952 Colfax Drive, Nashville, TN 37214, Nashville, 37214 - 3 bed, 1 bath
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Nashville, TN 37214
This property represents a High-Potential Investment Opportunity, listed at $365,000—positioned slightly above the $356,764 Fair Market Value. While the main residence maintains a Condition Rating of 3 with an updated kitchen, the primary value lies in the 800+ sqft 2-level outbuilding. This versatile asset offers significant potential for a music studio or rental suite, mirroring the previous owner's successful house-hack strategy. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to leverage the large lot and flexible outbuilding for long-term appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 952 Colfax Drive Subject | $340,000* List Price | 3 | 1 | 1,191 | $285 | - |
A 3140 Boulder Park Dr Sold | $315,000 | 3 | 1 | 1,100 | $286 | 0.9 mi |
B 3140 Boulder Park Dr Sold | $315,000 | 3 | 1 | 1,090 | $289 | 0.9 mi |
C 2907 Dunmore Dr Sold | $313,000 | 3 | 1 | 1,000 | $313 | 0.6 mi |
D 2718 McKeige Dr Sold | $345,000 | 3 | 1 | 1,178 | $293 | 0.9 mi |
E 3140 Boulder Park Dr Sold | $315,000 | 3 | 1 | 1,056 | $298 | 0.9 mi |
F 2704 McKeige Dr Active | $389,800 List Price | 3 | 1 | 1,264 | $308 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While built in 1957, the property features a recently updated kitchen with stainless steel appliances, subway tile backsplash, and modern cabinetry. The interior shows well-maintained hardwood floors and updated fixtures, making it move-in ready, although the outbuilding is noted as needing renovation.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 11761, living area = 1191.
The 800+ sqft two-level outbuilding with a full bath provides exceptional potential for a music studio, guest suite, or rental income, previously allowing the owner to rent the main house for $2,200/month.
Located in the high-growth Donelson area, the property offers convenient access to I-40, downtown Nashville, and BNA airport, while sitting directly across from protected parkland.
The main house contains only one bathroom for three bedrooms, which may be a drawback for modern families or limit the property's competitive edge against multi-bath homes in the same price bracket.
The outbuilding requires significant renovation to reach its full utility, and the property's 149 days on market suggests potential buyers may have concerns regarding the total investment needed versus the list price.
OPEN HOUSE SCHEDULED FOR JUNE 14 HAS BEEN RESCHEDULED TO JUNE 21 DUE TO UNAVOIDABLE SITUATION. Unlimited potential in Donelson! Attention homeowners, musicians, investors! This three bed, one bath ranch, with an 800+ square foot, 2-level outbuilding offers endless possibilities. The house features three bedrooms, an updated kitchen, laundry room, and a storage shed in the back yard. The building in back features 540sf on the ground level and a 336sf loft with a full bath. With renovation, it could be used as a music studio, a garage, a workshop/mother-in-law suite, or simply as a massive amount of storage. The current owner lived in the loft for three years while renting the house in front for $2,200/month. Set across the street from parkland owned by BNA, convenient to the airport, easy access to I-40 and downtown, and just around the corner from Donelson food and retail.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 1.0 | 2.0 | 23% |
| Square foot | 1,191 | 1,534 | 25% |
| Lot Size | 11,761 | 14,810 | 37% |
| Price | $340.0K | $360.3K | 43% |
| Price per sq ft | $285 | $253 | 70% |
| Built year | 1957 | 1966 | 27% |
| HOA | $0 | $0 | 50% |
| Days on market | 157 | 311 | 2% |
Jun 20, 2026
$340,000
$365,000
-7% Price Drop
Initial Listing
Jan 17, 2026
$365,000
Initial Listing