197 Woodby Fridley Rd

Sweetwater, TN 37874

$359,900F

3 bd · 2.0 ba · 1,904 sqft · Built 2023 · Manufactured · Active · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,156/mo
• Mortgage (P&I): −$1,887
• Tax + insurance: −$244
• HOA: −$0
• Vac / Maint / Mgmt: −$453
• Net cashflow: $-428/mo
• Annual: $-5,138/yr
• Cap rate: 4.87%
• Cash-on-cash: -5.10%
• DSCR: 0.77
• 1% rule: 0.60%
• Cash to close: $100,772

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $360k.
• At list price, monthly cash flow is $-428 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $284k (21.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (40.1% below list).
• It's been on market 58 days — a 3% lower offer ($349k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $216k (40.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#134 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Sweetwater (rural): math 25% / reading 24% proficiency, ranked #94 of 139 in TN (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Sweetwater Primary School (556 students, 0% FRL); Sweetwater Jr High School (math 11% / reading 18%, grade F, #231 of 333 statewide, top 70%, 322 students, 0% FRL) — zoned schools average 0% FRL vs 61% district-wide (61 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 143 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 157 units permitted in Monroe County in 2024 (0 in 5+ unit buildings).
• Current owner paid $24k; list at $360k implies a 1431% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 58 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.
• 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.