2609 Campbell Bridge Rd NW · Cleveland, TN 37312

$365,000

None bd · 3.0 ba · 1,925 sqft · MultiFamily public records · 35 Days on market

Built 1988

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Why this score? — see what drove the C- 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 +21.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +4.9/10.0
• Livability +3.5/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Looking for a turn key rental property that is low maintenance, producing cash flow and in an excellent location in North Cleveland? If so, this triplex is perfect for you! Enjoy 100% occupancy with long term tenants in place from day one. All tenants are currently on a month to month lease, allowing the new homeowner a ton of flexibility to continue renting to the great tenants already in place or house hack and move in into one of units. This property is an ideal opportunity for investors. Its low maintenance, all brick exterior sits on a flat half acre lot and has plenty of parking for each unit. It was updated three years ago, with a new roof, gutters, LVP flooring, fresh paint and other interior updates as well. Each unit has one large bedroom and one full bathroom with an eat in kitchen and living room with great light throughout. One of the end units has the added bonus of an attached one car garage that is extra long and deep. You don't want to miss the opportunity to add this triplex to your rental portfolio. Call and schedule a showing today!

Key facts

• Month to month lease
• Long term tenants
• Excellent location

Tags

• TURN KEY RENTAL PROPERTY
• EXCELLENT LOCATION
• 100 PERCENT OCCUPANCY
• LONG TERM TENANTS
• MONTH TO MONTH LEASE
• LOW MAINTENANCE

Property features AI

Finance

• Financial info: Three total units; Owner pays water and other utilities; Tenants pay cable TV and electricity; Annual tax amount reported

Exterior

• Parking: Attached 1-car garage; Asphalt parking
• Utilities: Public water; Public sewer
• Home design: Residential income property; Existing construction
• Construction: Brick construction; Shingle roof
• Exterior features: Public water available; Public sewer

Interior

• Heating & cooling: Wall/window unit(s); Other cooling
• Interior features: Three or more levels

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1-bath units multifamily listed at $365k.

Deal economics

• At list price, monthly cash flow is $538 ($6k/yr) — positive. Per door: $179/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 $362k (0.8% below list).
• Recommended offer: $354k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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: Candy'S Creek Cherokee Elementary School (math 43% / reading 47%, grade D-, #158 of 952 statewide, top 17%, 471 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: Rents flat; 549 active listings in the ZIP; solid renter incomes; 768 units permitted in Bradley County in 2024 (0 in 5+ unit buildings).
• At $3,619/mo this rent would consume 55% of the median local household income ($78k/yr) (locally 908% 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 $3k of loan paydown is wiped out by about $11k 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

• It's been on market 35 days — a 3% lower offer ($354k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 5y 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.

Risks & watch-outs

• Climate carrying-cost: major flood 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 $354,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 0.99% ✗
• Cap rate: 8.06%
• Cash-on-cash: 6.31%
• DSCR: 1.28
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.15% rent growth · sell at horizon

5-year hold

• IRR: -9.6%
• Equity multiple: 0.66×
• Total profit: $-35,051
• Equity at exit: $54,423

10-year hold

• IRR: -4.4%
• Equity multiple: 0.75×
• Total profit: $-25,805
• Equity at exit: $31,559

Cash invested: $102,200 (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 37312

• Rents YoY: 0.1%
• Active inventory: 549
• Price-to-rent: 25.2×

Monthly cashflow live

• Estimated rent: $3,619 medium
• Mortgage (P&I): −$1,914
• Tax from tax record: −$255 /mo · $3,060/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$760
• Net cashflow: $538

Break-even live

Break-even rent $2,938

Max offer price $365,000

Occupancy floor 80%

Sensitivity live

Price	-10% $744	-5% $641	+0% $538	+5% $435	+10% $331
Rent	-10% $252	-5% $395	+0% $538	+5% $681	+10% $824
Rate	-1.0pp $722	-0.5pp $631	base $538	+0.5pp $443	+1.0pp $347

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,618
Total (3 units)			$3,619

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-19
   days on market $365,000 Active 35 DOM
2. 2026-06-18
   days on market $365,000 Active 34 DOM
3. 2026-06-17
   days on market $365,000 Active 33 DOM
4. 2026-06-16
   days on market $365,000 Active 32 DOM
5. 2026-06-15
   days on market $365,000 Active 31 DOM
6. 2026-06-14
   days on market $365,000 Active 29 DOM
7. 2026-06-13
   days on market $365,000 Active 28 DOM
8. 2026-06-10
   statusdays on market $365,000 Active 26 DOM
9. 2026-06-09
   status $365,000 Pending 25 DOM
10. 2026-06-08
    days on market $365,000 Active Under Contract 25 DOM
11. 2026-06-07
    days on market $365,000 Active Under Contract 24 DOM
12. 2026-06-05
    days on market $365,000 Active Under Contract 21 DOM
13. 2026-06-03
    days on market $365,000 Active Under Contract 20 DOM
14. 2026-06-03
    status $365,000 Active Under Contract 19 DOM
15. 2026-06-02
    days on market $365,000 Active 19 DOM
16. 2026-06-01
    days on market $365,000 Active 18 DOM
17. 2026-05-31
    days on market $365,000 Active 17 DOM
18. 2026-05-30
    days on market $365,000 Active 16 DOM
19. 2026-05-19
    listed $365,000 Active 1072-char remark

    Show marketing remark (1072 chars)

    Looking for a turn key rental property that is low maintenance, producing cash flow and in an excellent location in North Cleveland? If so, this triplex is perfect for you! Enjoy 100% occupancy with long term tenants in place from day one. All tenants are currently on a month to month lease, allowing the new homeowner a ton of flexibility to continue renting to the great tenants already in place or house hack and move in into one of units. This property is an ideal opportunity for investors. Its low maintenance, all brick exterior sits on a flat half acre lot and has plenty of parking for each unit. It was updated three years ago, with a new roof, gutters, LVP flooring, fresh paint and other interior updates as well. Each unit has one large bedroom and one full bathroom with an eat in kitchen and living room with great light throughout. One of the end units has the added bonus of an attached one car garage that is extra long and deep. You don't want to miss the opportunity to add this triplex to your rental portfolio. Call and schedule a showing today!

20. 2026-05-13
    price $365,000 1127-char remark

    Show marketing remark (1127 chars)

    Looking for a turn key rental property that is low maintenance, producing cash flow and in an excellent location in North Cleveland? If so, this triplex is perfect for you! Enjoy 100 percent occupancy with long term tenants in place from day one. All tenants are currently on a month to month lease, allowing the new homeowner a ton of flexibility to continue renting to the great tenants already in place or house hack and move into one of the units as a homeowner and rent out the other two. This property is an ideal opportunity for investors. It's low maintenance, all brick exterior sits on a flat half acre lot and has plenty of parking for each unit. It was updated three years ago with a new roof, gutters, LVP flooring, fresh paint and other cosmetic interior updates as well. Each unit has one large bedroom and one full bathroom with an eat in kitchen and living room with great light throughout. One of the end units has the added bonus of an attached one car garage that is extra long and deep. You don't want to miss the opportunity to add this triplex to your rental portfolio. Call and schedule a showing today!

21. 2026-03-23
    listed $365,000 Active

    Show marketing remark (1127 chars)

    Looking for a turn key rental property that is low maintenance, producing cash flow and in an excellent location in North Cleveland? If so, this triplex is perfect for you! Enjoy 100 percent occupancy with long term tenants in place from day one. All tenants are currently on a month to month lease, allowing the new homeowner a ton of flexibility to continue renting to the great tenants already in place or house hack and move into one of the units as a homeowner and rent out the other two. This property is an ideal opportunity for investors. It's low maintenance, all brick exterior sits on a flat half acre lot and has plenty of parking for each unit. It was updated three years ago with a new roof, gutters, LVP flooring, fresh paint and other cosmetic interior updates as well. Each unit has one large bedroom and one full bathroom with an eat in kitchen and living room with great light throughout. One of the end units has the added bonus of an attached one car garage that is extra long and deep. You don't want to miss the opportunity to add this triplex to your rental portfolio. Call and schedule a showing today!

22. 2026-03-23
    listed $375,000 Active 1127-char remark

    Show marketing remark (1127 chars)

    Looking for a turn key rental property that is low maintenance, producing cash flow and in an excellent location in North Cleveland? If so, this triplex is perfect for you! Enjoy 100 percent occupancy with long term tenants in place from day one. All tenants are currently on a month to month lease, allowing the new homeowner a ton of flexibility to continue renting to the great tenants already in place or house hack and move into one of the units as a homeowner and rent out the other two. This property is an ideal opportunity for investors. It's low maintenance, all brick exterior sits on a flat half acre lot and has plenty of parking for each unit. It was updated three years ago with a new roof, gutters, LVP flooring, fresh paint and other cosmetic interior updates as well. Each unit has one large bedroom and one full bathroom with an eat in kitchen and living room with great light throughout. One of the end units has the added bonus of an attached one car garage that is extra long and deep. You don't want to miss the opportunity to add this triplex to your rental portfolio. Call and schedule a showing today!

23. 2023-03-14
    soldstatus $325,000
24. 2023-03-13
    historical
25. 2023-03-13
    soldstatus $325,000 Closed
26. 2023-03-13
    soldstatus $325,000 Closed
27. 2023-03-13
    soldstatus $325,000
28. 2023-02-14
    historical Contingent
29. 2023-02-14
    historical Active Under Contract
30. 2023-02-03
    price $335,000
31. 2023-02-03
    price $335,000
32. 2023-01-20
    price $340,000
33. 2023-01-20
    price $340,000
34. 2023-01-06
    price $350,000
35. 2023-01-06
    price $350,000
36. 2022-12-16
    price $355,000
37. 2022-12-16
    price $355,000
38. 2022-10-28
    status Active
39. 2022-10-28
    status Active
40. 2022-10-24
    historical Contingent
41. 2022-10-24
    historical Active Under Contract
42. 2022-10-18
    listed $360,000 Active
43. 2022-10-18
    listed $335,000
44. 2022-10-18
    listed $360,000 Active
45. 2022-02-04
    soldstatus $263,000
46. 2022-02-02
    soldstatus $263,000 Closed
47. 2022-02-02
    soldstatus $263,000
48. 2022-02-02
    soldstatus $263,000
49. 2022-01-21
    historical Contingent
50. 2021-12-17
    listed $270,000 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: $3,060 · $255/mo
• Projected year-2 tax: $3,060 · $255/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% 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: $43,428
• − Mortgage interest: −$20,446
• − Property taxes: −$3,060
• − Insurance: −$1,825
• − Repairs & maintenance: −$3,474
• − Management: −$3,474
• − Depreciation: −$10,618
• Taxable income: $531
• Est. tax owed @ 24.0%: −$127
• After-tax cash flow: $6,327/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): 36,669
• Household income: $78,261
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 908.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 2% Russian/Polish/Slavic 1%

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: ▼ -206.27%
• Current HPI: 260.8746
• Rent YoY: ▲ 0.15%
• 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

+529.3% since first listed

36 events — show timeline

• 2026-05-19 Listed $365,000 GCAR
• 2026-05-13 Price Changed $365,000 RCAOR
• 2026-03-23 Listed $365,000 REALTRACS as Distributed by MLS Grid
• 2026-03-23 Listed $375,000 RCAOR
• 2023-03-14 Sold (Public Records) $325,000 Public Records
• 2023-03-13 Delisted — GCAR
• 2023-03-13 Sold (MLS) $325,000 RCAOR
• 2023-03-13 Sold (MLS) $325,000 REALTRACS as Distributed by MLS Grid
• 2023-03-13 Sold (MLS) $325,000 GCAR
• 2023-02-14 Contingent — GCAR
• 2023-02-14 Contingent — REALTRACS as Distributed by MLS Grid
• 2023-02-03 Price Changed $335,000 GCAR
• 2023-02-03 Price Changed $335,000 REALTRACS as Distributed by MLS Grid
• 2023-01-20 Price Changed $340,000 GCAR
• 2023-01-20 Price Changed $340,000 REALTRACS as Distributed by MLS Grid
• 2023-01-06 Price Changed $350,000 GCAR
• 2023-01-06 Price Changed $350,000 REALTRACS as Distributed by MLS Grid
• 2022-12-16 Price Changed $355,000 GCAR
• 2022-12-16 Price Changed $355,000 REALTRACS as Distributed by MLS Grid
• 2022-10-28 Relisted — GCAR
• 2022-10-28 Relisted — REALTRACS as Distributed by MLS Grid
• 2022-10-24 Contingent — GCAR
• 2022-10-24 Contingent — REALTRACS as Distributed by MLS Grid
• 2022-10-18 Listed $360,000 GCAR
• 2022-10-18 Listed $335,000 RCAOR
• 2022-10-18 Listed $360,000 REALTRACS as Distributed by MLS Grid
• 2022-02-04 Sold (Public Records) $263,000 Public Records
• 2022-02-02 Sold (MLS) $263,000 REALTRACS as Distributed by MLS Grid
• 2022-02-02 Sold (MLS) $263,000 RCAOR
• 2022-02-02 Sold (MLS) $263,000 GCAR
• 2022-01-21 Contingent — GCAR
• 2021-12-17 Listed $270,000 GCAR
• 2021-12-14 Listed $270,000 RCAOR
• 2000-05-01 Sold (Public Records) $124,647 Public Records
• 1995-03-21 Sold (Public Records) $150,000 Public Records
• 1992-01-09 Sold (Public Records) $58,000 Public Records

Property tax history

+9.5%/yr

Latest (2025): $3,060 · +13.1% YoY. Source: county tax records.