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Properties / TN / Somerville / Hedge Rose / 60 Primrose Lane
Pending

60 Primrose Lane

Somerville, TN 38068
4 Bedrooms
2.5 Baths
1,900 S.F.
0.28 Acres

Buy this property for $339,900 and earn $2,175 per month in estimated rent.

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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 Finch is a well-designed 4 bedroom, 2 ½ bathroom home with a breakfast nook and formal dining room, which may also function as a play area or home office. The plan’s spacious kitchen features granite countertops, stainless-steel appliances, and white Shaker cabinets with a large angled island that is perfect for entertaining or bar-style eating. The adjacent living area includes a modern electric fireplace with a floating mantle made of cedarwood. The plan’s main-level primary bedroom with en-suite bathroom provides the space to relax and unwind. Up the stairs, there are 3 additional bedrooms and a full bathroom.

Features

Flooring:
  • LVP flooring in common areas
  • LVP flooring in bathrooms
Bathrooms:
  • Separate tub and shower
Appliances:
  • Garbage disposal
Kitchen:
  • Eat-in kitchen
  • Kitchen island
  • Kitchen/family room view
Construction:
  • New construction
  • Detached Single Family
  • 9' or 10' ceilings
  • Traditional architecture
  • Garage doors and openers
Climate:
  • Ceiling fans
Exterior:
  • Two-car attached garage
  • Curbs and sidewalks

FIGURES

Buy for $339,900
Rents for $2,175
4 Bedrooms
2.5 Baths
1,900 S.F.
Floor Plan: Finch B Front Load
Elevation B
2 Levels
0.28 Acres
Built in 2024
2 Garage Spaces

ROOMS

  • 4 Bedrooms
  • 2.5 Baths
  • Floored attic

eDUCATION

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

utilities

  • Public Water connected

Investor Specials

  • 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 [email protected].

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:
    174

    Get Directions

    Finances

    Sales Price:
    $339,900
    Annual County Tax:
    $1,122
    Annual HOA:
    $350 [ $29.17 per month]
    Annual Insurance Premium:
    $750

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    INVESTOR CALCULATOR

    PROPERTY INCOME AND OPERATING EXPENSE DATA
    ?
    Enter the Monthly Rent, Annual Property Tax and Annual Insurance Premium amounts here. The tax information is available on most county property tax websites. The insurance information is available from the insurance company. It is important to research whether or not the property is located in a homeowner’s association that carries Homeowner’s Association (HOA) fees. If so, enter the annual amount.
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    ACQUISITION AND DEBT SERVICE SUMMARY
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    Enter Purchase Price of the property. If you are financing the property, enter the Down Payment percentage here. For most investors, it’s usually a number between 20-30%. For a cash purchase, enter 100%. Next, enter the Closing Costs & Fees. If you are working with a lender, she can give you a good faith estimate for this line item.
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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.
    10-Year Average Cash-On-Cash ROI
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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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    Name*
    *Your name, phone number, and email address are required so that we may contact you to schedule an appointment.
    By submitting this form with your telephone number you are consenting for Meridian Pacific Properties and authorized representatives to contact you even if your name is on the Federal "Do-not-call List."
    This field is for validation purposes and should be left unchanged.