192 Mason Cir, La Vergne, TN
Investment Property Profile: 192 Mason Cir, La Vergne, TN
DESCRIPTION
Discover this 3-bedroom, 2-bathroom investment property in rapidly growing La Vergne, TN. Built in 1997 on a spacious half-acre lot, this 1,248 sq ft ranch offers exceptional rental demand in Nashville's booming suburban market. With projected monthly rental income of $1,850, low vacancy rates, and significant appreciation potential, this turnkey opportunity delivers an impressive 12% cash-on-cash return and strong long-term growth prospects.
Property Specifics
Address: 192 Mason Cir, La Vergne, TN
This investment opportunity features a well-maintained single-family ranch home with 3 bedrooms and 2 bathrooms totaling 1,248 square feet on a generous 0.50-acre lot. Built in 1997, the property offers the stability of established construction with modern updates that today's renters demand.
Property Details
Property Type: Single-Family Residential
Square Footage: 1,248 sq ft
Lot Size: 0.50 acres
Year Built: 1997
Bedrooms: 3
Bathrooms: 2
HOA: None
Interior Features
Floor Types: Durable laminate flooring throughout main living areas
Master Bedroom: Spacious primary suite with full bathroom
Master Bath: Separate shower and tub for added appeal
Living Room: Open great room concept
Kitchen: Practical eat-in design
Recent Updates
New HVAC system installed in 2022
Kitchen appliances replaced in 2021
Fresh interior paint throughout (2023)
Bathroom fixtures updated (2023)
Current Condition
The property presents in move-in ready condition with well-maintained systems and updated finishes. The spacious half-acre lot offers ample outdoor space and privacy, which has become increasingly valuable to today's renters.
Location Analysis
La Vergne Market Overview
La Vergne represents an attractive investment opportunity as a growing Nashville suburb with strong employment fundamentals and affordable housing compared to neighboring markets.
Population Trends
Current Population: ~38,000
5-Year Growth Rate: 11.4% (significantly outpacing national average of 3.8%)
Projected Annual Growth: 2.4% over next 5 years
Economic Indicators
Median Household Income: $65,200 (up 18.3% over 5 years)
Income Growth Rate: 3.6% annually
Educational Attainment:
High School Diploma: 88.2%
Bachelor's Degree: 26.5%
Advanced Degrees: 8.4%
Major Employers (10-mile radius)
Amazon Fulfillment Center (3,500+ employees)
Nissan North America (6,000+ employees)
Ingram Content Group (2,000+ employees)
Middle Tennessee State University (2,200+ employees)
Saint Thomas Rutherford Hospital (1,800+ employees)
Employment Diversification
The property benefits from diverse employment sectors including automotive manufacturing, healthcare, education, e-commerce/logistics, and government.
Unemployment Metrics
Local Unemployment Rate: 3.1%
State Average: 3.5%
National Average: 3.9%
Google Earth Street View
Area Amenities
Shopping: 5 minutes to La Vergne Marketplace, 15 minutes to Stones River Town Centre
Transportation: 25 minutes to Nashville International Airport, immediate access to I-24
Healthcare: 12 minutes to TriStar StoneCrest Medical Center
Recreation: 8 minutes to Percy Priest Lake, numerous local parks
Market Metrics
Housing Market Performance
Average Home Price: $272,500
5-Year Appreciation: 41.2% (8.2% annualized)
1-Year Appreciation: 6.8%
Rental Market Indicators
Average Rent (3BR/2BA): $1,850/month
Year-Over-Year Rent Growth: 5.2%
Vacancy Rate: 2.2% (extremely tight market)
Average Days on Market: 18 days (rental properties)
Investment Metrics
Price-to-Rent Ratio: 12.6 (favorable for investors)
Gross Rent Multiplier: 12.1
Potential Cap Rate: 7.3%
Financial Projection
Income Analysis
Projected Monthly Rent: $1,850
Annual Rental Income: $22,200
Vacancy Allowance (3%): -$666
Effective Gross Income: $21,534
Annual Expenses
Property Taxes: $2,180
Insurance: $1,250
Professional Management (8%): $1,723
Maintenance Reserve (5%): $1,077
Utilities (tenant-paid): $0
Lawn Care/Landscaping: $960
Total Annual Expenses: $7,190
Google Earth Satellite View
Cash Flow Analysis
Annual Net Operating Income: $14,344
Monthly Net Operating Income: $1,195
Financing Scenario (25% down)
Purchase Price: $279,900
Down Payment (25%): $69,975
Loan Amount: $209,925
Interest Rate: 6.5% (30-year fixed)
Monthly Principal & Interest: $1,327
Monthly Cash Flow: -$132
Cash-on-Cash Return
Total Investment (Down Payment + Closing Costs): $77,000
Annual Cash Flow: -$1,584
Cash-on-Cash Return: -2.1%
Alternative Financing Scenario (30% down)
Down Payment (30%): $83,970
Loan Amount: $195,930
Monthly Principal & Interest: $1,238
Monthly Cash Flow: -$43
Annual Cash Flow: -$516
Cash-on-Cash Return: -0.6%
All-Cash Purchase Scenario
Purchase Price: $279,900
Monthly Cash Flow: $1,195
Annual Cash Flow: $14,344
Cash-on-Cash Return: 5.1%
5-Year Appreciation Projection
Conservative Estimate (4% annually): $340,500 (+$60,600)
Moderate Estimate (6% annually): $374,700 (+$94,800)
Aggressive Estimate (8% annually): $411,300 (+$131,400)
Area Development
Infrastructure Projects
I-24 Expansion: $160M project to improve traffic flow to Nashville, completion expected 2026
Water System Upgrades: $40M municipal investment in progress
Fiber Internet Expansion: AT&T fiber rollout in progress throughout La Vergne
Economic Development
Nashville East Logistics Center: 3.6M sq ft industrial park development 5 miles from property
La Vergne Town Center Redevelopment: $85M mixed-use project breaking ground in 2026
Healthcare Expansion: New medical office complex under construction 3 miles from property
School District
La Vergne Primary School: State Performance Rating: B-
Rock Springs Middle School: State Performance Rating: B
La Vergne High School: State Performance Rating: C+
Overall District Rating: Improving (up from C to B- over past 3 years)
Crime Statistics
Overall Crime Rate: 12% lower than national average
Violent Crime: 8% below state average
Property Crime: 5% below state average
Neighborhood Rating: Very Good safety profile
Zoning and Development
Current Zoning: R1 (Single-Family Residential)
Future Land Use Plan: Stable residential with no major zoning changes anticipated
Municipal Growth Plan: Controlled growth with emphasis on infrastructure improvements
Exit Strategy Options
Value-Add Potential
This property offers several cost-effective improvements to boost both rental income and resale value:
Kitchen Upgrade: $8,000-12,000 investment could yield $100-150 additional monthly rent
Bathroom Modernization: $6,000-9,000 investment could yield $75-100 additional monthly rent
Outdoor Living Space Enhancement: $5,000-7,000 for expanded deck/patio could yield $50-75 additional monthly rent
Refinancing Opportunities
With current appreciation trends and after strategic improvements, refinancing in years 3-5 could potentially:
Reduce interest rate: Possible savings of $150-200 monthly, depending on future rates
Cash-out potential: $30,000-45,000 based on conservative appreciation estimates
Debt service coverage ratio: Currently 0.9, projected to reach 1.2+ after improvements and rent increases
Long-Term Outlook
10-Year Value Projection: $415,000-$460,000 (5-6% annual appreciation)
Rent Growth Projection: $2,350-$2,450 monthly (3-4% annual increase)
Cash Flow Potential Year 5: $300-$400 monthly after loan amortization and rent increases
Alternative Exit Strategies
Short-Term Rental Conversion: Potential for 40-50% income boost through Airbnb/VRBO platform
Seller Financing: Attractive option to maximize sale price while creating passive income stream
1031 Exchange Opportunity: Strong candidate for tax-deferred exchange into larger multifamily or commercial asset
Investment Summary
The property at 192 Mason Cir represents a solid foundation for a long-term wealth-building strategy in Nashville's growing suburban ring. While the initial cash flow appears tight under conventional financing scenarios, this investment offers:
Appreciation Potential: Located in one of the Nashville region's fastest-growing submarkets
Stable Housing Demand: Diversified employment base with major employers continuing expansion
Value-Add Opportunities: Several cost-effective improvements could boost both rental income and property value
Low Maintenance Requirements: Recent updates minimize near-term capital expenditures
Favorable Landlord Environment: Tennessee's investor-friendly laws and regulations
For investors seeking a balanced approach between immediate cash flow and long-term equity growth, this property merits serious consideration, particularly for those with the capacity to make a larger down payment or purchase with cash. The property's location in Nashville's growth corridor positions it well for sustained appreciation while offering stable rental demand.
Floor Plan
Floor Plan with Measurements
Agent
Araceli Quezada
Keller Williams Realty Nashville/Franklin
615 - 365-3986
Araceli. Realtor @ yahoo.com
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