447 Durkee Rd SE · Cleveland, TN 37323

$149,000

3 bd · 1.0 ba · 3,009 sqft · SingleFamily public records · 53 Days on market

Built 1970 0.51 ac lot $50/sqft · 56% below area

---

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
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Residential building needs renovation and repairs. On a nice half acre lot the renovation will be worth it. Approximately 3000 square feet will make a beautiful home in Cleveland, TN of of Hwy 64. Priced only reduced to $119,900 Bring offers. All offers will be considered!

Key facts

• Half acre lot
• 0.51 acre lot
• Built 1970

Tags

• HALF ACRE LOT

Property features AI

Finance

• Other: Property type: Residential; Property subtype: Single Family Residence
• HOA & community: No community features

Exterior

• Parking: Gravel parking
• Utilities: Public water available; Septic tank for sewer; Electricity available; Phone service available; Cable available; Natural gas not available; Water available, sewer not available
• Home design: Single family residence; One level; Fixer condition
• Construction: Wood siding construction; Block foundation; Shingle roof; Built-up living area above grade: 3,009
• Exterior features: Other exterior features; Level, cleared lot; County road frontage; Paved public road access

Interior

• Flooring: Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating; No cooling
• Interior features: Other interior features
• Laundry & utility: Laundry features: Other

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $715 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 3.5% in Cleveland — 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 70/100 on livability (#55 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment D, crime F, amenities F.
• Bradley County (other): math 35% / reading 34% proficiency, ranked #33 of 139 in TN (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Oak Grove Elementary School (math 32% / reading 37%, grade F, #319 of 952 statewide, top 37%, 406 students, 0% FRL); Lake Forest Middle School (math 32% / reading 26%, grade F, #110 of 333 statewide, top 34%, 1,127 students, 0% FRL); Bradley Central High School (math 13% / reading 31%, grade F, #163 of 332 statewide, top 51%, 1,677 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 374 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 768 units permitted in Bradley County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Bradley County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $144,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.36% ✓
• Cap rate: 12.05%
• Cash-on-cash: 20.57%
• DSCR: 1.92
• GRM: 6.1

CMA / ARV

• ARV (median comp): $338,771
• List price: $149,000
• Delta: -56.02%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
120 NE Meadowwood Cir	0.52mi	3/2.5	2,907 (-3%)	23mo	$665,000	$229	45
3024 Bates Pike SE	0.45mi	4/3.0 (+1)	3,371 (+12%)	6mo	$339,900	$101	41

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: 12.9%
• Equity multiple: 1.51×
• Total profit: $21,349
• Equity at exit: $22,216

10-year hold

• IRR: 21.7%
• Equity multiple: 2.85×
• Total profit: $77,006
• Equity at exit: $12,883

Cash invested: $41,720 (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 37323

• Home prices YoY: -23.5%
• Active inventory: 374
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,024 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$41 /mo · $488/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $715

Break-even live

Break-even rent $1,119

Max offer price $149,000

Occupancy floor 60%

Sensitivity live

Price	-10% $800	-5% $757	+0% $715	+5% $673	+10% $631
Rent	-10% $555	-5% $635	+0% $715	+5% $795	+10% $875
Rate	-1.0pp $790	-0.5pp $753	base $715	+0.5pp $677	+1.0pp $637

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4033 Billie Ln NE Cleveland, TN	4.0	2.5	2804	$2,670	$0.95	45d	1	1.02mi

Listing history 22 events

1. 2026-06-21
   days on market $149,000 Active 53 DOM
2. 2026-06-19
   days on market $149,000 Active 51 DOM
3. 2026-06-18
   days on market $149,000 Active 50 DOM
4. 2026-06-17
   days on market $149,000 Active 49 DOM
5. 2026-06-16
   days on market $149,000 Active 48 DOM
6. 2026-06-15
   days on market $149,000 Active 47 DOM
7. 2026-06-14
   days on market $149,000 Active 45 DOM
8. 2026-06-13
   days on market $149,000 Active 44 DOM
9. 2026-06-10
   days on market $149,000 Active 42 DOM
10. 2026-06-09
    days on market $149,000 Active 41 DOM
11. 2026-06-08
    days on market $149,000 Active 40 DOM
12. 2026-06-07
    days on market $149,000 Active 39 DOM
13. 2026-06-05
    days on market $149,000 Active 36 DOM
14. 2026-06-02
    days on market $149,000 Active 34 DOM
15. 2026-06-01
    days on market $149,000 Active 33 DOM
16. 2026-05-31
    days on market $149,000 Active 32 DOM
17. 2026-05-30
    days on market $149,000 Active 31 DOM
18. 2026-04-29
    listed $149,000 Active 243-char remark
19. 2025-12-03
    historical 275-char remark

    Show marketing remark (275 chars)

    Residential building needs renovation and repairs. On a nice half acre lot the renovation will be worth it. Approximately 3000 square feet will make a beautiful home in Cleveland, TN of of Hwy 64. Priced only reduced to $119,900 Bring offers. All offers will be considered!

20. 2025-12-03
    listed $119,900 275-char remark

    Show marketing remark (275 chars)

    Residential building needs renovation and repairs. On a nice half acre lot the renovation will be worth it. Approximately 3000 square feet will make a beautiful home in Cleveland, TN of of Hwy 64. Priced only reduced to $119,900 Bring offers. All offers will be considered!

21. 2023-04-26
    listed $119,900
22. 2021-06-01
    listed $79,900

ⓘ 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: $488 · $41/mo
• Projected year-2 tax: $1,058 · $88/mo
• Expected delta: +$570/yr (+$47/mo · 116.8%)

ⓘ 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 6/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $24,294
• − Mortgage interest: −$8,346
• − Property taxes: −$488
• − Insurance: −$745
• − Repairs & maintenance: −$1,943
• − Management: −$1,943
• − Depreciation: −$4,335
• Taxable income: $6,493
• Est. tax owed @ 24.0%: −$1,558
• After-tax cash flow: $7,024/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: Bradley County
• NCES district ID: 4700330
• Math proficiency: 35% ▼ -5.00%
• Reading proficiency: 34% ▼ -2.00%
• Median HH income: $45,807
• Composite: 29.54/100
• National rank: #6494
• State rank: #33 of 139 in TN

Livability — Cleveland

• Score: 70/100
• State rank: #55
• US rank: #7689

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Bradley County · 99,337 people
• City population: 99,337
• Metro: Cleveland, TN
• Population (ZIP): 31,948
• Household income: $68,768
• Rent vs Own: 19.7% rent · 80.3% own
• Severe rent burden: 371.0

Population outlook (Bradley County) Hauer SSP2

• Today (2025): 114,901 people
• By 2030: 120,137 · +4.6%
• By 2040: 130,125 · +13.2%
• By 2050: 139,257 · +21.2%
• By 2075: 161,664 · +40.7%
• By 2100: 179,767 · +56.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 7% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Subsaharan African 2% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% Russian/Polish/Slavic 2%

Political lean MEDSL · Bradley

• 2024 margin: Solid R (+58.9) · D 20.0% · R 78.9% · Other 1.1%
• 2008→2024 swing: -9.2pp toward R · 2008: -49.7pp · 2024: -58.9pp
• All cycles: 2024: R+58.9 2020: R+55.3 2016: R+59.1 2012: R+53.9 2008: R+49.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.38%
• Current HPI: 287.3643
• Rent YoY: —
• Metro: Cleveland, TN
• 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

+86.5% since first listed

5 events — show timeline

• 2026-04-29 Listed $149,000 RCAOR
• 2025-12-03 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2025-12-03 Listed $119,900 REALTRACS as Distributed by MLS Grid
• 2023-04-26 Listed $119,900 RCAOR
• 2021-06-01 Listed $79,900 RCAOR

Property tax history

-11.2%/yr

Latest (2025): $488 · +293.5% YoY. Source: county tax records.