5005 Illinois Ave, Nashville, TN 37209, Nashville, 37209 - 2 bed, 2 bath
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Nashville, TN 37209
This property presents a High-Potential Investment Opportunity with a List Price of $500,000—positioned slightly above the $496,659 Fair Market Value by 0.67%. While requiring a full renovation, the Fair Condition Rating is offset by the rare ability to develop two dwellings on a double lot without an HPR. This Development Potential makes it a strategic asset for Fix-and-Flip Investors or Real Estate Developers looking to maximize density in the high-demand Nations neighborhood.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5005 Illinois Ave Subject | $500,000* List Price | 2 | 2 | 1,196 | $415 | - |
A 1003 57Th Ave N Sold | $445,000 | 3 | 2 | 936 | $475 | 0.5 mi |
B 5306 Pennsylvania Ave Active | $435,000 List Price | 2 | 1 | 1,192 | $365 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1938 and explicitly described as needing a 'full remodel,' the property features extremely dated bathroom fixtures, worn flooring, and aged systems. While it has a modern tankless water heater, the overall condition requires a complete rehab, and the listing even suggests a tear-down as a viable option for the double lot.
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 = 1196.
The property sits on a double lot (910 and 912) with the rare opportunity to build two separate dwellings without a Horizontal Property Regime (HPR), offering massive upside for investors.
Situated in 'The Nations,' one of Nashville's most sought-after and rapidly appreciating neighborhoods, providing excellent long-term value and lifestyle appeal.
The home requires a full remodel and significant capital investment to address its current condition, which may be a barrier for traditional residential buyers.
The majority of the assigned public middle and high schools have low ratings (2-4), which could impact the property's appeal to families prioritizing the local school district.
Here is your chance to add on to a 100 year old home on a double lot in The Nations and keep a little bit of history alive!. The home needs a full remodel and would be perfect for an addition. It sits on lot 910 and 912 and the option to tear down and build two without having it be an HPR. The home is four large rooms, Two were used as bedrooms and there are two bathrooms. The front room has built in bookshelves and a decorative only fireplace. The transoms over most of the doors add extra character. And the tall ceilings are still one of a kind. There is a room off the rear of the home that was used as a second kitchen The home has the option for both an electric and gas stove. Outdoor covered patio in good shape. Shed. Front porch is screened in. Tanless water heater. Porcelain claw foot tub.
No exterior & parking available.
Grades PK-4 • 0.2 mi
Grades PK-4 • 0.9 mi
Grades PK-4 • 1.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 1,196 | - |
| Lot Size | 7,405 | - |
| Price | $500.0K | $556.8K |
| Price per sq ft | $418 | $306 |
| Built year | 1938 | 0 |
| HOA | $0 | $0 |
| Days on market | 16 | 484 |
Jul 7, 2026
$500,000
Initial Listing