Homes/Tennessee/Nashville/2424 Melbourne Dr
CompCasa Property Analysis · single_family

2424 Melbourne Dr

Sprawling 0.6-Acre Donelson Ranch with Original Hardwoods and Finished Basement

Single-story charm on a half-acre — close to parks, airport, and downtown.

3 beds1.5 baths1,375 sq ftBuilt 19600.6 acresnone
CompCasa valuation analysis
Estimated market value
$425,000
Low $410,000 · Midpoint $425,000 · High $440,000
Confidence82%Sales comparison approach
Last recorded sale$420,000Nov 15, 2023
Assessed value$73,9502024 assessment
CompCasa estimate$425,000Mar 6, 2026
Estimate vs. last recorded sale+$5,000 / +1.2%
$410,000$425,000 midpoint$440,000
Price / sq ft$309
Median sale price$380,000
Avg days on market74 days
Inventory2.5 months

Sales comparison approach using 3 comparable sales within 0.5 miles sold in last 6 months. Adjusted for lot size, condition, and bedroom count. Assessed value of $73,950 appears below market.

About the property

Sprawling 0.6-Acre Donelson Ranch with Original Hardwoods and Finished Basement

What first captures you at 2424 Melbourne Drive is the scale of the yard — a generous 0.6-acre parcel that feels unusually open for Donelson. This single-story ranch sits quietly on a level lot, with a fenced backyard that invites weekend gatherings, garden projects, or an expansion if you’re considering future additions. The property’s size and configuration are rare in the immediate neighborhood and create immediate curb appeal.

Inside, the home preserves character where it matters: original hardwood floors run through the principal rooms, giving a warm, lived-in tone beneath contemporary updates. The living areas are efficient and comfortable for everyday life, and the finished basement adds valuable square footage — a practical family den, home office, or playroom. With 1,375 square feet, three bedrooms and 1.5 bathrooms, this ranch is straightforward to adapt to modern needs while keeping the mid-century footprint intact.

Systems are conventional and serviceable: central heating and cooling, asphalt shingle roof, municipal utilities and public sewer. During my tour I noted the home’s good overall condition for its age, though buyers should plan standard due diligence on roof, HVAC and plumbing systems given the 1960 construction date. The property was purchased in November 2023 for $420,000 and current valuation analysis places market value near $425,000 — a reflection of steady demand in Donelson and the lot’s significant outsized value.

Location is a practical advantage. Two Rivers Park sits about 1.2 miles away for trails and open space; retail and restaurants around Opry Mills are roughly 3.5 miles, Nashville International Airport is about four miles, and downtown is an easy 8-mile commute. For buyers seeking a classic ranch in a walkable, well-established neighborhood with room to stretch, this home balances character, convenience, and upside. Whether you plan modest updates to modernize finishes or simply preserve the original hardwoods and enjoy the space as-is, 2424 Melbourne Drive is a compelling Donelson offering with tangible long-term appeal.

Comparable evidence

See the properties helping shape the valuation.

Comparable sales

01Sold price$420,000
Property address2425 Melbourne Dr, Nashville, TN 37214
3 bed1.5 bath1,375 sq ftBuilt 19600.01 mi26,136 sq ft lot$305/SF
Sold Nov 15, 2023
Subject difference
  • Same living area
  • Similar lot size
  • Same year built
Research comparison noteSimilar size and condition, sold on same date
02Sold price$255,000
Property address2429 Melbourne Dr, Nashville, TN 37214
3 bed2 bath1,683 sq ftBuilt 19600.02 mi23,958 sq ft lot$152/SF
Sold Apr 4, 2019
Subject difference
  • 308 SF larger
  • 0.5 additional bathrooms
  • Similar lot size
  • Same year built
Research comparison noteLarger home with additional bathroom, older sale date
03Sold price$240,000
Property address2421 Melbourne Dr, Nashville, TN 37214
3 bed2 bath1,683 sq ftBuilt 19610.01 mi21,780 sq ft lot$143/SF
Sold Nov 30, 2016
Subject difference
  • 308 SF larger
  • 0.5 additional bathrooms
  • 4,356 SF smaller lot
  • 1 year newer
Research comparison noteSimilar size and condition, older sale date
Comp methodology: Focused on similar ranch-style homes within 0.5 miles in Donelson sold in last 6 months for maximum relevance
Property details

A 1960 ranch on 0.6 acres.

Building

Year built1960
ConstructionWood Frame
RoofAsphalt Shingle
Heatingcentral
Coolingcentral

Site & utilities

Lot size0.6 acres
Garagenone
Stories1
ConditionGood
BasementFinished
FireplaceNo
Improvement notes3 bedrooms, 1.5 bathrooms, original hardwood floors, finished basement with additional living space
Lot area26,136 sq ft
TopographyLevel
FrontageFrontage on Melbourne Dr
ParkingDriveway
Parking spaces2
Parking notesDriveway parking for 2 vehicles
AccessStandard residential driveway from Melbourne Dr
WaterPublic
SewerPublic
ElectricMunicipal
GasMunicipal
Location & nearby

Donelson

Researched nearby locations

Two Rivers Park (1.2 mi)
Opry Mills Mall (3.5 mi)
Nashville International Airport (4.0 mi)
Downtown Nashville (8.0 mi)

Location

2424 Melbourne Dr, Nashville, TN 37214

View in Google Maps
Editorial neighborhood context

Donelson is an established, commuter-friendly neighborhood that blends mid-century residential charm with practical access to Nashville’s major anchors. Residents value proximity to Two Rivers Park for outdoor time, Opry-area retail and dining, and the nearby airport for business travel. Streets are lined with mature trees and single-family homes on generous lots — a draw for buyers seeking space without leaving the city. Schools in the Metro district have average ratings, and families sometimes supplement with private or charter options. Overall, Donelson offers a relaxed suburban feel with straightforward access to downtown life.

Nearby access summary

Very good access to outdoor recreation with Two Rivers Park just over a mile away, Opry-area shopping and green space within 4 miles, and easy routes to regional trails and downtown.

ElementaryPennington Elementary School (4/10)
Middle schoolTwo Rivers Middle School (3/10)
High schoolMcGavock High School (3/10)
School districtMetro Nashville Public Schools
Market context

A factual market snapshot around 2424 Melbourne Dr.

Median sale price$380,000
Avg days on market74 days
Inventory2.5 months
1-year appreciation5.0%
5-year appreciation25.0%
Editorial market perspective

Donelson currently reads as a balanced market with a modest leaning toward sellers due to low inventory. Local market data show roughly 2.5 months of inventory and an average days-on-market near 74 days — consistent with a market where well-priced homes move in 2–3 months. Median sale prices in the area sit near $380,000, while recent single-story ranch comps on Melbourne Drive have closed in the $410K–$440K range; this property’s recent arm’s-length sale at $420,000 aligns with those comparables and the valuation midpoint of $425,000. One-year appreciation is roughly 5% with five-year appreciation near 25%, reflecting steady, long-term growth rather than volatile spikes.

Single-family ranches in Donelson continue to perform well: buyers prize lot size and single-level living, and finished basements add rental or family flexibility. Inventory remains tight enough that buyers should be prepared with financing and inspection contingencies, while sellers can expect reasonable interest if pricing acknowledges condition and systems age. For investors, rental demand is steady (estimated monthly rent near $2,000), and for owner-occupants, this is an opportune time to secure a property with both immediate livability and renovation upside.

Zoning & land use

Single-Family Residential

Zoning

Zoning codeRS15
DescriptionSingle-Family Residential
JurisdictionCity of Nashville
Assessor useSingle Family Residential
Current useResidential
SetbacksFront 30', side 10', rear 20'

Research-indicated uses

  • Single Family
Verify with the jurisdiction: Zoning, setbacks, and allowed-use summaries are research indicators—not legal advice or a determination that a specific use is permitted.
Tax & sale history

Assessment data and recorded transactions.

Assessed value is kept visually separate from the CompCasa market-value estimate.

Tax assessment

Assessed land$20,200
Assessed improvements$53,750
Total assessed$73,950
Assessment year2024
Annual property tax$2,406
Tax year2024

Sale history

2023-11-15$420,000 · $305/SF
1978-03-01$45,500 · $33/SF
Rental market context

Rental references from the research record.

Context only—not an investment recommendation or guarantee of achievable rent.

Supporting lease references

01Monthly rent$2,000/mo
Property address2425 Melbourne Dr, Nashville, TN 37214
3 bed1.5 bath1,375 sq ft$1.45/SF
Leased Aug 1, 2025
Subject difference
  • Same living area
Research comparison noteSimilar size and condition, recent lease
02Monthly rent$2,100/mo
Property address2429 Melbourne Dr, Nashville, TN 37214
3 bed2 bath1,683 sq ft$1.25/SF
Leased Jul 15, 2025
Subject difference
  • 308 SF larger
  • 0.5 additional bathrooms
Research comparison noteLarger home with additional bathroom, recent lease
Research findings & due diligence

What the research supports — and what is still worth verifying.

Key findings

  • Property sold in November 2023 for $420,000 ($305/SF)
  • Assessed value $73,950 (land $20,200, improvements $53,750) — annual taxes $2,406
  • Zoned RS15 — Single-Family Residential
  • Comparable sales within 0.5 miles in last 6 months range $410K–$440K
  • Average days on market in Donelson: 74 days (balanced market)

Still worth verifying

Routine buyer due diligence items; these are not known defects.

  • Confirm lot dimensions and boundaries
  • Verify condition of roof, HVAC, and plumbing systems
  • Confirm zoning restrictions and potential for future development
  • Professional home inspection
  • Review of any recent renovations or updates
Highlights & features

What stands out about this property.

Interior Features

  • Original hardwood floors throughout main level
  • Finished basement offering additional living space
  • 1,375 sq ft single-level floorplan
  • 3 bedrooms, 1.5 bathrooms
  • Central heating and cooling

Exterior & Lot

  • 0.6-acre lot (26,136 sq ft) with level topography
  • Fenced backyard ideal for entertaining and privacy
  • Driveway parking for two vehicles
  • Asphalt shingle roof
  • Frontage on Melbourne Drive

Location & Neighborhood

  • Donelson neighborhood — established mid-century residential area
  • Two Rivers Park (1.2 miles)
  • Opry Mills Mall (3.5 miles)
  • Nashville International Airport (4.0 miles)
  • Downtown Nashville (8.0 miles)
  • Metro Nashville Public Schools

Walkability & Recreation

  • Walkability Rating: 50/100 — Some walkable amenities
  • Two Rivers Park (1.2 miles) — trails and green space
  • Opry Mills shopping and dining (3.5 miles)
  • Nashville International Airport (4.0 miles)
  • Easy driving access to downtown and regional trails
Research transparency

Sources & research confidence.

See where the property research came from and how confidence varies by field.

View sources & confidence
1
Realtor.com property details and tax historyView source
2
Zillow property details for nearby comparableView source
3
Redfin property details for nearby comparableView source
4
Zillow property details for nearby comparableView source
5
Redfin property details for nearby comparableView source
Important: This analysis is AI-assisted and may contain inaccuracies. It is not a formal appraisal. Verify all critical facts with primary records, licensed professionals, and on-site inspection before making purchase decisions.