280 Oscar Crowell Rd

Lakewood Park, TN 37018

$285,000D

3 bd · 2.0 ba · 1,982 sqft · Built 1994 · SingleFamily · Active · 102 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,396/mo
• Mortgage (P&I): −$1,495
• Tax + insurance: −$208
• HOA: −$0
• Vac / Maint / Mgmt: −$293
• Net cashflow: $-600/mo
• Annual: $-7,197/yr
• Cap rate: 3.77%
• Cash-on-cash: -9.02%
• DSCR: 0.60
• 1% rule: 0.49%
• Cash to close: $79,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $285k.
• At list price, monthly cash flow is $-600 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (37.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (51.0% below list).
• It's been on market 102 days — a 9% lower offer ($259k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $140k (51.0% below list) — sets the bar for 1% rule.
• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Location reads 52/100 on livability (#395 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Coffee County (rural): math 22% / reading 27% proficiency, ranked #87 of 139 in TN (top 63%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: North Coffee Elementary (math 22% / reading 27%, grade F, #546 of 952 statewide, top 61%, 342 students, 0% FRL); Coffee County Middle School (math 17% / reading 21%, grade F, #204 of 333 statewide, top 62%, 843 students, 0% FRL); Coffee County Central High School (math 10% / reading 31%, grade F, #175 of 332 statewide, top 53%, 1,285 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: 36 active listings in the ZIP; 389 units permitted in Coffee County in 2024 (6 in 5+ unit buildings).
• Coffee County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 13y 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 $145k; list at $285k implies a 97% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.
• Cap rate 3.8% vs local median 2.1% in Lakewood Park — 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 102 days. Have you received any prior offers? Is the seller open to a 51% 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.
• 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?
• 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?
• 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.