450 Bridle Path Ln

Hartsville/Trousdale County, TN 37074

$409,900D-

4 bd · 3.0 ba · 2,233 sqft · Built 2019 · SingleFamily · Active · 150 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,200/mo
• Mortgage (P&I): −$2,150
• Tax + insurance: −$327
• HOA: −$0
• Vac / Maint / Mgmt: −$462
• Net cashflow: $-739/mo
• Annual: $-8,865/yr
• Cap rate: 4.13%
• Cash-on-cash: -7.72%
• DSCR: 0.66
• 1% rule: 0.54%
• Cash to close: $114,772

Investor read

• This is a 4-bed/3.0-bath single-family listed at $410k.
• At list price, monthly cash flow is $-739 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $279k (31.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (46.3% below list).
• It's been on market 150 days — a 12% lower offer ($361k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $220k (46.3% below list) — sets the bar for 1% rule.
• In year one you build about $44k of equity ($3k loan paydown + $41k appreciation (10.0% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Trousdale County (rural): math 29% / reading 33% proficiency, ranked #46 of 139 in TN (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Trousdale Co Elementary (math 28% / reading 36%, grade F, #369 of 952 statewide, top 42%, 674 students, 0% FRL); Jim Satterfield Middle School (math 35% / reading 28%, grade F, #89 of 333 statewide, top 28%, 341 students, 0% FRL); Trousdale Co High School (math 17% / reading 37%, grade F, #104 of 332 statewide, top 33%, 392 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.
• Market conditions: 89 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 112 units permitted in Trousdale County in 2024 (0 in 5+ unit buildings).
• Trousdale County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$70k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.1% vs local median 2.4% in Hartsville/Trousdale County — 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.

Questions for listing agent

• 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?
• It's been on market 150 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
• 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.
• 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.
• 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.