47 Blue Berry Dr · Pikeville, TN 37367

$270,900

2 bd · 1.0 ba · 1,092 sqft · SingleFamily public records · 354 Days on market

Built 1987 6.00 ac lot $248/sqft · at area comps Est $275k · at est. ↓ 5% since listing

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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 +15.1/30.0
• Appreciation +10.0/10.0
• ARV discount +8.2/15.0
• DSCR +4.6/10.0
• 1% rule +4.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks MLS

Do you want- MORE LAND for less money! And the price just dropped again! The seller is offering this home with 4+/- acres of additional land than before, and he went down on the overall price! 6+/- acres of wooded land. An additional 5 acres are available behind this property by another seller. A house that has been stripped down to the studs by the seller; a licensed contractor, and a close neighbor, and he would love to build the home back for the buyers, if they so wish. He says he can add an en-suite and laundry/mud room and finish the house to contractor grade for an additional (80K) or the buyer can go their own direction, Buyer's Choice. The property is located on the Cumberland Plateau at the top of Big Spring Gap Road, an old wagon trail and part of the Trail of Tears, but it's a county road now, and so is Blue Berry Rd. & Dr. The land has a slightly sloping newly grated, planted and established yard, with large deciduous trees, and it has 6+/- total acres of land for privacy and hunting. You can see the one other neighbor and the county road through the trees, from the half wrap around porch. Hurry and make your offer to become an active participant in the building of your home in such a pretty location, and good neighborhood. The newly added 4 acres is up the hill behind the house and is wooded with what appears to be marketable timber. It is all part of the original parcel on the tax map. * Call listing agent for more info and explanation of the changes, or to make an appointment to view. A Conventional/ Construction loan or Cash will be necessary to purchase. Not on Broker Bay.

Key facts

• Wrap around porch
• Laundry mud room
• Master ensuite

Tags

• ESTABLISHED YARD
• LARGE DECIDUOUS TREES
• FOREST SURROUNDING
• WRAP AROUND PORCH
• MASTER ENSUITE
• LAUNDRY MUD ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $271k.

Deal economics

• At list price, monthly cash flow is $88 ($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 $248k (8.4% below list).
• Recommended offer: $238k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 4.8% in Pikeville — 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 59/100 on livability (#296 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing B+; Watch: health & safety C-, schools F, amenities F.
• Bledsoe County (rural): math 19% / reading 27% proficiency, ranked #104 of 139 in TN (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 155 active listings in the ZIP.
• At $2,481/mo this rent would consume 54% of the median local household income ($55k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $29k of equity ($2k loan paydown + $27k appreciation (10.0% local appreciation)).
• Bledsoe County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $76k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 354 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $238,392 (12.0% below list)

Questions for the listing agent

1. It's been on market 354 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 0.92% ✗
• Cap rate: 6.68%
• Cash-on-cash: 1.39%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

• ARV (median comp): $274,956
• List price: $270,900
• Delta: -1.48%
• Verdict: FAIR
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 25.3%
• Equity multiple: 3.02×
• Total profit: $153,168
• Equity at exit: $244,048

10-year hold

• IRR: 22.3%
• Equity multiple: 6.89×
• Total profit: $446,732
• Equity at exit: $526,299

Cash invested: $75,852 (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 37367

• Home prices YoY: 34.5%
• Active inventory: 155
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,481 medium
• Mortgage (P&I): −$1,421
• Tax est. 1.5%: −$339 /mo · $4,064/yr
• Insurance: −$113
• HOA: −$0
• Vacancy / Maint / Mgmt: −$521
• Net cashflow: $88

Break-even live

Break-even rent $2,370

Max offer price $270,900

Occupancy floor 91%

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: $67,725
• Closing costs: $8,127
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-10
   days on market $270,900 Active 354 DOM
2. 2026-06-09
   days on market $270,900 Active 353 DOM
3. 2026-06-08
   days on market $270,900 Active 352 DOM
4. 2026-06-07
   days on market $270,900 Active 351 DOM
5. 2026-06-03
   days on market $270,900 Active 347 DOM
6. 2026-06-02
   days on market $270,900 Active 346 DOM
7. 2026-06-01
   days on market $270,900 Active 345 DOM
8. 2026-05-31
   days on market $270,900 Active 344 DOM
9. 2026-05-30
   days on market $270,900 Active 343 DOM
10. 2026-03-26
    price $270,900 1623-char remark

    Show marketing remark (1623 chars)

    Do you want- MORE LAND for less money! And the price just dropped again! The seller is offering this home with 4+/- acres of additional land than before, and he went down on the overall price! 6+/- acres of wooded land. An additional 5 acres are available behind this property by another seller. A house that has been stripped down to the studs by the seller; a licensed contractor, and a close neighbor, and he would love to build the home back for the buyers, if they so wish. He says he can add an en-suite and laundry/mud room and finish the house to contractor grade for an additional (80K) or the buyer can go their own direction, Buyer's Choice. The property is located on the Cumberland Plateau at the top of Big Spring Gap Road, an old wagon trail and part of the Trail of Tears, but it's a county road now, and so is Blue Berry Rd. & Dr. The land has a slightly sloping newly grated, planted and established yard, with large deciduous trees, and it has 6+/- total acres of land for privacy and hunting. You can see the one other neighbor and the county road through the trees, from the half wrap around porch. Hurry and make your offer to become an active participant in the building of your home in such a pretty location, and good neighborhood. The newly added 4 acres is up the hill behind the house and is wooded with what appears to be marketable timber. It is all part of the original parcel on the tax map. * Call listing agent for more info and explanation of the changes, or to make an appointment to view. A Conventional/ Construction loan or Cash will be necessary to purchase. Not on Broker Bay.

11. 2026-02-03
    price $274,900 1623-char remark

    Show marketing remark (1623 chars)

    Do you want- MORE LAND for less money! And the price just dropped again! The seller is offering this home with 4+/- acres of additional land than before, and he went down on the overall price! 6+/- acres of wooded land. An additional 5 acres are available behind this property by another seller. A house that has been stripped down to the studs by the seller; a licensed contractor, and a close neighbor, and he would love to build the home back for the buyers, if they so wish. He says he can add an en-suite and laundry/mud room and finish the house to contractor grade for an additional (80K) or the buyer can go their own direction, Buyer's Choice. The property is located on the Cumberland Plateau at the top of Big Spring Gap Road, an old wagon trail and part of the Trail of Tears, but it's a county road now, and so is Blue Berry Rd. & Dr. The land has a slightly sloping newly grated, planted and established yard, with large deciduous trees, and it has 6+/- total acres of land for privacy and hunting. You can see the one other neighbor and the county road through the trees, from the half wrap around porch. Hurry and make your offer to become an active participant in the building of your home in such a pretty location, and good neighborhood. The newly added 4 acres is up the hill behind the house and is wooded with what appears to be marketable timber. It is all part of the original parcel on the tax map. * Call listing agent for more info and explanation of the changes, or to make an appointment to view. A Conventional/ Construction loan or Cash will be necessary to purchase. Not on Broker Bay.

12. 2025-06-19
    listed $285,000 Active 1623-char remark

    Show marketing remark (1623 chars)

    Do you want- MORE LAND for less money! And the price just dropped again! The seller is offering this home with 4+/- acres of additional land than before, and he went down on the overall price! 6+/- acres of wooded land. An additional 5 acres are available behind this property by another seller. A house that has been stripped down to the studs by the seller; a licensed contractor, and a close neighbor, and he would love to build the home back for the buyers, if they so wish. He says he can add an en-suite and laundry/mud room and finish the house to contractor grade for an additional (80K) or the buyer can go their own direction, Buyer's Choice. The property is located on the Cumberland Plateau at the top of Big Spring Gap Road, an old wagon trail and part of the Trail of Tears, but it's a county road now, and so is Blue Berry Rd. & Dr. The land has a slightly sloping newly grated, planted and established yard, with large deciduous trees, and it has 6+/- total acres of land for privacy and hunting. You can see the one other neighbor and the county road through the trees, from the half wrap around porch. Hurry and make your offer to become an active participant in the building of your home in such a pretty location, and good neighborhood. The newly added 4 acres is up the hill behind the house and is wooded with what appears to be marketable timber. It is all part of the original parcel on the tax map. * Call listing agent for more info and explanation of the changes, or to make an appointment to view. A Conventional/ Construction loan or Cash will be necessary to purchase. Not on Broker Bay.

ⓘ 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 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,771
• − Mortgage interest: −$15,175
• − Property taxes: −$4,064
• − Insurance: −$1,354
• − Repairs & maintenance: −$2,382
• − Management: −$2,382
• − Depreciation: −$7,881
• Taxable loss: −$3,466
• Est. tax savings @ 24.0%: +$832
• After-tax cash flow: $1,885/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: Bledsoe County
• NCES district ID: 4700270
• Math proficiency: 19% ▼ -13.00%
• Reading proficiency: 27% ▼ -1.00%
• Median HH income: $35,901
• Composite: 19.02/100
• National rank: #8845
• State rank: #104 of 139 in TN

Livability — Pikeville

• Score: 59/100
• State rank: #296
• US rank: #20539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Bledsoe · 11,736 people
• Population (ZIP): 11,736
• Household income: $54,696
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 2.1

Population outlook (Bledsoe County) Hauer SSP2

• Today (2025): 18,085 people
• By 2030: 19,649 · +8.6%
• By 2040: 22,438 · +24.1%
• By 2050: 24,582 · +35.9%
• By 2075: 26,769 · +48.0%
• By 2100: 25,033 · +38.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Italian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Bledsoe

• 2024 margin: Solid R (+70.5) · D 14.4% · R 84.9%
• 2008→2024 swing: -36.0pp toward R · 2008: -34.5pp · 2024: -70.5pp
• All cycles: 2024: R+70.5 2020: R+65.2 2016: R+58.6 2012: R+40.3 2008: R+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 106.44%
• Current HPI: 415.344
• 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

-4.9% since first listed

3 events — show timeline

• 2026-03-26 Price Changed $270,900 GCAR
• 2026-02-03 Price Changed $274,900 GCAR
• 2025-06-19 Listed $285,000 GCAR

Property tax history

-0.3%/yr

Latest (2025): $408 · +0.0% YoY. Source: county tax records.