
Nashville, TN 37206
This High-Potential Investment Opportunity is listed at $779,900, positioned slightly above the $758,449 Fair Market Value. Featuring a restored 1940 cottage and a 2021 detached guest house, this property offers a Condition Rating of 2, providing modern, high-end finishes. The dual-dwelling layout creates significant income potential through short-term rentals or multigenerational living. Located in the heart of Lockeland Springs, this asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking to offset mortgage costs through strategic rental income in a premier, walkable neighborhood.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 413 Lockland Dr Subject | $779,900* List Price | 2 | 2 | 1,822 | $416 | - |
A 415 N 17th St Sold | $618,000 | 3 | 3 | 1,733 | $357 | 0.1 mi |
B 212 Chapel Ave Sold | $877,000 | 3 | 2 | 2,066 | $424 | 0.3 mi |
C 953 Sharpe Ave Sold | $620,000 | 3 | 2 | 1,681 | $369 | 1.0 mi |
D 953 Sharpe Ave Sold | $620,000 | 3 | 2 | 1,681 | $369 | 1.0 mi |
E 322 S 11th St Sold | $825,000 | 3 | 3 | 1,720 | $480 | 0.9 mi |
F 1211 Lillian St Sold | $790,000 | 3 | 3 | 1,892 | $418 | 0.7 mi |
G 1420 Roberts Ave Sold | $900,000 List Price | 4 | 4 | 2,312 | 0.6 mi | |
H 605 N 16th St Sold | $975,000 List Price | 4 | 3 | 2,268 | 0.2 mi | |
I 1414 Gartland AVE Active | $815,000 List Price | 3 | 2 | 1,570 | $519 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property features a 1940 cottage that has been thoughtfully restored and a detached guest house completed in 2021. Both kitchens and bathrooms show modern, high-end finishes including stainless steel appliances and shaker cabinetry, indicating a recent renovation within the last 5 years.
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 = 1822.
The inclusion of a modern, detached 2-bedroom guest house (built 2021) provides a turnkey opportunity for short-term rental income or a long-term lease to substantially offset mortgage payments.
Situated in the heart of Lockeland Springs, one of East Nashville's most coveted neighborhoods, the property offers exceptional walkability to high-end dining, local boutiques, and parks.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1822, other record living area = 1042.
The property is zoned for schools with lower performance ratings, particularly the high school at a 2/10, which may be a concern for families prioritizing public education.
With the total 1,822 square feet split between two separate structures, the property may feel undersized for buyers seeking a traditional, large-scale single-family residence.
There are very few opportunities in East Nashville that truly allow you to live in one of its most coveted neighborhoods while dramatically offsetting—or even eliminating—your monthly mortgage payment. Welcome to 413 Lockland Drive, an exceptional Lockeland Springs property offering a thoughtfully restored 2-bedroom, 2-bath historic cottage paired with a beautifully designed 2-bedroom, 2-bath detached guest house. Whether you choose to live in the front and Airbnb the guest house, live in the guest house while generating income from the main home, or simply create the perfect multigenerational living arrangement, the possibilities are as flexible as they are financially compelling. Each residence enjoys its own private entrance, dedicated parking, and separately fenced outdoor space, creating an uncommon level of privacy rarely found with income-producing properties. Together, the two homes offer 1,822 square feet of beautifully designed living space, blending the timeless charm of the original 1940 cottage with the modern convenience of a detached accessory dwelling completed in 2021. Warm, inviting interiors, low-maintenance finishes, and unmistakable East Nashville character make this a property that feels as good as it performs. And perhaps the best part? You're in the heart of Lockeland Springs—just a short stroll to some of East Nashville's most beloved restaurants, coffee shops, parks, and local boutiques. Whether you're looking for a primary residence with significant income potential, a savvy investment, or simply one of the smartest ways to own in one of Nashville's most desirable neighborhoods, opportunities like this rarely come along.
No exterior & parking available.
Grades PK-4 • 1.1 mi
Grades PK-4 • 1.4 mi
Grades 5-8 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 1,822 | - |
| Lot Size | 7,405 | - |
| Price | $779.9K | $556.8K |
| Price per sq ft | $428 | $306 |
| Built year | 1940 | 0 |
| HOA | $0 | $0 |
| Days on market | 56 | 484 |
May 14, 2026
$779,900
Initial Listing