Sold

Primrose

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

💰 Sign in to view price

📆 Sign in to view rent

🛏️ 4 Bedrooms

🛁 2.5 Baths

🏠 1957 SF

Property Description

100 Primrose in the Hedge Rose community of Somerville offers investors an exceptional opportunity to own a high-performing, low-maintenance asset within the thriving Greater Memphis market. This newly built Finch Front Load B plan spans approximately 1,270 square feet and features a well-balanced 4-bedroom, 2.5-bath layout that appeals to long-term tenants seeking comfort, functionality, and modern living. Thoughtful design choices—such as open-concept living areas, durable flooring, energy-efficient systems, and quality finishes—help minimize maintenance costs while enhancing overall tenant satisfaction.

The Finch plan’s efficient footprint ensures ease of upkeep and consistent rental demand, while the home’s new construction status offers investors reduced capital expenditures in the coming years. With its professional management and Meridian’s rent warranty program, this property delivers a turnkey investment experience focused on reliability and peace of mind.

Hedge Rose is a desirable residential enclave in Somerville, a growing suburb known for its balance of small-town charm and access to the amenities of the Memphis metropolitan area. Residents benefit from proximity to quality schools, parks, and community spaces, while being just a short drive from major employment centers, retail, and services throughout Fayette County and eastern Shelby County. Somerville continues to attract renters looking for newer homes and suburban tranquility with convenient access to the greater Memphis job market and transportation network.

For investors seeking a stable, professionally managed, Class A single-family rental in a high-demand corridor, 100 Primrose represents an attractive addition to a diversified real estate portfolio—combining strong market fundamentals, modern construction, and long-term operational efficiency in one of the most promising suburban growth areas near Memphis.

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 $342,000 and earn $2,150 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)

% Advanced +

Year 1%

Year 2%

Year 3%

Year 4%

Year 5%

Year 6%

Year 7%

Year 8%

Year 9%

Year 10%

Maintenance Rate (% of GOI)

% Advanced +

Year 1%

Year 2%

Year 3%

Year 4%

Year 5%

Year 6%

Year 7%

Year 8%

Year 9%

Year 10%

Property Mgmt Rate (% of GOI)

% Advanced +

Year 1%

Year 2%

Year 3%

Year 4%

Year 5%

Year 6%

Year 7%

Year 8%

Year 9%

Year 10%

Property Appreciation Rate

% Advanced +

Year 1%

Year 2%

Year 3%

Year 4%

Year 5%

Year 6%

Year 7%

Year 8%

Year 9%

Year 10%

Rent Appreciation Rate

% Advanced +

Year 1%

Year 2%

Year 3%

Year 4%

Year5%

Year 6%

Year 7%

Year 8%

Year 9%

Year 10%

Expense Inflation Rate

% Advanced +

Year 1%

Year 2%

Year 3%

Year 4%

Year 5%

Year 6%

Year 7%

Year 8%

Year 9%

Year 10%

Sales Cost Rate (% of Price)

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

100 Primrose, Somerville, TN 38068

Property Details

Property Description

modern living. Thoughtful design choices—such as open-concept living areas, durable flooring, energy-efficient systems, and quality finishes—help minimize maintenance costs while enhancing overall tenant satisfaction. The Finch plan’s efficient footprint ensures ease of upkeep and consistent rental demand, while the home’s new construction status offers investors reduced capital expenditures in the coming years. With its professional management...

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 171
🌳 2,025 SF Lot
📐 Floor Plan - Finch Front Load B - 1270B
🇺🇸 County - Fayette
🏦 $1,129 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

📍 100 Primrose, Somerville, TN 38068

Buy this property for $342,000 and earn $2,150 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.