11159 E Highway 88 · Gates, TN 38040

$110,000

3 bd · 1.0 ba · 932 sqft · SingleFamily public records · 49 Days on market

Built 1920 1.50 ac lot Est $134k · 18% 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 +18.3/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.8/10.0
• 1% rule +3.7/10.0
• Livability +2.7/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Enjoy peaceful country living just minutes from US-412. This well-kept 3-bedroom, 1-bath home sits on 1.5 acres, including approximately 1 acre of cultivable land—perfect for gardening, small-scale farming, or creating your own outdoor retreat. The property offers plenty of space, privacy, and the quiet charm of rural Tennessee while still providing quick access to major routes for an easy commute. A great opportunity for anyone seeking land, simplicity, and room to grow.

Key facts

• Cultivable land
• Easy commute
• Outdoor retreat

Tags

• CULTIVABLE LAND
• OUTDOOR RETREAT
• EASY COMMUTE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $102 ($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 $96k (13.1% below list).
• Recommended offer: $96k (13.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 53/100 on livability (#384 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Crockett County (rural): math 31% / reading 32% proficiency, ranked #48 of 139 in TN (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 17 active listings in the ZIP; 26 units permitted in Crockett County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($761 loan paydown + $11k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $14k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,571 (13.1% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.87% ✗
• Cap rate: 7.40%
• Cash-on-cash: 3.96%
• DSCR: 1.18
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $134,208
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11101 Tn-88	0.06mi	2/1.0 (-1)	912 (-2%)	9mo	$124,900	$137	81
115 Fincher Rd	0.36mi	3/1.0	936 (+0%)	3mo	$135,000	$144	80

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.1%
• Equity multiple: 3.15×
• Total profit: $66,332
• Equity at exit: $99,097

10-year hold

• IRR: 23.7%
• Equity multiple: 7.17×
• Total profit: $190,144
• Equity at exit: $213,706

Cash invested: $30,800 (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 38040

• Home prices YoY: 4.6%
• Active inventory: 17
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $956 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$31 /mo · $368/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $102

Break-even live

Break-even rent $827

Max offer price $110,000

Occupancy floor 84%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-05-05
   soldstatus $100,000 Closed 482-char remark

   Show marketing remark (482 chars)

   Enjoy peaceful country living just minutes from US-412. This well-kept 3-bedroom, 1-bath home sits on 1.5 acres, including approximately 1 acre of cultivable land—perfect for gardening, small-scale farming, or creating your own outdoor retreat. The property offers plenty of space, privacy, and the quiet charm of rural Tennessee while still providing quick access to major routes for an easy commute. A great opportunity for anyone seeking land, simplicity, and room to grow.

2. 2026-03-23
   status Pending

   Show marketing remark (482 chars)

   Enjoy peaceful country living just minutes from US-412. This well-kept 3-bedroom, 1-bath home sits on 1.5 acres, including approximately 1 acre of cultivable land—perfect for gardening, small-scale farming, or creating your own outdoor retreat. The property offers plenty of space, privacy, and the quiet charm of rural Tennessee while still providing quick access to major routes for an easy commute. A great opportunity for anyone seeking land, simplicity, and room to grow.

3. 2026-03-23
   status Pending 482-char remark

   Show marketing remark (482 chars)

   Enjoy peaceful country living just minutes from US-412. This well-kept 3-bedroom, 1-bath home sits on 1.5 acres, including approximately 1 acre of cultivable land—perfect for gardening, small-scale farming, or creating your own outdoor retreat. The property offers plenty of space, privacy, and the quiet charm of rural Tennessee while still providing quick access to major routes for an easy commute. A great opportunity for anyone seeking land, simplicity, and room to grow.

4. 2026-03-13
   price $110,000
5. 2026-03-12
   price $110,000 482-char remark

   Show marketing remark (482 chars)

   Enjoy peaceful country living just minutes from US-412. This well-kept 3-bedroom, 1-bath home sits on 1.5 acres, including approximately 1 acre of cultivable land—perfect for gardening, small-scale farming, or creating your own outdoor retreat. The property offers plenty of space, privacy, and the quiet charm of rural Tennessee while still providing quick access to major routes for an easy commute. A great opportunity for anyone seeking land, simplicity, and room to grow.

6. 2026-02-11
   price $115,000 482-char remark

   Show marketing remark (482 chars)

   Enjoy peaceful country living just minutes from US-412. This well-kept 3-bedroom, 1-bath home sits on 1.5 acres, including approximately 1 acre of cultivable land—perfect for gardening, small-scale farming, or creating your own outdoor retreat. The property offers plenty of space, privacy, and the quiet charm of rural Tennessee while still providing quick access to major routes for an easy commute. A great opportunity for anyone seeking land, simplicity, and room to grow.

7. 2026-02-11
   price $115,000

   Show marketing remark (482 chars)

   Enjoy peaceful country living just minutes from US-412. This well-kept 3-bedroom, 1-bath home sits on 1.5 acres, including approximately 1 acre of cultivable land—perfect for gardening, small-scale farming, or creating your own outdoor retreat. The property offers plenty of space, privacy, and the quiet charm of rural Tennessee while still providing quick access to major routes for an easy commute. A great opportunity for anyone seeking land, simplicity, and room to grow.

8. 2026-02-01
   listed $124,000 Active
9. 2026-01-31
   listed $124,000 Active 482-char remark

   Show marketing remark (482 chars)

   Enjoy peaceful country living just minutes from US-412. This well-kept 3-bedroom, 1-bath home sits on 1.5 acres, including approximately 1 acre of cultivable land—perfect for gardening, small-scale farming, or creating your own outdoor retreat. The property offers plenty of space, privacy, and the quiet charm of rural Tennessee while still providing quick access to major routes for an easy commute. A great opportunity for anyone seeking land, simplicity, and room to grow.

10. 2025-10-26
    price $119,900
11. 2025-08-19
    price $122,500
12. 2022-06-14
    soldstatus $95,000
13. 2022-06-08
    soldstatus $95,000 Closed
14. 2022-05-13
    status Pending
15. 2022-05-09
    historical CT Insp - Inspection Contingency
16. 2022-04-27
    listed $95,000 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: $368 · $31/mo
• Projected year-2 tax: $781 · $65/mo
• Expected delta: +$413/yr (+$34/mo · 112.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% 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: $11,469
• − Mortgage interest: −$6,162
• − Property taxes: −$368
• − Insurance: −$550
• − Repairs & maintenance: −$917
• − Management: −$917
• − Depreciation: −$3,200
• Taxable loss: −$646
• Est. tax savings @ 24.0%: +$155
• After-tax cash flow: $1,375/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: Crockett County
• NCES district ID: 4700850
• Math proficiency: 31% ▼ -10.00%
• Reading proficiency: 32% ▲ 3.00%
• Median HH income: $36,758
• Composite: 26.19/100
• National rank: #7266
• State rank: #48 of 139 in TN

Livability — Gates

• Score: 53/100
• State rank: #384
• US rank: #24258

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,689

Population outlook (Crockett County) Hauer SSP2

• Today (2025): 14,795 people
• By 2030: 14,812 · +0.1%
• By 2040: 14,811 · +0.1%
• By 2050: 14,809 · +0.1%
• By 2075: 15,405 · +4.1%
• By 2100: 16,200 · +9.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 13% Hispanic / Latino 7% Two or more races 4%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Serbian 2% Lithuanian 1% Portuguese 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Crockett

• 2024 margin: Solid R (+58.7) · D 20.2% · R 78.9%
• 2008→2024 swing: -25.2pp toward R · 2008: -33.6pp · 2024: -58.7pp
• All cycles: 2024: R+58.7 2020: R+53.8 2016: R+49.7 2012: R+38.4 2008: R+33.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.27%
• Current HPI: 255.205
• 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

+5.3% since first listed

16 events — show timeline

• 2026-05-05 Sold (MLS) $100,000 Memphis Area Association of Realtors(R) MLS
• 2026-03-23 Pending — CWTAR
• 2026-03-23 Pending — Memphis Area Association of Realtors(R) MLS
• 2026-03-13 Price Changed $110,000 CWTAR
• 2026-03-12 Price Changed $110,000 Memphis Area Association of Realtors(R) MLS
• 2026-02-11 Price Changed $115,000 Memphis Area Association of Realtors(R) MLS
• 2026-02-11 Price Changed $115,000 CWTAR
• 2026-02-01 Listed $124,000 CWTAR
• 2026-01-31 Listed $124,000 Memphis Area Association of Realtors(R) MLS
• 2025-10-26 Price Changed $119,900 Memphis Area Association of Realtors(R) MLS
• 2025-08-19 Price Changed $122,500 Memphis Area Association of Realtors(R) MLS
• 2022-06-14 Sold (Public Records) $95,000 Public Records
• 2022-06-08 Sold (MLS) $95,000 Memphis Area Association of Realtors(R) MLS
• 2022-05-13 Pending — Memphis Area Association of Realtors(R) MLS
• 2022-05-09 Contingent — Memphis Area Association of Realtors(R) MLS
• 2022-04-27 Listed $95,000 Memphis Area Association of Realtors(R) MLS

Property tax history

+6.0%/yr

Latest (2025): $368 · +13.2% YoY. Source: county tax records.