3251 Main St · Pikeville, TN 37367

$580,000

6 bd · 3.0 ba · 1,728 sqft · MultiFamily public records · 57 Days on market

Built 1952 0.44 ac lot $336/sqft · 228% above area

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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 +24.0/30.0
• Appreciation +10.0/10.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Mixed-Use Investment Opportunity in the Heart of Pikeville Located at 3251 Main Street in Pikeville, this versatile multi-use property offers a rare combination of retail presence, residential income, and small-town charm. Situated just steps from the Bledsoe County Courthouse and within walking distance to the town's popular weekend farmers market, the location delivers both visibility and community-driven foot traffic. The property features a leased street-facing retail storefront plus 3 fully leased 1BD apartments, providing immediate, consistent income. An extremely nice and large 32x44 garage with office and full bathroom adds additional revenue potential and flexibility for storage, workspace, or future conversion with 1,408 sq ft offers loads of potential. In addition, a spacious move in ready 3BD/2BA owner's residence with private swimming pool creates the perfect opportunity for owner-occupancy, executive rental, or short-term rental income potential. Positioned in a charming hometown setting known for its local vendors, walkability, and historic character--and located within a short drive to Fall Creek Falls & Cumberland State Parks--this property benefits from both local engagement and regional tourism appeal, enhancing long-term rental and short-term income opportunities. Opportunities like this are increasingly limited--combining multiple income streams, flexible use, and a prime Main Street location in one asset. Ideal for investors, entrepreneurs, or owner-operators looking to maximize both cash flow and long-term upside. Immediate income, no HOA and unrestricted, offering freedom for a variety of uses, all set among the scenic mountain views and tree-lined streets of Pikeville.

Key facts

• 4 car garage
• Residential income
• Historic character

Tags

• RETAIL PRESENCE
• RESIDENTIAL INCOME
• FULLY LEASED APARTMENTS
• 4 CAR GARAGE
• PRIVATE SWIMMING POOL
• HISTORIC CHARACTER

Property features AI

Finance

• HOA & community: Community pool

Exterior

• Parking: Detached paved garage; 4 covered parking spaces (4 total spaces)
• Utilities: Public water; Public sewer; Electricity available
• Home design: Residential property; Three or more levels; Existing (previously built)
• Construction: Brick and other exterior materials; Metal roof; Block foundation
• Exterior features: Deck; Balcony; Back yard fencing; Private in-ground pool; Views; Corner lot

Interior

• Kitchen: Refrigerator; Microwave; Electric range; Pantry
• Bedrooms: 6 bedrooms
• Flooring: Carpet; Laminate; Other
• Bathrooms: 6 full bathrooms; 1 half bathroom
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Ceiling fans; High ceilings; Open floor plan; Master bathroom suite; Kitchen with pantry

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $580k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $580k).
• Recommended offer: $563k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#296 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing B+; Watch: health & safety C-, amenities F, commute F.
• Bledsoe County (rural): math 19% / reading 27% proficiency, ranked #104 of 139 in TN (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Bledsoe County High School (math 2% / reading 32%, grade F, #215 of 332 statewide, top 67%, 483 students, 0% FRL) — zoned schools average 0% FRL vs 69% district-wide (69 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 155 active listings in the ZIP.

Forward outlook

• In year one you build about $62k of equity ($4k loan paydown + $58k appreciation (10.0% local appreciation)).
• Bledsoe County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $162k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$100k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($563k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $500k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 8→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $562,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.01% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.37%
• DSCR: 1.37
• GRM: 8.3

CMA / ARV

• ARV (median comp): $243,155
• List price: $580,000
• Delta: 138.53%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 30.4%
• Equity multiple: 3.39×
• Total profit: $387,797
• Equity at exit: $522,510

10-year hold

• IRR: 26.3%
• Equity multiple: 7.68×
• Total profit: $1,084,782
• Equity at exit: $1,126,812

Cash invested: $162,400 (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 37367

• Home prices YoY: 34.5%
• Active inventory: 155
• Price-to-rent: 24.9×

Monthly cashflow live

• Estimated rent: $5,834 medium
• Mortgage (P&I): −$3,042
• Tax from tax record: −$193 /mo · $2,313/yr
• Insurance: −$242
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,225
• Net cashflow: $1,133

Break-even live

Break-even rent $4,400

Max offer price $580,000

Occupancy floor 76%

Sensitivity live

Price	-10% $1,461	-5% $1,297	+0% $1,133	+5% $969	+10% $805
Rent	-10% $672	-5% $902	+0% $1,133	+5% $1,363	+10% $1,594
Rate	-1.0pp $1,425	-0.5pp $1,280	base $1,133	+0.5pp $983	+1.0pp $830

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$5,835
Total (3 units)			$5,834

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: $145,000
• Closing costs: $17,400
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-18
   price $580,000 Active 57 DOM

   Show marketing remark (1729 chars)

   Mixed-Use Investment Opportunity in the Heart of Pikeville Located at 3251 Main Street in Pikeville, this versatile multi-use property offers a rare combination of retail presence, residential income, and small-town charm. Situated just steps from the Bledsoe County Courthouse and within walking distance to the town's popular weekend farmers market, the location delivers both visibility and community-driven foot traffic. The property features a leased street-facing retail storefront plus 3 fully leased 1BD apartments, providing immediate, consistent income. An extremely nice and large 32x44 garage with office and full bathroom adds additional revenue potential and flexibility for storage, workspace, or future conversion with 1,408 sq ft offers loads of potential. In addition, a spacious move in ready 3BD/2BA owner's residence with private swimming pool creates the perfect opportunity for owner-occupancy, executive rental, or short-term rental income potential. Positioned in a charming hometown setting known for its local vendors, walkability, and historic character--and located within a short drive to Fall Creek Falls & Cumberland State Parks--this property benefits from both local engagement and regional tourism appeal, enhancing long-term rental and short-term income opportunities. Opportunities like this are increasingly limited--combining multiple income streams, flexible use, and a prime Main Street location in one asset. Ideal for investors, entrepreneurs, or owner-operators looking to maximize both cash flow and long-term upside. Immediate income, no HOA and unrestricted, offering freedom for a variety of uses, all set among the scenic mountain views and tree-lined streets of Pikeville.

2. 2026-06-18
   days on market $590,000 Active 57 DOM

   Show marketing remark (1729 chars)

   Mixed-Use Investment Opportunity in the Heart of Pikeville Located at 3251 Main Street in Pikeville, this versatile multi-use property offers a rare combination of retail presence, residential income, and small-town charm. Situated just steps from the Bledsoe County Courthouse and within walking distance to the town's popular weekend farmers market, the location delivers both visibility and community-driven foot traffic. The property features a leased street-facing retail storefront plus 3 fully leased 1BD apartments, providing immediate, consistent income. An extremely nice and large 32x44 garage with office and full bathroom adds additional revenue potential and flexibility for storage, workspace, or future conversion with 1,408 sq ft offers loads of potential. In addition, a spacious move in ready 3BD/2BA owner's residence with private swimming pool creates the perfect opportunity for owner-occupancy, executive rental, or short-term rental income potential. Positioned in a charming hometown setting known for its local vendors, walkability, and historic character--and located within a short drive to Fall Creek Falls & Cumberland State Parks--this property benefits from both local engagement and regional tourism appeal, enhancing long-term rental and short-term income opportunities. Opportunities like this are increasingly limited--combining multiple income streams, flexible use, and a prime Main Street location in one asset. Ideal for investors, entrepreneurs, or owner-operators looking to maximize both cash flow and long-term upside. Immediate income, no HOA and unrestricted, offering freedom for a variety of uses, all set among the scenic mountain views and tree-lined streets of Pikeville.

3. 2026-06-17
   days on market $590,000 Active 56 DOM
4. 2026-06-16
   days on market $590,000 Active 55 DOM
5. 2026-06-15
   days on market $590,000 Active 54 DOM
6. 2026-06-14
   days on market $590,000 Active 52 DOM
7. 2026-06-10
   days on market $590,000 Active 49 DOM
8. 2026-06-09
   days on market $590,000 Active 48 DOM
9. 2026-06-08
   days on market $590,000 Active 47 DOM
10. 2026-06-07
    days on market $590,000 Active 46 DOM
11. 2026-06-03
    days on market $590,000 Active 42 DOM
12. 2026-06-02
    days on market $590,000 Active 41 DOM
13. 2026-06-01
    days on market $590,000 Active 40 DOM
14. 2026-05-31
    days on market $590,000 Active 39 DOM
15. 2026-05-30
    days on market $590,000 Active 38 DOM
16. 2026-04-23
    listed $590,000 Active 1731-char remark
17. 2026-04-22
    listed $590,000 Active 1729-char remark

    Show marketing remark (1729 chars)

    Mixed-Use Investment Opportunity in the Heart of Pikeville Located at 3251 Main Street in Pikeville, this versatile multi-use property offers a rare combination of retail presence, residential income, and small-town charm. Situated just steps from the Bledsoe County Courthouse and within walking distance to the town's popular weekend farmers market, the location delivers both visibility and community-driven foot traffic. The property features a leased street-facing retail storefront plus 3 fully leased 1BD apartments, providing immediate, consistent income. An extremely nice and large 32x44 garage with office and full bathroom adds additional revenue potential and flexibility for storage, workspace, or future conversion with 1,408 sq ft offers loads of potential. In addition, a spacious move in ready 3BD/2BA owner's residence with private swimming pool creates the perfect opportunity for owner-occupancy, executive rental, or short-term rental income potential. Positioned in a charming hometown setting known for its local vendors, walkability, and historic character--and located within a short drive to Fall Creek Falls & Cumberland State Parks--this property benefits from both local engagement and regional tourism appeal, enhancing long-term rental and short-term income opportunities. Opportunities like this are increasingly limited--combining multiple income streams, flexible use, and a prime Main Street location in one asset. Ideal for investors, entrepreneurs, or owner-operators looking to maximize both cash flow and long-term upside. Immediate income, no HOA and unrestricted, offering freedom for a variety of uses, all set among the scenic mountain views and tree-lined streets of Pikeville.

18. 2026-02-14
    historical
19. 2026-01-20
    listed $559,900
20. 2026-01-20
    listed $559,900
21. 2025-12-06
    listed $650,000
22. 2021-12-21
    soldstatus $499,999
23. 2021-12-20
    soldstatus $499,999
24. 2021-12-20
    soldstatus $499,999
25. 2021-12-20
    soldstatus $499,999 Closed
26. 2021-12-20
    soldstatus $499,999 Closed
27. 2021-11-02
    historical Pending - Continue to Show - Inspection
28. 2021-11-01
    historical Pending - Continue to Show - Inspection
29. 2021-09-10
    price $559,900
30. 2021-09-10
    price $559,900
31. 2021-08-02
    listed $599,900 Active
32. 2021-07-15
    listed $599,900 Active
33. 2020-10-23
    soldstatus $21,000
34. 2008-12-08
    soldstatus $67,600

ⓘ 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: $2,313 · $193/mo
• Projected year-2 tax: $4,118 · $343/mo
• Expected delta: +$1,805/yr (+$150/mo · 78.0%)

ⓘ 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 6/10 Major 8 d/yr ≥103°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $70,008
• − Mortgage interest: −$32,489
• − Property taxes: −$2,313
• − Insurance: −$2,900
• − Repairs & maintenance: −$5,601
• − Management: −$5,601
• − Depreciation: −$16,873
• Taxable income: $4,232
• Est. tax owed @ 24.0%: −$1,016
• After-tax cash flow: $12,579/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: Bledsoe County
• NCES district ID: 4700270
• Math proficiency: 19% ▼ -13.00%
• Reading proficiency: 27% ▼ -1.00%
• Median HH income: $35,901
• Composite: 19.02/100
• National rank: #8845
• State rank: #104 of 139 in TN

Livability — Pikeville

• Score: 59/100
• State rank: #296
• US rank: #20539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pikeville, TN
• County: Bledsoe · 11,736 people
• Population (ZIP): 11,736
• Household income: $54,696
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 2.1

Population outlook (Bledsoe County) Hauer SSP2

• Today (2025): 18,085 people
• By 2030: 19,649 · +8.6%
• By 2040: 22,438 · +24.1%
• By 2050: 24,582 · +35.9%
• By 2075: 26,769 · +48.0%
• By 2100: 25,033 · +38.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Italian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Bledsoe

• 2024 margin: Solid R (+70.5) · D 14.4% · R 84.9%
• 2008→2024 swing: -36.0pp toward R · 2008: -34.5pp · 2024: -70.5pp
• All cycles: 2024: R+70.5 2020: R+65.2 2016: R+58.6 2012: R+40.3 2008: R+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 106.44%
• Current HPI: 415.344
• 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

+758.0% since first listed

21 events — show timeline

• 2026-06-18 Price Changed $580,000 REALTRACS as Distributed by MLS Grid
• 2026-06-18 Price Changed $580,000 GCAR
• 2026-04-23 Listed $590,000 REALTRACS as Distributed by MLS Grid
• 2026-04-22 Listed $590,000 GCAR
• 2026-02-14 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2026-01-20 Listed $559,900 REALTRACS as Distributed by MLS Grid
• 2026-01-20 Listed $559,900 REALTRACS as Distributed by MLS Grid
• 2025-12-06 Listed $650,000 REALTRACS as Distributed by MLS Grid
• 2021-12-21 Sold (Public Records) $499,999 Public Records
• 2021-12-20 Sold (MLS) $499,999 Knoxville MLS
• 2021-12-20 Sold (MLS) $499,999 Knoxville MLS
• 2021-12-20 Sold (MLS) $499,999 REALTRACS as Distributed by MLS Grid
• 2021-12-20 Sold (MLS) $499,999 REALTRACS as Distributed by MLS Grid
• 2021-11-02 Contingent — Knoxville MLS
• 2021-11-01 Contingent — Knoxville MLS
• 2021-09-10 Price Changed $559,900 Knoxville MLS
• 2021-09-10 Price Changed $559,900 Knoxville MLS
• 2021-08-02 Listed $599,900 Knoxville MLS
• 2021-07-15 Listed $599,900 Knoxville MLS
• 2020-10-23 Sold (Public Records) $21,000 Public Records
• 2008-12-08 Sold (Public Records) $67,600 Public Records

Property tax history

+5.0%/yr

Latest (2025): $2,313 · +0.0% YoY. Source: county tax records.