118 Oakwood Rd · Hohenwald, TN 38462

$79,500

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 79 Days on market

Built 2000 0.50 ac lot $65/sqft · 54% below area

---

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 +9.4/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bed, 2 bath single wide home situated on a flat 0.5 acre lot on a quiet dead-end road in Hohenwald. Offering approximately 1,200 sq ft, this 2000 model home provides a great opportunity for a starter home or investment property. The HVAC, plumbing for the bathroom faucets will need attention and toilets will need to be replaced. Shed does not convey. Being sold as-is.

Key facts

• 0.5 acre lot
• Built 2000
• Listed 79 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $355 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.7% vs local median 2.2% in Hohenwald — 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 66/100 on livability (#124 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: schools F, amenities F, commute F.
• Lewis County (town): math 33% / reading 30% proficiency, ranked #50 of 139 in TN (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 133 active listings in the ZIP; 23 units permitted in Lewis County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $550 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lewis County population projected at -22% 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 $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $44k; list at $80k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire 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 $74,730 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.44% ✓
• Cap rate: 11.65%
• Cash-on-cash: 19.14%
• DSCR: 1.85
• GRM: 5.8

CMA / ARV

• ARV (median comp): $171,000
• List price: $79,500
• Delta: -53.51%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
178 Reeves Rd	0.10mi	3/2.0	1,064 (-12%)	10mo	$228,500	$215	66

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: 11.1%
• Equity multiple: 1.44×
• Total profit: $9,753
• Equity at exit: $11,854

10-year hold

• IRR: 20.1%
• Equity multiple: 2.69×
• Total profit: $37,688
• Equity at exit: $6,874

Cash invested: $22,260 (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 38462

• Home prices YoY: -10.5%
• Active inventory: 133
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,145 medium
• Mortgage (P&I): −$417
• Tax est. 1.5%: −$99 /mo · $1,192/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $355

Break-even live

Break-even rent $695

Max offer price $79,500

Occupancy floor 64%

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: $19,875
• Closing costs: $2,385
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $79,500 Active 79 DOM
2. 2026-06-17
   days on market $79,500 Active 78 DOM
3. 2026-06-16
   days on market $79,500 Active 77 DOM
4. 2026-06-15
   days on market $79,500 Active 76 DOM
5. 2026-06-13
   days on market $79,500 Active 74 DOM
6. 2026-06-12
   days on market $79,500 Active 73 DOM
7. 2026-06-09
   days on market $79,500 Active 70 DOM
8. 2026-06-08
   days on market $79,500 Active 69 DOM
9. 2026-06-08
   days on market $79,500 Active 68 DOM
10. 2026-06-07
    days on market $79,500 Active 67 DOM
11. 2026-06-03
    days on market $79,500 Active 64 DOM
12. 2026-06-02
    days on market $79,500 Active 63 DOM
13. 2026-06-01
    days on market $79,500 Active 62 DOM
14. 2026-05-31
    days on market $79,500 Active 61 DOM
15. 2026-03-31
    listed $79,500 Active 372-char remark

    Show marketing remark (372 chars)

    3 bed, 2 bath single wide home situated on a flat 0.5 acre lot on a quiet dead-end road in Hohenwald. Offering approximately 1,200 sq ft, this 2000 model home provides a great opportunity for a starter home or investment property. The HVAC, plumbing for the bathroom faucets will need attention and toilets will need to be replaced. Shed does not convey. Being sold as-is.

16. 2002-01-22
    soldstatus $43,900

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $13,740
• − Mortgage interest: −$4,453
• − Property taxes: −$1,192
• − Insurance: −$398
• − Repairs & maintenance: −$1,099
• − Management: −$1,099
• − Depreciation: −$2,313
• Taxable income: $3,185
• Est. tax owed @ 24.0%: −$765
• After-tax cash flow: $3,497/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: Lewis County
• NCES district ID: 4702430
• Math proficiency: 33% ▼ -1.00%
• Reading proficiency: 30% ▼ -3.00%
• Median HH income: $35,002
• Composite: 26.03/100
• National rank: #7310
• State rank: #50 of 139 in TN

Livability — Hohenwald

• Score: 66/100
• State rank: #124
• US rank: #11807

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,268

Population outlook (Lewis County) Hauer SSP2

• Today (2025): 11,217 people
• By 2030: 10,742 · -4.2%
• By 2040: 9,694 · -13.6%
• By 2050: 8,707 · -22.4%
• By 2075: 7,069 · -37.0%
• By 2100: 6,038 · -46.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 2% Asian 1%
• Common ancestry: Italian 3% Lithuanian 2% Serbian 2%
• Foreign-born: 1% · Canada, China
• Languages at home: 98% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Lewis

• 2024 margin: Solid R (+65.5) · D 16.8% · R 82.4%
• 2008→2024 swing: -41.8pp toward R · 2008: -23.7pp · 2024: -65.5pp
• All cycles: 2024: R+65.5 2020: R+60.6 2016: R+58.5 2012: R+35.6 2008: R+23.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.98%
• Current HPI: 333.7757
• 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

+81.1% since first listed

2 events — show timeline

• 2026-03-31 Listed $79,500 REALTRACS as Distributed by MLS Grid
• 2002-01-22 Sold (Public Records) $43,900 Public Records

Property tax history

-5.3%/yr

Latest (2025): $88 · -17.0% YoY. Source: county tax records.