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Buying in Donelson for $250K to $300K: What It Actually Gets You

October 22, 2026·Updated October 26, 2026

Donelson is a Nashville neighborhood about six miles east of downtown along U.S. Route 70, and a lot of the buyers who ask me about it have a budget of about $250K to $300K. Here's the honest picture: the typical home here sells for more than that. At this price you're mostly looking at condos and townhomes. They're out there, and I'll show you how to find a good one.

Where it is

  • Donelson is a neighborhood of Nashville, about 6 miles east of downtown along U.S. Route 70, and the Metro Council governs it. It's named for John Donelson, a co-founder of Nashville.

  • The figures below are for ZIP 37214, which is the ZIP on the Donelson listings cited here.

What $250K to $300K means here: the numbers

The short version: a $250K to $300K budget sits well below the typical Donelson sale, so condos and townhomes are the realistic path at this price. Here's what the data shows.

  • Redfin reports a median sale price of $380K for 37214 over the three months ending September 2026, with homes selling in about 54 days on average (checked October 22, 2026).

  • For the wider Donelson-Hermitage-Old Hickory area, Redfin's median for the same period was $395K, with about 60 days on market (checked October 22, 2026).

  • Across Nashville, Redfin's city guide lists median sale prices of $514,795 for single-family homes, $374,961 for condos and $349,994 for townhouses (checked October 22, 2026).

  • Greater Nashville REALTORS reported a September 2026 condo median of $331,780 across its nine-county area, compared with a residential median of $510,000 (report dated October 5, 2026, data from RealTracs).

Where to look by home type

Public MLS listings I checked on October 22, 2026 included two-bedroom condos and townhomes in 37214, built in the mid-1980s and listed from about $200K to $240K. Timber Lake is one of those communities, and its listing describes a community pool and tennis courts.

One detail worth knowing: a townhome listing in that range showed HOA dues of $328 a month, so budget for dues on top of the mortgage.

Inventory changes weekly, so send me your budget and I'll pull what's active now.

What to check on a condo or townhome before you offer

At this price, most of your options will share walls and an HOA, so the paperwork matters as much as the finishes.

  • HOA dues and what they cover. Dues vary a lot between communities, and they count toward the monthly payment a lender qualifies you for.

  • FHA approval. If you plan to use an FHA loan, including most THDA loans, check whether the community is FHA-approved with HUD's condominium lookup. FHA only insures condo loans in FHA-approved projects, or in unapproved projects that meet HUD's Single-Unit Approval requirements, so not every condo can be bought with an FHA loan.

  • Leasing and rental rules. Many associations limit leasing or ban short-term rentals, which matters if you might rent the unit out later.

  • Age of the big systems. Ask about the roof, HVAC and water heater, and read the HOA's budget and reserves before you're under contract.

First-time buyer help: THDA

The Tennessee Housing Development Agency (THDA) runs the Great Choice Home Loan for moderate-income buyers. Here's what THDA's own pages say:

  • It's a 30-year fixed-rate mortgage. Everyone on the loan application needs a credit score of at least 640.

  • Household income and purchase price limits vary by county, so check THDA's current chart before you count on it.

  • THDA says most Great Choice loans are insured by FHA or USDA-RD and that you may be able to borrow up to 96.5% of the price, so plan on a down payment of at least 3.5%. The exact minimum depends on the loan type, so confirm it with your lender.

  • Great Choice Plus can help with the down payment and closing costs in one of two ways. The first is a deferred, 0% second loan of up to $6,000 or up to $10,000, forgiven after 10 years but due in full if you sell or refinance sooner. The second is an amortizing second loan of up to 5% of the price, capped at $15,000, repaid over 30 years at the same rate as the first mortgage.

  • You generally can't have owned and lived in a home as your principal residence in the past three years, though THDA waives this in targeted areas. The home must be your principal residence, and you'll need to complete homebuyer education.

Start with THDA's Great Choice page and its down payment assistance page. When you're ready to run the numbers, I can connect you with a lender I trust. They can tell you whether THDA or another loan fits you better.

Schools

Metro Nashville Public Schools (MNPS) serves Donelson. MNPS assigns zoned schools by address, and zones can change, so look up the specific address in the official MNPS Zone Finder before you rely on a school assignment.

Why work with me

  • I'm a Compass agent based in Nashville. My clients get Compass's marketing and tools.

  • I look at property like an investor. I learned the business working alongside a seasoned house flipper, and I still invest while working as an agent. I'll tell you when a unit is priced right and when the HOA or the building is the real risk.

  • You'll reach me directly. Call or text (971) 303-3895.

Send me your budget

Send me your budget and I'll send matching listings in Donelson. Tell me your price range, how many bedrooms you need and if you're open to a condo or townhome. I'll answer your questions about the area too.

Send me your budget

Frequently asked questions

Can I buy a home in Donelson for under $300,000?

Yes, usually as a condo or townhome. Redfin's median sale price for 37214 was $380K over the three months ending September 2026, so $300K sits well below the typical sale.

What is the median home price in Donelson?

Redfin reports $380K for ZIP 37214 over the three months ending September 2026, and $395K for the wider Donelson-Hermitage-Old Hickory area.

Can I use an FHA loan to buy a Donelson condo?

Only if the condo qualifies. FHA insures condo loans in FHA-approved projects, or in unapproved projects that meet HUD's Single-Unit Approval requirements, so check HUD's FHA condominium lookup before you offer.

Is there first-time buyer help in Nashville?

Yes. THDA's Great Choice Home Loan is a 30-year fixed mortgage with a 640 minimum credit score, and Great Choice Plus can help with the down payment and closing costs. Income and price limits vary by county.

How far is Donelson from downtown Nashville?

About six miles east of downtown, along U.S. Route 70.

How do I find the zoned school for a Donelson address?

Donelson is in Metro Nashville Public Schools. Look up the specific address in the official MNPS Zone Finder at https://zonefinder.mnps.org, since zones are assigned by address and can change.

Keep exploring

Sources

Ryan McCord, licensed real estate agent with Compass RE. Call or text (971) 303-3895, email ryan.mccord@compass.com, or find me on Instagram and TikTok at @ryanmccordrealestate.

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