512 West Wood St · Paris, TN 38242

$129,900

3 bd · 1.0 ba · 1,584 sqft · SingleFamily public records · 114 Days on market

Built 1921 5,401 sqft lot ↓ 13% since listing

---

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 +15.8/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Completely remodeled in early 2023, this charming 3-bedroom, 1-bath Craftsman-style brick bungalow blends classic character with modern updates throughout. Upgrades include a new roof, windows, HVAC system, flooring, fresh paint, and fully renovated kitchen and bathroom. The welcoming covered front porch offers timeless curb appeal, while the interior features a functional layout with spacious rooms and abundant natural light. Solid brick construction, a gabled roof, and traditional Craftsman details highlight the home's enduring style. Located just off the downtown square, enjoy the convenience of walking to local shops and restaurants while still savoring the comfort of a move-in-ready ho

Key facts

• Remodeled
• Fresh paint
• New flooring

Tags

• REMODELED
• NEW ROOF
• NEW WINDOWS
• NEW HVAC SYSTEM
• NEW FLOORING
• FRESH PAINT

Property features AI

Exterior

• Parking: Open parking; Gravel parking; no garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; One level
• Construction: Brick construction; Shingle roof
• Exterior features: Front porch; Rear porch; City lot; Paved road access

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: 3 main-level bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Ceiling fans; Has heating
• Interior features: Ceiling fan(s); Insulated windows; Unfinished basement; Basement present

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $60 ($716/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (13.6% below list).
• Recommended offer: $112k (13.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#13 in TN, #4,115 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, commute F, employment F.
• Paris (town): math 42% / reading 32% proficiency, ranked #28 of 139 in TN (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: W G Rhea Elementary (571 students, 0% FRL); W O Inman Middle School (math 36% / reading 28%, grade F, #87 of 333 statewide, top 26%, 507 students, 0% FRL) — zoned schools average 0% FRL vs 53% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 192 active listings in the ZIP; 19 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Henry County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1921 — 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 $112,291 (13.6% 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 14% concession, seller financing, or rate buy-down credit?
2. Built in 1921 — 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 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: 0.86% ✗
• Cap rate: 6.84%
• Cash-on-cash: 1.97%
• DSCR: 1.09
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -13.2%
• Equity multiple: 0.53×
• Total profit: $-17,275
• Equity at exit: $19,369

10-year hold

• IRR: -4.3%
• Equity multiple: 0.72×
• Total profit: $-10,254
• Equity at exit: $11,231

Cash invested: $36,372 (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 38242

• Home prices YoY: -17.6%
• Active inventory: 192
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,123 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$92 /mo · $1,105/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $60

Break-even live

Break-even rent $1,047

Max offer price $129,900

Occupancy floor 90%

Sensitivity live

Price	-10% $133	-5% $96	+0% $60	+5% $23	+10% $-14
Rent	-10% $-29	-5% $15	+0% $60	+5% $104	+10% $148
Rate	-1.0pp $125	-0.5pp $93	base $60	+0.5pp $26	+1.0pp $-8

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-05
   status Pending
2. 2026-04-29
   historical Active Under Contract
3. 2026-04-20
   price $129,900
4. 2026-03-23
   price $134,900
5. 2026-02-19
   price $144,900
6. 2026-01-12
   listed $149,900 Active

ⓘ 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: $1,105 · $92/mo
• Projected year-2 tax: $1,105 · $92/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $13,475
• − Mortgage interest: −$7,276
• − Property taxes: −$1,105
• − Insurance: −$650
• − Repairs & maintenance: −$1,078
• − Management: −$1,078
• − Depreciation: −$3,779
• Taxable loss: −$1,491
• Est. tax savings @ 24.0%: +$358
• After-tax cash flow: $1,074/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: Paris
• NCES district ID: 4703360
• Math proficiency: 42% ▼ -4.00%
• Reading proficiency: 32% ▼ -2.00%
• Median HH income: $30,045
• Composite: 30.15/100
• National rank: #6330
• State rank: #28 of 139 in TN

Livability — Paris

• Score: 75/100
• State rank: #13
• US rank: #4115

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paris, TN
• City population: 19,619
• Population (ZIP): 19,619

Population outlook (Henry County) Hauer SSP2

• Today (2025): 31,750 people
• By 2030: 31,277 · -1.5%
• By 2040: 30,064 · -5.3%
• By 2050: 28,675 · -9.7%
• By 2075: 25,767 · -18.8%
• By 2100: 22,318 · -29.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 10% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 2% Spanish 2%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+55.3) · D 21.8% · R 77.1% · Other 1.1%
• 2008→2024 swing: -33.0pp toward R · 2008: -22.4pp · 2024: -55.3pp
• All cycles: 2024: R+55.3 2020: R+51.1 2016: R+49.8 2012: R+30.2 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.93%
• Current HPI: 234.3442
• 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

-13.3% since first listed

6 events — show timeline

• 2026-05-05 Pending — TVAR
• 2026-04-29 Contingent — TVAR
• 2026-04-20 Price Changed $129,900 TVAR
• 2026-03-23 Price Changed $134,900 TVAR
• 2026-02-19 Price Changed $144,900 TVAR
• 2026-01-12 Listed $149,900 TVAR

Property tax history

+15.9%/yr

Latest (2025): $1,105 · +6.0% YoY. Source: county tax records.