646 Thomas St · Lewisburg, TN 37091

$59,000

3 bd · 1.0 ba · 1,794 sqft · SingleFamily public records · 9 Days on market

Built 1948 7,405 sqft lot

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.0/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Home in need of extensive repairs. Great lot in the middle of Lewisburg. Home selling AS IS.

Key facts

• 7,405 sq ft lot
• Built 1948
• Listed 9 days

Property features AI

Finance

• Financial info: Annual tax amount listed separately (not included per instructions)

Exterior

• Parking: No covered parking listed; No total parking spaces listed
• Utilities: Public water; Public sewer; Water available
• Home design: Single family residence; One story
• Construction: Wood siding exterior; Existing structure (year built details listed as existing)
• Exterior features: Lot approximately 0.17 acres; Lot dimensions about 52.4 x 147 (irregular)

Interior

• Kitchen: No kitchen appliances listed
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating (other); Wall/window air conditioning units
• Interior features: Crawl space basement; No built-in appliances listed
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $59k).
• Cap rate 47.0% vs local median 3.6% in Lewisburg — 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 59/100 on livability (#284 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Marshall County (rural): math 31% / reading 29% proficiency, ranked #58 of 139 in TN (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Marshall Elementary (math 27% / reading 27%, grade F, #496 of 952 statewide, top 55%, 388 students, 0% FRL); Marshall Co High School (math 17% / reading 35%, grade F, #117 of 332 statewide, top 37%, 815 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 274 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 400 units permitted in Marshall County in 2024 (75 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Marshall County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $41k (41%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $59k implies a 228% 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 $59,000

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 5.08% ✓
• Cap rate: 47.03%
• Cash-on-cash: 145.47%
• DSCR: 7.47
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $227,838
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
662 Verona Ave	0.59mi	3/1.0	1,800 (+0%)	16mo	$90,000	$50	58
324 Water St	0.65mi	3/1.5	1,800 (+0%)	11mo	$136,500	$76	58
731 Cedar St	0.68mi	3/1.5	1,676 (-7%)	0mo	$195,000	$116	55
1221 W Commerce St	0.71mi	3/2.0	1,905 (+6%)	5mo	$242,000	$127	48
204 E Berkley Cir	0.67mi	4/3.0 (+1)	1,711 (-5%)	1mo	$326,000	$191	47
1305 Glenn Ave	0.57mi	3/2.5	1,766 (-2%)	23mo	$335,900	$190	46
1226 W Commerce St	0.68mi	3/2.0	1,760 (-2%)	22mo	$285,000	$162	43

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.14×
• Total profit: $118,010
• Equity at exit: $8,797

10-year hold

• IRR: —
• Equity multiple: 17.17×
• Total profit: $267,078
• Equity at exit: $5,101

Cash invested: $16,520 (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 37091

• Home prices YoY: -14.6%
• Active inventory: 274
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $2,995 high
• Mortgage (P&I): −$309
• Tax from tax record: −$29 /mo · $351/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$629
• Net cashflow: $2,003

Break-even live

Break-even rent $460

Max offer price $59,000

Occupancy floor 28%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
335 E Hill Ave Lewisburg, TN	3.0	2.0	1800	$5,000	$2.78	44d	1	0.89mi
1335 Churchill Ln Lewisburg, TN	3.0	2.5	1418	$1,900	$1.34	4d	1	1.40mi
1335 Churchill Ln Lewisburg, TN	3.0	2.5	1418	$2,000	$1.41	44d	1	1.40mi
1406 Saddle Trace Dr Lewisburg, TN	4.0	2.5	1600	$2,200	$1.38	44d	1	1.46mi
1405 Prescott Ln Lewisburg, TN	3.0	2.0	1279	$1,799	$1.41	24d	1	1.47mi

Listing history 9 events

1. 2026-06-07
   status $59,000 Pending 9 DOM
2. 2026-06-03
   days on market $59,000 Active 9 DOM
3. 2026-06-02
   pricedays on market $59,000 Active 8 DOM
4. 2026-06-01
   days on market $66,000 Active 7 DOM
5. 2026-05-31
   days on market $66,000 Active 6 DOM
6. 2026-05-26
   status Active
7. 2026-03-28
   status Pending
8. 2026-03-27
   listed $100,000 Active
9. 2006-06-05
   soldstatus $18,000

ⓘ 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: $351 · $29/mo
• Projected year-2 tax: $419 · $35/mo
• Expected delta: +$68/yr (+$6/mo · 19.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% 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: $35,938
• − Mortgage interest: −$3,305
• − Property taxes: −$351
• − Insurance: −$295
• − Repairs & maintenance: −$2,875
• − Management: −$2,875
• − Depreciation: −$1,716
• Taxable income: $24,521
• Est. tax owed @ 24.0%: −$5,885
• After-tax cash flow: $18,147/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: Marshall County
• NCES district ID: 4702670
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 29% ▼ -5.00%
• Median HH income: $43,058
• Composite: 25.56/100
• National rank: #7426
• State rank: #58 of 139 in TN

Livability — Lewisburg

• Score: 59/100
• State rank: #284
• US rank: #20031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lewisburg, TN
• Population (ZIP): 23,991

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 33,222 people
• By 2030: 33,867 · +1.9%
• By 2040: 34,743 · +4.6%
• By 2050: 34,954 · +5.2%
• By 2075: 34,652 · +4.3%
• By 2100: 31,862 · -4.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 8% Black 5% Two or more races 4%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Serbian 4% Slovak 2% Romanian 1%
• Foreign-born: 3% · Canada, Jamaica, Vietnam
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Marshall

• 2024 margin: Solid R (+56.6) · D 21.2% · R 77.8%
• 2008→2024 swing: -17.0pp toward R · 2008: -39.6pp · 2024: -56.6pp
• All cycles: 2024: R+56.6 2020: R+50.0 2016: R+46.6 2012: R+28.9 2008: R+39.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.86%
• Current HPI: 350.5306
• 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

+455.6% since first listed

4 events — show timeline

• 2026-05-26 Relisted — REALTRACS as Distributed by MLS Grid
• 2026-03-28 Pending — REALTRACS as Distributed by MLS Grid
• 2026-03-27 Listed $100,000 REALTRACS as Distributed by MLS Grid
• 2006-06-05 Sold (Public Records) $18,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $351 · +7.7% YoY. Source: county tax records.