1801 Neal Terrace, Nashville, TN 37203, Nashville, 37203 - 2 bed, 1 bath
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Nashville, TN 37203
This High-Potential Investment Opportunity is a High-Density Redevelopment Asset listed at $600,000. While positioned above the $535,321 Fair Market Value for its current residential use, the valuation reflects its location in a federally designated Opportunity Zone and its 7,405 SF lot. With a Condition Rating of 4, the value is driven by the Wedgewood Houston UDO zoning, allowing for 5+ units if combined with the adjacent parcel. Walkable to Geodis Park and zoned for 9/10 Glendale Elementary School, this is a strategic acquisition for Developers or Buy-and-Hold Investors.
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 | $424 | - |
A 1702 Allison Pl Sold | $499,000 List Price | 2 | 1 | 921 | 0.1 mi | |
B 915 Wedgewood Ave Sold | $465,000 | 3 | 1 | 1,235 | $377 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1940, the property is well-maintained and functional but shows significant signs of age. The kitchen features older white appliances and painted cabinetry, and the bathroom retains a dated aesthetic. While the home appears move-in ready with intact hardwood floors and regular upkeep, it lacks recent major renovations to its systems or style, fitting the criteria for a property that is aged but maintained.
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 the Wedgewood Houston UDO, the property offers significant redevelopment potential with zoning that allows for multiple units, including the ability to build five or more units if combined with the adjacent parcel.
Built in 1940, the existing 1,243-square-foot home likely requires significant capital expenditure for renovations or demolition to achieve the land's highest and best use.
The property is zoned for several schools with lower academic ratings, which may limit its attractiveness to traditional families compared to professional developers or investors.
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 | 28% |
| Baths | 1.0 | 2.0 | 33% |
| Square foot | 1,243 | 1,602.5 | 39% |
| Lot Size | 7,405 | 7,187.5 | 50% |
| Price | $575.0K | $597.5K | 50% |
| Price per sq ft | $463 | $415 | 72% |
| Built year | 1940 | 1940 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 70 | 443 | 6% |
Apr 19, 2026
$575,000
$600,000
-4% Price Drop
Initial Listing
Feb 12, 2026
$600,000
Initial Listing