Bedford A Plan

Mount Juliet, TN 37122

$264,433F

4 bd · 2.0 ba · 1,720 sqft · Built — · SingleFamily · Active · 647 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,701/mo
• Mortgage (P&I): −$2,122
• Tax + insurance: −$674
• HOA: −$0
• Vac / Maint / Mgmt: −$567
• Net cashflow: $-663/mo
• Annual: $-7,951/yr
• Cap rate: 4.33%
• Cash-on-cash: -7.02%
• DSCR: 0.69
• 1% rule: 0.67%
• Cash to close: $113,295

Investor read

• This is a 4-bed/2.0-bath single-family listed at $264k. Condition is rated good.
• At list price, monthly cash flow is $-663 ($-8k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $264k).
• It's been on market 647 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $233k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#48 in TN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Wilson County (rural): math 42% / reading 43% proficiency, ranked #10 of 139 in TN (top 7%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.7%/yr); 972 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,927 units permitted in Wilson County in 2024 (10 in 5+ unit buildings).
• Wilson County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Cap rate 4.3% vs local median 2.7% in Mount Juliet — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 647 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.