113 N West St · Rutherford, TN 38369

$149,900

None bd · 27.0 ba · 2,100 sqft · MultiFamily · 116 Days on market

Built 1948 1.01 ac lot

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Why this score? — see what drove the B 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +4.7/10.0
• Schools +3.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Investment opportunity. Duplex currently rented. Additional attached storage/workshop that could be converted to additional apartment. Large lot. owner willing to divide and sell separately.

Key facts

• New 10 x 10 patios
• New backdoors
• 1.1 acre lot

Tags

• 1.1 ACRE LOT
• FRESH EXTERIOR PAINT
• NEW FRONT DOOR AWNINGS
• NEW GARVEL PARKING LOT
• NEW 10 X 10 PATIOS
• NEW BACKDOORS

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.5-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $870 ($10k/yr) — positive. Per door: $290/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#235 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: health & safety C-, schools D-, amenities F.
• Gibson County Sp District (rural): math 47% / reading 39% proficiency, ranked #11 of 139 in TN (top 8%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 22 active listings in the ZIP; 155 units permitted in Gibson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $251 of equity ($1k loan paydown + $-785 appreciation (-0.5% local appreciation)).
• Gibson County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-0.5% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $39k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $31k; list at $150k implies a 384% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• 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 $136,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 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 1948 — 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 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?
8. 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.
9. 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.
10. 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: 1.61% ✓
• Cap rate: 13.26%
• Cash-on-cash: 24.88%
• DSCR: 2.11
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.52% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.0%
• Equity multiple: 2.13×
• Total profit: $47,434
• Equity at exit: $39,644

10-year hold

• IRR: 28.6%
• Equity multiple: 4.06×
• Total profit: $128,470
• Equity at exit: $44,656

Cash invested: $41,972 (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 38369

• Home prices YoY: -0.2%
• Active inventory: 22
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $2,413 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $870

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 59%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.5	$2,412
Total (3 units)			$2,413

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-04-12
   status Pending
2. 2026-03-23
   price $149,900
3. 2026-02-26
   price $158,500
4. 2026-02-09
   price $159,900
5. 2026-01-25
   price $169,000
6. 2026-01-12
   price $179,000
7. 2025-12-17
   listed $189,000 Active
8. 2019-11-25
   soldstatus $31,000 190-char remark

   Show marketing remark (190 chars)

   Investment opportunity. Duplex currently rented. Additional attached storage/workshop that could be converted to additional apartment. Large lot. owner willing to divide and sell separately.

9. 2019-08-29
   listed $39,900 190-char remark

   Show marketing remark (190 chars)

   Investment opportunity. Duplex currently rented. Additional attached storage/workshop that could be converted to additional apartment. Large lot. owner willing to divide and sell separately.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,956
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$2,316
• − Management: −$2,316
• − Depreciation: −$4,361
• Taxable income: $8,568
• Est. tax owed @ 24.0%: −$2,056
• After-tax cash flow: $8,388/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: Gibson County Sp District
• NCES district ID: 4701400
• Math proficiency: 47% ▼ -13.00%
• Reading proficiency: 39% ▼ -5.00%
• Median HH income: $47,868
• Composite: 36.82/100
• National rank: #4565
• State rank: #11 of 139 in TN

Livability — Rutherford

• Score: 62/100
• State rank: #235
• US rank: #17256

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rutherford, TN
• Population (ZIP): 1,636

Population outlook (Gibson County) Hauer SSP2

• Today (2025): 48,793 people
• By 2030: 48,221 · -1.2%
• By 2040: 46,793 · -4.1%
• By 2050: 44,909 · -8.0%
• By 2075: 40,191 · -17.6%
• By 2100: 33,574 · -31.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 10% Black 7% Native American 1% Hispanic / Latino 1%
• Common ancestry: Lithuanian 2% Slovak 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Gibson

• 2024 margin: Solid R (+52.0) · D 23.6% · R 75.5%
• 2008→2024 swing: -23.2pp toward R · 2008: -28.8pp · 2024: -52.0pp
• All cycles: 2024: R+52.0 2020: R+47.0 2016: R+43.8 2012: R+32.1 2008: R+28.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.52%
• Current HPI: 230.3868
• 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

+275.7% since first listed

9 events — show timeline

• 2026-04-12 Pending — CWTAR
• 2026-03-23 Price Changed $149,900 CWTAR
• 2026-02-26 Price Changed $158,500 CWTAR
• 2026-02-09 Price Changed $159,900 CWTAR
• 2026-01-25 Price Changed $169,000 CWTAR
• 2026-01-12 Price Changed $179,000 CWTAR
• 2025-12-17 Listed $189,000 CWTAR
• 2019-11-25 Sold (MLS) $31,000 CWTAR
• 2019-08-29 Listed $39,900 CWTAR