388 Davis Mill Rd · Parsons, TN 38363

$59,000

2 bd · 1.0 ba · 576 sqft · Other public records · 49 Days on market

Built 1978 1.00 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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Schools +3.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this beautifully updated two-bedroom, one-bathroom mobile home, situated on a spacious one-acre lot that offers both privacy and room to grow. Recently remodeled, this home features fresh new flooring throughout, giving it a clean, modern feel that's move-in ready. Inside, you'll find a functional layout with comfortable living spaces, making it ideal for first-time buyers or those looking to downsize. Outside, the property shines with plenty of open space for outdoor living, gardening, or future improvements. A convenient storage shed adds extra value, providing the perfect spot for tools, equipment, or hobbies. Whether you're searching for an affordable place to call home or a solid rental investment, this property checks all the boxes with its updates, land, and potential.

Key facts

• One acre lot
• Updated mobile home
• Fresh new flooring

Tags

• ONE ACRE LOT
• UPDATED MOBILE HOME
• FRESH NEW FLOORING
• CONVENIENT STORAGE SHED
• OPEN SPACE FOR OUTDOOR LIVING

Property features AI

Finance

• Other: Living area reported as 576 square feet (assessor)

Exterior

• Parking: Driveway with space for 2 vehicles (2 open parking spaces)
• Utilities: Well water; Septic tank; Electricity available
• Home design: Residential mobile home; One story
• Construction: Aluminum siding; Metal roof; Existing (pre-owned) home
• Exterior features: Deck; Storage structure on the property; Approximately 1 acre lot

Interior

• Kitchen: Electric oven and range; Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Wall/window air conditioning units
• Interior features: Electric oven, Electric range, Refrigerator; Vinyl flooring; No basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $59k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($799 rent vs $59k).
• Recommended offer: $57k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#288 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.
• Decatur County (rural): math 45% / reading 33% proficiency, ranked #19 of 139 in TN (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Parsons Elementary (math 52% / reading 47%, grade D, #119 of 952 statewide, top 14%, 376 students, 0% FRL); Riverside High School (math 27% / reading 27%, grade F, #104 of 332 statewide, top 33%, 460 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 89 active listings in the ZIP; 10 units permitted in Decatur County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($408 loan paydown + $6k appreciation (10.0% local appreciation)).
• Decatur County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $57,230 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.35% ✓
• Cap rate: 10.84%
• Cash-on-cash: 16.23%
• DSCR: 1.72
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.3%
• Equity multiple: 3.81×
• Total profit: $46,375
• Equity at exit: $53,152

10-year hold

• IRR: 31.3%
• Equity multiple: 8.59×
• Total profit: $125,401
• Equity at exit: $114,624

Cash invested: $16,520 (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 38363

• Home prices YoY: 9.8%
• Active inventory: 89
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $799 medium
• Mortgage (P&I): −$309
• Tax est. 1.5%: −$74 /mo · $885/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $223

Break-even live

Break-even rent $516

Max offer price $59,000

Occupancy floor 67%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $59,000 Active 49 DOM
2. 2026-06-17
   days on market $59,000 Active 48 DOM
3. 2026-06-16
   days on market $59,000 Active 47 DOM
4. 2026-06-15
   days on market $59,000 Active 46 DOM
5. 2026-06-13
   days on market $59,000 Active 44 DOM
6. 2026-06-12
   days on market $59,000 Active 43 DOM
7. 2026-06-09
   days on market $59,000 Active 40 DOM
8. 2026-06-08
   days on market $59,000 Active 39 DOM
9. 2026-06-08
   days on market $59,000 Active 38 DOM
10. 2026-06-07
    days on market $59,000 Active 37 DOM
11. 2026-06-03
    days on market $59,000 Active 34 DOM
12. 2026-06-02
    days on market $59,000 Active 33 DOM
13. 2026-06-01
    days on market $59,000 Active 32 DOM
14. 2026-05-31
    days on market $59,000 Active 31 DOM
15. 2026-04-30
    listed $59,000 Active
16. 2026-04-29
    listed $59,000 Active 797-char remark

    Show marketing remark (797 chars)

    Welcome to this beautifully updated two-bedroom, one-bathroom mobile home, situated on a spacious one-acre lot that offers both privacy and room to grow. Recently remodeled, this home features fresh new flooring throughout, giving it a clean, modern feel that's move-in ready. Inside, you'll find a functional layout with comfortable living spaces, making it ideal for first-time buyers or those looking to downsize. Outside, the property shines with plenty of open space for outdoor living, gardening, or future improvements. A convenient storage shed adds extra value, providing the perfect spot for tools, equipment, or hobbies. Whether you're searching for an affordable place to call home or a solid rental investment, this property checks all the boxes with its updates, land, and potential.

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% 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: $9,587
• − Mortgage interest: −$3,305
• − Property taxes: −$885
• − Insurance: −$295
• − Repairs & maintenance: −$767
• − Management: −$767
• − Depreciation: −$1,716
• Taxable income: $1,852
• Est. tax owed @ 24.0%: −$444
• After-tax cash flow: $2,237/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: Decatur County
• NCES district ID: 4700960
• Math proficiency: 45% ▼ -5.00%
• Reading proficiency: 33% ▬ 0.00%
• Median HH income: $34,877
• Composite: 32.28/100
• National rank: #5756
• State rank: #19 of 139 in TN

Livability — Parsons

• Score: 59/100
• State rank: #288
• US rank: #20310

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

• City population: 5,600
• Population (ZIP): 5,600

Population outlook (Decatur County) Hauer SSP2

• Today (2025): 11,311 people
• By 2030: 10,995 · -2.8%
• By 2040: 10,268 · -9.2%
• By 2050: 9,512 · -15.9%
• By 2075: 7,988 · -29.4%
• By 2100: 6,639 · -41.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Black 5% Hispanic / Latino 3% Two or more races 2% Asian 2%
• Common ancestry: Slovak 2% Italian 1% Portuguese 1%
• Foreign-born: 2%
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 1%

Political lean MEDSL · Decatur

• 2024 margin: Solid R (+69.1) · D 15.0% · R 84.1%
• 2008→2024 swing: -36.9pp toward R · 2008: -32.2pp · 2024: -69.1pp
• All cycles: 2024: R+69.1 2020: R+63.4 2016: R+58.7 2012: R+37.0 2008: R+32.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 27.34%
• Current HPI: 305.7717
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-30 Listed $59,000 REALTRACS as Distributed by MLS Grid
• 2026-04-29 Listed $59,000 CWTAR

Property tax history

+8.3%/yr

Latest (2025): $101 · -2.9% YoY. Source: county tax records.