204 Arrants Rd · Decatur, TN 37322

$1,150,000

36 bd · 5.0 ba · 2,688 sqft · MultiFamily public records · 364 Days on market

Built 1996 0.96 ac lot

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Why this score? — see what drove the C- 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 +16.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• 1% rule +3.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 9 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Income-Producing 9-Unit Investment Opportunity. All units are separately metered. Located directly across from Meigs County High School, this well-positioned multi-family property is a valuable addition to any portfolio. With nearly all units currently occupied and under professional management, this opportunity offers immediate cash flow and long-term potential. Don't miss your chance to invest in a high-demand area—contact your favorite REALTOR® today to schedule a private showing and take the next step in growing your investment portfolio. All information is deemed reliable but not guaranteed. Buyers are advised to independently verify all details.

Key facts

• High-demand area
• Separately metered
• 0.96 acre lot

Tags

• 9-UNIT INVESTMENT OPPORTUNITY
• SEPARATELY METERED
• MULTI-FAMILY PROPERTY
• HIGH-DEMAND AREA

What this means for you Summary

Snapshot

• This is a 9 × 4-bed/1.4-bath units multifamily listed at $1.15M.

Deal economics

• At list price, monthly cash flow is $593 ($7k/yr) — positive. Per door: $66/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $940k (18.2% below list).
• Recommended offer: $940k (18.2% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 1.6% in Decatur — 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 61/100 on livability (#240 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, amenities F.
• Meigs County (rural): math 16% / reading 22% proficiency, ranked #122 of 139 in TN (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Meigs North Elementary (math 17% / reading 22%, grade F, #654 of 952 statewide, top 72%, 434 students, 0% FRL); Meigs Middle School (math 19% / reading 21%, grade F, #198 of 333 statewide, top 61%, 390 students, 0% FRL); Meigs County High School (math 12% / reading 22%, grade F, #225 of 332 statewide, top 69%, 538 students, 0% FRL) — zoned schools average 0% FRL vs 57% district-wide (57 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 239 active listings in the ZIP; 94 units permitted in Meigs County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $123k of equity ($8k loan paydown + $115k appreciation (10.0% local appreciation)).
• Meigs County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $322k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$198k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 364 days — a 12% lower offer ($1.01M) is reasonable based on typical stale-listing flexibility.
• 13 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.
• Current owner paid $550k; list at $1.15M implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $940,400 (18.2% below list)

Questions for the listing agent

1. It's been on market 364 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.82% ✗
• Cap rate: 6.91%
• Cash-on-cash: 2.21%
• DSCR: 1.10
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.9%
• Equity multiple: 3.06×
• Total profit: $663,549
• Equity at exit: $1,036,011

10-year hold

• IRR: 22.7%
• Equity multiple: 6.97×
• Total profit: $1,923,265
• Equity at exit: $2,234,197

Cash invested: $322,000 (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 37322

• Home prices YoY: 29.4%
• Active inventory: 239
• Price-to-rent: 91.7×

Monthly cashflow live

• Estimated rent: $9,404 medium
• Mortgage (P&I): −$6,031
• Tax from tax record: −$326 /mo · $3,915/yr
• Insurance: −$479
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,975
• Net cashflow: $593

Break-even live

Break-even rent $8,653

Max offer price $1,150,000

Occupancy floor 89%

Sensitivity live

Price	-10% $1,244	-5% $919	+0% $593	+5% $268	+10% $-58
Rent	-10% $-150	-5% $222	+0% $593	+5% $964	+10% $1,336
Rate	-1.0pp $1,172	-0.5pp $886	base $593	+0.5pp $295	+1.0pp $-8

9-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 9× units	4	1.4	$9,405
Total (9 units)			$9,404

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: $287,500
• Closing costs: $34,500
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2025-08-14
   price $1,150,000 669-char remark

   Show marketing remark (669 chars)

   Income-Producing 9-Unit Investment Opportunity. All units are separately metered. Located directly across from Meigs County High School, this well-positioned multi-family property is a valuable addition to any portfolio. With nearly all units currently occupied and under professional management, this opportunity offers immediate cash flow and long-term potential. Don't miss your chance to invest in a high-demand area—contact your favorite REALTOR® today to schedule a private showing and take the next step in growing your investment portfolio. All information is deemed reliable but not guaranteed. Buyers are advised to independently verify all details.

2. 2025-05-28
   listed $1,200,000 Active 669-char remark

   Show marketing remark (669 chars)

   Income-Producing 9-Unit Investment Opportunity. All units are separately metered. Located directly across from Meigs County High School, this well-positioned multi-family property is a valuable addition to any portfolio. With nearly all units currently occupied and under professional management, this opportunity offers immediate cash flow and long-term potential. Don't miss your chance to invest in a high-demand area—contact your favorite REALTOR® today to schedule a private showing and take the next step in growing your investment portfolio. All information is deemed reliable but not guaranteed. Buyers are advised to independently verify all details.

3. 2025-03-18
   historical $850
4. 2025-03-18
   listed $850
5. 2025-01-18
   historical $775
6. 2025-01-17
   historical $775
7. 2025-01-09
   listed $775
8. 2024-12-10
   historical
9. 2024-12-08
   historical $775
10. 2024-12-08
    listed $775
11. 2024-11-14
    historical $775
12. 2024-11-14
    listed $775
13. 2024-11-14
    listed $775
14. 2024-04-30
    listed $1,200,000 Active
15. 2024-04-30
    listed $1,200,000 Active
16. 2023-09-28
    historical $750
17. 2023-09-19
    historical $750
18. 2023-09-18
    listed $750
19. 2023-09-12
    historical $750
20. 2023-08-31
    listed $750
21. 2023-08-23
    listed $750
22. 2019-11-08
    soldstatus $550,000
23. 2018-09-20
    listed $685,000
24. 2018-01-23
    listed $659,000
25. 2004-11-30
    soldstatus $410,000

ⓘ 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: $3,915 · $326/mo
• Projected year-2 tax: $8,165 · $680/mo
• Expected delta: +$4,250/yr (+$354/mo · 108.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $112,848
• − Mortgage interest: −$64,418
• − Property taxes: −$3,915
• − Insurance: −$5,750
• − Repairs & maintenance: −$9,028
• − Management: −$9,028
• − Depreciation: −$33,455
• Taxable loss: −$12,745
• Est. tax savings @ 24.0%: +$3,059
• After-tax cash flow: $10,175/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: Meigs County
• NCES district ID: 4702910
• Math proficiency: 16% ▼ -18.00%
• Reading proficiency: 22% ▼ -10.00%
• Median HH income: $36,129
• Composite: 15.74/100
• National rank: #9278
• State rank: #122 of 139 in TN

Livability — Decatur

• Score: 61/100
• State rank: #240
• US rank: #17516

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Decatur, TN
• Population (ZIP): 8,509

Population outlook (Meigs County) Hauer SSP2

• Today (2025): 11,953 people
• By 2030: 11,878 · -0.6%
• By 2040: 11,514 · -3.7%
• By 2050: 10,946 · -8.4%
• By 2075: 9,639 · -19.4%
• By 2100: 8,171 · -31.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 4%
• Common ancestry: Lithuanian 3% Iranian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · French/Haitian/Cajun 1% Spanish 1%

Political lean MEDSL · Meigs

• 2024 margin: Solid R (+67.5) · D 15.9% · R 83.4%
• 2008→2024 swing: -33.9pp toward R · 2008: -33.6pp · 2024: -67.5pp
• All cycles: 2024: R+67.5 2020: R+62.5 2016: R+57.5 2012: R+39.5 2008: R+33.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 93.26%
• Current HPI: 410.6623
• 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

+180.5% since first listed

25 events — show timeline

• 2025-08-14 Price Changed $1,150,000 GCAR
• 2025-05-28 Listed $1,200,000 GCAR
• 2025-03-18 Rental Removed $850 LEASESTAR
• 2025-03-18 Listed for Rent $850 LEASESTAR
• 2025-01-18 Rental Removed $775 BUILDIUM
• 2025-01-17 Rental Removed $775 LEASESTAR
• 2025-01-09 Listed for Rent $775 BUILDIUM
• 2024-12-10 Listing Removed — Knoxville MLS
• 2024-12-08 Rental Removed $775 BUILDIUM
• 2024-12-08 Listed for Rent $775 BUILDIUM
• 2024-11-14 Rental Removed $775 BUILDIUM
• 2024-11-14 Listed for Rent $775 LEASESTAR
• 2024-11-14 Listed for Rent $775 BUILDIUM
• 2024-04-30 Listed $1,200,000 RCAOR
• 2024-04-30 Listed $1,200,000 Knoxville MLS
• 2023-09-28 Rental Removed $750 LEASESTAR
• 2023-09-19 Rental Removed $750 BUILDIUM
• 2023-09-18 Listed for Rent $750 BUILDIUM
• 2023-09-12 Rental Removed $750 BUILDIUM
• 2023-08-31 Listed for Rent $750 LEASESTAR
• 2023-08-23 Listed for Rent $750 BUILDIUM
• 2019-11-08 Sold (Public Records) $550,000 Public Records
• 2018-09-20 Listed $685,000 RCAOR
• 2018-01-23 Listed $659,000 RCAOR
• 2004-11-30 Sold (Public Records) $410,000 Public Records

Property tax history

+0.3%/yr

Latest (2025): $3,915 · +0.0% YoY. Source: county tax records.