81 Carolane Dr · Jackson, TN 38305

$224,900

None bd · 4.0 ba · 2,204 sqft · MultiFamily public records · 107 Days on market

Built 1974 8,016 sqft lot Est $179k · 26% over ↓ 55% since listing

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Livability +3.1/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Prime CENTRAL North Jackson Investment Opportunity! This well-maintained duplex on Carolane Drive features a 2 bedroom and 1 full bathroom, kitchen with range and refrigerator with washing machine and dryer connections on each side. Completely renovated within the past 5 years to include new roof, new HVAC units, new windows, etc. Perfect for a savvy investor looking for immediate cash flow. Situated in a quiet cul-de-sac with easy access to the US-45 Bypass, Hollywood Dr, and local shopping. Low-maintenance living in a high-demand rental area.

Key facts

• Quiet cul-de-sac
• New hvac units
• Completely renovated

Tags

• WELL MAINTAINED DUPLEX
• COMPLETELY RENOVATED
• NEW ROOF
• NEW HVAC UNITS
• NEW WINDOWS
• QUIET CUL-DE-SAC

Property features AI

Exterior

• Parking: 4 parking spaces
• Utilities: Public water; Public sewer; Natural gas available and connected
• Home design: Duplex residential income property; One level / 1 story
• Exterior features: City street frontage; Publicly maintained road

Interior

• Kitchen: Electric range; Refrigerator
• Bathrooms: 1 bathroom
• Heating & cooling: Central heating; Central air
• Interior features: Electric range; Refrigerator; Central heating; Central air
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2 × 2.0-bed/1.0-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $859 ($10k/yr) — positive. Per door: $430/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $205k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 3.5% in Jackson — 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 62/100 on livability (#216 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Madison County (urban): math 10% / reading 17% proficiency, ranked #131 of 139 in TN (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Arlington Elementary School (math 5% / reading 8%, grade F, #880 of 952 statewide, top 93%, 593 students, 0% FRL); West-Bemis Middle School (math 9% / reading 13%, grade F, #252 of 333 statewide, top 76%, 373 students, 0% FRL) — zoned schools average 0% FRL vs 68% district-wide (68 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.6%/yr); 512 active listings in the ZIP; 247 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• At $2,769/mo this rent would consume 48% of the median local household income ($69k/yr) (locally 2228% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Madison County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $63k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($205k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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.

Recommended offer $204,659 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% 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. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.23% ✓
• Cap rate: 10.88%
• Cash-on-cash: 16.37%
• DSCR: 1.73
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $178,524
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1608 Hollywood Dr	0.17mi	—/—	2,291 (+4%)	11mo	$186,666	$81	76
57 Carolane Dr	0.06mi	6/4.0	2,496 (+13%)	1mo	$225,200	$90	74
22 Camelot Cv	0.07mi	—/—	2,122 (-4%)	20mo	$170,300	$80	74
51 Carolane Dr	0.08mi	6/4.0	2,496 (+13%)	2mo	$225,200	$90	73
54 Cinnamon Dr Unit L & R	0.62mi	—/—	2,212 (+0%)	4mo	$150,000	$68	67
62 Cinnamon Dr	0.66mi	—/—	2,194 (-0%)	4mo	$150,000	$68	65
30 Cinnamon Dr	0.57mi	—/—	2,202 (-0%)	17mo	$190,000	$86	59
63 Cinnamon Dr Unit L & R	0.66mi	—/—	2,112 (-4%)	4mo	$150,000	$71	59
146 Skyhaven Dr	0.65mi	—/—	2,130 (-3%)	22mo	$155,900	$73	45
109 Skyhaven Dr	0.59mi	2/2.0	1,935 (-12%)	10mo	$200,000	$103	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.58% rent growth · sell at horizon

5-year hold

• IRR: 5.9%
• Equity multiple: 1.23×
• Total profit: $14,278
• Equity at exit: $33,533

10-year hold

• IRR: 14.1%
• Equity multiple: 2.06×
• Total profit: $66,942
• Equity at exit: $19,445

Cash invested: $62,972 (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 38305

• Rents YoY: 1.6%
• Active inventory: 512
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $2,769 medium
• Mortgage (P&I): −$1,179
• Tax from tax record: −$55 /mo · $663/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$581
• Net cashflow: $859

Break-even live

Break-even rent $1,681

Max offer price $224,900

Occupancy floor 64%

Sensitivity live

Price	-10% $986	-5% $923	+0% $859	+5% $795	+10% $732
Rent	-10% $640	-5% $750	+0% $859	+5% $969	+10% $1,078
Rate	-1.0pp $972	-0.5pp $916	base $859	+0.5pp $801	+1.0pp $742

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

Units	Beds	Baths	Est. rent
▸ 2× units	2.0	1	$2,768
Total (2 units)			$2,769

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $224,900 Active 107 DOM
2. 2026-06-19
   days on market $224,900 Active 105 DOM
3. 2026-06-18
   days on market $224,900 Active 104 DOM
4. 2026-06-17
   days on market $224,900 Active 103 DOM
5. 2026-06-16
   days on market $224,900 Active 102 DOM
6. 2026-06-15
   days on market $224,900 Active 101 DOM
7. 2026-06-14
   days on market $224,900 Active 99 DOM
8. 2026-06-13
   days on market $224,900 Active 98 DOM
9. 2026-06-10
   days on market $224,900 Active 96 DOM
10. 2026-06-09
    days on market $224,900 Active 95 DOM
11. 2026-06-08
    days on market $224,900 Active 94 DOM
12. 2026-06-07
    days on market $224,900 Active 93 DOM
13. 2026-06-05
    days on market $224,900 Active 90 DOM
14. 2026-06-03
    days on market $224,900 Active 89 DOM
15. 2026-06-02
    days on market $224,900 Active 88 DOM
16. 2026-06-01
    days on market $224,900 Active 87 DOM
17. 2026-05-31
    days on market $224,900 Active 86 DOM
18. 2026-05-30
    days on market $224,900 Active 85 DOM
19. 2026-03-06
    listed $224,900 Active
20. 2020-10-16
    soldstatus $575,000
21. 2018-10-01
    soldstatus $501,100

ⓘ 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: $663 · $55/mo
• Projected year-2 tax: $1,597 · $133/mo
• Expected delta: +$934/yr (+$78/mo · 140.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,228
• − Mortgage interest: −$12,598
• − Property taxes: −$663
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,658
• − Management: −$2,658
• − Depreciation: −$6,543
• Taxable income: $6,984
• Est. tax owed @ 24.0%: −$1,676
• After-tax cash flow: $8,634/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: Madison County
• NCES district ID: 4702580
• Math proficiency: 10% ▼ -11.00%
• Reading proficiency: 17% ▼ -4.00%
• Median HH income: $42,015
• Composite: 11.74/100
• National rank: #9687
• State rank: #131 of 139 in TN

Livability — Jackson

• Score: 62/100
• State rank: #216
• US rank: #16488

Category grades

Amenities F Commute C Cost of living A+ Crime F Employment F Housing A+ Health & safety C- User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jackson, TN
• County: Madison County · 87,024 people
• City population: 87,024
• Metro: Jackson, TN
• Population (ZIP): 53,488
• Household income: $68,977
• Rent vs Own: 36.7% rent · 63.3% own
• Severe rent burden: 2228.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 95,952 people
• By 2030: 94,264 · -1.8%
• By 2040: 89,607 · -6.6%
• By 2050: 84,133 · -12.3%
• By 2075: 72,215 · -24.7%
• By 2100: 62,062 · -35.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 57% Black 32% Hispanic / Latino 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 2% Italian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Madison

• 2024 margin: R (+18.2) · D 40.3% · R 58.5% · Other 1.2%
• 2008→2024 swing: +3.4pp toward D · 2008: -21.6pp · 2024: -18.2pp
• All cycles: 2024: R+18.2 2020: R+12.9 2016: R+15.6 2012: R+8.9 2008: R+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -118.63%
• Current HPI: 195.4511
• Rent YoY: ▲ 1.58%
• Metro: Jackson, 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

-55.1% since first listed

3 events — show timeline

• 2026-03-06 Listed $224,900 CWTAR
• 2020-10-16 Sold (Public Records) $575,000 Public Records
• 2018-10-01 Sold (Public Records) $501,100 Public Records

Property tax history

-2.3%/yr

Latest (2025): $663 · +0.2% YoY. Source: county tax records.