Darin and Christina Cunningham | Re/Max Elite
278 Franklin Road Suite 190 | Brentwood, TN 37027
Office: 615.661.4400 | Fax: 615.661.4115
Christina: 615.394.4168 | Darin: 615.456.4086

How to Search for Affordable Nashville Investment Properties

How to Search for Affordable Nashville Investment PropertiesIt’s been a banner year for Nashville’s housing sector. Last January the central Tennessee city placed number one atop Zillow’s annual listing of the country’s hottest housing markets, and that honor was shortly followed up by an eighth place finish on Forbes’ own ranking of best property investment cities.

With corporate giants like Nissan and Kroger setting up base in Tennessee, and the already well-established healthcare industry continuing to expand, the city offers great employment opportunities for residents and newcomers alike. Combine that with a low cost of living, and you have a recipe for rapidly appreciating property values all across 2018.

In short, if you’re a savvy investor looking to get in on Nashville’s housing market while prices are still affordable, then now’s the time to do it. Of course, you’ll need to know where to look, here are some handy tips to help you get started.

Crunching the Numbers

Budgeting your forecasted income and total capital expenditure is the first step in any investment venture. Average prices in the Music City currently hover around $376,000 that means you should have at least $400,000 in ready financing if you’re looking at Nashville investment properties.   Be sure to factor in further expenses for required renovations, repairs and property taxes.

Nashville is a buyer’s market currently so if you’re looking to turn a consistent return on your investment you should be looking towards renting out the property. If you go the traditional route, and get in some permanent tenants then you can expect to earn around $1500-$2000 a month per unit. There is significantly more revenue to be made with Airbnb however, on average listed properties on the platform pull in around $3000-$3500 a month.

The Best Neighborhoods

Young professionals are increasingly drawn to the city’s Downtown area, where large condominiums, luxury high-rises and spacious lofts are all attracting significant interest from prospective renters. If you’re planning family housing, then Downtown definitely isn’t the place to invest, look at this area only if you’re looking to market towards city newcomers and the urban middle-class.

If you’re targeting younger, upscale tenants then The Gulch should be the focus of your property search. Widely acknowledged as the hippest area of Nashville, The Gulch is brimming with boutique retail stores, luxury brand outlets and chic restaurants.

For a more family-friendly vibe, city’s Germantown neighborhood is a great place to look. Established in 1830, Germantown is the oldest residential region of the city, and it shows in the diversity of architecture. You’ll find everything from duplexes and townhouses to single-family units and apartments in this neighborhood.

For upscale family housing, Green Hills is one of the best neighborhoods to invest in. This area is home to the best public and private schools in the city, as well as some great trendy retail outlets. To cap it off the neighborhood is also the site of The Mall at Green Hills, the most visited retail destination across Nashville.

Have a Specific Neighborhood in Mind for Your Nashville Investment Property?

Darrin Cuttingham maintains an extensive portfolio of highly coveted properties across the Nashville area. With years of experience under his belt, he has a proven track record of closing investment deals quickly and efficiently at the best value for the buyer. Contact Darrin now, at (615) 661-4400 for more information.

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