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Pending

390 Azalea Drive

Somerville, TN 38068
4 Bedrooms
2.5 Baths
2,300 S.F.
0.29 Acres

Buy this property for $353,900 and earn $2,125 per month in estimated rent.

This featured home represents the floor plan. Actual front elevation, color, and finishes may vary. For more information, please contact a sales agent.

About

The Sapphire welcomes a return to tradition with its combination of intentionally designed indoor and outdoor spaces. Hallmarks of the plan are a rear-load garage and an inviting front patio, which is the perfect spot for relaxing in your favorite wooden rocker or getting caught up with a neighbor over a refreshing glass of lemonade on a warm summer evening. Inside the home, you’ll find a calming color palette. The generously sized family room flows into a formal dining room/library/home office, which connects to a modern chef's kitchen at the back of the home. Bathed in natural light, the kitchen features Shaker cabinets, granite countertops, stainless-steel appliances, a center island, and an eat-in area, as well as a door leading to the back patio. Away from the activity of the kitchen, you’ll discover a private primary suite and elegant ensuite bathroom with soaking tub and dual vanities. A laundry room and half bathroom complete the main level. Upstairs, there are three additional bedrooms and one full bathroom. If you’re a homebuyer who craves defined yet flexible spaces, the Sapphire awaits your personal touches.

Features

Flooring:
  • LVP flooring in common areas
  • Carpet in bedrooms
  • LVP flooring in bathrooms
Bathrooms:
  • Marble bathroom countertops
  • Double vanity
  • Separate tub and shower
  • Marble tub
Appliances:
  • Stainless steel dishwasher
  • Stainless steel microwave
  • Stainless steel electric range
  • Garbage disposal
  • EnergyStar™ rated appliance package
Kitchen:
  • Granite countertops
  • Eat-in kitchen
  • Kitchen island
  • Open floor plan
  • Kitchen/family room view
Construction:
  • New construction
  • Detached Single Family
  • 9' or 10' ceilings
  • Vaulted/coffered ceilings
  • Traditional architecture
  • Low emissivity windows
  • Garage doors and openers
Climate:
  • Electric Fireplace
  • Contemporary mantle
  • Central heating
  • Central air
  • Ceiling fans
  • Smart Hub 3® technology
Exterior:
  • Brick veneer exterior
  • Two-car attached garage
  • Backyard patio
  • Landscaped yard
  • Concrete driveway
  • Curbs and sidewalks

FIGURES

Buy for $353,900
Rents for $2,125
4 Bedrooms
2.5 Baths
2,300 S.F.
Floor Plan Model: Sapphire
, Elevation D
2 Levels
0.29 Acres
Built in 2023
2 Garage Spaces

ROOMS

  • 4 Bedrooms
  • 2.5 Baths
  • Entrance foyer
  • Laundry room
  • Family room
  • 2-car garage

eDUCATION

School District:
High School:
Middle School:
Elementary School:
School Rating:

utilities

  • Electricity connected
  • Natural gas connected
  • Public Sewer connected
  • Public Water connected

Investor Specials

  • Stainless steel refrigerator
  • Fenced back yard
  • 2" faux wood blinds

Investor Incentives

Contact Brian Conlon to learn about investor incentives not advertised online. Call Brian at (760) 798-3095 or email info@meridianpac.com.

lOCATION

  • 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.
  • County:
    Fayette
    City:
    Somerville
    State:
    TN
    Zipcode:
    38068
    Community:
    Hedge Rose
    Lot:
    144

    Get Directions

    Finances

    Sales Price:
    $353,900
    Annual City Tax:
    $1,201
    Annual HOA:
    $120 [ $10.00 per month]
    Annual Insurance Premium:
    $750

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    INVESTOR CALCULATOR

    PROPERTY INCOME AND OPERATING EXPENSE DATA
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    ECONOMIC MODELING ASSUMPTIONS (PER YEAR, FOR 10 YEARS)
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    In this section, you need to make some assumptions about the property as indicated to the right. Vacancy Rate: Percentage of Gross Scheduled Income (GSI) or total annual rents possible per year. Maintenance Rate: Percentage of Gross Operating Income (GOI), or the income the property receives after accounting for vacancy. Property Management Rate: Percentage of GOI, the amount of rents actually collected by the property manager. Property Appreciation Rate: Your expectation of how the property value will appreciate. Expense Inflation Rate: The general economic inflation percentage rate. Sales Costs: Costs associated with selling property when it is finally sold, including sales commissions and closing costs. This is a one-time expense.
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    INVESTMENT AND DEBT SERVICE CALCULATIONS
    ?
    Investment and debt service calculations: Based on the data entered above, the investor’s total cash investment, and the monthly and annual debt service is calculated here.
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    DEBT SERVICE SUMMARY
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    Investment and debt service calculations: Based on the data entered above, the investor’s total cash investment, and the monthly and annual debt service is calculated here.
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    KEY FINANCIAL RATIOS (RETURN ON INVESTMENT)
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    Key Financial Ratios are calculated as 10-year averages to the right based on the data entered above. 10-Year Average Cash on Cash ROI – ten year average of cash on cash (CoC) return.Cash-On-Cash ROI + Debt Pay Down – this is the combined return of the debt pay down and the cash on cash return.10-Year Average Capitalization Rate – 10 year average of annual Net Operating Income of the property divided by its purchase price. This is the approximate annual CoC return for an all-cash purchase.10-Year Internal Rate of Return (IRR) – the annual return accounting for the amount invested, cash flow earned through rents, pay down of the mortgage loan, and appreciation realized from the sale of the property. IRR is an overall return on investment metric that accounts for the amount and timing of all cash flows disbursed and received each year.
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    About the calculations

    The calculations and data presented herein are deemed to be accurate, but accuracy is not guaranteed. The projected proforma returns on investment are intended for the purpose of illustrative projections to facilitate analysis and are not guaranteed by Meridian Pacific Properties, Inc. or its affiliates and subsidiaries. The information provided herein is not intended to replace or serve as a substitute for any legal,real estate, tax, or other professional advice, consultation or service. The prospective buyer should consult with a professional in the respective legal, tax, accounting, real estate, or other professional area before making any decisions or entering into any contracts pertaining to the property or properties described herein.

    Monthly Rent *

    Represents the middle point of an expected rent range. 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. Please call Meridian Pacific Properties directly for more information.

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