824 Edna Garland Rd

Maryville, TN 37801

$222,500C-

3 bd · 2.0 ba · 1,596 sqft · Built 1995 · Manufactured · Active · 99 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,020/mo
• Mortgage (P&I): −$1,167
• Tax + insurance: −$266
• HOA: −$0
• Vac / Maint / Mgmt: −$424
• Net cashflow: $163/mo
• Annual: $1,961/yr
• Cap rate: 7.85%
• Cash-on-cash: 5.56%
• DSCR: 1.25
• 1% rule: 0.91%
• Cash to close: $62,300

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $222k.
• At list price, monthly cash flow is $163 ($2k/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 $202k (9.2% below list).
• It's been on market 99 days — a 9% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $202k (9.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#38 in TN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D, commute F, health & safety F.
• Blount County (rural): math 29% / reading 31% proficiency, ranked #52 of 139 in TN (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mary Blount Elementary (math 31% / reading 28%, grade F, #423 of 952 statewide, top 48%, 594 students, 0% FRL); Union Grove Middle School (math 24% / reading 27%, grade F, #147 of 333 statewide, top 45%, 611 students, 0% FRL); William Blount High School (math 18% / reading 46%, grade F, #56 of 332 statewide, top 20%, 1,545 students, 0% FRL) — zoned schools average 0% FRL vs 44% district-wide (44 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $125/mo.
• Market conditions: Rents rising fast (+4.3%/yr); 176 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 937 units permitted in Blount County in 2024 (57 in 5+ unit buildings).
• Blount County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 5 sale attempts since 21y ago; this cycle's ask has dropped $12k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.8% vs local median 3.7% in Maryville — 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 ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.