360 Floyd Dr · Smithville, TN 37166

$130,000

2 bd · 2.0 ba · 1,120 sqft · Manufactured · 14 Days on market

Built 1988 Poor condition 0.53 ac lot

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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 +24.9/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +1.7/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WOW ! Great opportunity to own a nice weekend retreat, or investment/rental property in a lake community , fully furnished, lots of parking for RV or boats, 2 nice buildings with electricity, huge covered screen porch, nice covered front porch, mostly level lot (consist of parcel 37 & 38), boat ramp in the development also. Come take a look !

Key facts

• 0.53 acre lot
• Built 1988
• Listed 13 days

Property features AI

Finance

• Other: Lot approximately 0.53 acres (110 x 315 irregular); Living area about 1,120 (assessor)
• Financial info: Annual tax amount reported (not included per instructions)

Exterior

• Parking: No covered parking reported; No designated parking spaces reported
• Utilities: Private water; Septic sewer; Water service available
• Home design: Residential mobile home; One level; Renovated
• Construction: Aluminum siding
• Exterior features: Water available; Private water source; Septic tank

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Refrigerator included; Carpet and laminate flooring; No basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $130k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $281 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Cap rate 8.9% vs local median 2.4% in Smithville — 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 64/100 on livability (#164 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: crime C-, health & safety C-, amenities F.
• Dekalb County (rural): math 17% / reading 23% proficiency, ranked #115 of 139 in TN (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Smithville Elementary (599 students, 0% FRL); De Kalb County High School (math 12% / reading 32%, grade F, #163 of 332 statewide, top 51%, 807 students, 0% FRL) — zoned schools average 0% FRL vs 56% district-wide (56 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 357 active listings in the ZIP; 143 units permitted in DeKalb County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• DeKalb County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $55k; list at $130k implies a 136% gain — meaningful room to come down on a strong offer.

Recommended offer $130,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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.
5. 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.
6. 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: 1.15% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.26%
• DSCR: 1.41
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.3%
• Equity multiple: 0.91×
• Total profit: $-3,149
• Equity at exit: $19,383

10-year hold

• IRR: 7.4%
• Equity multiple: 1.56×
• Total profit: $20,392
• Equity at exit: $11,240

Cash invested: $36,400 (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 37166

• Home prices YoY: -6.8%
• Active inventory: 357
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,493 medium
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $281

Break-even live

Break-even rent $1,137

Max offer price $130,000

Occupancy floor 76%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-19
   days on market $130,000 Coming Soon 14 DOM
2. 2026-06-18
   days on market $130,000 Coming Soon 13 DOM
3. 2026-06-17
   days on market $130,000 Coming Soon 12 DOM
4. 2026-06-16
   days on market $130,000 Coming Soon 11 DOM
5. 2026-06-15
   days on market $130,000 Coming Soon 10 DOM
6. 2026-06-14
   days on market $130,000 Coming Soon 8 DOM
7. 2026-06-12
   days on market $130,000 Coming Soon 7 DOM
8. 2026-06-09
   days on market $130,000 Coming Soon 4 DOM
9. 2026-06-08
   days on market $130,000 Coming Soon 3 DOM
10. 2026-06-07
    remarks 12-char remark
11. 2026-06-07
    listed $130,000 Coming Soon 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 6 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,914
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$1,433
• − Management: −$1,433
• − Depreciation: −$3,782
• Taxable income: $1,384
• Est. tax owed @ 24.0%: −$332
• After-tax cash flow: $3,039/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This manufactured home requires extensive repairs and updates to bring it up to a livable condition. Significant investments in the exterior, roof, flooring, and interior walls are necessary to increase its resale and rental value.

Repairs flagged

• Major siding — Significant damage
• Major roof — Missing shingles
• Major flooring — Worn-out carpet
• Major interior walls — Peeling paint

Value-add opportunities

• Both new siding — Enhances curb appeal and value
• Both new roof — Improves structural integrity and value
• Both new flooring — Enhances interior aesthetics and value
• Both paint interior walls — Freshens up the interior and enhances value

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant damage	Major	$15,000–50,000
roof · Missing shingles	Major	$15,000–50,000
flooring · Worn-out carpet	Major	$15,000–50,000
interior walls · Peeling paint	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both new siding — Enhances curb appeal and value ↑
• Both new roof — Improves structural integrity and value ↑
• Both new flooring — Enhances interior aesthetics and value ↑
• Both paint interior walls — Freshens up the interior and enhances value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Dekalb County
• NCES district ID: 4700990
• Math proficiency: 17% ▼ -16.00%
• Reading proficiency: 23% ▼ -7.00%
• Median HH income: $37,832
• Composite: 16.73/100
• National rank: #9165
• State rank: #115 of 139 in TN

Livability — Smithville

• Score: 64/100
• State rank: #164
• US rank: #14208

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 15,116

Population outlook (DeKalb County) Hauer SSP2

• Today (2025): 20,289 people
• By 2030: 20,738 · +2.2%
• By 2040: 21,411 · +5.5%
• By 2050: 21,751 · +7.2%
• By 2075: 22,170 · +9.3%
• By 2100: 21,381 · +5.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 5% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 2% Serbian 1% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 93% English-only · Spanish 6% French/Haitian/Cajun 1%

Political lean MEDSL · DeKalb

• 2024 margin: Solid R (+62.7) · D 18.2% · R 80.9%
• 2008→2024 swing: -45.0pp toward R · 2008: -17.7pp · 2024: -62.7pp
• All cycles: 2024: R+62.7 2020: R+57.8 2016: R+51.9 2012: R+30.7 2008: R+17.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -23.64%
• Current HPI: 324.0199
• 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

+117.0% since first listed

3 events — show timeline

• 2026-06-05 Coming Soon $130,000 REALTRACS as Distributed by MLS Grid
• 2019-07-20 Sold (MLS) $55,000 REALTRACS as Distributed by MLS Grid
• 2019-06-07 Listed $59,900 REALTRACS as Distributed by MLS Grid