207 Center St · Portland, TN 37148

$225,000

4 bd · 2.0 ba · 784 sqft · Other public records · 68 Days on market

Built 1984 9,583 sqft lot $287/sqft · 122% above area Est $240k · 6% under

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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 +13.0/30.0
• ARV discount +10.2/15.0
• DSCR +3.9/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 207 Center Street in Portland, TN! 1% lender credit available with acceptable offer and through preferred lender. This spacious manufactured home with a 1995 addition offers approximately 1,850 square feet of living space, featuring 3 bedrooms and 2 full bathrooms. Situated on two parcels, the property combines comfort, functionality, and impressive storage options. Additionally, the whole mobile home park across the street has been turned into new construction homes, protecting the long term value of the area for years to come! Inside, the home provides a practical layout with plenty of room for daily living and entertaining. The covered back deck is perfect for relaxing outdoors, rain or shine, and offers an easy space for grilling or gatherings. The property shines with its detached 600 sq ft garage, designed with oversized doors to accommodate large vehicles. Built with steel beams, this garage is capable of operating a 2-ton lift, making it an ideal space for mechanics, hobbyists, or anyone needing heavy-duty workshop functionality. An additional storage shed remains with the property, giving you even more space for tools, equipment, or seasonal items. With its generous lot, multiple parcels, and versatile outbuildings, this property is a standout opportunity in Portland. Whether you’re looking for a comfortable primary residence with extra space for projects or a property with investment potential, 207 Center Street is ready to deliver. Schedule your showing today and see all the possibilities this property has to offer!

Key facts

• Multiple parcels
• Covered back deck
• Detached garage

Tags

• DETACHED GARAGE
• COVERED BACK DECK
• MULTIPLE PARCELS
• ADDITIONAL STORAGE SHED
• NEW CONSTRUCTION HOMES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $225k.

Deal economics

• At list price, monthly cash flow is $-14 ($-168/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (27.0% below list).
• Recommended offer: $164k (27.0% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.6% in Portland — 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 (#122 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Sumner County (suburban): math 44% / reading 39% proficiency, ranked #12 of 139 in TN (top 9%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 302 active listings in the ZIP; solid renter incomes; 1,748 units permitted in Sumner County in 2024 (124 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Sumner County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 3 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 $3k; list at $225k implies a 7400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $164,219 (27.0% 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. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.73% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.27%
• DSCR: 0.99
• GRM: 11.4

CMA / ARV

• ARV (median comp): $239,500
• List price: $225,000
• Delta: -6.05%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -16.8%
• Equity multiple: 0.41×
• Total profit: $-37,477
• Equity at exit: $33,548

10-year hold

• IRR: -8.8%
• Equity multiple: 0.46×
• Total profit: $-34,291
• Equity at exit: $19,454

Cash invested: $63,000 (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 37148

• Home prices YoY: -22.2%
• Active inventory: 302
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,642 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$38 /mo · $452/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $-14

Break-even live

Break-even rent $1,660

Max offer price $222,525

Occupancy floor 96%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $225,000 Active 68 DOM
2. 2026-06-17
   days on market $225,000 Active 67 DOM
3. 2026-06-16
   days on market $225,000 Active 66 DOM
4. 2026-06-15
   days on market $225,000 Active 65 DOM
5. 2026-06-13
   days on market $225,000 Active 63 DOM
6. 2026-06-13
   days on market $225,000 Active 62 DOM
7. 2026-06-09
   days on market $225,000 Active 59 DOM
8. 2026-06-08
   days on market $225,000 Active 58 DOM
9. 2026-06-07
   days on market $225,000 Active 57 DOM
10. 2026-04-03
    listed $225,000 Active 1574-char remark

    Show marketing remark (1574 chars)

    Welcome to 207 Center Street in Portland, TN! 1% lender credit available with acceptable offer and through preferred lender. This spacious manufactured home with a 1995 addition offers approximately 1,850 square feet of living space, featuring 3 bedrooms and 2 full bathrooms. Situated on two parcels, the property combines comfort, functionality, and impressive storage options. Additionally, the whole mobile home park across the street has been turned into new construction homes, protecting the long term value of the area for years to come! Inside, the home provides a practical layout with plenty of room for daily living and entertaining. The covered back deck is perfect for relaxing outdoors, rain or shine, and offers an easy space for grilling or gatherings. The property shines with its detached 600 sq ft garage, designed with oversized doors to accommodate large vehicles. Built with steel beams, this garage is capable of operating a 2-ton lift, making it an ideal space for mechanics, hobbyists, or anyone needing heavy-duty workshop functionality. An additional storage shed remains with the property, giving you even more space for tools, equipment, or seasonal items. With its generous lot, multiple parcels, and versatile outbuildings, this property is a standout opportunity in Portland. Whether you’re looking for a comfortable primary residence with extra space for projects or a property with investment potential, 207 Center Street is ready to deliver. Schedule your showing today and see all the possibilities this property has to offer!

11. 2026-04-01
    historical 1574-char remark

    Show marketing remark (1574 chars)

    Welcome to 207 Center Street in Portland, TN! 1% lender credit available with acceptable offer and through preferred lender. This spacious manufactured home with a 1995 addition offers approximately 1,850 square feet of living space, featuring 3 bedrooms and 2 full bathrooms. Situated on two parcels, the property combines comfort, functionality, and impressive storage options. Additionally, the whole mobile home park across the street has been turned into new construction homes, protecting the long term value of the area for years to come! Inside, the home provides a practical layout with plenty of room for daily living and entertaining. The covered back deck is perfect for relaxing outdoors, rain or shine, and offers an easy space for grilling or gatherings. The property shines with its detached 600 sq ft garage, designed with oversized doors to accommodate large vehicles. Built with steel beams, this garage is capable of operating a 2-ton lift, making it an ideal space for mechanics, hobbyists, or anyone needing heavy-duty workshop functionality. An additional storage shed remains with the property, giving you even more space for tools, equipment, or seasonal items. With its generous lot, multiple parcels, and versatile outbuildings, this property is a standout opportunity in Portland. Whether you’re looking for a comfortable primary residence with extra space for projects or a property with investment potential, 207 Center Street is ready to deliver. Schedule your showing today and see all the possibilities this property has to offer!

12. 2026-01-07
    listed $225,000 Active 1574-char remark

    Show marketing remark (1574 chars)

    Welcome to 207 Center Street in Portland, TN! 1% lender credit available with acceptable offer and through preferred lender. This spacious manufactured home with a 1995 addition offers approximately 1,850 square feet of living space, featuring 3 bedrooms and 2 full bathrooms. Situated on two parcels, the property combines comfort, functionality, and impressive storage options. Additionally, the whole mobile home park across the street has been turned into new construction homes, protecting the long term value of the area for years to come! Inside, the home provides a practical layout with plenty of room for daily living and entertaining. The covered back deck is perfect for relaxing outdoors, rain or shine, and offers an easy space for grilling or gatherings. The property shines with its detached 600 sq ft garage, designed with oversized doors to accommodate large vehicles. Built with steel beams, this garage is capable of operating a 2-ton lift, making it an ideal space for mechanics, hobbyists, or anyone needing heavy-duty workshop functionality. An additional storage shed remains with the property, giving you even more space for tools, equipment, or seasonal items. With its generous lot, multiple parcels, and versatile outbuildings, this property is a standout opportunity in Portland. Whether you’re looking for a comfortable primary residence with extra space for projects or a property with investment potential, 207 Center Street is ready to deliver. Schedule your showing today and see all the possibilities this property has to offer!

13. 2026-01-06
    historical $225,000 1574-char remark

    Show marketing remark (1574 chars)

    Welcome to 207 Center Street in Portland, TN! 1% lender credit available with acceptable offer and through preferred lender. This spacious manufactured home with a 1995 addition offers approximately 1,850 square feet of living space, featuring 3 bedrooms and 2 full bathrooms. Situated on two parcels, the property combines comfort, functionality, and impressive storage options. Additionally, the whole mobile home park across the street has been turned into new construction homes, protecting the long term value of the area for years to come! Inside, the home provides a practical layout with plenty of room for daily living and entertaining. The covered back deck is perfect for relaxing outdoors, rain or shine, and offers an easy space for grilling or gatherings. The property shines with its detached 600 sq ft garage, designed with oversized doors to accommodate large vehicles. Built with steel beams, this garage is capable of operating a 2-ton lift, making it an ideal space for mechanics, hobbyists, or anyone needing heavy-duty workshop functionality. An additional storage shed remains with the property, giving you even more space for tools, equipment, or seasonal items. With its generous lot, multiple parcels, and versatile outbuildings, this property is a standout opportunity in Portland. Whether you’re looking for a comfortable primary residence with extra space for projects or a property with investment potential, 207 Center Street is ready to deliver. Schedule your showing today and see all the possibilities this property has to offer!

14. 2026-01-01
    historical
15. 2025-12-19
    price $230,000
16. 2025-10-22
    price $240,000
17. 2025-10-09
    listed $250,000 Active
18. 2025-09-30
    historical $250,000
19. 1988-11-18
    soldstatus $3,000

ⓘ 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: $452 · $38/mo
• Projected year-2 tax: $1,598 · $133/mo
• Expected delta: +$1,146/yr (+$95/mo · 253.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,706
• − Mortgage interest: −$12,603
• − Property taxes: −$452
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,577
• − Management: −$1,577
• − Depreciation: −$6,545
• Taxable loss: −$4,173
• Est. tax savings @ 24.0%: +$1,001
• After-tax cash flow: $833/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: Sumner County
• NCES district ID: 4704020
• Math proficiency: 44% ▼ -11.00%
• Reading proficiency: 39% ▼ -5.00%
• Median HH income: $56,998
• Composite: 36.44/100
• National rank: #4667
• State rank: #12 of 139 in TN

Livability — Portland

• Score: 66/100
• State rank: #122
• US rank: #11795

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portland, TN
• County: Sumner County · 196,654 people
• City population: 26,274
• Metro: Nashville-Davidson--Murfreesboro--Franklin, TN
• Population (ZIP): 26,274
• Household income: $81,633
• Rent vs Own: 24.3% rent · 75.7% own
• Severe rent burden: 319.0

Population outlook (Sumner County) Hauer SSP2

• Today (2025): 208,284 people
• By 2030: 223,902 · +7.5%
• By 2040: 253,892 · +21.9%
• By 2050: 281,199 · +35.0%
• By 2075: 344,866 · +65.6%
• By 2100: 384,369 · +84.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 6% Two or more races 4% Black 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 3% Serbian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Sumner

• 2024 margin: Solid R (+41.8) · D 28.5% · R 70.3% · Other 1.1%
• 2008→2024 swing: -6.9pp toward R · 2008: -34.9pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.6 2016: R+45.0 2012: R+42.0 2008: R+34.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.34%
• Current HPI: 315.8252
• Rent YoY: —
• Metro: Nashville-Davidson--Murfreesboro--Franklin, TN
• 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

+7400.0% since first listed

10 events — show timeline

• 2026-04-03 Listed $225,000 REALTRACS as Distributed by MLS Grid
• 2026-04-01 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2026-01-07 Listed $225,000 REALTRACS as Distributed by MLS Grid
• 2026-01-06 Coming Soon $225,000 REALTRACS as Distributed by MLS Grid
• 2026-01-01 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2025-12-19 Price Changed $230,000 REALTRACS as Distributed by MLS Grid
• 2025-10-22 Price Changed $240,000 REALTRACS as Distributed by MLS Grid
• 2025-10-09 Listed $250,000 REALTRACS as Distributed by MLS Grid
• 2025-09-30 Coming Soon $250,000 REALTRACS as Distributed by MLS Grid
• 1988-11-18 Sold (Public Records) $3,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $452 · +0.0% YoY. Source: county tax records.