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999 Scovel St
Nashville, TN

999 Scovel St

360K
1 bd • 1 ba • 784 sf

This analysis was generated by artificial intelligence on 2/26/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

AI Property Analysis

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List Price

$360,000

Price/Sq.Ft

$459

Year Built

2020

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Modern Construction: Built in 2020, the condo offers contemporary design and updated features, reducing the likelihood of costly repairs typically associated with older properties. • Desirable Location: Situated in Ludlow Flats, the property is within walking distance to Germantown and close to downtown Nashville, providing convenient access to dining, entertainment, and employment opportunities. The walkability score is a major selling point. • Turn-Key Condition: The unit is described as turn-key, indicating it is move-in ready and requires minimal immediate updates or repairs. The seller recently painted and installed smart light switches, adding value for potential buyers. • Functional Layout: The unit features a spacious one-bedroom layout with a flex space/office, offering versatility for various living arrangements and work-from-home needs. • Building Amenities: The building includes an elevator and a rooftop grill with skyline views, enhancing the living experience and providing social opportunities.

The Bad

• Low School Ratings: The assigned schools (Jones Elementary, John Early Middle, Pearl Cohn High) have low ratings (2/10 and 3/10), which may deter buyers with children who prioritize academic performance. This could affect the property's resale value. • Days on Market: The property has been on the market for 83 days, which is above average for comparable condos in the area. This may indicate pricing issues or other factors affecting buyer interest. • Price Reductions: The recent price change (-2.7% decrease) suggests that the initial listing price may have been too high. This could signal challenges in attracting buyers at the original price point. • Heat Risk: The heat risk is rated as major (6/10), with 7 hot days per year and a 98th percentile temperature of 105°F. This may increase energy costs for cooling and affect comfort during the summer months. • Limited Outdoor Space: While the unit has street access, it may lack significant private outdoor space, such as a balcony or patio. This could be a drawback for buyers who value outdoor living.

The Ugly

• Street Access Concerns: While street access can be convenient, it may also raise security concerns compared to units located on higher floors. Potential buyers should assess the safety of the surrounding area. • Limited Rental Potential: While the median rent for a one-bedroom apartment in Nashville is $1245, the monthly mortgage payment, property taxes, and HOA fees may exceed this amount, reducing the potential for positive cash flow if used as a rental property. • Low Insurance Coverage in HOA: While the HOA includes insurance, it is important to verify the extent of the coverage. Buyers should consider obtaining additional personal property insurance to protect their belongings. • School Zone Concerns: The assigned schools have low ratings (2/10 and 3/10), which could deter families with children and potentially impact resale value. This is a significant issue to consider. • High Price Per Square Foot: The price per square foot is $459.18, which is on the higher end compared to the Nashville average. This may make the property less attractive to buyers seeking value.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• First-time homebuyers seeking a modern, turn-key condo in a walkable urban setting. The unit's location in Ludlow Flats offers convenient access to Germantown and downtown Nashville, appealing to those who value city living and proximity to amenities. • Young professionals or individuals who work remotely and desire a dedicated flex space/office. The presence of a flex space provides versatility for work or hobbies, catering to those with flexible lifestyle needs. • Tech-savvy individuals who appreciate smart home features. The installed smart light switches compatible with Google and Alexa enhance convenience and align with modern technological preferences. • Buyers who prioritize building amenities and low-maintenance living. The inclusion of an elevator, rooftop grill, and HOA coverage for maintenance, insurance, and trash removal offer a hassle-free lifestyle. • Individuals who value sustainable transportation options. The walkability to Germantown and proximity to downtown Nashville support a reduced reliance on personal vehicles, aligning with eco-conscious lifestyles.

Not For

• Families with children requiring access to high-rated schools. The assigned schools (Jones Elementary: 2/10, John Early Middle: 3/10, Pearl Cohn High: 3/10) may not meet the needs of those prioritizing academic excellence. • Buyers seeking a larger living space or multiple bedrooms. The one-bedroom layout may not accommodate individuals or couples requiring additional space for family members or guests. • Individuals prioritizing quiet, suburban living. The urban location may not appeal to those seeking a tranquil environment away from the activity of the city. • Buyers with limited budgets who are sensitive to HOA fees. While the HOA covers essential services, the monthly fees add to the overall cost of ownership and may strain tight budgets. • Those who need guaranteed parking. On-street access may present parking challenges at times.
Demographics
Area Median Income

$54,296

Property History

Price History
Ownership Timeline
$315,000Financed
May 14, 2021
Lflats LlcMatthew Zahn
Warranty Deed
Standard Sale (Purchase/Resales)

Property Taxes

$2,744
2023 Tax Assessment
0.0%from previous year
Assessed Value$84,325
Tax Rate3.25%

Market Insights

Real-time analysis of the local housing market

January 2025
Buyer's Market

In 37208, buyers currently have an advantage. Home prices are trending lower than usual and properties are staying on the market longer, giving you more options and better negotiating power.

$545,000
$308/sqft
0.9%
Change from last month
Your price: $360K (-34%)
Your price/sqft: $459/sqft (+49%)
151
7 sold last month
23.8%
Change from last month
65 days
Average for homes in this area
83.7%
Change from last month
This property: 83 days (+28%)

Sale Price Distribution

Last month
0
Over Asking
homes
1
At Asking
homes
6
Under Asking
homes
Total: 7 homes sold

If you're buying a home in 37208, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.

Sale Time Distribution

Last month
2
Under 30 Days
homes
3
30-90 Days
homes
Your property
1
Over 90 Days
homes
Total: 6 homes sold

Avg time on Rocket Homes in 37208 has remained consistent over time.

Risk Assessment

Climate Risks

heatMAJOR

7 extreme heat days per year

98th percentile: 105°F

windMODERATE

Insurance: Recommended

airMINIMAL

1 bad air quality days per year

floodMINIMAL

FEMA Zone: Minimal Risk Area

Insurance: Optional

fireMINIMAL

Insurance: Optional

Risk Analysis

• Market Volatility: Nashville's real estate market has seen significant growth, but fluctuations can occur. Staying informed on market trends and potential shifts is essential for protecting the investment. • Limited Appreciation Potential: The property has already seen some price appreciation since it was built in 2020. While further appreciation is possible, the rate of increase may slow down compared to previous years. • HOA Fee Increases: HOA fees can increase over time due to rising maintenance costs or additional services. This can impact the overall cost of ownership and should be factored into long-term financial planning. • Heat Risk: The major heat risk (6/10) indicates that the property is likely to experience high temperatures during the summer months. Consider the potential impact on energy bills and the need for effective cooling systems. • School Quality: The assigned schools have low ratings (2/10 and 3/10), which could impact resale value if future buyers prioritize school quality.
Insurance
Annual Cost

$1,296

$108 per month

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Schools

Harpeth Valley Elementary School

PublicGrades K-4
7/10
Elementary
757 students

Buena Vista Elementary Enhanced Option

PublicGrades PK-4
4/10
Elementary
288 students

John Early Paideia Middle Magnet

PublicGrades 5-8
3/10
Middle
355 students

Pearl Cohn Magnet High School

PublicGrades 9-12
2/10
High
679 students

Financials

Monthly Costs
Market Rent (1 bed)

$1,245

Get a detailed estimate on Zillow®
HOA Fee

$239

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Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Subject Property

Price
$360,000
Price/sqft
$459
Layout
1 bd1 ba
Days on market
83 daysat time of analysis

Stats in the Area

Based on 6 comparable properties nearby

Average Price

$408,092

11.8%

Your price is 11.8% below average

Median Price

$400,000

10.0%

Based on 6 recent sales

Price per Sq.Ft

$549

16.4%

Your price is 16.4% below average $/sqft

Comparable Properties

700 Church St #1103, Nashville, TN 37203
Price: $395,000
Sq.Ft: 803
Beds/Baths: 1/1
$/Sq.Ft:
$4927.1%
Sale Date: 1/19/2025
700 Church St #603, Nashville, TN 37203
Price: $400,000
Sq.Ft: 786
Beds/Baths: 1/1
$/Sq.Ft:
$50910.8%
Sale Date: 1/6/2025
415 Church Street, Nashville, TN 37219
Price: $405,000
Sq.Ft: 732
Beds/Baths: 1/1
$/Sq.Ft:
$55320.5%
Sale Date: 12/26/2024
1350 Rosa L Parks Boulevard #339, Nashville, TN 37208
Price: $369,900
Sq.Ft: 675
Beds/Baths: 1/1
$/Sq.Ft:
$54819.3%
Sale Date: 1/1/2025
1219 4th Ave N, Nashville, TN 37208
Price: $493,750
Sq.Ft: 769
Beds/Baths: 1/1
$/Sq.Ft:
$64239.8%
Sale Date: 11/18/2024
610 21st Ave N #304, Nashville, TN 37203
Price: $384,900
Sq.Ft: 700
Beds/Baths: 1/1
$/Sq.Ft:
$55019.7%
Sale Date: 11/8/2024

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