614 E Church St

Kenton, TN 38233

$15,000D+

1 bd · 1.0 ba · 240 sqft · Built 2005 · SingleFamily · Pending · 320 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $810/mo
• Mortgage (P&I): −$79
• Tax + insurance: −$146
• HOA: −$0
• Vac / Maint / Mgmt: −$170
• Net cashflow: $416/mo
• Annual: $4,990/yr
• Cap rate: 49.58%
• Cash-on-cash: 154.58%
• DSCR: 7.88
• 1% rule: 5.40%
• Cash to close: $4,200

Investor read

• This is a 1-bed/1.0-bath single-family listed at $15k.
• At list price, monthly cash flow is $416 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($810 rent vs $15k).
• It's been on market 320 days — a 12% lower offer ($13k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $13k (12.0% below list) — sets the bar for market timing.
• In year one you build about $193 of equity ($104 loan paydown + $89 appreciation (0.6% local appreciation)).
• Location reads 58/100 on livability (#309 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B; Watch: health & safety C-, employment D, amenities F.
• Obion County (rural): math 40% / reading 37% proficiency, ranked #17 of 139 in TN (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ridgemont Elementary (math 35% / reading 30%, grade F, #365 of 952 statewide, top 39%, 379 students, 0% FRL); Obion County Central High School (math 22% / reading 32%, grade F, #104 of 332 statewide, top 33%, 745 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $125/mo.
• Market conditions: 16 active listings in the ZIP; 21 units permitted in Obion County in 2024 (0 in 5+ unit buildings).
• Obion County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 320 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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?
• 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.