Historic East Nashville opportunity in the heart of Cleveland Park! 314 Hancock St is a rare 5 bed, 3 bath home offering flexibility, character, and development potential under SP zoning. This updated home features a unique layout that’s hard to find in the area — very few homes on the street offer five true bedrooms. Zoned SP (Specific Plan), this property allows for a Detached Accessory Dwelling Unit (DADU) by right. The lot qualifies for up to a 750 sq ft footprint (subject to SP guidelines), and alley access makes future development practical. Ideal setup for owner-occupied STR (buyer to verify all short-term rental regulations), long-term rental income, or future expansion. Seller is offering a credit at closing to allow the buyer to replace the newly installed carpet with LVP flooring and/or tile to better fit their vision or investment strategy. Located just blocks from some of East Nashville’s best dining and retail, and minutes to Downtown. With the upcoming Oracle riverfront development and continued investment throughout the area, this pocket continues to see strong growth and demand. Whether you’re looking for a primary residence with upside, a house hack opportunity, or a long-term hold with development potential, this property offers multiple strategic paths. Buyer and buyer’s agent to verify all pertinent information including zoning, STR eligibility, and development potential.