2459 Old State Route 34 · Telford, TN 37681

$119,999

5 bd · 1.0 ba · 2,448 sqft · SingleFamily public records · 82 Days on market

Built 1928 0.45 ac lot Est $186k · 36% under ↓ 11% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.2/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.4/5.0

Listing remarks

Step into timeless charm with this nearly 100-year-old two-story home, full of character and ready for its next chapter. Featuring 5 bedrooms, this property offers plenty of room to grow, gather, and create lasting memories. Agent has an ownership interest in Owner/Entity. All information deemed reliable but not guaranteed. Buyer/Buyers Agent to verify. Call for showing info.

Key facts

• 0.45 acre lot
• Built 1928
• Listed 81 days

Property features AI

Finance

• Other: Zoned R1; Subdivision: Pierson Property

Exterior

• Utilities: Public water
• Home design: Single-family residence; Two stories; House
• Construction: Wood siding and plaster construction; Home warranty included
• Exterior features: Shingle roof; Rolling slope lot

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating; No cooling
• Interior features: 7 total rooms; Fixer condition

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $508 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 2.7% in Telford — 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 47/100 on livability (#422 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Washington County (suburban): math 26% / reading 34% proficiency, ranked #54 of 139 in TN (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West View School (math 11% / reading 23%, grade F, #709 of 952 statewide, top 77%, 311 students, 0% FRL); David Crockett High School (math 25% / reading 39%, grade F, #56 of 332 statewide, top 20%, 1,181 students, 0% FRL) — zoned schools average 0% FRL vs 41% district-wide (41 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 56 active listings in the ZIP; 1,155 units permitted in Washington County in 2024 (437 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($829 loan paydown + $12k appreciation (10.0% local appreciation)).
• Washington County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,799 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 1.32% ✓
• Cap rate: 11.37%
• Cash-on-cash: 18.13%
• DSCR: 1.81
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $186,048
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2434 Old State Route 34	0.11mi	4/3.0 (-1)	2,640 (+8%)	8mo	$200,000	$76	62

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.7%
• Equity multiple: 3.91×
• Total profit: $97,662
• Equity at exit: $108,105

10-year hold

• IRR: 32.5%
• Equity multiple: 8.80×
• Total profit: $262,120
• Equity at exit: $233,132

Cash invested: $33,600 (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 37681

• Home prices YoY: 4.7%
• Active inventory: 56
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,589 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$68 /mo · $821/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $508

Break-even live

Break-even rent $946

Max offer price $119,999

Occupancy floor 63%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $119,999 Active 82 DOM
2. 2026-06-18
   days on market $119,999 Active 81 DOM
3. 2026-06-17
   days on market $119,999 Active 80 DOM
4. 2026-06-16
   days on market $119,999 Active 79 DOM
5. 2026-06-15
   days on market $119,999 Active 78 DOM
6. 2026-06-14
   days on market $119,999 Active 76 DOM
7. 2026-06-13
   days on market $119,999 Active 75 DOM
8. 2026-06-10
   days on market $119,999 Active 73 DOM
9. 2026-06-09
   days on market $119,999 Active 72 DOM
10. 2026-06-08
    days on market $119,999 Active 71 DOM
11. 2026-06-07
    days on market $119,999 Active 70 DOM
12. 2026-06-05
    days on market $119,999 Active 67 DOM
13. 2026-06-02
    days on market $119,999 Active 65 DOM
14. 2026-06-01
    days on market $119,999 Active 64 DOM
15. 2026-05-31
    days on market $119,999 Active 63 DOM
16. 2026-05-30
    days on market $119,999 Active 62 DOM
17. 2026-05-18
    status Active
18. 2026-05-08
    status Pending
19. 2026-05-01
    price $125,000
20. 2026-04-21
    price $130,000
21. 2026-03-19
    listed $140,000 Active

ⓘ 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: $821 · $68/mo
• Projected year-2 tax: $852 · $71/mo
• Expected delta: +$31/yr (+$3/mo · 3.8%)

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,069
• − Mortgage interest: −$6,722
• − Property taxes: −$821
• − Insurance: −$600
• − Repairs & maintenance: −$1,526
• − Management: −$1,526
• − Depreciation: −$3,491
• Taxable income: $4,384
• Est. tax owed @ 24.0%: −$1,052
• After-tax cash flow: $5,040/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: Washington County
• NCES district ID: 4704380
• Math proficiency: 26% ▼ -21.00%
• Reading proficiency: 34% ▼ -11.00%
• Median HH income: $46,542
• Composite: 25.85/100
• National rank: #7350
• State rank: #54 of 139 in TN

Livability — Telford

• Score: 47/100
• State rank: #422
• US rank: #26284

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 4,720
• Population (ZIP): 6,031

Population outlook (Washington County) Hauer SSP2

• Today (2025): 132,816 people
• By 2030: 135,823 · +2.3%
• By 2040: 140,897 · +6.1%
• By 2050: 145,073 · +9.2%
• By 2075: 156,386 · +17.7%
• By 2100: 159,893 · +20.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+39.5) · D 29.6% · R 69.1% · Other 1.3%
• 2008→2024 swing: -6.0pp toward R · 2008: -33.5pp · 2024: -39.5pp
• All cycles: 2024: R+39.5 2020: R+36.2 2016: R+42.9 2012: R+38.5 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 13.43%
• Current HPI: 296.7409
• 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

-10.7% since first listed

5 events — show timeline

• 2026-05-18 Relisted — TVRMLS
• 2026-05-08 Pending — TVRMLS
• 2026-05-01 Price Changed $125,000 TVRMLS
• 2026-04-21 Price Changed $130,000 TVRMLS
• 2026-03-19 Listed $140,000 TVRMLS

Property tax history

+5.5%/yr

Latest (2025): $821 · +0.0% YoY. Source: county tax records.