VOL. 47 | NO. 26 | Friday, June 23, 2023
Skyrocketing resale prices trace Germantown’s rise
1423 Fourth Avenue North
When the couple bought 1423 Fourth Avenue North in Germantown in 2011 for $224,000, they were modern-day Germantown pioneers and made what could be considered a risky investment. After all, the seller had paid $234,085 for the property six months before their purchase of the home, losing $10,000 during that time.
Three years later, Nashville Mayor Karl Dean announced the city was bringing baseball back to North Nashville to the old site of Sulphur Dell, a park that had served as a home to organized baseball since 1885. The name of the razed park was derived from the fact that there was a spring in the area that provided sulphur water for all that were in need. As early at the 1150s Native Americans boiled the water in order to produce salt.
When Mayor Dean announced the stadium would be built on the site, he noted that the project was a partnership between state and local government. Sounds owner Frank Ward praised Mayor Dean and Gov. Haslam for providing the leadership to allow the baseball park to be built.
Did everyone catch that? Only 10 years ago, the state and the city worked together to make things better in Nashville.
Dean, who hails from Massachusetts, is a devout fan of the Boston Red Sox and attended many games at Fenway Park, a park that had hosted Red Sox games since 1912, some 28 years after Sulphur Dell opened. As a traditionalist in baseball circles, he felt baseball should return to the hallowed ground of Sulphur Dell and predicted that the park would “spur development in the Jefferson Street area.”
Like a seasoned umpire, he made a good call. And the owners of 1423 Fourth Avenue North hit a home run when they sold the property three years after First Tennessee Park opened. After paying $224,000, they sold the house for $425,000. The house sold again the next year for $455,000.
1423 Fourth Avenue North
Most recently, the house was listed by the success-laden team of Ashna Tipnis and Margaret Davidson for $785,000. They noted the 1,404-square-foot home features three porches, two bedrooms, two full bathrooms and one half bathrooms. They also pointed to the “trendy cafes and local boutiques” in the area as selling features.
Wendy Monday represented the buyer, a first-time homeowner who she described as Gen Z. Monday herself is one of the early believers in Germantown and lived in the Werthan Lofts 2012-18.
The Werthan family, owner of the facility that is now the Werthan Lofts, was the inspiration for the movie “Driving Miss Daisy.”
When Wendy Monday was told of the upcoming listing by the Tipnis/Davidson team, she Googled the address and the Google photograph included Monday walking her child, Wulf, in a stroller.
Wendy Monday took a slight reprieve from real estate some time back and lived abroad, taking time to tour Europe along with her late dog, Tuesday. As passports were required for pets, Tuesday Monday may be the only Germantown dog to have been issued a passport.
As an inhabitant of the Werthan Lofts, Monday shared there is a hydrant located on the side of the development from which the sulphur water still flows.
That hydrant served as the source for the fountain of sulphur water was often visited by Mary Catherine Strobel, who lived in Germantown during her lifetime. Strobel said she felt the sulphur water had medicinal, curing qualities and often delivered bottles to the sick.
She was born in the community in 1912, and The Mary Catherine Strobel Awards are given each year in her honor to those who give their time and talents to improve the community.
Strobel was the first woman employee of the fire department, when fire chief Henry Demonbruen offered her a job after her husband of 10 years died suddenly and she was left with four young children. In 1986, her life of service to the community was cut short when she was kidnapped by an escaped convict.
On a more positive note, there are two statues of bears throwing snowballs that can be found in Germantown. Imported from their home in Edgehill near Whiteway Cleaners, the bears raised the interest of many on Music Row.
Singer/songwriter/comedian Ray Stevens tells the story of friends of his who once met the owner of the bears and asked him about the statues. His reply was “Them bars hopes a heap.”
There is a heap of hope in Germantown these days.
Richard Courtney is licensed real estate broker with Fridrich& Clark Realty, LLC and can be reached at [email protected].