Darwin Plan

Apison, TN 37302

$343,990F

3 bd · 2.5 ba · 1,749 sqft · Built — · SingleFamily · Active · 159 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,467/mo
• Mortgage (P&I): −$1,993
• Tax + insurance: −$633
• HOA: −$0
• Vac / Maint / Mgmt: −$518
• Net cashflow: $-677/mo
• Annual: $-8,130/yr
• Cap rate: 4.15%
• Cash-on-cash: -7.64%
• DSCR: 0.66
• 1% rule: 0.65%
• Cash to close: $106,420

Investor read

• This is a 3-bed/2.5-bath single-family listed at $344k. Condition is rated good.
• At list price, monthly cash flow is $-677 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $282k (18.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $247k (28.3% below list).
• It's been on market 159 days — a 12% lower offer ($303k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $247k (28.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#106 in TN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Hamilton County (urban): math 31% / reading 31% proficiency, ranked #42 of 139 in TN (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Apison Elementary School (math 65% / reading 61%, grade B, #47 of 952 statewide, top 5%, 652 students, 0% FRL); Sequoyah High School (math 5% / reading 15%, grade F, #273 of 332 statewide, top 84%, 226 students, 0% FRL) — zoned schools average 0% FRL vs 52% district-wide (52 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 220 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,133 units permitted in Hamilton County in 2024 (405 in 5+ unit buildings).
• Hamilton County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 159 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
• 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.