500 S Franklin St · Tullahoma, TN 37388

$199,500

3 bd · 1.0 ba · 1,763 sqft · SingleFamily public records · 14 Days on market

Built 1900 0.27 ac lot Est $245k · 19% under

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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 +16.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• Livability +3.4/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Ist time home buyer investors

Key facts

• 0.27 acre lot
• 2 garage spots
• Built 1900

Property features AI

Finance

• Other: Lot approx. 0.27 acres (100 x 110.5); Above-grade living area approx. 1,763 sq ft

Exterior

• Parking: Detached garage with garage door opener (2 covered spaces); Driveway parking with room for 4 additional vehicles (6 total parking spaces)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity available
• Home design: Single-family residence; One-level home
• Construction: Vinyl siding; Block foundation
• Exterior features: Covered porch

Interior

• Kitchen: Eat-in kitchen approx. 14x14; Electric oven and electric range; Range; Dishwasher
• Bedrooms: 3 bedrooms (all on main level) — approx. 14x14, 12x12, 12x12; Den (combination) approx. 14x14
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Ceiling fan(s); Crawl space basement; 2 fireplaces (family room)
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $121 ($1k/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 $166k (16.9% below list).
• Recommended offer: $166k (16.9% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 3.4% in Tullahoma — 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 (#109 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, employment D+.
• Tullahoma (town): math 23% / reading 24% proficiency, ranked #101 of 139 in TN (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Jack T Farrar Elementary (math 27% / reading 27%, grade F, #496 of 952 statewide, top 55%, 354 students, 0% FRL); Tullahoma High School (math 15% / reading 32%, grade F, #145 of 332 statewide, top 44%, 1,137 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 326 active listings in the ZIP; 389 units permitted in Coffee County in 2024 (6 in 5+ unit buildings).
• This rent runs 33% of the median local income ($60k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Coffee County population projected at +9% 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.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $165,813 (16.9% below list)

Questions for the listing agent

1. Built in 1900 — 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 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?
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 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: 0.83% ✗
• Cap rate: 7.02%
• Cash-on-cash: 2.60%
• DSCR: 1.12
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $245,057
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
315 S Jefferson St	0.19mi	3/2.0	1,842 (+4%)	11mo	$245,000	$133	71
103 Noblitt Ct	0.53mi	3/1.5	1,704 (-3%)	7mo	$253,500	$149	62
417 W Coffee St	0.18mi	3/2.0	1,893 (+7%)	17mo	$185,000	$98	61
307 Heights Ave	0.62mi	3/2.0	1,800 (+2%)	9mo	$250,000	$139	56

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: -12.2%
• Equity multiple: 0.56×
• Total profit: $-24,722
• Equity at exit: $29,746

10-year hold

• IRR: -3.2%
• Equity multiple: 0.79×
• Total profit: $-11,988
• Equity at exit: $17,249

Cash invested: $55,860 (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 37388

• Home prices YoY: -19.9%
• Active inventory: 326
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,658 medium
• Mortgage (P&I): −$1,046
• Tax from tax record: −$60 /mo · $717/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $121

Break-even live

Break-even rent $1,505

Max offer price $199,500

Occupancy floor 88%

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: $49,875
• Closing costs: $5,985
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-19
   days on market $199,500 Coming Soon 14 DOM
2. 2026-06-18
   days on market $199,500 Coming Soon 13 DOM
3. 2026-06-17
   days on market $199,500 Coming Soon 12 DOM
4. 2026-06-16
   days on market $199,500 Coming Soon 11 DOM
5. 2026-06-15
   days on market $199,500 Coming Soon 10 DOM
6. 2026-06-14
   days on market $199,500 Coming Soon 8 DOM
7. 2026-06-13
   days on market $199,500 Coming Soon 7 DOM
8. 2026-06-10
   days on market $199,500 Coming Soon 5 DOM
9. 2026-06-09
   days on market $199,500 Coming Soon 4 DOM
10. 2026-06-08
    days on market $199,500 Coming Soon 3 DOM
11. 2026-06-07
    remarks 29-char remark
12. 2026-06-07
    listed $199,500 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.

Tax reassessment forecast TN · Resets to sale price

• Current annual tax: $717 · $60/mo
• Projected year-2 tax: $1,416 · $118/mo
• Expected delta: +$699/yr (+$58/mo · 97.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,898
• − Mortgage interest: −$11,175
• − Property taxes: −$717
• − Insurance: −$998
• − Repairs & maintenance: −$1,592
• − Management: −$1,592
• − Depreciation: −$5,804
• Taxable loss: −$1,979
• Est. tax savings @ 24.0%: +$475
• After-tax cash flow: $1,925/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: Tullahoma
• NCES district ID: 4704200
• Math proficiency: 23% ▼ -5.00%
• Reading proficiency: 24% ▼ -4.00%
• Median HH income: $37,384
• Composite: 19.61/100
• National rank: #8752
• State rank: #101 of 139 in TN

Livability — Tullahoma

• Score: 67/100
• State rank: #109
• US rank: #11169

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tullahoma, TN
• County: Coffee County · 57,744 people
• City population: 27,939
• Metro: Tullahoma-Manchester, TN
• Population (ZIP): 27,939
• Household income: $59,537
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 693.0

Population outlook (Coffee County) Hauer SSP2

• Today (2025): 57,234 people
• By 2030: 58,571 · +2.3%
• By 2040: 60,972 · +6.5%
• By 2050: 62,537 · +9.3%
• By 2075: 65,694 · +14.8%
• By 2100: 63,355 · +10.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 6% Hispanic / Latino 5% Black 5%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 3% Italian 3% Serbian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Coffee

• 2024 margin: Solid R (+55.1) · D 21.8% · R 76.9% · Other 1.3%
• 2008→2024 swing: -25.7pp toward R · 2008: -29.4pp · 2024: -55.1pp
• All cycles: 2024: R+55.1 2020: R+50.2 2016: R+48.6 2012: R+37.1 2008: R+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.82%
• Current HPI: 317.7062
• Rent YoY: —
• Metro: Tullahoma-Manchester, 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

1 event — show timeline

• 2026-06-06 Coming Soon $199,500 REALTRACS as Distributed by MLS Grid

Property tax history

+0.6%/yr

Latest (2025): $717 · +5.1% YoY. Source: county tax records.