401 Cumberland St E · Cowan, TN 37318

$85,000

2 bd · 2.0 ba · 1,275 sqft · SingleFamily public records · 10 Days on market

Built 1900 8,712 sqft lot ↓ 29% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +4.5/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

Gorgeous Historical property centrally located in the heart of Cowan. Was Commercial rezoned to Residential and all equipment being removed. Features 2 bdrm, 2 baths. Kitchen, living rm, formal dining rm, gorgeous hardwood floors, original crown molding & recessed book shelves, great location. Come and see this deal before it's gone.

Key facts

• 8,712 sq ft lot
• Built 1900
• Listed 9 days

Property features AI

Finance

• Other: Above-grade living area reported as 1,221 (owner provided)

Exterior

• Parking: No covered parking reported; No total parking spaces reported
• Utilities: Public water; Public sewer; Electricity available
• Home design: Single-family residence; One story; Historic home
• Construction: Wood siding
• Exterior features: Corner lot; Lot dimensions approximately 73 x 133

Interior

• Kitchen: Kitchen approximately 11 x 18; Gas range
• Bedrooms: 2 bedrooms (both on the main level); Bedroom sizes approximately 12 x 14 each; Den approximately 6 x 11
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric) with zoned controls; Central air conditioning (electric)
• Interior features: Gas range; Wood flooring; No basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $447 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Cap rate 12.6% vs local median 3.5% in Cowan — 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 57/100 on livability (#329 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, employment F.
• Franklin County (town): math 18% / reading 22% proficiency, ranked #111 of 139 in TN (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Cowan Elementary (math 32% / reading 17%, grade F, #546 of 952 statewide, top 61%, 279 students, 0% FRL); Franklin Co High School (math 5% / reading 22%, grade F, #255 of 332 statewide, top 77%, 1,180 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 27 active listings in the ZIP; 422 units permitted in Franklin County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.1%/yr); year-one equity from $588 of loan paydown is wiped out by about $928 of value loss. Plan a longer hold.
• Franklin County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-1.1% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 8y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $85,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.50% ✓
• Cap rate: 12.60%
• Cash-on-cash: 22.52%
• DSCR: 2.00
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $204,000
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 Cowan St E	0.10mi	3/2.0 (+1)	1,325 (+4%)	10mo	$205,000	$155	76
104 Hill St N	0.05mi	2/2.0	1,324 (+4%)	22mo	$214,900	$162	73
403 Hawkins St	0.23mi	3/1.0 (+1)	1,249 (-2%)	12mo	$88,700	$71	67
104 Willow St N	0.32mi	3/2.0 (+1)	1,311 (+3%)	10mo	$254,900	$194	67
213 England St W	0.42mi	3/1.5 (+1)	1,275 (0%)	8mo	$220,000	$173	66
400 Cowan St E	0.08mi	3/2.0 (+1)	1,152 (-10%)	11mo	$154,500	$134	66
116 Poplar St N	0.23mi	3/2.0 (+1)	1,416 (+11%)	8mo	$190,000	$134	59
117 Willow St N	0.28mi	3/1.0 (+1)	1,185 (-7%)	9mo	$190,000	$160	58
212 Myers St	0.40mi	2/1.0	1,104 (-13%)	3mo	$114,000	$103	52
314 Poplar St N	0.38mi	3/1.0 (+1)	1,305 (+2%)	21mo	$210,000	$161	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-1.09% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.1%
• Equity multiple: 1.91×
• Total profit: $21,697
• Equity at exit: $20,141

10-year hold

• IRR: 25.7%
• Equity multiple: 3.61×
• Total profit: $62,094
• Equity at exit: $20,831

Cash invested: $23,800 (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 37318

• Home prices YoY: -0.3%
• Active inventory: 27
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,274 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$78 /mo · $942/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $447

Break-even live

Break-even rent $708

Max offer price $85,000

Occupancy floor 60%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-19
   days on market $85,000 Active 10 DOM
2. 2026-06-18
   days on market $85,000 Active 9 DOM
3. 2026-06-17
   days on market $85,000 Active 8 DOM
4. 2026-06-16
   days on market $85,000 Active 7 DOM
5. 2026-06-15
   days on market $85,000 Active 6 DOM
6. 2026-06-14
   days on market $85,000 Active 4 DOM
7. 2026-06-13
   days on market $85,000 Active 3 DOM
8. 2026-06-10
   remarks 221-char remark
9. 2026-06-10
   listed $85,000 Active 1 DOM

ⓘ 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: $942 · $78/mo
• Projected year-2 tax: $942 · $78/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 ≥102°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,286
• − Mortgage interest: −$4,761
• − Property taxes: −$942
• − Insurance: −$425
• − Repairs & maintenance: −$1,223
• − Management: −$1,223
• − Depreciation: −$2,473
• Taxable income: $4,239
• Est. tax owed @ 24.0%: −$1,017
• After-tax cash flow: $4,343/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: Franklin County
• NCES district ID: 4701290
• Math proficiency: 18% ▼ -9.00%
• Reading proficiency: 22% ▼ -8.00%
• Median HH income: $43,108
• Composite: 17.24/100
• National rank: #9094
• State rank: #111 of 139 in TN

Livability — Cowan

• Score: 57/100
• State rank: #329
• US rank: #21913

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cowan, TN
• Population (ZIP): 2,245

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 42,858 people
• By 2030: 43,540 · +1.6%
• By 2040: 44,623 · +4.1%
• By 2050: 45,523 · +6.2%
• By 2075: 48,954 · +14.2%
• By 2100: 50,170 · +17.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 9% Two or more races 4%
• Common ancestry: Slovak 2% Serbian 2% Italian 1%
• Foreign-born: 0%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+53.2) · D 23.0% · R 76.1%
• 2008→2024 swing: -30.6pp toward R · 2008: -22.5pp · 2024: -53.2pp
• All cycles: 2024: R+53.2 2020: R+47.7 2016: R+43.7 2012: R+28.9 2008: R+22.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.09%
• Current HPI: 355.3141
• 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

-29.1% since first listed

8 events — show timeline

• 2026-06-10 Listed $85,000 REALTRACS as Distributed by MLS Grid
• 2021-08-20 Sold (MLS) $124,900 REALTRACS as Distributed by MLS Grid
• 2021-06-28 Contingent — REALTRACS as Distributed by MLS Grid
• 2020-12-09 Listed $119,900 REALTRACS as Distributed by MLS Grid
• 2020-12-01 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2019-06-03 Relisted — REALTRACS as Distributed by MLS Grid
• 2019-06-01 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2018-11-28 Listed $119,900 REALTRACS as Distributed by MLS Grid

Property tax history

+0.0%/yr

Latest (2025): $942 · +1.4% YoY. Source: county tax records.