It’s no secret that Nashville has developed exponentially over the last few years.Not only is it the capital of Tennessee, it is also the home of a rich music scene. It has maintained its cultural roots even with recent population growth, which is an attractive feature for many locals and new residents alike.The economy of Nashville is also thriving and continues to grow. The Milken Institute ranked Nashville as number four on the list of best performing large cities in 2023. With relatively steady rental rates and a population that has been increasing over the last several years, investors may be looking for ways to tap into the market.However, it is an expansive city with many different areas to choose from, some that investors may not even be aware of. In this article, we’ll list the best places to invest in Nashville and what type of properties, neighborhoods, and price ranges you can expect there.
#1: Antioch, Davidson County, TN
At number one, we have Antioch, Tennessee.
Where is it located?
Antioch is located in the Southeast section of Nashville. It’s a mere 20 minute drive from the heart of Nashville, making it a suitable option for residents who may work or play in the city. Currently, there are many working class residents in Antioch, who are commuting in and out of Nashville on a daily basis.
What type of properties are available there?
The typical properties you’ll find there are B-class homes. They’re not newer constructions, but can still make a profitable investment property. Typically, you’ll find properties that are a three-bedroom, one-bathroom type of layout.The average home price in Antioch is lower than the overall Nashville area average, which makes it a promising place for investors who are searching for an affordable entry point.
What other benefits are there?
Antioch is right off of the I-24 freeway, providing easy commuting access for working residents.Since more residents are moving to Nashville, there has been large development in Antioch, including shopping centers, restaurants, and recreational facilities. There’s also a strong sense of community in Antioch, a wide range of cuisine options, as well as theaters and galleries. Close by is Antioch Park, which includes hiking trails and other recreational activities.
#2: East Nashville
The second area in our list of the best places to invest in Nashville is East Nashville.
Where is it located?
East Nashville is just as the name implies – east of Nashville. The areas that may be more recognizable are Inglewood, Robebank, and Maplewood Heights. Some other well-known nearby establishments are the Opryland Hotel and Convention Center. Out of all the locations on this list, East Nashville is the closest to downtown. It’s also close to Vanderbilt University.
What type of properties are available there?
East Nashville is an area where you’ll find a mixture of classes. There are many A-class properties, since investors have flipped quite a few homes here. However, there are still D-class neighborhoods that are also in high demand. Properties at this location come at a higher price-point, and it may be difficult for investors to get their foot in the door as homes are being bought up quickly. But, if you can swing it, there properties are still great investments!
What other benefits are there?
East Nashville, Tennessee, is home to a vibrant local culture and community. The area experiences high rental demand due to its desirable location. That’s because the atmosphere is attractive for both locals and prospective residents. The area also provides excellent food and entertainment, as well as all the conveniences that any resident might need.
#3: Bellevue, Nashville, TN
Another great place to invest is in Bellevue, Tennessee.
Where is it located?
While Bellevie is about a 20-30 minute commute from downtown, one of its most attractive features is that it’s west of Percy Warner Park. This gives it a nature-heavy feel while only being a short drive away from the vibrant city.
What type of properties are available there?
Typically, you’ll find A- to B+ properties in Bellevue. Keep in mind that they may cost more up-front, but will also generate higher rental income compared to a B-class property or below. But, there are also townhomes and condos that are more easily attainable investments.They’re older construction, so come at a lower price point. Either way, though, you should expect to pay more when compared to areas like Madison or Antioch.
What other benefits are there?
Since it’s farther from Nashville, it offers a more suburban and naturalistic lifestyle compared to the city. There are plenty of recreational amenities available, such as hiking and nature exploration.It has also seen significant growth over the last several years as more residents continue to move there.Bellevue is well connected to major highways including Interstate 40 and Highway 70, which may be an appealing aspect for commuters.
#4: Madison, TN
The fourth area on our list of the best places to invest in Nashville is Madison, Tennessee.
Where is it located?
You’ll find Madison, Tennessee, north of East Nashville. It’s a short 20-minute drive from downtown and is situated along the Cumberland River. This location is one that investors may want to keep their eye on, since development is likely to spread there. Nashville is growing quickly, and Madison very well may be the next spot that the growing population will move to.
What type of properties are available there?
Madison is another more affordable area for investors. The properties you can expect to find there are in the B and C classes. Madison has a lower average home price compared to the greater Nashville area. The types of homes you might find are three-bedroom, one-bath, or three-bedroom, two-bath. It is worth mentioning that the more affordable and fixer-upper homes are being bought up fast, so investors may need to act quickly in order to secure a good deal.
What other benefits are there?
Madison is primarily a residential area, but only a short drive away from many state parks, downtown Nashville, and culturally rich areas, making it a great spot for renters who want quick access to various amenities while still living in a quieter area. Madison is also seeing steady appreciation, with prices growing steadily over time. This means investors may see profits not only through renting but also by holding the property and selling it down the line.
#5: Brentwood and Franklin
The final two locations on the list are Brentwood and Franklin, Tennessee.
Where is it located?
Brentwood is about 20 minutes south of downtown Nashville, while Franklin is an additional 15 minutes further in the same direction.
What type of properties are available there?
These areas house A++ level properties, so it can be difficult for investors to find a reasonable entry-level price point.However, the higher home prices come with a higher rental rate price, which can lead to greater returns.The neighborhoods typically come with a higher quality of living, strong sense of community, and great school options, which make them desirable areas for residents.
What other benefits are there?
Brentwood and Franklin are both areas that attract affluent residents. In Brentwood alone, the average household income is nearly double that of the national average. Franklin in particular has its own unique culture. The downtown area has an “old-town” feel, and there are plenty of activities for residents to enjoy.
Final Thoughts
Nashville has plenty of areas for investors to choose from with a variety of features, price points, and cultures.Among the best places to invest in Nashville, investors can expect to find mid-level B class properties, all the way up to those in the A++ class, which provides both more affordable options and higher income opportunities.Each area, at its own distance from downtown, also has its very own subculture. Investors can expect to find affluent neighborhoods, culturally rich and historical scenes, and suburban nature havens. Long story short: They each have their own unique pros and cons. To get the best feel for where you’d like to invest, it always helps to talk to an expert who has boots-on-the-ground knowledge and knows each neighborhood like the back of their hand.Our Nashville team is always happy to help and answer any questions you might have. If you’d like to learn more about the Nashville market as a whole, including population insight, renal market trends, and more, download our Nashville Market Deep Dive.
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