513 Veritas St, Nashville, TN 37211, Nashville, 37211 - 2 bed, 1 bath
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Nashville, TN 37211
This Development-Ready Residential Asset is listed at $440,000, reflecting the premium of its HPR 2 Zoning and site approval for two units compared to the $404,841 Fair Market Value. Currently in Fair Condition, the 1935 home is tenant-occupied, providing immediate cash flow to offset carrying costs during the redevelopment transition. While local schools like Glencliff High and Wright Middle have lower ratings, the site's urban location and dual-unit potential maximize ROI. This versatile property represents a strategic acquisition for Real Estate Developers or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 513 Veritas St Subject | $440,000* List Price | 2 | 1 | 1,096 | $369 | - |
A 414 Patterson St Active | $460,000 List Price | 3 | 1 | 1,270 | $362 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1935, the property is described as 100% livable and is currently occupied by tenants, suggesting it has been maintained through regular upkeep. While the listing emphasizes land value and redevelopment potential, the interior images show functional but dated features such as original-style dark wood trim and older hardwood flooring. It lacks recent major renovations but remains in a habitable state, fitting the criteria for fair condition.
The property is already site-approved for a side-by-side HPR 2 build, offering a streamlined path for developers to maximize the lot's value in a high-demand Nashville area.
The existing 1935 home is 100% livable and currently rented, providing an immediate income stream to offset carrying costs while permits and construction plans are finalized.
Investors have multiple exit strategies, including a full redevelopment of two new units or keeping the original structure and adding a second unit to the rear, allowing for flexible capital allocation.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =1307, other record lot size in square feet = 6970.
The assigned middle and high schools carry low ratings of 3 and 2 respectively, which may limit the property's appeal to families and impact the resale value of new builds.
As the property is priced primarily for land value, the 1935 structure represents either a significant maintenance liability if kept or an additional demolition expense for full redevelopment.
Site approved for a side by side HPR 2 build. Current home on the site is rented with the intent to vacate with contract. Property is being listed primarily for its land value, however the existing home is 100% livable and rentable. Options could also include keeping the existing home and redoing the HPR to be a front/back build.
No exterior & parking available.
Grades K-4 • 1.2 mi
Grades 5-8 • 0.6 mi
Grades 9-12 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 4.0 | 16% |
| Baths | 1.0 | 4.0 | 21% |
| Square foot | 1,096 | 2,199 | 16% |
| Lot Size | 1,307 | 871 | 53% |
| Price | $440.0K | $850.0K | 32% |
| Price per sq ft | $401 | $346 | 84% |
| Built year | 1935 | 2022 | 5% |
| HOA | $0 | $185 | 37% |
| Days on market | 185 | 237 | 16% |
Oct 20, 2025
$440,000
Initial Listing