241 Lomax Ave · Waverly, TN 37185

$52,900

2 bd · 1.0 ba · 984 sqft · SingleFamily public records · 11 Days on market

Built 1965 3.65 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Appreciation +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks

This house is in need of a complete remodel, including a new roof. The back part of the roof has collapsed and has fallen in one of the bedrooms. This is definately a fixer upper. The house has been in the same family for many years and has been unoccupied for a long time with no maintenance done at all. Included in this sale is the house & lot along with a 3.2 acres that is located behind the house.

Key facts

• 3.65 acre lot
• 5 parking spots
• Built 1965

Property features AI

Exterior

• Parking: Attached parking; Driveway; Carport (1 space); Total 5 parking spaces (4 open, 1 covered)
• Utilities: Public water; Public sewer; Water available
• Home design: Single family residence; One story; Residential property
• Construction: Brick, frame, and wood siding construction; Shingle roof; Block foundation; Built approximately (year approximate)
• Exterior features: Corner lot; Level lot; Wooded lot

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Wood flooring; Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Eat-in kitchen; Crawl space basement
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $53k.

Deal economics

• At list price, monthly cash flow is $537 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $53k).
• Cap rate 20.0% vs local median 2.8% in Waverly — 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 62/100 on livability (#209 in TN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: amenities F, commute F, employment 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.
• Market conditions: 155 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 39 units permitted in Humphreys County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $366 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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 $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• 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.

Recommended offer $52,900

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.33% ✓
• Cap rate: 19.98%
• Cash-on-cash: 48.88%
• DSCR: 3.17
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $160,392
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
217 Lomax Ave	0.13mi	2/1.0	941 (-4%)	11mo	$78,375	$83	77
409 E Railroad St	0.54mi	3/1.0 (+1)	1,000 (+2%)	9mo	$109,000	$109	60
206 Joe St	0.60mi	2/1.0	904 (-8%)	1mo	$165,000	$183	57
203 E Wyly St	0.51mi	2/1.0	1,080 (+10%)	10mo	$164,000	$152	51
204 1/2 Carroll Ave	0.62mi	2/1.0	1,044 (+6%)	14mo	$170,000	$163	50
2041/2 Carroll Ave	0.62mi	2/1.0	1,044 (+6%)	14mo	$170,000	$163	50
203 N Clydeton Rd N	0.71mi	3/2.0 (+1)	1,080 (+10%)	1mo	$179,000	$166	41
117 Oak Ridge Dr	0.68mi	2/2.0	893 (-9%)	15mo	$195,000	$218	36
114 Joe St	0.54mi	3/1.0 (+1)	1,107 (+12%)	24mo	$175,000	$158	29

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

Projected returns pro-forma

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

5-year hold

• IRR: 40.4%
• Equity multiple: 2.73×
• Total profit: $25,683
• Equity at exit: $7,888

10-year hold

• IRR: 46.7%
• Equity multiple: 5.50×
• Total profit: $66,643
• Equity at exit: $4,574

Cash invested: $14,812 (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 37185

• Home prices YoY: -1.3%
• Active inventory: 155
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,231 medium
• Mortgage (P&I): −$277
• Tax from tax record: −$70 /mo · $834/yr
• Insurance: −$22
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $537

Break-even live

Break-even rent $551

Max offer price $52,900

Occupancy floor 51%

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: $13,225
• Closing costs: $1,587
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
122 Tank Hill Rd Unit B Waverly, TN	2.0	2.5	1006	$1,250	$1.24	1d	1	0.18mi
311 E Commerce St Unit A Waverly, TN	1.0	1.0	640	$1,150	$1.80	43d	1	0.51mi

Listing history 9 events

1. 2026-06-16
   status $52,900 Pending 11 DOM
2. 2026-06-15
   days on market $52,900 Active 11 DOM
3. 2026-06-13
   days on market $52,900 Active 9 DOM
4. 2026-06-13
   days on market $52,900 Active 8 DOM
5. 2026-06-09
   days on market $52,900 Active 5 DOM
6. 2026-06-08
   days on market $52,900 Active 4 DOM
7. 2026-06-07
   statusdays on market $52,900 Active 3 DOM
8. 2026-06-03
   remarks 405-char remark
9. 2026-06-03
   listed $52,900 Coming Soon 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: $834 · $70/mo
• Projected year-2 tax: $834 · $70/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°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: $14,769
• − Mortgage interest: −$2,963
• − Property taxes: −$834
• − Insurance: −$1,062
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$1,539
• Taxable income: $6,008
• Est. tax owed @ 24.0%: −$1,442
• After-tax cash flow: $5,001/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: Humphreys County
• NCES district ID: 4701980
• Math proficiency: 21% ▼ -14.00%
• Reading proficiency: 24% ▼ -9.00%
• Median HH income: $41,248
• Composite: 19.14/100
• National rank: #8829
• State rank: #103 of 139 in TN

Livability — Waverly

• Score: 62/100
• State rank: #209
• US rank: #16116

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waverly, TN
• Population (ZIP): 9,120

Population outlook (Humphreys County) Hauer SSP2

• Today (2025): 17,256 people
• By 2030: 16,654 · -3.5%
• By 2040: 15,437 · -10.5%
• By 2050: 14,238 · -17.5%
• By 2075: 11,971 · -30.6%
• By 2100: 10,575 · -38.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Black 3% Hispanic / Latino 3%
• Common ancestry: Slovak 4% Romanian 2% English 1%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Humphreys

• 2024 margin: Solid R (+56.1) · D 21.4% · R 77.4% · Other 1.2%
• 2008→2024 swing: -53.2pp toward R · 2008: -2.9pp · 2024: -56.1pp
• All cycles: 2024: R+56.1 2020: R+49.8 2016: R+41.5 2012: R+13.5 2008: R+2.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.36%
• Current HPI: 335.9664
• 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

1 event — show timeline

• 2026-06-02 Coming Soon $52,900 REALTRACS as Distributed by MLS Grid

Property tax history

+8.8%/yr

Latest (2025): $834 · -0.4% YoY. Source: county tax records.