404 Mcmurtrey St · St. Joseph, TN 38481

$110,000

3 bd · 1.0 ba · 1,206 sqft · SingleFamily public records · 64 Days on market

Built 1953 0.30 ac lot

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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 +19.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• Appreciation +5.9/10.0
• 1% rule +4.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks

This home is located in the heart of this small town in St Joseph, TN. Sold as-is but PRICED TO SELL!! It's a move in ready situation, perfect for a starter or downsize. It's comfortable, easy to maintain and on public utilities.

Key facts

• 0.3 acre lot
• Parking
• Built 1953

Tags

• WHIRLPOOL KITCHEN APPLIANCES

Property features AI

Finance

• Other: Lot approximately 0.3 acre (150 x 86); Porch is covered

Exterior

• Parking: Attached parking; One covered parking space; One-car carport
• Security: Smoke detector(s)
• Utilities: Public water; Septic tank sewer; Electricity available; Water available
• Home design: Single-family residence; One story
• Construction: Metal roof; Block foundation; Other construction materials
• Exterior features: Covered porch; Fenced backyard; Storage structure on property

Interior

• Kitchen: Electric oven and electric range; Dishwasher; Refrigerator
• Bedrooms: Three bedrooms, all on the main level
• Flooring: Concrete flooring; Laminate flooring; Tile flooring; Vinyl flooring
• Bathrooms: One full bathroom; Master bathroom with double vanity
• Heating & cooling: Electric heating; Wall/window air conditioning units
• Interior features: Electric oven and electric range; Dishwasher; Refrigerator; Concrete, laminate, tile and vinyl flooring; Double vanity in master bathroom; No basement
• Laundry & utility: Utilities: electricity and water available

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $124 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $101k (8.2% below list).
• Recommended offer: $101k (8.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Lawrence County (rural): math 29% / reading 29% proficiency, ranked #67 of 139 in TN (top 48%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: South Lawrence Elementary (math 34% / reading 30%, grade F, #369 of 952 statewide, top 42%, 540 students, 0% FRL); E O Coffman Middle School (math 23% / reading 26%, grade F, #154 of 333 statewide, top 48%, 582 students, 0% FRL); Loretto High School (math 8% / reading 32%, grade F, #183 of 332 statewide, top 59%, 493 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: 3 active listings in the ZIP; 27 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($761 loan paydown + $2k appreciation (1.9% local appreciation)).
• Lawrence County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $110k implies a 201% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• 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 $101,005 (8.2% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 0.92% ✗
• Cap rate: 7.65%
• Cash-on-cash: 4.84%
• DSCR: 1.22
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.9%
• Equity multiple: 1.48×
• Total profit: $14,645
• Equity at exit: $42,571

10-year hold

• IRR: 12.1%
• Equity multiple: 2.61×
• Total profit: $49,462
• Equity at exit: $60,682

Cash invested: $30,800 (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 38481

• Home prices YoY: 1.9%
• Active inventory: 3
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,010 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$51 /mo · $613/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $124

Break-even live

Break-even rent $853

Max offer price $110,000

Occupancy floor 83%

Sensitivity live

Price	-10% $186	-5% $155	+0% $124	+5% $93	+10% $62
Rent	-10% $44	-5% $84	+0% $124	+5% $164	+10% $204
Rate	-1.0pp $180	-0.5pp $152	base $124	+0.5pp $96	+1.0pp $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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-04
   status $110,000 Pending 64 DOM
2. 2026-06-03
   days on market $110,000 Active 64 DOM
3. 2026-06-02
   days on market $110,000 Active 63 DOM
4. 2026-06-01
   days on market $110,000 Active 62 DOM
5. 2026-05-31
   days on market $110,000 Active 61 DOM
6. 2026-04-30
   price $110,000
7. 2026-04-10
   status Active
8. 2026-04-03
   historical Active Under Contract
9. 2026-03-31
   listed $139,900 Active
10. 2004-08-25
    soldstatus $36,500
11. 1999-08-25
    soldstatus $27,500
12. 1998-08-06
    soldstatus $22,000

ⓘ 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: $613 · $51/mo
• Projected year-2 tax: $781 · $65/mo
• Expected delta: +$168/yr (+$14/mo · 27.4%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,121
• − Mortgage interest: −$6,162
• − Property taxes: −$613
• − Insurance: −$550
• − Repairs & maintenance: −$970
• − Management: −$970
• − Depreciation: −$3,200
• Taxable loss: −$343
• Est. tax savings @ 24.0%: +$82
• After-tax cash flow: $1,572/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: Lawrence County
• NCES district ID: 4702340
• Math proficiency: 29% ▼ -11.00%
• Reading proficiency: 29% ▼ -8.00%
• Median HH income: $37,613
• Composite: 24.2/100
• National rank: #7729
• State rank: #67 of 139 in TN

Livability — St. Joseph

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

Census & demographics

• Census place: St. Joseph, TN
• Population (ZIP): 876

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 42,724 people
• By 2030: 42,627 · -0.2%
• By 2040: 42,144 · -1.4%
• By 2050: 40,800 · -4.5%
• By 2075: 36,643 · -14.2%
• By 2100: 29,193 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Black 3% Two or more races 2%
• Common ancestry: Lithuanian 2% Iranian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+69.1) · D 15.1% · R 84.1%
• 2008→2024 swing: -35.3pp toward R · 2008: -33.7pp · 2024: -69.1pp
• All cycles: 2024: R+69.1 2020: R+64.8 2016: R+61.3 2012: R+42.9 2008: R+33.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.86%
• Current HPI: 100.4527
• 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

+400.0% since first listed

7 events — show timeline

• 2026-04-30 Price Changed $110,000 REALTRACS as Distributed by MLS Grid
• 2026-04-10 Relisted — REALTRACS as Distributed by MLS Grid
• 2026-04-03 Contingent — REALTRACS as Distributed by MLS Grid
• 2026-03-31 Listed $139,900 REALTRACS as Distributed by MLS Grid
• 2004-08-25 Sold (Public Records) $36,500 Public Records
• 1999-08-25 Sold (Public Records) $27,500 Public Records
• 1998-08-06 Sold (Public Records) $22,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $613 · +3.9% YoY. Source: county tax records.