79 Evans Ln · Spencer, TN 38585

$149,900

3 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 23 Days on market

Built 1980 1.77 ac lot

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Why this score? — see what drove the D 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 +11.9/30.0
• ARV discount +7.5/15.0
• Appreciation +6.4/10.0
• DSCR +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Schools +2.0/10.0

Listing remarks MLS

1,200 SQ FT HOME ON 1.77 ACRES Possible 3-bedroom, 1-bath, one-owner home containing approximately 1,200 square feet, situated on 1.77 unrestricted acres in Spencer, Tennessee. The property includes two stall spaces and offers a rural setting with usable acreage. It is located just minutes from Fall Creek Falls State Park, approximately 30 minutes from Sparta, 40 minutes from McMinnville, under one hour to Cookeville, and about 30 minutes from Pikeville in Bledsoe County. The home was appraised in early 2026 for over $140,000. No septic records are currently on file. New water heater. With its proximity to Fall Creek Falls, the property is great for use as a primary residence, short-term rental, long-term rental, or first-time home purchase. The location also offers reasonable drive times for those employed in nearby towns while maintaining a rural setting.

Key facts

• 1.77 acre lot
• 2 parking spots
• Built 1980

Property features AI

Exterior

• Parking: Detached covered parking; 2 covered parking spaces; 2-car carport
• Utilities: Private water; Septic; Electric service available
• Home design: Single-family residence; One story; Residential property
• Construction: Vinyl siding exterior; Crawl space foundation; Existing structure (year built details: existing)
• Exterior features: Private water source; Septic tank; Electricity available; Water available; Lot approximately 1.77 acres

Interior

• Kitchen: Built-in electric oven; Cooktop; Dishwasher; Microwave
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Built-in electric oven; Cooktop; Dishwasher; Microwave

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-38 ($-453/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (4.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (28.3% below list).
• Recommended offer: $107k (28.3% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 2.5% in Spencer — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 67/100 on livability (#99 in TN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Van Buren County (rural): math 28% / reading 21% proficiency, ranked #96 of 139 in TN (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Spencer Elementary (math 32% / reading 27%, grade F, #423 of 952 statewide, top 48%, 394 students, 0% FRL); Van Buren Co High School (math 25% / reading 18%, grade F, #172 of 332 statewide, top 52%, 400 students, 0% FRL) — zoned schools average 0% FRL vs 52% district-wide (52 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 181 active listings in the ZIP; 8 units permitted in Van Buren County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (2.8% local appreciation)).
• Van Buren County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $72k; list at $150k implies a 107% gain — meaningful room to come down on a strong offer.

Recommended offer $107,492 (28.3% below list)

Questions for the listing agent

1. 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?
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. 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?
5. 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.
6. 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.
7. 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: 0.72% ✗
• Cap rate: 5.99%
• Cash-on-cash: -1.08%
• DSCR: 0.95
• GRM: 11.6

CMA / ARV

• ARV (on-the-fly): $79,200
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
79 Evans Ln	0.00mi	3/1.0	1,200 (0%)	2mo	$79,750	$66	98

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

Projected returns pro-forma

2.77% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.8%
• Equity multiple: 1.33×
• Total profit: $13,795
• Equity at exit: $65,507

10-year hold

• IRR: 8.8%
• Equity multiple: 2.30×
• Total profit: $54,635
• Equity at exit: $99,505

Cash invested: $41,972 (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 38585

• Home prices YoY: 0.7%
• Active inventory: 181
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,075 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$38 /mo · $461/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $-38

Break-even live

Break-even rent $1,123

Max offer price $143,226

Occupancy floor 99%

Sensitivity live

Price	-10% $47	-5% $5	+0% $-38	+5% $-80	+10% $-123
Rent	-10% $-123	-5% $-80	+0% $-38	+5% $5	+10% $47
Rate	-1.0pp $38	-0.5pp $0	base $-38	+0.5pp $-77	+1.0pp $-116

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-22
   days on market $149,900 Active 23 DOM
2. 2026-06-21
   days on market $149,900 Active 22 DOM
3. 2026-06-19
   days on market $149,900 Active 20 DOM
4. 2026-06-18
   days on market $149,900 Active 19 DOM
5. 2026-06-17
   days on market $149,900 Active 18 DOM
6. 2026-06-16
   days on market $149,900 Active 17 DOM
7. 2026-06-15
   days on market $149,900 Active 16 DOM
8. 2026-06-14
   days on market $149,900 Active 14 DOM
9. 2026-06-12
   days on market $149,900 Active 13 DOM
10. 2026-06-09
    days on market $149,900 Active 10 DOM
11. 2026-06-08
    days on market $149,900 Active 9 DOM
12. 2026-06-07
    days on market $149,900 Active 8 DOM
13. 2026-06-05
    days on market $149,900 Active 5 DOM
14. 2026-06-03
    days on market $149,900 Active 4 DOM
15. 2026-06-02
    days on market $149,900 Active 3 DOM
16. 2026-06-01
    days on market $149,900 Active 2 DOM
17. 2026-05-31
    statusdays on market $149,900 Active 1 DOM
18. 2026-05-30
    days on market $149,900 Coming Soon 2 DOM
19. 2026-05-28
    historical $149,900
20. 2026-04-13
    soldstatus $72,500
21. 2026-04-10
    soldstatus $79,750 Closed 869-char remark

    Show marketing remark (869 chars)

    1,200 SQ FT HOME ON 1.77 ACRES Possible 3-bedroom, 1-bath, one-owner home containing approximately 1,200 square feet, situated on 1.77 unrestricted acres in Spencer, Tennessee. The property includes two stall spaces and offers a rural setting with usable acreage. It is located just minutes from Fall Creek Falls State Park, approximately 30 minutes from Sparta, 40 minutes from McMinnville, under one hour to Cookeville, and about 30 minutes from Pikeville in Bledsoe County. The home was appraised in early 2026 for over $140,000. No septic records are currently on file. New water heater. With its proximity to Fall Creek Falls, the property is great for use as a primary residence, short-term rental, long-term rental, or first-time home purchase. The location also offers reasonable drive times for those employed in nearby towns while maintaining a rural setting.

22. 2026-04-08
    status Pending 869-char remark

    Show marketing remark (869 chars)

    1,200 SQ FT HOME ON 1.77 ACRES Possible 3-bedroom, 1-bath, one-owner home containing approximately 1,200 square feet, situated on 1.77 unrestricted acres in Spencer, Tennessee. The property includes two stall spaces and offers a rural setting with usable acreage. It is located just minutes from Fall Creek Falls State Park, approximately 30 minutes from Sparta, 40 minutes from McMinnville, under one hour to Cookeville, and about 30 minutes from Pikeville in Bledsoe County. The home was appraised in early 2026 for over $140,000. No septic records are currently on file. New water heater. With its proximity to Fall Creek Falls, the property is great for use as a primary residence, short-term rental, long-term rental, or first-time home purchase. The location also offers reasonable drive times for those employed in nearby towns while maintaining a rural setting.

23. 2026-04-05
    historical 869-char remark

    Show marketing remark (869 chars)

    1,200 SQ FT HOME ON 1.77 ACRES Possible 3-bedroom, 1-bath, one-owner home containing approximately 1,200 square feet, situated on 1.77 unrestricted acres in Spencer, Tennessee. The property includes two stall spaces and offers a rural setting with usable acreage. It is located just minutes from Fall Creek Falls State Park, approximately 30 minutes from Sparta, 40 minutes from McMinnville, under one hour to Cookeville, and about 30 minutes from Pikeville in Bledsoe County. The home was appraised in early 2026 for over $140,000. No septic records are currently on file. New water heater. With its proximity to Fall Creek Falls, the property is great for use as a primary residence, short-term rental, long-term rental, or first-time home purchase. The location also offers reasonable drive times for those employed in nearby towns while maintaining a rural setting.

24. 2026-03-11
    listed Active 869-char remark

    Show marketing remark (869 chars)

    1,200 SQ FT HOME ON 1.77 ACRES Possible 3-bedroom, 1-bath, one-owner home containing approximately 1,200 square feet, situated on 1.77 unrestricted acres in Spencer, Tennessee. The property includes two stall spaces and offers a rural setting with usable acreage. It is located just minutes from Fall Creek Falls State Park, approximately 30 minutes from Sparta, 40 minutes from McMinnville, under one hour to Cookeville, and about 30 minutes from Pikeville in Bledsoe County. The home was appraised in early 2026 for over $140,000. No septic records are currently on file. New water heater. With its proximity to Fall Creek Falls, the property is great for use as a primary residence, short-term rental, long-term rental, or first-time home purchase. The location also offers reasonable drive times for those employed in nearby towns while maintaining a rural setting.

25. 2026-02-23
    historical
26. 2025-12-20
    historical Active Under Contract
27. 2025-10-21
    listed $149,900 Active

ⓘ 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: $461 · $38/mo
• Projected year-2 tax: $1,064 · $89/mo
• Expected delta: +$603/yr (+$50/mo · 130.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,899
• − Mortgage interest: −$8,397
• − Property taxes: −$461
• − Insurance: −$750
• − Repairs & maintenance: −$1,032
• − Management: −$1,032
• − Depreciation: −$4,361
• Taxable loss: −$3,133
• Est. tax savings @ 24.0%: +$752
• After-tax cash flow: $299/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: Van Buren County
• NCES district ID: 4704320
• Math proficiency: 28% ▼ -12.00%
• Reading proficiency: 21% ▼ -9.00%
• Median HH income: $35,459
• Composite: 20.29/100
• National rank: #8617
• State rank: #96 of 139 in TN

Livability — Spencer

• Score: 67/100
• State rank: #99
• US rank: #10391

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

• Population (ZIP): 4,550

Population outlook (Van Buren County) Hauer SSP2

• Today (2025): 5,883 people
• By 2030: 5,925 · +0.7%
• By 2040: 5,877 · -0.1%
• By 2050: 5,706 · -3.0%
• By 2075: 5,162 · -12.3%
• By 2100: 4,450 · -24.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 5%
• Common ancestry: Serbian 4% Slovak 2% Italian 1%
• Foreign-born: 0%
• Languages at home: 93% English-only · German/W. Germanic 7%

Political lean MEDSL · Van Buren

• 2024 margin: Solid R (+67.2) · D 16.1% · R 83.2%
• 2008→2024 swing: -46.8pp toward R · 2008: -20.4pp · 2024: -67.2pp
• All cycles: 2024: R+67.2 2020: R+61.6 2016: R+53.0 2012: R+22.1 2008: R+20.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.77%
• Current HPI: 382.7379
• 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

+0.0% since first listed

9 events — show timeline

• 2026-05-28 Coming Soon $149,900 REALTRACS as Distributed by MLS Grid
• 2026-04-13 Sold (Public Records) $72,500 Public Records
• 2026-04-10 Sold (MLS) $79,750 REALTRACS as Distributed by MLS Grid
• 2026-04-08 Pending — REALTRACS as Distributed by MLS Grid
• 2026-04-05 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2026-03-11 Listed — REALTRACS as Distributed by MLS Grid
• 2026-02-23 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2025-12-20 Contingent — REALTRACS as Distributed by MLS Grid
• 2025-10-21 Listed $149,900 REALTRACS as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2025): $461 · +0.0% YoY. Source: county tax records.