1236 W Commerce St · Lewisburg, TN 37091

$259,900

3 bd · 1.0 ba · 2,071 sqft · SingleFamily public records · 114 Days on market

Built 1940 1.52 ac lot $125/sqft · 12% below area Est $294k · 12% under

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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
• ARV discount +12.8/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Livability +3.0/5.0
• 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

Owner-financing available. 3 bedroom, 1 bath home in the heart of town! This all-brick property sits on a spacious lot and offers plenty of room to spread out, featuring 2,071 sq ft of living space plus an additional 1,027 sq ft basement. The basement provides great flexibility and could be used for extra bedrooms, a home office, storage, or whatever fits your needs. Outside features include a storage building, a partially fenced yard, and a 3-car attached carport. It’s hard to find a home with this much space at this price. Schedule your showing today!

Key facts

• Flexible basement
• All brick property
• Storage building

Tags

• ALL BRICK PROPERTY
• SPACIOUS LOT
• FLEXIBLE BASEMENT
• STORAGE BUILDING
• PARTIALLY FENCED YARD
• 3 CAR ATTACHED CARPORT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $237k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 3.6% in Lewisburg — 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 59/100 on livability (#284 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Marshall County (rural): math 31% / reading 29% proficiency, ranked #58 of 139 in TN (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 274 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 400 units permitted in Marshall County in 2024 (75 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 $8k of value loss. Plan a longer hold.
• Marshall County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $73k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago 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 $139k; list at $260k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $236,509 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.30% ✓
• Cap rate: 11.18%
• Cash-on-cash: 17.44%
• DSCR: 1.78
• GRM: 6.4

CMA / ARV

• ARV (median comp): $294,281
• List price: $259,900
• Delta: -11.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
240 Joyce Ave	0.13mi	3/2.0	2,002 (-3%)	1mo	$375,000	$187	84
1221 W Commerce St	0.05mi	3/2.0	1,905 (-8%)	5mo	$242,000	$127	76
251 Joyce Ave	0.14mi	3/2.0	2,204 (+6%)	4mo	$365,000	$166	75
104 8th Ave S	0.42mi	3/2.0	2,156 (+4%)	8mo	$245,000	$114	62
575 Joyce Cir	0.71mi	3/2.5	2,046 (-1%)	1mo	$405,000	$198	58
1295 White Dr	0.69mi	3/2.0	2,042 (-1%)	8mo	$345,000	$169	55
1226 W Commerce St	0.02mi	3/2.0	1,760 (-15%)	22mo	$285,000	$162	52
425 Centennial Ave	0.67mi	4/2.5 (+1)	2,081 (+0%)	10mo	$265,000	$127	48
956 Berry St	0.74mi	3/1.5	2,071 (0%)	22mo	$278,100	$134	45
518 Maple St	0.73mi	3/2.5	2,267 (+10%)	6mo	$215,000	$95	39
493 Manor Cir	0.68mi	3/2.5	2,359 (+14%)	24mo	$480,000	$203	19

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: 8.8%
• Equity multiple: 1.35×
• Total profit: $25,197
• Equity at exit: $38,752

10-year hold

• IRR: 18.0%
• Equity multiple: 2.49×
• Total profit: $108,459
• Equity at exit: $22,471

Cash invested: $72,772 (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 37091

• Home prices YoY: -14.6%
• Active inventory: 274
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $3,390 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$149 /mo · $1,791/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$712
• Net cashflow: $1,058

Break-even live

Break-even rent $2,051

Max offer price $259,900

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
968 Foxboro Dr Lewisburg, TN	3.0	2.0	1472	$1,600	$1.09	43d	1	1.15mi
335 E Hill Ave Lewisburg, TN	3.0	2.0	1800	$5,000	$2.78	43d	1	1.26mi

Listing history 27 events

1. 2026-06-18
   days on market $259,900 Active 114 DOM
2. 2026-06-17
   days on market $259,900 Active 113 DOM
3. 2026-06-16
   days on market $259,900 Active 112 DOM
4. 2026-06-15
   days on market $259,900 Active 111 DOM
5. 2026-06-13
   days on market $259,900 Active 109 DOM
6. 2026-06-09
   days on market $259,900 Active 105 DOM
7. 2026-06-08
   days on market $259,900 Active 104 DOM
8. 2026-06-07
   days on market $259,900 Active 103 DOM
9. 2026-06-03
   days on market $259,900 Active 99 DOM
10. 2026-06-02
    days on market $259,900 Active 98 DOM
11. 2026-06-01
    days on market $259,900 Active 97 DOM
12. 2026-05-31
    days on market $259,900 Active 96 DOM
13. 2026-03-23
    price $259,900 566-char remark

    Show marketing remark (566 chars)

    Owner-financing available. 3 bedroom, 1 bath home in the heart of town! This all-brick property sits on a spacious lot and offers plenty of room to spread out, featuring 2,071 sq ft of living space plus an additional 1,027 sq ft basement. The basement provides great flexibility and could be used for extra bedrooms, a home office, storage, or whatever fits your needs. Outside features include a storage building, a partially fenced yard, and a 3-car attached carport. It’s hard to find a home with this much space at this price. Schedule your showing today!

14. 2026-02-25
    listed $264,900 Active 566-char remark

    Show marketing remark (566 chars)

    Owner-financing available. 3 bedroom, 1 bath home in the heart of town! This all-brick property sits on a spacious lot and offers plenty of room to spread out, featuring 2,071 sq ft of living space plus an additional 1,027 sq ft basement. The basement provides great flexibility and could be used for extra bedrooms, a home office, storage, or whatever fits your needs. Outside features include a storage building, a partially fenced yard, and a 3-car attached carport. It’s hard to find a home with this much space at this price. Schedule your showing today!

15. 2024-01-02
    historical $1,500
16. 2023-12-20
    listed $1,500
17. 2023-07-17
    historical
18. 2023-06-15
    historical Active Under Contract
19. 2023-06-12
    listed $258,500 Active
20. 2023-06-01
    historical
21. 2023-05-12
    price $259,999
22. 2023-04-11
    price $265,000
23. 2023-03-24
    price $275,000
24. 2023-03-01
    price $285,000
25. 2023-02-17
    listed $299,000 Active
26. 2022-11-02
    soldstatus $139,000
27. 2004-10-06
    soldstatus $68,500

ⓘ 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: $1,791 · $149/mo
• Projected year-2 tax: $1,845 · $154/mo
• Expected delta: +$54/yr (+$5/mo · 3.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,682
• − Mortgage interest: −$14,558
• − Property taxes: −$1,791
• − Insurance: −$1,300
• − Repairs & maintenance: −$3,255
• − Management: −$3,255
• − Depreciation: −$7,561
• Taxable income: $8,963
• Est. tax owed @ 24.0%: −$2,151
• After-tax cash flow: $10,542/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: Marshall County
• NCES district ID: 4702670
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 29% ▼ -5.00%
• Median HH income: $43,058
• Composite: 25.56/100
• National rank: #7426
• State rank: #58 of 139 in TN

Livability — Lewisburg

• Score: 59/100
• State rank: #284
• US rank: #20031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lewisburg, TN
• Population (ZIP): 23,991

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 33,222 people
• By 2030: 33,867 · +1.9%
• By 2040: 34,743 · +4.6%
• By 2050: 34,954 · +5.2%
• By 2075: 34,652 · +4.3%
• By 2100: 31,862 · -4.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 8% Black 5% Two or more races 4%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Serbian 4% Slovak 2% Romanian 1%
• Foreign-born: 3% · Canada, Jamaica, Vietnam
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Marshall

• 2024 margin: Solid R (+56.6) · D 21.2% · R 77.8%
• 2008→2024 swing: -17.0pp toward R · 2008: -39.6pp · 2024: -56.6pp
• All cycles: 2024: R+56.6 2020: R+50.0 2016: R+46.6 2012: R+28.9 2008: R+39.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.86%
• Current HPI: 350.5306
• 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

+279.4% since first listed

15 events — show timeline

• 2026-03-23 Price Changed $259,900 REALTRACS as Distributed by MLS Grid
• 2026-02-25 Listed $264,900 REALTRACS as Distributed by MLS Grid
• 2024-01-02 Rental Removed $1,500 REALTRACS
• 2023-12-20 Listed for Rent $1,500 REALTRACS
• 2023-07-17 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2023-06-15 Contingent — REALTRACS as Distributed by MLS Grid
• 2023-06-12 Listed $258,500 REALTRACS as Distributed by MLS Grid
• 2023-06-01 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2023-05-12 Price Changed $259,999 REALTRACS as Distributed by MLS Grid
• 2023-04-11 Price Changed $265,000 REALTRACS as Distributed by MLS Grid
• 2023-03-24 Price Changed $275,000 REALTRACS as Distributed by MLS Grid
• 2023-03-01 Price Changed $285,000 REALTRACS as Distributed by MLS Grid
• 2023-02-17 Listed $299,000 REALTRACS as Distributed by MLS Grid
• 2022-11-02 Sold (Public Records) $139,000 Public Records
• 2004-10-06 Sold (Public Records) $68,500 Public Records

Property tax history

+7.3%/yr

Latest (2025): $1,791 · +76.3% YoY. Source: county tax records.