1801 Neal Terrace, Nashville, TN 37203, Nashville, 37203 - 2 bed, 1 bath
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Nashville, TN 37203
This property presents a High-Potential Investment Opportunity with a List Price of $575,000, currently aligned with its $575,000 Fair Market Value. Featuring a Condition Rating of 6, the existing 1940 structure serves as a foundation for a significant redevelopment opportunity. The site’s UDO zoning allows for 5+ units when combined with the adjacent parcel, maximizing land utility in a prime, walkable Opportunity Zone. This asset is ideal for Multi-Family Developers or Buy-and-Hold Investors seeking high-density growth in Nashville’s strategic Wedgewood Houston corridor.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1801 Neal Terrace Subject | $575,000* List Price | 2 | 1 | 1,243 | $463 | - |
A 1702 Allison Pl Sold | $499,000 List Price | 2 | 1 | 921 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1940 (84 years old) with no evidence of major renovations. The interior features dated popcorn ceilings, original dark wood trim, and basic kitchen finishes. The listing description explicitly markets the property as a 'redevelopment opportunity' for high-density housing (5 or more units), indicating the value is primarily in the land and zoning rather than 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 = 7405, living area = 1243.
Elementary School: Glendale Elementary School (9/10).
Located in a federally designated Opportunity Zone with UDO zoning that allows for 5+ units when combined with the adjacent lot, offering significant tax incentives and ROI for developers.
Built in 1940, the existing 2-bedroom, 1-bathroom home is likely dated and small for modern residential standards, suggesting the value lies primarily in the land.
The property is zoned for several schools with low ratings (as low as 2/10), which may limit its appeal to families prioritizing public education.
Property can be sold with 1719 Neal Terrace, combining two .17-acre parcels into a larger redevelopment opportunity. Located in a federally designated Opportunity Zone, offering potential tax incentives for development. Walkable to Geodis Park, restaurants, coffee shops, bars, retail, and office hubs. One of the most strategically located neighborhoods in the city, with quick access to three major interstates to avoid traffic congestion. Current zoning allows more than two units per lot, with the potential for increased density through UDO zoning on a combined site. Combined site would total 15,000sf, eligible for "5 or more units" per Wedgewood Houston UDO. Contact the listing agent to discuss zoning, development potential, and additional opportunities in the neighborhood.
No exterior & parking available.
Grades PK-4 • 0.2 mi
Grades PK-4 • 1.2 mi
Grades PK-4 • 2.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 31% |
| Baths | 1.0 | 2.0 | 38% |
| Square foot | 1,243 | 1,350 | 38% |
| Lot Size | 7,405 | 7,405 | 50% |
| Price | $575.0K | $940.0K | 31% |
| Price per sq ft | $463 | $460 | 69% |
| Built year | 1940 | 1940 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 124 | 371 | 8% |
Apr 19, 2026
$575,000
$600,000
-4% Price Drop
Initial Listing
Feb 12, 2026
$600,000
Initial Listing