Tourism is a big business in "Music City" due to Nashville's great climate and unique events throughout the year, drawing in millions of visitors. While finding short-term renters is easier, finding the right area to buy a short-term rental property in Nashville can be challenging. If you're looking for a Nashville duplex for sale, check out these four great neighborhoods that are popular for short-term rentals.
The 12 South neighborhood is considered one of Nashville's most walkable neighborhoods. The pace of life is a bit slower in 12 South than in some other Nashville communities, making it a favored destination for tourists who want to stay a week or two for a vacation. The neighborhood is just 10 minutes south of downtown, but the real draw for visitors is walking around 12 South to see all the shops and sample all the great cooking and eateries. Most commercial businesses are centralized along 12th Avenue, with the rest of the neighborhood being residential properties.
There are many unique and locally owned restaurants, coffee shops, and bakeries to explore in 12 South. In the south part of the neighborhood is Sevier Park, a quiet green space with a historic house to visit. Walking through 12 South, visitors can check out many artistic murals painted on the sides of commercial buildings. 12 South is also right next to Belmont University.
If there's an area that truly defines Nashville as a city and tourist destination, it's the Music Row neighborhood. Historic Vanderbilt University is directly southeast of the community, and it's bordered to the northeast by the Gulch. A considerable amount of Nashville's music history is in the northern part of the neighborhood, and several residential properties are along Music Row's southern edge.
Any tourist wanting to explore the history of American music will want to stay in Music Row, making rental properties very attractive here. Music Row is home to Elvis Presley's Recording Room, RCA's famed Studio A and Studio B, and MGM/UA's Nashville recording studio. Columbia Records and Warner Music also have sizable studios here. All the major record labels in the country have studios centered in this one Nashville neighborhood, and there are a lot of independent studios as well. Music stores selling vinyl and CDs are also prevalent.
Music lovers will never run out of things to see and do in Music Row, and they're willing to pay extra for a vacation rental within walking distance of all the city's music action.
The East Nashville neighborhood has the beautiful Cumberland River as its natural boundary on three sides and is directly across the river from downtown. There are three bridges from East Nashville to downtown, providing easy access.
"Foodies" will love the selection of excellent restaurants concentrated around Main Street in East Nashville. Anyone who wants to check out some live music should head to the 5 Spot, which is usually booked solid with local bands—it frequently has two shows per night playing. Visitors can also check out one of the largest parks in the city here, Shelby Bottoms Nature Center and Greenway.
Football season is a huge draw in the East Nashville neighborhood. The Tennessee Titans home games are played at Nissan Stadium, so proximity to these games allows East Nashville rental properties to charge a premium from September through January. Remember, nightly rental prices are allowed to fluctuate in Nashville, and NFL fans will typically pay extra for a rental property.
The Gulch neighborhood is the location to consider for anyone interested in buying a short-term rental Nashville condo. This trendy neighborhood used to be an industrial area, but today it's filled with high-rise condos, eclectic shopping experiences, and some of the best fine dining in Nashville. Visitors who want to sample some hot Nashville chicken or marvel at the city's impressive nighttime skyline are often eager to rent a condo for a short stay in this neighborhood.
The Gulch is sandwiched between Music Row and the Arts District, making it a prime tourist location. It's an extremely short distance from the music studios listed above and all the action in the Arts District. Renters staying here are close to the Country Music Hall of Fame, the Johnny Cash Museum, the National Museum of African American Music, and the world-famous Ryman Auditorium. Hockey fans will also appreciate the proximity to Bridgestone Arena, where the Nashville Predators play.
Art galleries, gourmet restaurants, and premier shopping are all available in The Gulch. This urban neighborhood is one of the best real estate locations in the entire city regarding investment properties.
Nashville short-term rentals have the potential to be incredible investment opportunities if they are in the right neighborhoods. Even in February, Nashville's slowest tourism month, vacation rentals are still profitable. In June, when tourism season kicks into high gear, average short-term rental prices are highest due to the tight market. Anyone considering investing in a short-term rental, whether a condo, a single-family home, or a Nashville duplex, should view these neighborhoods.
The Ashton Real Estate Group of RE/MAX Advantage
The #1 RE/MAX team in the World!