3115 Patcham Dr #201 · Nashville-Davidson metropolitan government (balance), TN 37135

$298,000

2 bd · 2.0 ba · 1,156 sqft · Condo public records · 145 Days on market

Built 2022 Good condition $258/sqft · at area comps Est $298k · at est. $315/mo HOA · 15% of rent ↓ 4% since listing

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.3/30.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• 1% rule +2.1/10.0
• Schools +1.0/10.0
• DSCR +0.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this top-floor end-unit condo featuring 2 Bedrooms & 2 Bathrooms. The home is bathed in natural light from the many expansive windows. The open-concept floor plan features crown molding, upgraded quartz countertops, upgraded stainless steel appliances, vented hood($3,200 package upgrade), subway tile backsplash and a large pantry. The large, inviting living area opens out to a private balcony. The primary suite has an ensuite bath with a tiled shower and walk-in closet. The second bedroom offers flexibility as a guest room or home office. Both bedrooms feature ceiling fans.

Key facts

• Vented hood
• Top floor end unit
• Private balcony

Tags

• TOP FLOOR END UNIT
• PRIVATE BALCONY
• LARGE STORAGE ROOM
• UPGRADED QUARTZ COUNTERTOPS
• VENTED HOOD
• SUBWAY TILE BACKSPLASH

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $298k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-525 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $205k (31.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (29.3% below list).
• Recommended offer: $205k (31.1% below list) — sets the bar for cash-flow.
• Cap rate 4.2% vs local median 3.0% in Nashville-Davidson metropolitan government (balance) — 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.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Davidson County (urban): math 12% / reading 19% proficiency, ranked #126 of 139 in TN (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: A. Z. Kelley Elementary (math 18% / reading 22%, grade F, #644 of 952 statewide, top 68%, 709 students, 0% FRL); Thurgood Marshall Middle (math 4% / reading 7%, grade F, #291 of 333 statewide, top 88%, 753 students, 0% FRL); Cane Ridge High School (math 0% / reading 11%, grade F, #307 of 332 statewide, top 92%, 1,948 students, 0% FRL) — zoned schools average 0% FRL vs 66% district-wide (66 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 446 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 6,873 units permitted in Davidson County in 2024 (4,138 in 5+ unit buildings).
• This rent is only 17% of the median local income ($149k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Davidson County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 145 days — a 12% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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.

Recommended offer $205,302 (31.1% below list)

Questions for the listing agent

1. 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?
2. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.71% ✗
• Cap rate: 4.18%
• Cash-on-cash: -7.55%
• DSCR: 0.66
• GRM: 11.8

CMA / ARV

• ARV (median comp): $298,129
• List price: $298,000
• Delta: -0.04%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3115 Patcham Dr #103	0.00mi	2/2.0	1,156 (0%)	2mo	$280,000	$242	98
3107 Patcham Dr #103	0.02mi	2/2.0	1,156 (0%)	3mo	$270,000	$234	96
828 Goswell Dr #102	0.25mi	2/2.0	1,156 (0%)	2mo	$280,000	$242	87
836 Goswell Dr #102	0.29mi	2/2.0	1,156 (0%)	3mo	$279,000	$241	84
2355 Fairchild Cir #102	0.32mi	2/2.0	1,260 (+9%)	1mo	$287,400	$228	69
1011 Milson Ln	0.05mi	3/2.5 (+1)	1,320 (+14%)	0mo	$325,000	$246	67
1033 Milson Ln	0.09mi	3/2.5 (+1)	1,320 (+14%)	6mo	$330,000	$250	60
116 Skylark Aly	0.18mi	3/2.5 (+1)	1,360 (+18%)	3mo	$361,400	$266	57
421 Penfold Aly	0.44mi	2/2.0	1,393 (+20%)	6mo	$401,900	$289	50
407 Penfold Aly	0.63mi	2/2.0	1,393 (+20%)	4mo	$409,900	$294	42
110 Cedar Ridge Dr	0.99mi	3/2.0 (+1)	1,250 (+8%)	6mo	$332,000	$266	41
128 Stoneridge Pkwy	0.89mi	3/1.0 (+1)	1,324 (+14%)	2mo	$265,000	$200	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -29.4%
• Equity multiple: 0.02×
• Total profit: $-81,599
• Equity at exit: $44,433

10-year hold

• IRR: -29.8%
• Equity multiple: -0.36×
• Total profit: $-113,638
• Equity at exit: $25,766

Cash invested: $83,440 (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 37135

• Home prices YoY: -15.5%
• Active inventory: 446
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $2,106 high
• Mortgage (P&I): −$1,563
• Tax from tax record: −$187 /mo · $2,242/yr
• Insurance: −$124
• HOA: −$315
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $-525

Break-even live

Break-even rent $2,771

Max offer price $205,302

Occupancy floor —

Sensitivity live

Price	-10% $-356	-5% $-440	+0% $-525	+5% $-609	+10% $-693
Rent	-10% $-691	-5% $-608	+0% $-525	+5% $-442	+10% $-358
Rate	-1.0pp $-375	-0.5pp $-449	base $-525	+0.5pp $-602	+1.0pp $-681

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: $74,500
• Closing costs: $8,940
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1029 Milson Ln Unit 1 Nolensville, TN	2.0	2.5	1372	$2,100	$1.53	107d	1	0.11mi
828 Goswell Dr #4 Nolensville, TN	2.0	2.0	1156	$1,857	$1.61	9d	1	0.26mi
836 Goswell Dr #203 Nolensville, TN	2.0	2.0	1156	$1,850	$1.60	68d	1	0.30mi
100 Oasis Dr Unit 1 La Vergne, TN	3.0	2.0	1385	$2,150	$1.55	7d	1	0.59mi
100 Oasis Dr Unit 9 La Vergne, TN	2.0	2.0	1385	$1,850	$1.34	7d	1	0.59mi
101 Oasis Dr Unit 10 La Vergne, TN	3.0	2.0	1385	$2,150	$1.55	7d	1	0.62mi
101 Oasis Dr Unit 9 La Vergne, TN	2.0	2.0	1385	$1,850	$1.34	7d	1	0.62mi
810 Summer Hill Ln La Vergne, TN	3.0	1.5	1050	$2,100	$2.00	7d	1	0.87mi
136 Kingsridge Dr Unit 36 La Vergne, TN	2.0	1.0	740	$1,249	$1.69	112d	1	1.14mi
121 Kingsridge Dr La Vergne, TN	2.0	1.0	740	$1,175	$1.59	139d	1	1.18mi
100 Madison Dr La Vergne, TN	3.0	2.0–2.5	1145	$1,532	$1.34	7d	11	1.18mi

Property features AI

Finance

• Other: Condominium common interest
• HOA & community: HOA with monthly feeAssociation fee includes structure and grounds maintenance, internet, and trashCommunity amenities: dog park, playground, sidewalks, underground utilities, trailsPets allowed

Exterior

• Parking: Assigned parking (1 open space)
• Security: Fire sprinkler systemSecurity gateSmoke detectors
• Utilities: Public waterPublic sewerWater available
• Home design: Attached flat condoOne story
• Construction: Hardboard sidingAsphalt roofBuilt (existing)
• Exterior features: Porch (covered)BalconyAccessible approach with rampEnd unit

Interior

• Kitchen: Eat-in kitchenOvenRangeDishwasherDisposalMicrowaveRefrigeratorStainless steel appliances
• Bedrooms: 2 bedrooms (both on main level)Primary suite with full master bath
• Flooring: CarpetLaminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heatingCentral air
• Interior features: Ceiling fan(s)Open floorplanGreat room living area
• Laundry & utility: Washer hookupElectric dryer hookupWasher and dryer listed among appliances

HOA detail $315/mo · $3,780/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-09-23
   days on market $298,000 Active 145 DOM
2. 2026-09-22
   days on market $298,000 Active 144 DOM
3. 2026-09-21
   days on market $298,000 Active 143 DOM
4. 2026-09-20
   days on market $298,000 Active 142 DOM
5. 2026-09-19
   days on market $298,000 Active 141 DOM
6. 2026-09-18
   days on market $298,000 Active 140 DOM
7. 2026-09-16
   days on market $298,000 Active 138 DOM
8. 2026-09-15
   days on market $298,000 Active 137 DOM
9. 2026-09-14
   days on market $298,000 Active 136 DOM
10. 2026-09-13
    days on market $298,000 Active 135 DOM
11. 2026-09-12
    days on market $298,000 Active 134 DOM
12. 2026-09-11
    days on market $298,000 Active 133 DOM
13. 2026-09-05
    days on market $298,000 Active 127 DOM
14. 2026-09-04
    days on market $298,000 Active 126 DOM
15. 2026-09-03
    days on market $298,000 Active 125 DOM
16. 2026-08-31
    days on market $298,000 Active 122 DOM
17. 2026-08-29
    days on market $298,000 Active 120 DOM
18. 2026-08-28
    days on market $298,000 Active 119 DOM
19. 2026-08-27
    days on market $298,000 Active 118 DOM
20. 2026-08-26
    days on market $298,000 Active 117 DOM
21. 2026-08-25
    days on market $298,000 Active 116 DOM
22. 2026-08-24
    days on market $298,000 Active 115 DOM
23. 2026-08-23
    days on market $298,000 Active 114 DOM
24. 2026-08-22
    days on market $298,000 Active 113 DOM
25. 2026-08-21
    days on market $298,000 Active 112 DOM
26. 2026-08-20
    days on market $298,000 Active 111 DOM
27. 2026-08-19
    days on market $298,000 Active 110 DOM
28. 2026-08-18
    days on market $298,000 Active 109 DOM
29. 2026-08-17
    days on market $298,000 Active 108 DOM
30. 2026-08-16
    days on market $298,000 Active 107 DOM
31. 2026-08-15
    days on market $298,000 Active 106 DOM
32. 2026-08-15
    days on market $298,000 Active 105 DOM
33. 2026-08-13
    days on market $298,000 Active 104 DOM
34. 2026-08-12
    days on market $298,000 Active 103 DOM
35. 2026-08-11
    days on market $298,000 Active 102 DOM
36. 2026-08-10
    days on market $298,000 Active 101 DOM
37. 2026-08-09
    days on market $298,000 Active 100 DOM
38. 2026-08-08
    days on market $298,000 Active 99 DOM
39. 2026-08-07
    days on market $298,000 Active 98 DOM
40. 2026-08-06
    days on market $298,000 Active 97 DOM
41. 2026-08-05
    days on market $298,000 Active 96 DOM
42. 2026-08-04
    days on market $298,000 Active 95 DOM
43. 2026-08-03
    days on market $298,000 Active 94 DOM
44. 2026-07-31
    days on market $298,000 Active 91 DOM
45. 2026-07-30
    days on market $298,000 Active 90 DOM
46. 2026-07-30
    days on market $298,000 Active 89 DOM
47. 2026-07-28
    days on market $298,000 Active 88 DOM
48. 2026-07-26
    days on market $298,000 Active 86 DOM
49. 2026-07-24
    days on market $298,000 Active 84 DOM
50. 2026-07-23
    days on market $298,000 Active 83 DOM

ⓘ 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: $2,242 · $187/mo
• Projected year-2 tax: $2,242 · $187/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $25,275
• − Mortgage interest: −$16,693
• − Property taxes: −$2,242
• − Insurance: −$1,490
• − Repairs & maintenance: −$2,022
• − Management: −$2,022
• − HOA: −$3,780
• − Depreciation: −$8,669
• Taxable loss: −$11,642
• Est. tax savings @ 24.0%: +$2,794
• After-tax cash flow: $-3,503/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This top-floor end-unit condo is in excellent condition with a good condition score of 80. It features an open-concept floor plan, upgraded kitchen and bathrooms, and a well-maintained exterior. The property is move-in ready and would benefit from minor aesthetic improvements to further enhance its value.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and property value ↑
• Both Add smart home features — Improves convenience and marketability ↑

F Composite school gradezoned avg 10/100

Zoned Schools

Elementary A. Z. Kelley Elementary F TN #644/952 Nat'l #33,283/41,679 Middle Thurgood Marshall Middle F TN #291/333 Nat'l #13,801/14,009 High Cane Ridge High School F TN #307/332 Nat'l #16,850/17,239

Schools (NCES district)

• District: Davidson County
• NCES district ID: 4703180
• Math proficiency: 12% ▼ -17.00%
• Reading proficiency: 19% ▼ -7.00%
• Median HH income: $48,667
• Composite: 14.03/100
• National rank: #9472
• State rank: #126 of 139 in TN

Livability — Nashville-Davidson metropolitan government (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Nashville-Davidson metropolitan government (balance), TN
• County: Williamson County · 808,568 people
• City population: 677,595
• Metro: Nashville-Davidson--Murfreesboro--Franklin, TN
• Population (ZIP): 24,409
• Household income: $148,819
• Rent vs Own: 7.4% rent · 92.6% own

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Population outlook (Davidson County) Hauer SSP2

• Today (2025): 808,568 people
• By 2030: 874,489 · +8.2%
• By 2040: 1,009,046 · +24.8%
• By 2050: 1,147,294 · +41.9%
• By 2075: 1,475,439 · +82.5%
• By 2100: 1,714,101 · +112.0%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 8% Hispanic / Latino 6% Asian 5% Black 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Italian 5% Serbian 1% Slovak 1%
• Foreign-born: 17% · Canada, Jamaica, China
• Languages at home: 84% English-only · Arabic 5% Spanish 4% Other Indo-European 3%

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Political lean MEDSL · Davidson

• 2024 margin: Strong D (+27.4) · D 62.7% · R 35.3% · Other 2.0%
• 2008→2024 swing: +6.5pp toward D · 2008: 21.0pp · 2024: 27.4pp
• All cycles: 2024: D+27.4 2020: D+32.1 2016: D+26.0 2012: D+18.7 2008: D+21.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.95%
• Current HPI: 369.3079
• Rent YoY: —
• Metro: Nashville-Davidson--Murfreesboro--Franklin, TN
• State GDP YoY: ▲ 2.78%
• F500 in state: 22

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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

Property features AI

Finance

• Other: Condominium common interest
• HOA & community: HOA with monthly feeAssociation fee includes structure and grounds maintenance, internet, and trashCommunity amenities: dog park, playground, sidewalks, underground utilities, trailsPets allowed

Exterior

• Parking: Assigned parking (1 open space)
• Security: Fire sprinkler systemSecurity gateSmoke detectors
• Utilities: Public waterPublic sewerWater available
• Home design: Attached flat condoOne story
• Construction: Hardboard sidingAsphalt roofBuilt (existing)
• Exterior features: Porch (covered)BalconyAccessible approach with rampEnd unit

Interior

• Kitchen: Eat-in kitchenOvenRangeDishwasherDisposalMicrowaveRefrigeratorStainless steel appliances
• Bedrooms: 2 bedrooms (both on main level)Primary suite with full master bath
• Flooring: CarpetLaminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heatingCentral air
• Interior features: Ceiling fan(s)Open floorplanGreat room living area
• Laundry & utility: Washer hookupElectric dryer hookupWasher and dryer listed among appliances

Price history

-3.6% since first listed

12 events — show timeline

• 2026-05-01 Listed $298,000 REALTRACS as Distributed by MLS Grid
• 2026-02-13 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2025-05-24 Listed $315,900 REALTRACS as Distributed by MLS Grid
• 2025-05-19 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2025-03-01 Listed $315,900 REALTRACS as Distributed by MLS Grid
• 2025-02-09 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2025-01-06 Price Changed $315,900 REALTRACS as Distributed by MLS Grid
• 2024-06-23 Price Changed $308,900 REALTRACS as Distributed by MLS Grid
• 2024-02-09 Listed $335,900 REALTRACS as Distributed by MLS Grid
• 2022-06-17 Sold (MLS) $309,100 REALTRACS as Distributed by MLS Grid
• 2022-05-24 Pending — REALTRACS as Distributed by MLS Grid
• 2022-05-24 Listed $309,100 REALTRACS as Distributed by MLS Grid

Property tax history

+14.9%/yr

Latest (2025): $2,242 · +11.9% YoY. Source: county tax records.