New Listing

Primrose Ln

Name: Meridian Pacific Properties | Real Estate Investment Rentals in Memphis
Address: 2760 Colony Park Drive, Suite 103, Memphis, TN, 38118, US
Telephone: (901) 300-2260
Price range: $300,000 - $500,000

Somerville,

38068

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🛏️ 5 Bedrooms

🛁 3 Baths

🏠 1957 SF

🔨 Built in 2025

📐 Dove Front Load A – 1548A

🏡 Subdivision – Hedge Rose

📌 Lot 169

Property Description

This new construction investment home on Primrose Ln in Somerville 38068 features the Finch Front Load A plan: a well-proportioned 4-bed, 2.5-bath layout with approximately 1,957 square feet designed for long-term durability and everyday usability. The main level brings the kitchen, dining, and living areas together for efficient circulation and sightlines—ideal for modern renters—while the second level separates the bedrooms for privacy and quiet.

Energy-saving systems, insulated Low-E windows, and robust attic and wall insulation help control utility costs. Interior finishes emphasize longevity and easy turns between tenancies: luxury vinyl plank in high-traffic areas, tile in baths, hard-wearing paint, shaker cabinetry with granite options, and a stainless appliance package. A vented microwave hood, garbage disposal, and pantry support daily function, while a 42-inch electric fireplace and designer lighting provide a polished, move-in-ready feel without adding maintenance complexity. Exterior materials combine brick and fiber-cement siding, with gutters, a keyed garage entry, and landscaped yards engineered for straightforward upkeep.

Hedge Rose is a master-planned setting with modern infrastructure, consistent streetscapes, and convenient access to Highway 64 and the greater Memphis logistics network. From this Fayette County location, residents can reach employment centers in Oakland, Arlington, and the Memphis industrial corridor, including distribution, health care, and advanced manufacturing nodes. Somerville’s town center, parks, and nearby services support daily convenience, while the broader Memphis MSA offers steady population inflows, diverse employers, and an established rental base that favors thoughtfully built single-family homes. Professionally managed with Meridian’s local team—and eligible for Meridian’s rent warranty program—this Class A, turnkey property is positioned to deliver predictable operations, efficient maintenance, and competitive renter appeal in a stable, growth-oriented submarket.

Features + Upgrades

LVP Flooring in common areas
Carpet in bedrooms
LVT tile in bathrooms
Flat paint
Backsplashes available (upgrade)
Granite or quartz (upgrade) countertops
Cultured marble bathroom countertops
9′ or 10′ ceilings
Designer Lighting Package
Moen Designer Plumbing Package
Stainless steel dishwasher, microwave, electric range
Electric fireplace with modern mantle

📋

Incentives for Investors

Limited time offer. Call (901) 300-2260 to lock in your savings.

Speak with an investment property advisor.

Brian Conlon, Business Development

📊 Investment Overview

Buy this property for $364,000 and earn $2,300 per month in estimated rent.

Initial Investment

Purchase Price:

$380,000

Down Payment (30%):

$150,000

Closing Costs & Fees:

$6,000

Total Cash Investment:

$156,000

Financing Details

Loan Amount (70%):

$300,000

Mortgage Rate:

6.25%

Monthly Mortgage Payment:

$2400

Annual Mortgage Payment:

$22,000

Annual Expenses

Property Taxes:

$1579.50

Insurance Premium:

$725

HOA Fees:

$200

Vacancy Loss:

$200

Maintenance Costs:

$200

Property Management:

$200

Total Annual Expenses:

$27,000

Projected Income

Estimated Monthly Rent:

$2,600

$36,000

Monthly Before Tax Cash Flow :

$6,000

Annual Before Tax Cash Flow :

$6,000

Net Operating Income (NOI) :

$6,000

Metrics & ROI

10-Year Internal Rate of Return:

11.9%

10-Year Avg. Cash-On-Cash ROI:

3.9%

Cash-On-Cash ROI + Debt Paydown ROI:

7.4%

Capitalization Rate (First Year):

5.9%

Real Estate Value in 10 Years:

$9000

Economic Assumptions

Year:

Y10

Vacancy Rate (% of GSI):

Maintenance Rate (% of GOI):

Property Mgmt Rate (% of GOI):

10%

Property Appreciation Rate:

Rent Appreciation Rate:

3.5%

Expense Inflation Rate:

Sales Cost Rate (% of Price):

Vacancy Rate (% of GSI):

Maintenance Rate (% of GOI):

Property Mgmt Rate (% of GOI):

10%

Property Appreciation Rate:

Rent Appreciation Rate:

3.5%

Expense Inflation Rate:

Sales Cost Rate (% of Price):

INITIAL INVESTMENT

Purchase Price

Closing Costs & Fees

Down Payment

50%

Mortgage Rate
(30 Yr Fixed)

50%

INCOME AND EXPENSES

Monthly Rent*

Annual Property Tax

Annual Insurance Premium

Annual HOA Fees

ECONOMIC ASSUMPTIONS

Mode: SIMPLE

Vacancy Rate (% of GSI)

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Maintenance Rate (% of GOI)

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INVESTMENT AND DEBT SERVICE CALCULATIONS

Property Purchase Price

Down Payment

Closing Costs & Fees

Total Cash Investment

DEBT SERVICE SUMMARY

Amount Financed

Debt Service (P&I), Monthly

Debt Service (P&I), Annual

KEY FINANCIAL RATIOS (RETURN ON INVESTMENT)

10-Year Average Cash-On-Cash ROI

Avg 10-Year CoC

Cash-On-Cash ROI + Debt Paydown ROI

Avg 10-Year CoC + Debt Paydown ROI, Excl. Appreciation

Capitalization Rate (First Year)

First Year Net Operating Income ÷ Purchase Price

10-Year Internal Rate of Return

IRR per Year

About These Calculations

All numbers are estimates for illustration only and not guaranteed. Actual performance, pricing, and rent may vary. This is not a commitment to sell or invest. Please consult your financial advisor. We expect the rent to be within $50 of the estimated rent. Meridian helps to protect the rental income for our investors through our rent warranty program.

Investment Property Report

120 Primrose Ln, Somerville, TN 38068

Property Details

Property Description

second level separates the bedrooms for privacy and quiet. Energy-saving systems, insulated Low-E windows, and robust attic and wall insulation help control utility costs. Interior finishes emphasize longevity and easy turns between tenancies: luxury vinyl plank in high-traffic areas, tile in baths, hard-wearing paint, shaker cabinetry with granite options, and a stainless appliance package. A...

Property Type

Turnkey Rental

Start earning rental income immediately. This turnkey property will be move-in ready for tenants the day you close escrow. Our local property management team will take care of everything for you.

New Construction

This is a brand new home that has never been lived in. New construction homes typically have the highest overall ROI of any single-family rental property.

Build-to-Rent

Meridian’s build-to-rent properties are designed to attract and retain long-term tenants. We use durable materials, modern amenities, and open floor plans

Class A Property

This property is rated Class A. It is a top-tier property in a desirable neighborhood, featuring premium construction, modern finishes, and strong rental demand—ideal for stable appreciation and high-quality tenants.

Property Location

🏡 Subdivision - Hedge Rose
📌 Lot 169
📐 Floor Plan - Dove Front Load A - 1548A
🇺🇸 County - Fayette
🏦 $1,201 Annual Property Tax
🏡 $350 Annual HOA Fees

Interested in this property? Call or text (901) 300-2260 to speak to an investment advisor.

PRO FORMA

📍 120 Primrose Ln, Somerville, TN 38068

Buy this property for $364,000 and earn $2,300 per month in estimated rent.

Initial Investment

Purchase Price:

$380,000

Down Payment (30%):

$150,000

Closing Costs & Fees:

$6,000

Total Cash Investment:

$156,000

Financing Details

Loan Amount (70%):

$300,000

Mortgage Rate:

6.25%

Monthly Mortgage Payment:

$2400

Annual Mortgage Payment:

$22,000

Annual Expenses

Property Taxes:

$1579.50

Insurance Premium:

$725

HOA Fees:

$200

Vacancy Loss:

$200

Maintenance Costs:

$200

Property Management:

$200

Total Annual Expenses:

$27,000

Projected Income

Estimated Monthly Rent:

$2,600

$36,000

Monthly Before Tax Cash Flow :

$6,000

Annual Before Tax Cash Flow :

$6,000

Net Operating Income (NOI) :

$6,000

Metrics & ROI

10-Year Internal Rate of Return:

11.9%

10-Year Avg. Cash-On-Cash ROI:

3.9%

Cash-On-Cash ROI + Debt Paydown ROI:

7.4%

Capitalization Rate (First Year):

5.9%

Real Estate Value in 10 Years:

$9000

Economic Assumptions

Year:

Y10

Vacancy Rate (% of GSI):

Maintenance Rate (% of GOI):

Property Mgmt Rate (% of GOI):

10%

Property Appreciation Rate:

Rent Appreciation Rate:

3.5%

Expense Inflation Rate:

Sales Cost Rate (% of Price):

Vacancy Rate (% of GSI):

Maintenance Rate (% of GOI):

Property Mgmt Rate (% of GOI):

10%

Property Appreciation Rate:

Rent Appreciation Rate:

3.5%

Expense Inflation Rate:

Sales Cost Rate (% of Price):

Interested in this property? Call or text (901) 300-2260 to speak to an investment advisor.

Interested in this property?

Connect with a Meridian investment advisor to ask questions, evaluate the numbers, and explore how this property fits your goals. Theres no pressure — just expert guidance.

Invest In Somerville Real Estate

Properties / Tennessee / Somerville / Hedge Rose /

Conveniently located just east of Oakland off highway 64 with a current population of just over 2,500 residents.

An ideal choice for people relocating to the area to work for Ford Motor Company, SK On, their suppliers, or any other companies with operations in the region.

Quaint downtown is lined with local shops, and the town square is home to the Fayette County Courthouse.

The city offers both public and private education options for families with school-aged children. The University of Tennessee Martin Somerville Center offers a limited number of degree programs and access to college-level classes for high-school students.