1202 Bowman Loop

Bowman, TN 38571

$351,900B

6 bd · 3.0 ba · 3,024 sqft · Built 2005 · MultiFamily · Active · 101 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,200/mo
• Mortgage (P&I): −$1,845
• Tax + insurance: −$244
• HOA: −$0
• Vac / Maint / Mgmt: −$882
• Net cashflow: $1,229/mo
• Annual: $14,747/yr
• Cap rate: 10.48%
• Cash-on-cash: 14.97%
• DSCR: 1.67
• 1% rule: 1.19%
• Cash to close: $98,532

Investor read

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $352k.
• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $410/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $352k).
• It's been on market 101 days — a 9% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $320k (9.0% below list) — sets the bar for market timing.
• In year one you build about $38k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• Location reads 67/100 on livability (#103 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime D-.
• Cumberland County (rural): math 30% / reading 31% proficiency, ranked #59 of 139 in TN (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 216 active listings in the ZIP; 114 units permitted in Cumberland County in 2024 (0 in 5+ unit buildings).
• Cumberland County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 2y 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $99k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• 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.
• Schools are F-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.