51 Sycamore Landing Rd

New Johnsonville, TN 37185

$91,000B+

3 bd · 1.0 ba · 952 sqft · Built 1948 · SingleFamily · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,334/mo
• Mortgage (P&I): −$477
• Tax + insurance: −$132
• HOA: −$0
• Vac / Maint / Mgmt: −$280
• Net cashflow: $445/mo
• Annual: $5,335/yr
• Cap rate: 13.03%
• Cash-on-cash: 24.07%
• DSCR: 2.07
• 1% rule: 1.47%
• Cash to close: $25,480

Investor read

• This is a 3-bed/1.0-bath single-family listed at $91k.
• At list price, monthly cash flow is $445 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $91k).
• It's been on market 24 days — a 2% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $90k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $629 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#151 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety F.
• Humphreys County (rural): math 21% / reading 24% proficiency, ranked #103 of 139 in TN (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Waverly Elementary (math 47% / reading 37%, grade F, #191 of 952 statewide, top 22%, 359 students, 0% FRL); Waverly Central High School (math 8% / reading 37%, grade F, #156 of 332 statewide, top 49%, 503 students, 0% FRL) — zoned schools average 0% FRL vs 49% district-wide (49 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $66/mo; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 155 active listings in the ZIP; 39 units permitted in Humphreys County in 2024 (0 in 5+ unit buildings).
• Humphreys County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood 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

• Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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.