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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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🛏️ 4 Bedrooms

🛁 2.5 Baths

🏠 1957 SF

📐 Model –

🔨 Built in 2025

🏦 $0 Annual Property Tax

🛡️ $750 Insurance Premium

Property Description

This Primrose home represents an exceptional opportunity for investors seeking a low-maintenance, income-producing asset in one of the Memphis MSA’s most stable and steadily growing suburban markets. Located in the Hedge Rose community of Somerville, this new construction home features the Finch Front Load A plan — a thoughtfully designed 4-bedroom, 2.5-bath layout that maximizes livability and long-term tenant appeal. With approximately 1,270 square feet of modern, efficient living space, the home offers the kind of quality and functionality that supports strong retention and consistent performance over time.

Inside, the open-concept layout is ideal for today’s renters, featuring durable finishes, energy-efficient systems, and a design that balances comfort and practicality. The main level’s seamless flow between the kitchen, dining, and living areas encourages connection and ease of use, while the upstairs bedrooms provide privacy and space for families or working professionals. Smart construction standards and durable materials reduce ongoing maintenance needs — a key benefit for investors prioritizing predictable operating costs and asset longevity.

Set within Hedge Rose, a peaceful, master-planned neighborhood, this property benefits from modern infrastructure, well-maintained common areas, and proximity to schools, parks, and local amenities. Somerville continues to draw residents seeking more space and value within easy reach of Memphis’ employment centers, logistics corridors, and major highways, supporting a stable tenant base and long-term rental demand.

As part of Meridian’s professionally managed portfolio, this Primrose property is a turnkey investment in a Class A community designed for both performance and peace of mind. The combination of new construction quality, reliable management, and the strength of the greater Memphis real estate market makes this property a compelling option for out-of-state and 1031 exchange investors seeking sustainable returns in a proven growth corridor.

Features + Upgrades

📋

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.

📊 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)

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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

110 Primrose Ln, Somerville, 38068

Property Details

Property Description

livability and long-term tenant appeal. With approximately 1,270 square feet of modern, efficient living space, the home offers the kind of quality and functionality that supports strong retention and consistent performance over time. Inside, the open-concept layout is ideal for today’s renters, featuring durable finishes, energy-efficient systems, and a design that balances comfort and practicality. The...

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

📌 Lot 170
🇺🇸 County - Fayette
🏦 $0 Annual Property Tax

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

PRO FORMA

📍 110 Primrose Ln, Somerville, 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.

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

Investing In Somerville Real Estate

As the developer, Meridian can build investment properties anywhere we want. We carefully identify suburban submarkets that are likely to yield strong returns. We look for prime locations, stand out rankings, and close proximity to major employers. This is why we built the subdivision of this subdivision in Somerville, Tennessee.

City: Somerville

Municipal seat of Fayette County
Minutes from Oakland’s shopping with a population of ~2,500 residents
25-minute commute to Ford-SK On’s BlueOval City manufacturing mega-site
Established community in a peaceful, rural setting just one hour from downtown Memphis
Low property taxes with some of the best returns our clients have realized
Quaint downtown area and amenities within minutes
The University of Tennessee Martin Somerville Center is nearby
Show More

Somerville, Tennessee is a growing community located in Fayette County, about 45 miles east of Memphis and just a short drive from the rapidly developing BlueOval City in Stanton. With a population of slightly over 2,500 residents, Somerville maintains a small-town character while offering access to some of the most significant new industrial and economic investments in West Tennessee. Positioned along Highway 64, the town provides convenient commuting routes to nearby employment centers, including Ford Motor Company’s BlueOval City, SK On, and their supplier network. These large-scale projects are creating thousands of new jobs across the region, generating new demand for quality housing and long-term rentals in nearby communities like Somerville.

The area’s appeal is built on a mix of affordability, access, and steady local growth. Fayette County’s property tax rates are among the lowest in the Memphis metropolitan area, offering investors one of the most cost-efficient ownership environments in the Mid-South. The local housing market features a balance of new construction and established neighborhoods, with median home prices still well below national averages. This pricing advantage, combined with strong regional job creation and limited new supply, supports continued property appreciation and attractive rent-to-price ratios for single-family investors. Housing demand is supported not only by employment growth but also by migration patterns favoring the Memphis MSA, as workers seek affordable, accessible places to live within commuting distance of industrial corridors and major distribution centers.

Somerville serves as the county seat of Fayette County, giving it an administrative and economic role beyond its size. The town square is anchored by the historic Fayette County Courthouse and surrounded by local shops, restaurants, and small businesses that contribute to the city’s sense of continuity and stability. As population growth continues throughout the county, Somerville is seeing measured commercial and residential expansion, ensuring access to essential services while maintaining a manageable pace of development. Fayette County’s overall economy continues to diversify, supported by logistics, light manufacturing, education, and healthcare, and strengthened by its proximity to major employers in Memphis and the broader region.

Education and local infrastructure further enhance the city’s stability. The community is served by both public and private school options, and the University of Tennessee Martin Somerville Center offers access to college-level programs and continuing education courses. This provides educational opportunities for residents and helps maintain a qualified workforce for the area’s growing industrial and service sectors. Parks, public spaces, and community facilities are maintained through local investment, reflecting the city’s focus on steady improvement and livability. The surrounding landscape of rolling farmland, lakes, and open space contributes to a relaxed environment while remaining within an easy drive of Memphis-area retail, entertainment, and healthcare options.

For investors, Somerville represents a promising opportunity within the Memphis metro’s expanding eastern corridor. Its proximity to major industrial developments, low ownership costs, and steady market fundamentals make it well positioned for both income and long-term appreciation. With clear economic catalysts, an improving infrastructure base, and the affordability that underpins sustainable growth, Somerville is emerging as one of West Tennessee’s most compelling submarkets for new construction and single-family rental investment.

redfin.com/city/18106/TN/Somerville/housing-market
datausa.io/profile/geo/somerville-tn
worldpopulationreview.com/us-cities/tennessee/somerville
nashvillesmls.com/blog/counties-with-lowest-property-taxes-tennessee.html
ttnews.com/articles/blueoval-city-tennessee
utm.edu/centers/somerville