402 Lynnwood • Nashville, TN (Belle Meade)
Deal Analysis
Purchase Price: $1,315,000
Rehab Cost: $495,000
After Rehab Value: $2,600,000
Projected Time Frame:14 months
Projected ROI Investors & Lenders: $315,125
Existing Property Details
Year Built:1945
Total Sq Ft:3,128
Bed/Bath: 4 Bd / 3 Ba
Lot Size:.52 acres
Existing Property Highlights
This is a beautiful home that was custom built back in 1940. Great care was given to overall construction home and currently offers us a great foundation to start with. It sits on a very well manicured and cared for .5 acre lot. This brick home boasts 5 bd / 3 ba with a finished basement to boot. 2 existing additions give this property over 3,000 of “above grade” square footage. It sits in the heart of WestMeade, which currently has a median sales price of $952,000.
Area Highlights
Belle Meade is full of beautiful, historic architecture. Each and every home has a unique story to tell with grand features, diverse visuals, and all the charm anyone could ask for. Surrounded by horse farms, wineries, historic mansions, etc makes this area one of the most sought after in all of middle TN.
Renovation Details
Currently, we are waiting on the surveyor to get a boundary survey completed, which will then allow our architect to draw up new plans. Plans will consist of adding maximum footage to the north side of the home enabling us to create a large primary suite on the main floor. We will also further open up the kitchen to the rear, den addition. A power bath & laundry will be created along the side door entrance. Lastly, we will create a deck connecting primary suite & den to allow for stairs down to the backyard. A 2 car, detached garage will also be built. Beyond this construction, the entire house will receive the full gamut of updated finishes including, countertops, fixtures, hardwood flooring, showers, etc. We plan to finish with closer to 3,500 sq ft and already have an ARV appraisal in hand for over 2 million with a buyer already showing interest.
Let's get started!
Use this form to contact the Benton Group or call us at 615.200.8706
