4728 Fred Jennings Rd

Walland, TN 37886

$199,950C

2 bd · 1.0 ba · 1,304 sqft · Built 1996 · SingleFamily · Pending · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,608/mo
• Mortgage (P&I): −$1,049
• Tax + insurance: −$139
• HOA: −$0
• Vac / Maint / Mgmt: −$338
• Net cashflow: $83/mo
• Annual: $995/yr
• Cap rate: 6.79%
• Cash-on-cash: 1.78%
• DSCR: 1.08
• 1% rule: 0.80%
• Cash to close: $55,986

Investor read

• This is a 2-bed/1.0-bath single-family listed at $200k.
• At list price, monthly cash flow is $83 ($995/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 $161k (19.6% below list).
• It's been on market 36 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $161k (19.6% below list) — sets the bar for 1% rule.
• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Location reads 59/100 on livability (#286 in TN) — a working-class tenant base; expect higher turnover. Strengths: housing A, cost of living A-; Watch: schools D, crime D, amenities F.
• Blount County (rural): math 29% / reading 31% proficiency, ranked #52 of 139 in TN (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 50 active listings in the ZIP; 937 units permitted in Blount County in 2024 (57 in 5+ unit buildings).
• Blount County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 15y 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.
• Current owner paid $11k; list at $200k implies a 1804% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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

• It's been on market 36 days. Have you received any prior offers? Is the seller open to a 20% 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.