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Primrose Lane

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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🛏️ 0 Bedrooms

🛁 0 Baths

🏠 2200 SF

📐 Model –

🏡 Subdivision – Hedge Rose

🌳 14935 SF Lot

🔨 Built in 2024

🏦 $1,188 Annual Property Tax

🛡️ $725 Insurance Premium

Property Description

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

📋

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 $359,900 and earn $0 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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Property Mgmt Rate (% of GOI)

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Property Appreciation Rate

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Rent Appreciation Rate

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Sales Cost Rate (% of Price)

INVESTMENT AND DEBT SERVICE CALCULATIONS

Property Purchase Price

Down Payment

Closing Costs & Fees

Total Cash Investment

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

Avg Tax Adjusted CoC ROI*

10-Year Avg. Cash-On-Cash ROI adjusted for taxes

Capitalization Rate (First Year)

First Year Net Operating Income ÷ Purchase Price

10-Year Internal Rate of Return

IRR per Year

DEBT SERVICE SUMMARY

Amount Financed

Debt Service (P&I), Monthly

Debt Service (P&I), Annual

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

75 Primrose Lane, Somerville, TN 38068

Property Details

Property Description

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 160
🌳 14,935 SF Lot
🇺🇸 County - Fayette
🏦 $1,188 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

📍 75 Primrose Lane, Somerville, TN 38068

Buy this property for $359,900 and earn $0 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 Hedge Rose in Somerville, Tennessee.

Somerville Tennessee Tn Fayette County Downtown Rendering

Somerville , TN

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

Somerville Market Analysis

🏢 3,300 Population

💵 $255,000 Median Home Price

🛣️ 45 miles from Memphis

📊 Properties Available: 1

Subdivision: Hedge Rose

Hedge Rose is a newer subdivision in Somerville, Tennessee, set within a larger, established community that continues to expand through multiple phases. The overall neighborhood is of meaningful scale, with prior phases already built out and additional development underway, including current construction in Phase 4 and planned expansion into Phase 5. This phased growth contributes to a more established feel compared to smaller, one-off developments, while still offering newer construction opportunities.

Homes typically range from approximately 1,800 to 2,500 square feet with 4+ bedroom layouts, providing functional designs that support consistent leasing demand. Lot sizes between a quarter and half acre create a more open, usable setting than higher-density subdivisions, contributing to a quieter, more spacious environment. The community has historically attracted residents seeking a more relaxed pace and well-kept surroundings, reinforcing its reputation as a stable and desirable neighborhood within the Somerville area.

Construction emphasizes durability and ease of ownership, with features such as luxury vinyl plank flooring in main areas, tile in wet spaces, solid-surface countertops, and energy-efficient systems. Standard inclusions like 9 to 10 foot ceilings and modern appliance packages help maintain competitive positioning while managing long-term maintenance exposure.

Located in Fayette County, Hedge Rose benefits from a low property tax structure and direct access to Highway 64, connecting the area to the growing eastern Memphis employment corridor, including BlueOval City and its expanding supplier network. This combination of community scale, newer construction, and regional growth supports steady housing demand and long-term investment stability.

🛏️ 4+ Bedrooms

🛁 2.5+ Baths

🏠 1,808-2,505 Square Feet

📐 14 Floor plans

🌳 ¼ - ½ Acre Lots Acre lots

🏦 0.3741% Tax

📬 $350 HOA

🛡️ $750 Insurance