208 & 210 Lee St St · Dyer, TN 38330

$45,000

2 bd · 1.0 ba · 1,910 sqft · MultiFamily · 207 Days on market

Built 1951 10,880 sqft lot ↓ 31% 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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.8/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Key facts

• 0.25 acre lot
• 2 parking spots
• Built 1951

Property features AI

Finance

• Financial info: Annual tax amount listed

Exterior

• Parking: 2 parking spaces
• Home design: Residential duplex
• Exterior features: Lot approximately 85 m x 128 m

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom on the main level
• Interior features: One-level living

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $45k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#234 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Gibson County Sp District (rural): math 47% / reading 39% proficiency, ranked #11 of 139 in TN (top 8%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 28 active listings in the ZIP; 155 units permitted in Gibson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($311 loan paydown + $710 appreciation (1.6% local appreciation)).
• Gibson County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.6% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 207 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• 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 $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 207 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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 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: 4.28% ✓
• Cap rate: 38.57%
• Cash-on-cash: 115.29%
• DSCR: 6.13
• GRM: 1.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.58% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.29×
• Total profit: $79,260
• Equity at exit: $16,733

10-year hold

• IRR: —
• Equity multiple: 15.17×
• Total profit: $178,492
• Equity at exit: $23,338

Cash invested: $12,600 (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 38330

• Home prices YoY: 0.9%
• Active inventory: 28
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,926 medium
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $1,211

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 32%

Sensitivity live

Price	-10% $1,242	-5% $1,226	+0% $1,211	+5% $1,195	+10% $1,179
Rent	-10% $1,058	-5% $1,134	+0% $1,211	+5% $1,287	+10% $1,363
Rate	-1.0pp $1,233	-0.5pp $1,222	base $1,211	+0.5pp $1,199	+1.0pp $1,187

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$1,926
Total (2 units)			$1,926

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $45,000 Active 207 DOM
2. 2026-06-18
   days on market $45,000 Active 205 DOM
3. 2026-06-17
   days on market $45,000 Active 204 DOM
4. 2026-06-16
   days on market $45,000 Active 203 DOM
5. 2026-06-15
   days on market $45,000 Active 202 DOM
6. 2026-06-13
   days on market $45,000 Active 200 DOM
7. 2026-06-12
   days on market $45,000 Active 199 DOM
8. 2026-06-09
   days on market $45,000 Active 196 DOM
9. 2026-06-08
   days on market $45,000 Active 195 DOM
10. 2026-06-08
    days on market $45,000 Active 194 DOM
11. 2026-06-07
    days on market $45,000 Active 193 DOM
12. 2026-06-03
    days on market $45,000 Active 190 DOM
13. 2026-06-02
    days on market $45,000 Active 189 DOM
14. 2026-06-01
    days on market $45,000 Active 188 DOM
15. 2026-05-31
    days on market $45,000 Active 187 DOM
16. 2026-04-24
    price $45,000
17. 2026-01-31
    status Active
18. 2026-01-31
    historical
19. 2026-01-10
    status Active
20. 2026-01-07
    price $55,000
21. 2025-09-13
    status Pending
22. 2025-07-29
    listed $65,000 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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $23,112
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,849
• − Management: −$1,849
• − Depreciation: −$1,309
• Taxable income: $14,684
• Est. tax owed @ 24.0%: −$3,524
• After-tax cash flow: $11,002/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: Gibson County Sp District
• NCES district ID: 4701400
• Math proficiency: 47% ▼ -13.00%
• Reading proficiency: 39% ▼ -5.00%
• Median HH income: $47,868
• Composite: 36.82/100
• National rank: #4565
• State rank: #11 of 139 in TN

Livability — Dyer

• Score: 62/100
• State rank: #234
• US rank: #17246

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dyer, TN
• Population (ZIP): 3,938

Population outlook (Gibson County) Hauer SSP2

• Today (2025): 48,793 people
• By 2030: 48,221 · -1.2%
• By 2040: 46,793 · -4.1%
• By 2050: 44,909 · -8.0%
• By 2075: 40,191 · -17.6%
• By 2100: 33,574 · -31.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 12% Two or more races 11% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Serbian 2% Lithuanian 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Gibson

• 2024 margin: Solid R (+52.0) · D 23.6% · R 75.5%
• 2008→2024 swing: -23.2pp toward R · 2008: -28.8pp · 2024: -52.0pp
• All cycles: 2024: R+52.0 2020: R+47.0 2016: R+43.8 2012: R+32.1 2008: R+28.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.58%
• Current HPI: 184.9194
• 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

-30.8% since first listed

7 events — show timeline

• 2026-04-24 Price Changed $45,000 CWTAR
• 2026-01-31 Relisted — CWTAR
• 2026-01-31 Delisted — CWTAR
• 2026-01-10 Relisted — CWTAR
• 2026-01-07 Price Changed $55,000 CWTAR
• 2025-09-13 Pending — CWTAR
• 2025-07-29 Listed $65,000 CWTAR