223 Sycamore St · Whiteville, TN 38075

$115,000

4 bd · 1.0 ba · 2,671 sqft · SingleFamily public records · 4 Days on market

Built 1931 0.38 ac lot

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Why this score? — see what drove the B 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Appreciation +8.7/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks

Own a piece of Whiteville history with this 1931 home. 223 Sycamore Street is walking distance from downtown. Located on a large corner lot with beautiful curb appeal! The current owners have put time and love into this gem, but it’s time for you to take it to the next level. With some TLC it can be restored or modernized. Updates include: Roof less than 5 years old, New ceilings in 2018, updated refrigerator and stove, updated breaker box, and water heater. No central heat and air (window A/C units, gas heaters and gas fireplace). This 4 bedroom and 1 full bathroom is a diamond in the rough, that's ready to shine again!! This home is not vacant, do not go on the property without a sh

Key facts

• Updated breaker box
• Large corner lot
• Water heater

Tags

• WALKING DISTANCE FROM DOWNTOWN
• LARGE CORNER LOT
• UPDATED REFRIGERATOR
• UPDATED STOVE
• UPDATED BREAKER BOX
• WATER HEATER

Property features AI

Finance

• Other: Property classified as residential, single family
• Financial info: No investor or rental income details provided
• HOA & community: No HOA information provided

Exterior

• Parking: Parking pad
• Security: No security features listed
• Utilities: Public water; Public sewer; Natural gas available; Water service available
• Home design: Single family residence; Two levels
• Construction: Vinyl siding and other construction materials; Foundation listed as other; Existing year built (exact year not provided)
• Exterior features: Back yard fence; Lot dimensions approximately 100 x 148; Lot size about 0.38 acres

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: 4 bedrooms total; 1 bedroom on the main level
• Flooring: Carpet; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Additional heating type listed as other; Cooling by ceiling fans and wall/window units
• Interior features: Refrigerator included; Electric oven and electric range; Ceiling fans; Wall/window cooling units
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $534 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).

Location & tenants

• Location reads 62/100 on livability (#220 in TN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, employment D, amenities F.
• Hardeman County Schools (rural): math 11% / reading 16% proficiency, ranked #133 of 139 in TN (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Whiteville Elementary (math 8% / reading 12%, grade F, #818 of 952 statewide, top 87%, 215 students, 0% FRL); Central High School (math 2% / reading 22%, grade F, #259 of 332 statewide, top 79%, 697 students, 0% FRL) — zoned schools average 0% FRL vs 73% district-wide (73 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 17 active listings in the ZIP; 43 units permitted in Hardeman County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($795 loan paydown + $8k appreciation (7.3% local appreciation)).
• Hardeman County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.3% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $35k; list at $115k implies a 229% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1931 — 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 $115,000

Questions for the listing agent

1. Built in 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.41% ✓
• Cap rate: 11.87%
• Cash-on-cash: 19.91%
• DSCR: 1.89
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $280,455
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
431 E Main St	0.22mi	3/2.5 (-1)	2,340 (-12%)	14mo	$245,000	$105	46

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

Projected returns pro-forma

7.33% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 34.5%
• Equity multiple: 3.38×
• Total profit: $76,537
• Equity at exit: $82,198

10-year hold

• IRR: 31.1%
• Equity multiple: 7.11×
• Total profit: $196,814
• Equity at exit: $158,465

Cash invested: $32,200 (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 38075

• Home prices YoY: 3.0%
• Active inventory: 17
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,627 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$100 /mo · $1,202/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $534

Break-even live

Break-even rent $951

Max offer price $115,000

Occupancy floor 62%

Sensitivity live

Price	-10% $599	-5% $567	+0% $534	+5% $502	+10% $469
Rent	-10% $406	-5% $470	+0% $534	+5% $598	+10% $663
Rate	-1.0pp $592	-0.5pp $563	base $534	+0.5pp $504	+1.0pp $474

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-21
   days on market $115,000 Active 4 DOM
2. 2026-06-18
   days on market $115,000 Active 2 DOM
3. 2026-06-17
   remarks 693-char remark
4. 2026-06-17
   listed $115,000 Active 1 DOM

ⓘ 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: $1,202 · $100/mo
• Projected year-2 tax: $1,202 · $100/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,525
• − Mortgage interest: −$6,442
• − Property taxes: −$1,202
• − Insurance: −$575
• − Repairs & maintenance: −$1,562
• − Management: −$1,562
• − Depreciation: −$3,345
• Taxable income: $4,837
• Est. tax owed @ 24.0%: −$1,161
• After-tax cash flow: $5,250/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: Hardeman County Schools
• NCES district ID: 4701650
• Math proficiency: 11% ▼ -11.00%
• Reading proficiency: 16% ▼ -6.00%
• Median HH income: $33,190
• Composite: 10.9/100
• National rank: #9754
• State rank: #133 of 139 in TN

Livability — Whiteville

• Score: 62/100
• State rank: #220
• US rank: #16575

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Whiteville, TN
• Population (ZIP): 6,857

Population outlook (Hardeman County) Hauer SSP2

• Today (2025): 23,629 people
• By 2030: 22,413 · -5.1%
• By 2040: 19,910 · -15.7%
• By 2050: 17,692 · -25.1%
• By 2075: 13,532 · -42.7%
• By 2100: 10,178 · -56.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 49% Black 43% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% Arabic 1%

Political lean MEDSL · Hardeman

• 2024 margin: Strong R (+24.1) · D 37.5% · R 61.6%
• 2008→2024 swing: -30.3pp toward R · 2008: 6.2pp · 2024: -24.1pp
• All cycles: 2024: R+24.1 2020: R+15.7 2016: R+8.0 2012: D+5.9 2008: D+6.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.33%
• Current HPI: 250.2705
• 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

+228.6% since first listed

4 events — show timeline

• 2026-06-16 Listed $115,000 REALTRACS as Distributed by MLS Grid
• 2024-09-04 Price Changed $139,000 Memphis Area Association of Realtors(R) MLS
• 2024-06-08 Price Changed $144,900 Memphis Area Association of Realtors(R) MLS
• 2018-09-19 Sold (Public Records) $35,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $1,202 · +43.6% YoY. Source: county tax records.