportunity, listed at $925,000—positioned well below the $941,599 Fair Market Value by 1.76%. This valuation gap offers $16,599 in Instant Equity. Featuring a Mint Condition Rating with high-end renovations, a 450sqft Detached Studio, and a Spacious Concrete Patio, this home offers a premium lifestyle in the walkable Lockeland Springs neighborhood. It is an ideal acquisition for Owner-Occupants seeking a move-in ready sanctuary or Investors looking for a high-demand rental asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1506 Shelby Ave Subject | $925,000* List Price | 3 | 2 | 2,000 | $431 | - |
A 1614 Lillian St Sold | $1,115,000 List Price | 3 | 3 | 2,192 | 0.2 mi | |
B 1507 Fatherland St Sold | $1,170,000 | 4 | 2 | 2,277 | $514 | 0.2 mi |
C 1506 Holly St Sold | $1,099,000 List Price | 3 | 3 | 2,204 | 0.3 mi | |
D 1620 Lillian St Active | $799,000 List Price | 3 | 3 | 1,790 | $446 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Despite the 1920 build date, the property has undergone a comprehensive, high-end renovation within the last 5 years. The kitchen is fully modernized with shaker cabinetry, stone countertops, and premium tile work. The exterior features updated windows, professional hardscaping, and a detached studio, indicating the home is in mint condition with no immediate maintenance required.
Situated in the highly sought-after Lockeland Springs neighborhood, this home offers exceptional walkability to Five Points, Shelby Bottoms Park, and renowned local dining like Lockeland Table and Urban Cowboy.
The 450 sqft detached studio with a half bath provides significant added value, offering a flexible space for a home office, creative studio, or potential DADU conversion.
The property features professional hardscaping, a covered front porch, and a spacious concrete patio with hardwired lighting and irrigation, creating a high-end, low-maintenance outdoor retreat.
The assigned high school, Stratford Comp High, currently holds a low rating of 2, which may be a deterrent for families prioritizing public school performance.
As a 1920s bungalow with an unfinished basement, the property may require more frequent maintenance and updates compared to newer constructions in the East Nashville area.
Located in the desirable Lockeland Springs neighborhood, this charming, single-level bungalow is a prime opportunity to own a piece of East Nashville charm in one of the city’s most vibrant and walkable neighborhoods. Ideally situated just minutes from Five Points, Shelby Bottoms Park, and downtown, this home offers the perfect blend of character, convenience, and modern livability. Eye-catching curb appeal sets the tone, featuring a covered front porch for slow mornings and easy evenings. Lush, intentional hardscaping flows seamlessly from front to back leading to a spacious concrete patio and grilling area, blending beauty with effortless outdoor living complete with hardwired lighting and irrigation. Step inside to find a thoughtfully designed layout filled with natural light, rich hardwood floors, and inviting living spaces. A 450sqft detached studio with a half bath offers flexibility for an office, creative space, or DADU potential. Unfinished basement doubles as storm shelter and additional storage. Worry-free radon mitigation system installed. Walk to Lockeland Table, Urban Cowboy, Mama Bread, Margot, & all the neighborhood gems.
No exterior & parking available.
Grades PK-4 • 0.5 mi
Grades 5-8 • 1.4 mi
Grades 9-12 • 2.4 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 | 2,000 | 1,856 | 54% |
| Lot Size | 7,405 | 8,276 | 37% |
| Price | $925.0K | $555.0K | 83% |
| Price per sq ft | $462 | $356 | 75% |
| Built year | 1920 | 1938 | 17% |
| HOA | $0 | $0 | 50% |
| Days on market | 73 | 774 | 1% |
Apr 3, 2026
$925,000
Initial Listing