704 Fleming St · Columbia, TN 38401

$260,000

3 bd · 2.0 ba · 1,538 sqft · SingleFamily public records · 104 Days on market

Built 1953 0.29 ac lot $169/sqft · 17% below area Est $313k · 17% under ↓ 7% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +10.3/30.0
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• DSCR +3.0/10.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Adorable Riverside neighborhood cottage. Amazing location. Hardwood flooring in all bedrooms, dining room, den, and living room. Appliances included. Covered front porch and side entry deck. Newer hvac system and newer roof. Not in a flood plain.

Key facts

• Hardwood flooring
• Covered front porch
• Side entry deck

Tags

• HARDWOOD FLOORING
• COVERED FRONT PORCH
• SIDE ENTRY DECK
• NEWER HVAC SYSTEM
• NEWER ROOF
• NOT IN A FLOOD PLAIN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-141 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (9.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (29.9% below list).
• Recommended offer: $182k (29.9% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 2.8% in Columbia — 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 63/100 on livability (#207 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, schools F.
• Maury County (town): math 19% / reading 21% proficiency, ranked #108 of 139 in TN (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+5.0%/yr); 1118 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,650 units permitted in Maury County in 2024 (60 in 5+ unit buildings).
• This rent runs 32% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Maury County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($237k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $182,311 (29.9% below list)

Questions for the listing agent

1. 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?
2. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.70% ✗
• Cap rate: 5.64%
• Cash-on-cash: -2.32%
• DSCR: 0.90
• GRM: 11.9

CMA / ARV

• ARV (median comp): $313,240
• List price: $260,000
• Delta: -17.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
402 4th Ave	0.31mi	3/2.0	1,569 (+2%)	2mo	$313,500	$200	80
407 6th Ave	0.13mi	4/2.5 (+1)	1,523 (-1%)	11mo	$360,000	$236	76
207 2nd Ave	0.51mi	3/2.0	1,542 (+0%)	1mo	$345,000	$224	75
109 Bass Dr	0.27mi	3/3.0	1,656 (+8%)	0mo	$347,900	$210	70
305 2nd Ave	0.46mi	3/1.0	1,535 (-0%)	7mo	$270,000	$176	68
104 3rd Ave	0.55mi	3/2.0	1,548 (+1%)	8mo	$170,000	$110	67
108 8th Ave	0.27mi	3/1.5	1,706 (+11%)	3mo	$303,900	$178	65
112 3rd Ave	0.51mi	2/1.0 (-1)	1,548 (+1%)	3mo	$279,000	$180	64
308 6th Ave	0.22mi	3/2.5	1,322 (-14%)	4mo	$337,000	$255	61
212 3rd Ave	0.44mi	4/2.5 (+1)	1,598 (+4%)	9mo	$374,000	$234	59
115 7th Ave	0.34mi	3/2.0	1,716 (+12%)	7mo	$350,000	$204	59
106 7th Ave	0.40mi	4/2.0 (+1)	1,714 (+11%)	0mo	$335,000	$195	57

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 · 4.97% rent growth · sell at horizon

5-year hold

• IRR: -18.3%
• Equity multiple: 0.35×
• Total profit: $-47,514
• Equity at exit: $38,767

10-year hold

• IRR: -7.6%
• Equity multiple: 0.48×
• Total profit: $-37,600
• Equity at exit: $22,480

Cash invested: $72,800 (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 38401

• Home prices YoY: -22.7%
• Rents YoY: 5.0%
• Active inventory: 1118
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,823 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$109 /mo · $1,310/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $-141

Break-even live

Break-even rent $2,001

Max offer price $235,143

Occupancy floor —

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 Fleming St Columbia, TN	3.0	2.0	1470	$1,700	$1.16	44d	1	0.25mi
927 Sutton Cv Columbia, TN	2.0	2.5	1230	$1,400	$1.14	23d	1	0.48mi
326 Seaton Way Columbia, TN	3.0	2.5	1601	$1,800	$1.12	43d	1	0.49mi
202 3rd Ave Columbia, TN	3.0	1.5	1600	$2,000	$1.25	2d	1	0.50mi
1415 Walker Way Columbia, TN	3.0	2.5	1482	$1,790	$1.21	43d	1	0.59mi
1407 Walker Way Columbia, TN	3.0	2.0	1394	$1,675	$1.20	3d	1	0.60mi
1406 Walker Way Columbia, TN	3.0	3.0	1363	$1,749	$1.28	23d	1	0.61mi
1005 Marcy Lndg Columbia, TN	3.0	2.5	1482	$1,645	$1.11	21d	1	0.61mi
1005 Marcy Lndg Unit 1 Columbia, TN	3.0	2.0	1482	$1,645	$1.11	21d	1	0.62mi
610 Clifford Hts Columbia, TN	3.0	2.5	1363	$1,675	$1.23	21d	1	0.65mi
608 Clifford Hts Columbia, TN	3.0	2.5	1363	$1,700	$1.25	43d	1	0.65mi
656 Taylor Bend Rd Columbia, TN	3.0	2.5	1993	$2,300	$1.15	12d	1	0.65mi
725 Prairie View Dr Unit 1 Columbia, TN	3.0	2.5	1600	$1,675	$1.05	10d	1	0.67mi
741 Prairie View Dr Unit 1 Columbia, TN	3.0	2.0	1577	$1,675	$1.06	10d	1	0.67mi
105 Creek Trl Unit A Columbia, TN	2.0	1.0	1674	$1,600	$0.96	1d	1	0.70mi
105 Creek Trl Unit A Columbia, TN	2.0	1.0	1674	$1,650	$0.99	43d	1	0.70mi
958 Oak Ridge Ln Columbia, TN	3.0	2.5	1600	$1,825	$1.14	23d	1	0.72mi
908 Mapleash Ave Columbia, TN	3.0	2.0	1112	$1,750	$1.57	17d	1	1.04mi
615 N High St Unit B Columbia, TN	3.0	2.5	1200	$1,300	$1.08	23d	1	1.06mi
915 Mapleash Ave Columbia, TN	4.0	2.0	1308	$1,995	$1.53	43d	1	1.07mi
107 E 9th St Unit D-7 Columbia, TN	3.0	3.5	2060	$2,550	$1.24	17d	1	1.17mi
505 Washington St Columbia, TN	3.0	2.0	1241	$1,950	$1.57	43d	1	1.33mi
721 Poplar St Unit B Columbia, TN	4.0	2.5	1491	$2,500	$1.68	3d	1	1.46mi
721 Poplar St Unit A Columbia, TN	4.0	2.5	1491	$2,500	$1.68	43d	1	1.46mi

Listing history 16 events

1. 2026-06-18
   days on market $260,000 Active 104 DOM
2. 2026-06-17
   days on market $260,000 Active 103 DOM
3. 2026-06-16
   days on market $260,000 Active 102 DOM
4. 2026-06-15
   days on market $260,000 Active 101 DOM
5. 2026-06-13
   days on market $260,000 Active 99 DOM
6. 2026-06-13
   days on market $260,000 Active 98 DOM
7. 2026-06-09
   days on market $260,000 Active 95 DOM
8. 2026-06-08
   days on market $260,000 Active 94 DOM
9. 2026-06-07
   days on market $260,000 Active 93 DOM
10. 2026-06-03
    days on market $260,000 Active 89 DOM
11. 2026-06-02
    days on market $260,000 Active 88 DOM
12. 2026-06-01
    days on market $260,000 Active 87 DOM
13. 2026-05-31
    days on market $260,000 Active 86 DOM
14. 2026-04-17
    price $260,000 246-char remark

    Show marketing remark (246 chars)

    Adorable Riverside neighborhood cottage. Amazing location. Hardwood flooring in all bedrooms, dining room, den, and living room. Appliances included. Covered front porch and side entry deck. Newer hvac system and newer roof. Not in a flood plain.

15. 2026-03-24
    price $270,000 246-char remark

    Show marketing remark (246 chars)

    Adorable Riverside neighborhood cottage. Amazing location. Hardwood flooring in all bedrooms, dining room, den, and living room. Appliances included. Covered front porch and side entry deck. Newer hvac system and newer roof. Not in a flood plain.

16. 2026-03-06
    listed $280,000 Active 246-char remark

    Show marketing remark (246 chars)

    Adorable Riverside neighborhood cottage. Amazing location. Hardwood flooring in all bedrooms, dining room, den, and living room. Appliances included. Covered front porch and side entry deck. Newer hvac system and newer roof. Not in a flood plain.

ⓘ 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: $1,310 · $109/mo
• Projected year-2 tax: $1,846 · $154/mo
• Expected delta: +$536/yr (+$45/mo · 40.9%)

ⓘ 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 6/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% 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: $21,877
• − Mortgage interest: −$14,564
• − Property taxes: −$1,310
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,750
• − Management: −$1,750
• − Depreciation: −$7,564
• Taxable loss: −$6,361
• Est. tax savings @ 24.0%: +$1,527
• After-tax cash flow: $-162/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: Maury County
• NCES district ID: 4702760
• Math proficiency: 19% ▼ -5.00%
• Reading proficiency: 21% ▼ -4.00%
• Median HH income: $47,668
• Composite: 17.69/100
• National rank: #9024
• State rank: #108 of 139 in TN

Livability — Columbia

• Score: 63/100
• State rank: #207
• US rank: #16090

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbia, TN
• County: Maury County · 121,382 people
• City population: 67,482
• Metro: Nashville-Davidson--Murfreesboro--Franklin, TN
• Population (ZIP): 67,482
• Household income: $68,475
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 2026.0

Population outlook (Maury County) Hauer SSP2

• Today (2025): 102,894 people
• By 2030: 110,269 · +7.2%
• By 2040: 124,426 · +20.9%
• By 2050: 137,543 · +33.7%
• By 2075: 167,438 · +62.7%
• By 2100: 184,489 · +79.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 12% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 1% Serbian 1% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Maury

• 2024 margin: Solid R (+44.6) · D 27.1% · R 71.8% · Other 1.1%
• 2008→2024 swing: -6.2pp toward R · 2008: -38.4pp · 2024: -44.6pp
• All cycles: 2024: R+44.6 2020: R+36.5 2016: R+39.2 2012: R+26.9 2008: R+38.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.75%
• Current HPI: 343.0362
• Rent YoY: ▲ 4.97%
• Metro: Nashville-Davidson--Murfreesboro--Franklin, TN
• 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

-7.1% since first listed

3 events — show timeline

• 2026-04-17 Price Changed $260,000 REALTRACS as Distributed by MLS Grid
• 2026-03-24 Price Changed $270,000 REALTRACS as Distributed by MLS Grid
• 2026-03-06 Listed $280,000 REALTRACS as Distributed by MLS Grid

Property tax history

+4.3%/yr

Latest (2025): $1,310 · +0.0% YoY. Source: county tax records.