137 Chaney Blvd

La Vergne, TN 37086

$199,900C-

3 bd · 2.0 ba · 1,820 sqft · Built 1998 · Other · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,178/mo
• Mortgage (P&I): −$1,048
• Tax + insurance: −$333
• HOA: −$0
• Vac / Maint / Mgmt: −$457
• Net cashflow: $339/mo
• Annual: $4,069/yr
• Cap rate: 8.33%
• Cash-on-cash: 7.27%
• DSCR: 1.32
• 1% rule: 1.09%
• Cash to close: $55,972

Investor read

• This is a 3-bed/2.0-bath other listed at $200k.
• At list price, monthly cash flow is $339 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#171 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: crime D-, amenities F, commute F.
• Rutherford County (suburban): math 34% / reading 37% proficiency, ranked #22 of 139 in TN (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cedar Grove Elementary (math 36% / reading 27%, grade F, #398 of 952 statewide, top 42%, 813 students, 0% FRL); Lavergne High School (math 8% / reading 30%, grade F, #202 of 332 statewide, top 62%, 2,100 students, 0% FRL) — zoned schools average 0% FRL vs 36% district-wide (36 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-1.0%/yr); 269 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,421 units permitted in Rutherford County in 2024 (400 in 5+ unit buildings).
• Rutherford County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $105k; list at $200k implies a 91% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.3% vs local median 3.6% in La Vergne — 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.
• This rent runs 33% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• Crime grade is D 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?
• 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.
• 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.
• 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.