Franklin, TN · Member since 2017 · 3 posts · 0 votes
I moved to the Franklin, TN area a few months ago and am champing at the bit to get started in rental property investing. The numbers don't seem to work well for rentals in Nashville/Franklin and it looks like the market varies greatly mile by mile. Have any of you had any luck in the Fairview, Pegram, Dickson, and other outlying areas? Any advice would be greatly appreciated. Thanks! - Charlie
The numbers work in the right area. Nashville is very hard to find a good deal and once you find it its not easy to capitalize on it.
You're on the right track as far as looking at the surrounding cities. There are plenty that are still affordable and have lots of room for growth, including all the ones you mentioned above!
Another area to look at if you are wanting to stay close to Nashville and is still somewhat affordable is Bordeaux area. I'm looking at a few units there currently that make a lot more sense than areas like east Nashville or any of these other saturated areas.
In the last year Dickson county has seen a growth of 16.29% at number 9 of 14 in Mid TN counties. Avg sales price in Dickson this last quarter was 141k.
Cheatham County which is where Pegram is, has seen 91.18% growth in the last year, leading the counties in Mid TN in growth (these counties are compared to themselves not to other counties). Avg Sales price in Cheatham this last quarter was 257k compared to Davidson county at 349k and Williamson (Franklin) at 479k.
Feel free to reach out to me if you want to get more info, meet up and find out where the best investment deals are in and around Nashville. I'd love to help you man!
The numbers work in the right area. Nashville is very hard to find a good deal and once you find it its not easy to capitalize on it.
You're on the right track as far as looking at the surrounding cities. There are plenty that are still affordable and have lots of room for growth, including all the ones you mentioned above!
Another area to look at if you are wanting to stay close to Nashville and is still somewhat affordable is Bordeaux area. I'm looking at a few units there currently that make a lot more sense than areas like east Nashville or any of these other saturated areas.
In the last year Dickson county has seen a growth of 16.29% at number 9 of 14 in Mid TN counties. Avg sales price in Dickson this last quarter was 141k.
Cheatham County which is where Pegram is, has seen 91.18% growth in the last year, leading the counties in Mid TN in growth (these counties are compared to themselves not to other counties). Avg Sales price in Cheatham this last quarter was 257k compared to Davidson county at 349k and Williamson (Franklin) at 479k.
Feel free to reach out to me if you want to get more info, meet up and find out where the best investment deals are in and around Nashville. I'd love to help you man!
@Kimberly Fong Thank you! I love the area, but I know opportunities exist not too far from here. Some of the surrounding areas are very hit and miss with the schools.
You are correct about the market varying widely mile to mile around here! There are deals to be had in North Nashville, but again you have to be picky about which specific street and neighborhood whichever property you're looking at is on. It makes the preliminary research phase of deal finding a few hour long process per property, if you really want to get into it.
That being said, there's some great opportunity in Columbia and some still in Spring Hill, and in the surrounding areas- but there is opportunity for great appreciation anywhere along i65 IMO- though you'll have a hard time finding many deals with a high Cash flow.
Hi welcome to the area! Deals are around but the entry point varies from area to area as well as competition level. Dickson, Gallatin, Murfreesboro, Spring Hill, Columbia, and similar areas might be good to research and start there. Come to some of the area REI meetups and you can learn a lot about who works where and how to find some properties in different areas. Good luck!!