93 E College St · Henry, TN 38231

$44,000

2 bd · 1.0 ba · 1,077 sqft · SingleFamily public records · 82 Days on market

Built 1910 0.39 ac lot

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.9/10.0
• ARV discount +7.5/15.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks

INVESTORS CHECK OUT THIS. Buyer/buyers agent to verify any/all pertinent information. Do not approach homes without contacting sellers agent. Listed for tax appraisal amount. Any offers will be presented. Will sell below tax appraisal amount.

Key facts

• 0.39 acre lot
• Built 1910
• Listed 82 days

Property features AI

Finance

• Other: Lot approximately 0.39 acres (16,988 sq ft)

Exterior

• Parking: No garage
• Utilities: Public water; Septic tank sewer; Paved road access
• Home design: Single-family residence; One story
• Construction: Built with other/unspecified materials
• Exterior features: No notable exterior features listed; No fencing

Interior

• Bedrooms: 1 main-level bedroom; Total of 4 rooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating; No cooling
• Interior features: Appliances not included; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $44k.

Deal economics

• At list price, monthly cash flow is $497 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($965 rent vs $44k).
• Recommended offer: $41k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#334 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: health & safety C-, crime F, amenities F.
• Henry County (rural): math 30% / reading 30% proficiency, ranked #60 of 139 in TN (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Henry Elementary (math 32% / reading 22%, grade F, #496 of 952 statewide, top 55%, 335 students, 0% FRL) — zoned schools average 0% FRL vs 55% district-wide (55 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 13 active listings in the ZIP; 19 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($304 loan paydown + $3k appreciation (7.9% local appreciation)).
• Henry County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (7.9% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($41k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $41,360 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.19% ✓
• Cap rate: 19.86%
• Cash-on-cash: 48.45%
• DSCR: 3.16
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 59.7%
• Equity multiple: 5.01×
• Total profit: $49,393
• Equity at exit: $32,997

10-year hold

• IRR: 54.9%
• Equity multiple: 10.72×
• Total profit: $119,738
• Equity at exit: $65,090

Cash invested: $12,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Tennessee: 87 Strongly Landlord-Friendly · R+13
• County: — inherits STATE
• City: — inherits STATE

14-day notice (URLTA); generally landlord-favorable; Nashville court paced moderate.

Methodology + full state rankings →

ZIP-level market 38231

• Home prices YoY: 2.8%
• Active inventory: 13
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $965 medium
• Mortgage (P&I): −$231
• Tax from tax record: −$16 /mo · $190/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $497

Break-even live

Break-even rent $335

Max offer price $44,000

Occupancy floor 43%

Sensitivity live

Price	-10% $522	-5% $510	+0% $497	+5% $485	+10% $473
Rent	-10% $421	-5% $459	+0% $497	+5% $536	+10% $574
Rate	-1.0pp $520	-0.5pp $509	base $497	+0.5pp $486	+1.0pp $474

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $11,000
• Closing costs: $1,320
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $44,000 Active 82 DOM
2. 2026-06-18
   days on market $44,000 Active 80 DOM
3. 2026-06-17
   days on market $44,000 Active 79 DOM
4. 2026-06-16
   days on market $44,000 Active 78 DOM
5. 2026-06-15
   days on market $44,000 Active 77 DOM
6. 2026-06-13
   days on market $44,000 Active 75 DOM
7. 2026-06-12
   days on market $44,000 Active 74 DOM
8. 2026-06-09
   days on market $44,000 Active 71 DOM
9. 2026-06-08
   days on market $44,000 Active 70 DOM
10. 2026-06-08
    days on market $44,000 Active 69 DOM
11. 2026-06-07
    days on market $44,000 Active 68 DOM
12. 2026-06-03
    days on market $44,000 Active 65 DOM
13. 2026-06-02
    days on market $44,000 Active 64 DOM
14. 2026-06-01
    days on market $44,000 Active 63 DOM
15. 2026-05-31
    days on market $44,000 Active 62 DOM
16. 2026-04-16
    historical Active Under Contract
17. 2026-03-30
    listed $44,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TN · Resets to sale price

• Current annual tax: $190 · $16/mo
• Projected year-2 tax: $312 · $26/mo
• Expected delta: +$122/yr (+$10/mo · 64.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,580
• − Mortgage interest: −$2,465
• − Property taxes: −$190
• − Insurance: −$220
• − Repairs & maintenance: −$926
• − Management: −$926
• − Depreciation: −$1,280
• Taxable income: $5,573
• Est. tax owed @ 24.0%: −$1,337
• After-tax cash flow: $4,632/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Henry County
• NCES district ID: 4701830
• Math proficiency: 30% ▼ -3.00%
• Reading proficiency: 30% ▼ -6.00%
• Median HH income: $41,770
• Composite: 25.42/100
• National rank: #7457
• State rank: #60 of 139 in TN

Livability — Henry

• Score: 57/100
• State rank: #334
• US rank: #22148

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Henry, TN
• Population (ZIP): 2,012

Population outlook (Henry County) Hauer SSP2

• Today (2025): 31,750 people
• By 2030: 31,277 · -1.5%
• By 2040: 30,064 · -5.3%
• By 2050: 28,675 · -9.7%
• By 2075: 25,767 · -18.8%
• By 2100: 22,318 · -29.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Black 6% Two or more races 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Serbian 2% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+55.3) · D 21.8% · R 77.1% · Other 1.1%
• 2008→2024 swing: -33.0pp toward R · 2008: -22.4pp · 2024: -55.3pp
• All cycles: 2024: R+55.3 2020: R+51.1 2016: R+49.8 2012: R+30.2 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.86%
• Current HPI: 290.6775
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.78%
• F500 in state: 22

Industry mix (Fortune 500 HQ in TN)

Industry	F500 HQs	Revenue
▸Healthcare	3	$91B
▸Retail	3	$72B
▸Transportation / Logistics	1	$88B
▸Paper / Packaging	1	$19B
▸Insurance	1	$13B
▸Energy	1	$12B

Price history

2 events — show timeline

• 2026-04-16 Contingent — TVAR
• 2026-03-30 Listed $44,000 TVAR

Property tax history

+3.0%/yr

Latest (2025): $190 · +15.2% YoY. Source: county tax records.