212 Cedar River Rd · Shelbyville, TN 37160

$189,900

4 bd · 2.0 ba · 1,592 sqft · MultiFamily · 19 Days on market

Built 1988 Fair condition $119/sqft · 35% below area Est $294k · 35% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Have you ever thought of having rental income? Here is your chance. Investment opportunity in Shelbyville. Sale is for duplex building 2 units. Each unit consist of 2 bedrooms 1 bath and laundry room. Central heat and air. Stove and refrigerator. Each unit rents for $800 monthly totaling $1600 a month Income. Unit A currently rented. Unit B is vacant at this time being used to show buyers. Seller also has for sale a second unit at 208 cedar river both listed together MLS# 3179149.Please do not disturb the tenants. NO sign on property.

Key facts

• Central heat and air
• Laundry room
• Duplex building

Tags

• INVESTMENT OPPORTUNITY
• DUPLEX BUILDING
• CENTRAL HEAT AND AIR
• LAUNDRY ROOM

Property features AI

Finance

• Financial info: Gross income: $19,200; Net operating income: $16,570; Owner pays: None; Tenants pay cable TV, electricity, and gas

Exterior

• Parking: No covered parking reported; No total parking spaces reported
• Utilities: Electricity available; Natural gas available; Water available; Public water; Public sewer
• Home design: Duplex; One level; Residential income property; Attached property; Zoned commercial
• Construction: Vinyl siding; Asphalt roof; Existing structure
• Exterior features: Public water; Public sewer

Interior

• Bedrooms: Two 2-bedroom units (each unit has 2 bedrooms)
• Flooring: Concrete
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Central heating (natural gas); Central electric air conditioning
• Interior features: Concrete floors
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $190k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $538/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.1% vs local median 3.6% in Shelbyville — 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 (#183 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D, employment D.
• Bedford County (rural): math 24% / reading 23% proficiency, ranked #97 of 139 in TN (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: South Side Elementary (math 27% / reading 22%, grade F, #546 of 952 statewide, top 61%, 387 students, 0% FRL); Shelbyville Central High School (math 2% / reading 28%, grade F, #236 of 332 statewide, top 71%, 1,553 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: 354 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 630 units permitted in Bedford County in 2024 (6 in 5+ unit buildings).
• At $3,023/mo this rent would consume 56% of the median local household income ($65k/yr) (locally 1093% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Bedford County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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.

Risks & watch-outs

• 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 $187,051 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 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: 1.59% ✓
• Cap rate: 13.09%
• Cash-on-cash: 24.28%
• DSCR: 2.08
• GRM: 5.2

CMA / ARV

• ARV (median comp): $294,243
• List price: $189,900
• Delta: -35.46%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
197 Cedar Grove Rd	0.14mi	4/4.0	1,800 (+13%)	12mo	$379,000	$211	54

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: 17.6%
• Equity multiple: 1.71×
• Total profit: $37,793
• Equity at exit: $28,315

10-year hold

• IRR: 26.1%
• Equity multiple: 3.28×
• Total profit: $121,324
• Equity at exit: $16,419

Cash invested: $53,172 (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 37160

• Home prices YoY: -23.1%
• Active inventory: 354
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $3,023 medium
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$635
• Net cashflow: $1,076

Break-even live

Break-even rent $1,661

Max offer price $189,900

Occupancy floor 59%

Sensitivity live

Price	-10% $1,207	-5% $1,141	+0% $1,076	+5% $1,010	+10% $945
Rent	-10% $837	-5% $956	+0% $1,076	+5% $1,195	+10% $1,315
Rate	-1.0pp $1,171	-0.5pp $1,124	base $1,076	+0.5pp $1,027	+1.0pp $977

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,024
Total (2 units)			$3,023

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
111 W End Ave Shelbyville, TN	3.0	2.0	1120	$1,675	$1.50	44d	1	0.71mi
403 Dover St Shelbyville, TN	3.0	2.0	1221	$1,105	$0.90	13d	1	0.77mi
217 Chevelle Ct Shelbyville, TN	3.0	2.5	1650	$2,500	$1.52	44d	1	1.07mi

Listing history 3 events

1. 2026-05-08
   listed $189,900 Active 541-char remark
2. 2016-12-09
   historical
3. 2016-11-28
   listed $59,900 Active

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $36,276
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$950
• − Repairs & maintenance: −$2,902
• − Management: −$2,902
• − Depreciation: −$5,524
• Taxable income: $10,512
• Est. tax owed @ 24.0%: −$2,523
• After-tax cash flow: $10,387/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 · 11 photos

Fair 45/100 Moderate rehab

The property is in fair condition with moderate repairs needed. Paint touch-ups and landscaping improvements would significantly enhance its resale and rental value.

Repairs flagged

• Minor Kitchen cabinets — Slight wear and tear visible
• Minor Bathroom fixtures — Slight wear and tear visible
• Minor Exterior paint — Slight wear and tear visible
• Minor Landscaping — Basic landscaping, could use some maintenance

Value-add opportunities

• Both Paint touch-ups — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Improved landscaping enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Slight wear and tear visible	Minor	$500–3,000
Bathroom fixtures · Slight wear and tear visible	Minor	$500–3,000
Exterior paint · Slight wear and tear visible	Minor	$500–3,000
Landscaping · Basic landscaping, could use some maintenance	Minor	$500–3,000
Total estimated repair cost · 4 items		$2,000–12,000

Value-add ROI direction

• Both Paint touch-ups — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Improved landscaping enhances curb appeal and property 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: Bedford County
• NCES district ID: 4700180
• Math proficiency: 24% ▼ -4.00%
• Reading proficiency: 23% ▼ -3.00%
• Median HH income: $41,704
• Composite: 20.03/100
• National rank: #8658
• State rank: #97 of 139 in TN

Livability — Shelbyville

• Score: 64/100
• State rank: #183
• US rank: #14818

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: Shelbyville, TN
• County: Bedford County · 38,148 people
• City population: 38,148
• Metro: Shelbyville, TN
• Population (ZIP): 38,148
• Household income: $64,800
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 1093.0

Population outlook (Bedford County) Hauer SSP2

• Today (2025): 51,064 people
• By 2030: 52,954 · +3.7%
• By 2040: 56,534 · +10.7%
• By 2050: 59,482 · +16.5%
• By 2075: 65,597 · +28.5%
• By 2100: 68,030 · +33.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 21% Two or more races 11% Black 8% Native American 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Serbian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 15% Arabic 1%

Political lean MEDSL · Bedford

• 2024 margin: Solid R (+58.0) · D 20.5% · R 78.5%
• 2008→2024 swing: -24.5pp toward R · 2008: -33.5pp · 2024: -58.0pp
• All cycles: 2024: R+58.0 2020: R+51.9 2016: R+52.8 2012: R+40.3 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.18%
• Current HPI: 330.802
• Rent YoY: —
• Metro: Shelbyville, 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

+217.0% since first listed

4 events — show timeline

• 2026-05-27 Pending — REALTRACS as Distributed by MLS Grid
• 2026-05-08 Listed $189,900 REALTRACS as Distributed by MLS Grid
• 2016-12-09 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2016-11-28 Listed $59,900 REALTRACS as Distributed by MLS Grid