The City of Country Music
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Capital to and the most populous city in Tennessee. It is the country’s 24th most populous area.
Culture, History, and Business
The city was named after a Continental Army General, Francis Nash. Established in 1779, the city has quickly developed because of its strategic positioning on the River Cumberland port. It was the first Confederate City to be sacked by Union troops during the civil war. It has since established itself as a manufacturing base after the civil war
Some of the major industries include healthcare, tourism, and education, which supports a year-round service industry. The cost of doing business in the city is low compared to the country’s national average. New and established residents of the city and Tennessee generally love it here because of the “no personal income task” policy.
With Nashville’s location in the middle of Tennessee, the city is strategically placed and ideal for companies seeking to improve and extend their reach across different corners of the nation. Product distribution, retail sales, and trucking companies are all within the city because of its geographic placement and connection to most of the country’s market: three major interstate highways I-40, I-65, and I-24 meetup in the downtown area of the city.
Real Estate Appeal
In 2018, property investment in the city was yielding a good ROI for the investors, even with the Nashville neighborhoods’ high median price. Some statistics in 2018 from Mashivor’s investment calculator shows that the median price for investment properties was $418,571. The monthly rent for Airbnb and traditional rentals was $972 and $1,810, respectively, with a CoC return and cap rate of 1.51% and 2.22%, respectively. According to Zillow, 2017 saw the property market in the city grow by 12.2%, the most significant move of the city’s property market in the last decade. However, the succeeding years have seen the property market within this city rise by 4.1% annually.
The real estate sector of Nashville is getting a lot of buzz because of the ever-increasing job rates. Among the heavy employers are companies within the medical, financial, and administration services and also businesses interested in the product distribution and geographic location of the city.
Current market trends have rental yields at the city center at a rate of 11.59% while outside the city center is 12.88%. The cost of an apartment in the city center is $3,015.39 per sq. meter while outside the city center cost $1,775.80 per sq. meter.
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