NASHVILLES' PRINCE & DUKE AVENUES, Nashville, TN 37207

  • 17%

    Annual Return (net)
  • $1,380,000

    Investment Offering*
  • Income

    Project type
  • 12 MO

    Est. Investment Term
  • Income

Financial Overview

$0 raised of $1,380,000

17%

New home build
12 MO
Min Investment Requirment: $5000

Investment Summary


Awesome New Investment Opportunity Targeting 8 7% Annualized Return for Ground-Up Construction of 23 Properties

Property Overview


  • 23 Pads sold in bulk
  • Wholesale $60,000 per pad – $1.38 Million
  • Retail $170,000 per pad – $3.91 Million
  • Suggest $177/SF Unit Resale – $336K
  • 17% Return on Investment
  • 5% YoY Market Price Increase
  • 1900 SF, 3 bdr, 2.5 bath, 2 car garage
  • Trendy East Nashville Hot Spot Location
  • Everything is turn-key ready waiting on investment dollars
 Items

1 Unit

23 Units

Pad (s)

$60,000

$1,380,000

Build 1900 sq ft @ $87/sqft

$165,300

$3,801,900

GC 15% on Build Cost

$24,795

$570,285

5.5% Real Estate Commission on $336,300 sale

$18,497

$425,431

Insurance, escrow, closing costs, utilities hold

$10,000

$230,000

buffer

$7,700

$177,100

TOTAL COSTS

$286,292

$6,584,716

Resale @ $177/sqft

$336,300

$7,734,900

Profit

$50,008

$1,150,184

ROI

17%

17%

Market Value Analysis


  • 5% YoY HOME PRICE INCREASE
  • NO TWO HOMES ARE IDENTICAL
  • 2400 PEOPLE MOVE HERE MONTHLY
  • 2015 POPULATION: 1,830,345
  • MEDIAN AGE:  34.53
  • DESIREABLE AREA

All of East Nashville is very desirable to buyers, with the right side of Ellington Pkwy being the first area to come up so more new builds and renovations are on that side, now the left side of Ellington is getting bought up and selling for the same prices. When you drive each side, you will see the right side being more “arrived” and the left being on the way

  • EXPLOSIVE GROWTH

East Nashville as a whole has gorgeous renovations and new builds scattered in with neighbors that are in need of upgrades or tear downs. “Sketchy” areas will be right next door to a $450,000 home that sells before it’s even finished being built. Over 30,000 people moved to Nashville last year, and that number has been predicted to double.  East Nashville has exploded with new construction to accommodate this large demand. The buyer market is very diverse, with the young professionals with higher income brackets desiring the East Nashville area due to many factors and venue’s:   i.e. 5 Points, the Gulch and then of coarse Downtown Nashville.

Attached are two CMA’s. One is on the left side of Ellington Pkwy and other is all of East Nashville, 6 months back, 1600-2500 sq.ft.   Some are attached, some detached.  Believe it or not, the resale footage price nearly the same. Using the same floor and exteior plans here is totally acceptable to buyers, classic style or new/modern are both very desireable, main thing is finishes on interior need to be similar to these.

Frequently Asked Question


THE LOTS

The lots are scattered throughout 2 streets on Prince and Duke.  There are 23 total pads selling in a package for $60,000 each totaling $1,380,000.00 asking price.

The sellers have spent years acquiring these pads to start the new community, and this year failed to be able to get the financing needed to complete the project.

They will sell the 23 pads as a package only or sit on it and wait for funding in future.

We do have several other investors that may take a portion of the lots. as long as we get them all accounted for, we can make an offer.

What is great about this project is that it will instantly become an “arrived” neighborhood with 23 new builds, wether built all at once or in pieces. 3 of the lots can only have 1 home, the rest are 2 on1 pads, which you will notice is common here.  This entire area was just rezoned from R5 (only one house allowed per lot) to R6 being 2 houses allowed per lot.  Several new builds have already begun on these streets.

THE BUILDS

Some homes are attached, some detached, believe it or not, resale footage price is nearly the same. Using the same floor and exterior plans here is totally acceptable to buyers, classic style or new/ modern are both very desirable. The main thing is that finishes on the interior need to be similar to the 1600-2500 sq. ft. homes buyers are used to seeing.

Many investors go for the higher end of $450,000 to $500,000 range to increase profits. The houses sell well, but as investors ourselves, we prefer the less risky option. We suggest the $177/ sq foot resale range building 1900 sq ft, 3 bedroom, 2.5 bath homes with 2 car garages. Very few homes in East Nashville have garages, so this is a major plus. This model fits the biggest buyer market and they sell quickly.

Some homes are attached, some detached, believe it or not, resale footage price is nearly the same. Using the same floor and exterior plans here is totally acceptable to buyers, classic style or new/ modern are both very desirable. The main thing is that finishes on the interior need to be similar to the 1600-2500 sq. ft. homes buyers are used to seeing.

Many investors go for the higher end of $450,000 to $500,000 range to increase profits. The houses sell well, but as investors ourselves, we prefer the less risky option. We suggest the $177/ sq foot resale range building 1900 sq ft, 3 bedroom, 2.5 bath homes with 2 car garages. Very few homes in East Nashville have garages, so this is a major plus. This model fits the biggest buyer market and they sell quickly.

Some homes are attached, some detached, believe it or not, resale footage price is nearly the same. Using the same floor and exterior plans here is totally acceptable to buyers, classic style or new/ modern are both very desirable. The main thing is that finishes on the interior need to be similar to the 1600-2500 sq. ft. homes buyers are used to seeing.

Many investors go for the higher end of $450,000 to $500,000 range to increase profits. The houses sell well, but as investors ourselves, we prefer the less risky option. We suggest the $177/ sq foot resale range building 1900 sq ft, 3 bedroom, 2.5 bath homes with 2 car garages. Very few homes in East Nashville have garages, so this is a major plus. This model fits the biggest buyer market and they sell quickly.

Managment


Our management team is a group of professionals, whose backgrounds consist of many years of experience in management of resources and facilities as well as many years of marketing of various products.

GENERAL CONTRACTOR:  Tom Bucchino

Tom has been providing superior craftsmanship for over 45 years.  Tom is a third generation custom homebuilder and remodeling contractor. Tom learned from his grandfather and father to begin a job and complete it before starting another job, and this is how he runs his jobs today.   Tom is a hands-on GC that you can expect to see on the job site every day.  No matter how big or small the job is, Tom applies the same attention to detail and quality craftsmanship every time priding himself with the ability and knowledge to assist or complete every trade job in the home construction field.  If needed, Tom can personally build the cabinets, trim the home, complete the sheet rock, hang the fixtures or put in the plumbing.  Tom is able to spot problems long before they become a problem without interrupting the daily traffic pattern.  Tom knows how to design luxury homes with all the amenities that today’s buyers expect.  What Tom has heard the most from all his customers is, “ Wow I did not expect to see you working here every day.”

DEVELOPER/PROJECT MANAGER:  Greg Garner, PMP, MBA, ITIL

Greg Garner brings an entrepreneurial spirit and a level of detail needed to complete each project and ensure we remain profitable.  He is a highly motivated individual with executive level experience directing and managing large groups and projects, enabling client companies to become more efficient, saving valuable time and resources.

REALTOR:  Ashli Williams

I’d love to have the exclusive listing for all your re-sale’s and exchange for this, I’m available to you start to finish for all your design/finish needs/assistance etc. I reduce my commission for all resale investors.  I’ve been renovating here in East Nashville exclusively for 3 years full time.  I’ve done 25 renovations myself and they’ve all sold at my desired resale or higher. Tom is my recomended contractor, awesome and always gets the job done beautifully and on time.

Location