2933/2935 Barneys Ln NE · Cleveland, TN 37323

$349,900

4 bd · 2.5 ba · 2,016 sqft · MultiFamily public records · 7 Days on market

Built 1995 0.25 ac lot

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Why this score? — see what drove the D 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 +14.9/30.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• Livability +3.5/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Invest in Your Future! Updated and Remodeled Duplex in Fantastic North Cleveland City Limits! Each side offers an open floor plan with no carpet throughout for easy maintenance. The updated kitchen features stainless steel appliances, granite countertops, a center island, and plenty of cabinet space. Step out onto the deck, perfect for outdoor grilling or relaxing. Also, included is a convenient laundry closet, two spacious bedrooms, and an upgraded upstairs bathroom with a beautifully tiled walk-in shower. Enjoy the large level backyard with plenty of room for outdoor activities. Storage building with power for tenant use. Conveniently located just minutes from shopping, dining, medical facilities, and I-75!

Key facts

• Laundry closet
• Deck
• Updated kitchen

Tags

• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS
• CENTER ISLAND
• DECK
• LAUNDRY CLOSET

Property features AI

Finance

• Financial info: Residential income property; Two unfurnished units currently each listed with $1,300 actual rent

Exterior

• Parking: Concrete driveway; Paved parking
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Water connected; Sewer connected
• Home design: Duplex; Two levels; Updated/remodeled
• Construction: Brick and vinyl siding exterior; Shingle roof; Block foundation; Built as duplex
• Exterior features: Rain gutters; Outdoor storage; Deck; Porch; Level lot; Paved road frontage; Public-maintained road; City street access

Interior

• Kitchen: Refrigerator; Microwave; Electric range; Dishwasher
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms; 2 half bathrooms
• Heating & cooling: Central heating (natural gas); Central air; Ceiling fans
• Interior features: Ceiling fans; Crown molding; Eat-in kitchen; Granite counters; Kitchen island; Open floorplan; Insulated windows
• Laundry & utility: Laundry in kitchen; Laundry closet; Main-level laundry

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $103 ($1k/yr) — positive. Per door: $52/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $290k (17.2% below list).
• Recommended offer: $290k (17.2% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.5% in Cleveland — 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 70/100 on livability (#55 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment D, crime F, amenities F.
• Cleveland (urban): math 23% / reading 28% proficiency, ranked #85 of 139 in TN (top 61%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Mayfield Elementary (math 17% / reading 22%, grade F, #654 of 952 statewide, top 72%, 412 students, 0% FRL); Cleveland Middle (math 25% / reading 26%, grade F, #147 of 333 statewide, top 45%, 1,271 students, 0% FRL); Cleveland High (math 8% / reading 29%, grade F, #208 of 332 statewide, top 63%, 1,842 students, 0% FRL) — zoned schools average 0% FRL vs 53% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 375 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 768 units permitted in Bradley County in 2024 (0 in 5+ unit buildings).
• At $2,897/mo this rent would consume 51% of the median local household income ($69k/yr) (locally 371% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Bradley County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 6y 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.
• Current owner paid $180k; list at $350k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $289,700 (17.2% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-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. 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?
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 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: 0.83% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.27%
• DSCR: 1.06
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -14.3%
• Equity multiple: 0.49×
• Total profit: $-50,216
• Equity at exit: $52,171

10-year hold

• IRR: -5.6%
• Equity multiple: 0.64×
• Total profit: $-35,656
• Equity at exit: $30,253

Cash invested: $97,972 (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 37323

• Home prices YoY: -23.5%
• Active inventory: 375
• Price-to-rent: 20.1×

Monthly cashflow live

• Estimated rent: $2,897 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$205 /mo · $2,455/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$608
• Net cashflow: $103

Break-even live

Break-even rent $2,766

Max offer price $349,900

Occupancy floor 91%

Sensitivity live

Price	-10% $301	-5% $202	+0% $103	+5% $4	+10% $-95
Rent	-10% $-126	-5% $-11	+0% $103	+5% $218	+10% $332
Rate	-1.0pp $280	-0.5pp $192	base $103	+0.5pp $13	+1.0pp $-80

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,898
Total (2 units)			$2,897

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3221 Rolling Meadow Way Cleveland, TN	4.0	2.0	1768	$2,525	$1.43	45d	1	0.36mi
4033 Billie Ln NE Cleveland, TN	4.0	2.5	2804	$2,670	$0.95	45d	1	0.94mi

Listing history 15 events

1. 2026-05-16
   historical Active Under Contract 718-char remark

   Show marketing remark (718 chars)

   Invest in Your Future! Updated and Remodeled Duplex in Fantastic North Cleveland City Limits! Each side offers an open floor plan with no carpet throughout for easy maintenance. The updated kitchen features stainless steel appliances, granite countertops, a center island, and plenty of cabinet space. Step out onto the deck, perfect for outdoor grilling or relaxing. Also, included is a convenient laundry closet, two spacious bedrooms, and an upgraded upstairs bathroom with a beautifully tiled walk-in shower. Enjoy the large level backyard with plenty of room for outdoor activities. Storage building with power for tenant use. Conveniently located just minutes from shopping, dining, medical facilities, and I-75!

2. 2026-05-16
   status Pending

   Show marketing remark (718 chars)

   Invest in Your Future! Updated and Remodeled Duplex in Fantastic North Cleveland City Limits! Each side offers an open floor plan with no carpet throughout for easy maintenance. The updated kitchen features stainless steel appliances, granite countertops, a center island, and plenty of cabinet space. Step out onto the deck, perfect for outdoor grilling or relaxing. Also, included is a convenient laundry closet, two spacious bedrooms, and an upgraded upstairs bathroom with a beautifully tiled walk-in shower. Enjoy the large level backyard with plenty of room for outdoor activities. Storage building with power for tenant use. Conveniently located just minutes from shopping, dining, medical facilities, and I-75!

3. 2026-05-09
   listed $349,900 Active 718-char remark

   Show marketing remark (718 chars)

   Invest in Your Future! Updated and Remodeled Duplex in Fantastic North Cleveland City Limits! Each side offers an open floor plan with no carpet throughout for easy maintenance. The updated kitchen features stainless steel appliances, granite countertops, a center island, and plenty of cabinet space. Step out onto the deck, perfect for outdoor grilling or relaxing. Also, included is a convenient laundry closet, two spacious bedrooms, and an upgraded upstairs bathroom with a beautifully tiled walk-in shower. Enjoy the large level backyard with plenty of room for outdoor activities. Storage building with power for tenant use. Conveniently located just minutes from shopping, dining, medical facilities, and I-75!

4. 2026-05-09
   listed $349,900 Active

   Show marketing remark (718 chars)

   Invest in Your Future! Updated and Remodeled Duplex in Fantastic North Cleveland City Limits! Each side offers an open floor plan with no carpet throughout for easy maintenance. The updated kitchen features stainless steel appliances, granite countertops, a center island, and plenty of cabinet space. Step out onto the deck, perfect for outdoor grilling or relaxing. Also, included is a convenient laundry closet, two spacious bedrooms, and an upgraded upstairs bathroom with a beautifully tiled walk-in shower. Enjoy the large level backyard with plenty of room for outdoor activities. Storage building with power for tenant use. Conveniently located just minutes from shopping, dining, medical facilities, and I-75!

5. 2021-01-20
   soldstatus $179,900
6. 2021-01-19
   soldstatus $179,900 252-char remark

   Show marketing remark (252 chars)

   You don't want to miss this! Come see a lovely duplex! 2 Bedrooms and 1 ½ Bathrooms. Take notice of the shiny hardwood floors and the living room space. Whether you want to reside here or rent it out this duplex is just what you are looking for!

7. 2021-01-19
   soldstatus $179,900

   Show marketing remark (252 chars)

   You don't want to miss this! Come see a lovely duplex! 2 Bedrooms and 1 ½ Bathrooms. Take notice of the shiny hardwood floors and the living room space. Whether you want to reside here or rent it out this duplex is just what you are looking for!

8. 2021-01-19
   soldstatus $179,900

   Show marketing remark (252 chars)

   You don't want to miss this! Come see a lovely duplex! 2 Bedrooms and 1 ½ Bathrooms. Take notice of the shiny hardwood floors and the living room space. Whether you want to reside here or rent it out this duplex is just what you are looking for!

9. 2021-01-19
   soldstatus $179,900

   Show marketing remark (252 chars)

   You don't want to miss this! Come see a lovely duplex! 2 Bedrooms and 1 ½ Bathrooms. Take notice of the shiny hardwood floors and the living room space. Whether you want to reside here or rent it out this duplex is just what you are looking for!

10. 2021-01-19
    soldstatus $179,900

    Show marketing remark (252 chars)

    You don't want to miss this! Come see a lovely duplex! 2 Bedrooms and 1 ½ Bathrooms. Take notice of the shiny hardwood floors and the living room space. Whether you want to reside here or rent it out this duplex is just what you are looking for!

11. 2020-12-19
    listed $179,900
12. 2020-12-19
    listed $179,900
13. 2020-12-18
    listed $179,900
14. 2020-12-18
    listed $179,900
15. 2005-02-28
    soldstatus $110,250

ⓘ 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: $2,455 · $205/mo
• Projected year-2 tax: $2,484 · $207/mo
• Expected delta: +$29/yr (+$2/mo · 1.2%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,764
• − Mortgage interest: −$19,600
• − Property taxes: −$2,455
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,781
• − Management: −$2,781
• − Depreciation: −$10,179
• Taxable loss: −$4,781
• Est. tax savings @ 24.0%: +$1,148
• After-tax cash flow: $2,388/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: Cleveland
• NCES district ID: 4700690
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 28% ▼ -6.00%
• Median HH income: $37,612
• Composite: 21.28/100
• National rank: #8394
• State rank: #85 of 139 in TN

Livability — Cleveland

• Score: 70/100
• State rank: #55
• US rank: #7689

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cleveland, TN
• County: Bradley County · 99,337 people
• City population: 99,337
• Metro: Cleveland, TN
• Population (ZIP): 31,948
• Household income: $68,768
• Rent vs Own: 19.7% rent · 80.3% own
• Severe rent burden: 371.0

Population outlook (Bradley County) Hauer SSP2

• Today (2025): 114,901 people
• By 2030: 120,137 · +4.6%
• By 2040: 130,125 · +13.2%
• By 2050: 139,257 · +21.2%
• By 2075: 161,664 · +40.7%
• By 2100: 179,767 · +56.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 7% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Subsaharan African 2% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% Russian/Polish/Slavic 2%

Political lean MEDSL · Bradley

• 2024 margin: Solid R (+58.9) · D 20.0% · R 78.9% · Other 1.1%
• 2008→2024 swing: -9.2pp toward R · 2008: -49.7pp · 2024: -58.9pp
• All cycles: 2024: R+58.9 2020: R+55.3 2016: R+59.1 2012: R+53.9 2008: R+49.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.38%
• Current HPI: 287.3643
• Rent YoY: —
• Metro: Cleveland, TN
• 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

+217.4% since first listed

15 events — show timeline

• 2026-05-16 Contingent — RCAOR
• 2026-05-16 Pending — GCAR
• 2026-05-09 Listed $349,900 GCAR
• 2026-05-09 Listed $349,900 RCAOR
• 2021-01-20 Sold (Public Records) $179,900 Public Records
• 2021-01-19 Sold (MLS) $179,900 REALTRACS as Distributed by MLS Grid
• 2021-01-19 Sold (MLS) $179,900 REALTRACS as Distributed by MLS Grid
• 2021-01-19 Sold (MLS) $179,900 RCAOR
• 2021-01-19 Sold (MLS) $179,900 Knoxville MLS
• 2021-01-19 Sold (MLS) $179,900 GCAR
• 2020-12-19 Listed $179,900 REALTRACS as Distributed by MLS Grid
• 2020-12-19 Listed $179,900 REALTRACS as Distributed by MLS Grid
• 2020-12-18 Listed $179,900 RCAOR
• 2020-12-18 Listed $179,900 Knoxville MLS
• 2005-02-28 Sold (Public Records) $110,250 Public Records

Property tax history

+2.2%/yr

Latest (2025): $2,455 · +28.7% YoY. Source: county tax records.