583 N Broad St · Lexington, TN 38351

$130,000

3 bd · 1.0 ba · 1,883 sqft · SingleFamily public records · 140 Days on market

Built 1949 0.54 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 +22.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +4.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Offering Space & Potential! This home offers approximately 1900 sq. ft. of living space plus unfinished basement. Features 3 bedrooms, 2 baths, living room, large den, and formal dining room. The home is ready for some updates. Exterior highlights include a beautiful backyard and a circle drive providing convenient access and added safety. Opportunity is knocking on this one. Don't miss it. Located just minutes from 1-40 between Memphis and Nashville at Exit 108, in the beautiful little Southern town of Lexington, , known for its many recreational lakes, Natchez Trace State Park, and awarding winning pork BBQ,

Key facts

• Unfinished basement
• Circle drive
• Beautiful backyard

Tags

• UNFINISHED BASEMENT
• BEAUTIFUL BACKYARD
• CIRCLE DRIVE

Property features AI

Exterior

• Parking: Five open parking spaces; Circular driveway and parking pad
• Utilities: Public water; Public sewer; Natural gas available and connected; Electricity connected
• Home design: Single-family residence; One level / One-story
• Construction: Vinyl siding; Combination foundation; Shingle roof; Built as a residential single-family home
• Exterior features: Rain gutters; Asphalt road frontage (public maintained highway); Lot approximately 0.54 acres (90 x 264 irregular); Zoned R2

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Three main-level bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Ceiling fans; Pantry; Partial basement; Gas log fireplace
• Laundry & utility: Main-level laundry; 220V outlet in laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (0.7% below list).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 2.7% in Lexington — 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 67/100 on livability (#96 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime D, schools F, amenities F.
• Lexington (town): math 31% / reading 26% proficiency, ranked #68 of 139 in TN (top 49%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 160 active listings in the ZIP; 27 units permitted in Henderson 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.
• Henderson County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $40k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D 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?
7. 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.
8. 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.
9. 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: 0.99% ✗
• Cap rate: 8.38%
• Cash-on-cash: 7.44%
• DSCR: 1.33
• GRM: 8.4

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: -5.0%
• Equity multiple: 0.82×
• Total profit: $-6,733
• Equity at exit: $19,383

10-year hold

• IRR: 4.7%
• Equity multiple: 1.34×
• Total profit: $12,467
• 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 38351

• Home prices YoY: -10.8%
• Active inventory: 160
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,291 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$58 /mo · $695/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $226

Break-even live

Break-even rent $1,005

Max offer price $130,000

Occupancy floor 78%

Sensitivity live

Price	-10% $299	-5% $263	+0% $226	+5% $189	+10% $152
Rent	-10% $124	-5% $175	+0% $226	+5% $277	+10% $328
Rate	-1.0pp $291	-0.5pp $259	base $226	+0.5pp $192	+1.0pp $158

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. 2026-06-18
   status $130,000 Pending 140 DOM
2. 2026-06-18
   days on market $130,000 Active 140 DOM
3. 2026-06-17
   days on market $130,000 Active 139 DOM
4. 2026-06-16
   days on market $130,000 Active 138 DOM
5. 2026-06-15
   days on market $130,000 Active 137 DOM
6. 2026-06-13
   pricedays on market $130,000 Active 135 DOM
7. 2026-06-12
   days on market $169,900 Active 134 DOM
8. 2026-06-09
   status $169,900 Active 131 DOM
9. 2026-05-13
   status Active
10. 2026-04-29
    status Pending
11. 2026-01-02
    listed $169,900 Active

ⓘ 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: $695 · $58/mo
• Projected year-2 tax: $923 · $77/mo
• Expected delta: +$228/yr (+$19/mo · 32.8%)

ⓘ 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 ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% 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: $15,487
• − Mortgage interest: −$7,282
• − Property taxes: −$695
• − Insurance: −$650
• − Repairs & maintenance: −$1,239
• − Management: −$1,239
• − Depreciation: −$3,782
• Taxable income: $600
• Est. tax owed @ 24.0%: −$144
• After-tax cash flow: $2,565/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: Lexington
• NCES district ID: 4702460
• Math proficiency: 31% ▼ -11.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $40,428
• Composite: 24.08/100
• National rank: #7758
• State rank: #68 of 139 in TN

Livability — Lexington

• Score: 67/100
• State rank: #96
• US rank: #10272

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lexington, TN
• City population: 17,958
• Population (ZIP): 17,958

Population outlook (Henderson County) Hauer SSP2

• Today (2025): 28,057 people
• By 2030: 27,730 · -1.2%
• By 2040: 26,664 · -5.0%
• By 2050: 25,081 · -10.6%
• By 2075: 20,747 · -26.1%
• By 2100: 15,603 · -44.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 10% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Italian 3% Serbian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Henderson

• 2024 margin: Solid R (+67.9) · D 15.8% · R 83.7%
• 2008→2024 swing: -25.0pp toward R · 2008: -42.9pp · 2024: -67.9pp
• All cycles: 2024: R+67.9 2020: R+64.1 2016: R+62.1 2012: R+48.8 2008: R+42.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -35.82%
• Current HPI: 297.0387
• 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

3 events — show timeline

• 2026-05-13 Relisted — CWTAR
• 2026-04-29 Pending — CWTAR
• 2026-01-02 Listed $169,900 CWTAR

Property tax history

+2.3%/yr

Latest (2025): $695 · +0.0% YoY. Source: county tax records.