121 Hudgens Ct · Cookeville, TN 38501

$1,750

2 bd · 2.0 ba · 1,208 sqft · SingleFamily · 41 Days on market

Built 2019 2,890 sqft lot $1/sqft · 99% below area $55/mo HOA · 4% of rent

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

FOR LEASE - One level condo in town-right off the courthouse square. 2 bedroom/2 bath with 2 car garage, vaulted ceiling in the living area, granite countertops, tall cabinets, kitchen appliances, washer/dryer, real hardwood floors, courtyard in the back.

Key facts

• Kitchen appliances
• Real hardwood floors
• One level condo

Tags

• ONE LEVEL CONDO
• GRANITE COUNTERTOPS
• TALL CABINETS
• KITCHEN APPLIANCES
• REAL HARDWOOD FLOORS
• COURTYARD

🏷️ Possibly a rental listed for sale. The $1,750 price doesn't fit this home's estimated sale value (~$213,334) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $2k).
• Recommended offer: $2k (3.0% below list) — sets the bar for market timing.
• Cap rate 755.0% vs local median 3.1% in Cookeville — 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 76/100 on livability (#11 in TN, #3,551 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: schools D-, commute F, employment F.
• Putnam County (town): math 32% / reading 31% proficiency, ranked #49 of 139 in TN (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-1.4%/yr); 285 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 700 units permitted in Putnam County in 2024 (48 in 5+ unit buildings).
• This rent runs 34% of the median local income ($52k/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 $12 of loan paydown is wiped out by about $52 of value loss. Plan a longer hold.
• Putnam County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $490 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($2k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $100 (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $1,697 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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: 83.83% ✓
• Cap rate: 755.04%
• Cash-on-cash: 2674.10%
• DSCR: 119.98
• GRM: 0.1

CMA / ARV

• ARV (median comp): $213,334
• List price: $1,750
• Delta: -99.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
125 Hudgens Ct	0.02mi	2/2.0	1,208 (0%)	1mo	$315,000	$261	98
121 Hudgens Ct	0.00mi	2/2.0	1,208 (0%)	2mo	$330,000	$273	98
649 Freeze St	0.41mi	2/2.0	1,164 (-4%)	17mo	$186,000	$160	61
580 E 3rd St	0.49mi	3/2.0 (+1)	1,192 (-1%)	24mo	$249,000	$209	50
338 Clover Ave	0.50mi	3/2.0 (+1)	1,186 (-2%)	24mo	$234,500	$198	49
153 Allison Way	0.50mi	3/2.5 (+1)	1,358 (+12%)	2mo	$295,000	$217	48
112 E Stevens St	0.36mi	3/1.0 (+1)	1,294 (+7%)	19mo	$184,500	$143	46
564 E 3rd St	0.48mi	2/2.0	1,385 (+15%)	14mo	$180,000	$130	42
77 Stout St	0.49mi	3/1.0 (+1)	1,086 (-10%)	13mo	$150,000	$138	41
20 Proffitt St	0.44mi	3/1.0 (+1)	1,304 (+8%)	24mo	$217,250	$167	37
1233 Pleasant View Dr	0.71mi	3/1.5 (+1)	1,050 (-13%)	1mo	$225,000	$214	37
423 S Walnut Ave	0.67mi	3/1.0 (+1)	1,377 (+14%)	7mo	$200,000	$145	31

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 133.69×
• Total profit: $65,018
• Equity at exit: $261

10-year hold

• IRR: —
• Equity multiple: 265.85×
• Total profit: $129,778
• Equity at exit: $151

Cash invested: $490 (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 38501

• Home prices YoY: -24.2%
• Rents YoY: -1.4%
• Active inventory: 285
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $1,467 high
• Mortgage (P&I): −$9
• Tax est. 1.5%: −$2 /mo · $26/yr
• Insurance: −$1
• HOA: −$55
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $1,092

Break-even live

Break-even rent $85

Max offer price $1,750

Occupancy floor 21%

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: $438
• Closing costs: $52
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
237 N Maple Ave Cookeville, TN	3.0	2.0	1500	$1,900	$1.27	44d	1	0.39mi
158 King St Cookeville, TN	3.0	1.0	1250	$1,450	$1.16	44d	1	0.41mi
255 Denton Ave Unit A Cookeville, TN	2.0	2.0	1000	$1,400	$1.40	44d	1	0.48mi
49 Stout St Apt B Cookeville, TN	3.0	1.5	1039	$1,195	$1.15	44d	1	0.57mi
800 E Spring St Cookeville, TN	1.0–3.0	1.0–2.5	1325	$1,310	$0.99	44d	27	0.64mi
1117 Womack Ave Cookeville, TN	3.0	1.0	1100	$1,500	$1.36	44d	1	1.15mi
1313 E Hudgens St Cookeville, TN	2.0	2.0	1395	$1,550	$1.11	44d	1	1.30mi
570 W 4th St Unit 1 Cookeville, TN	2.0	1.0	770	$900	$1.17	44d	1	1.32mi
75 E Veterans Dr Cookeville, TN	2.0–3.0	2.0	1273	$1,450	$1.14	44d	4	1.34mi
1375 Belfair ST Cookeville, TN	3.0	2.5	1358	$1,775	$1.31	44d	1	1.36mi
1378 Belfair ST Cookeville, TN	3.0–4.0	2.5	1474	$1,775	$1.20	44d	2	1.36mi
978 N Franklin Ave Unit 1 Cookeville, TN	2.0	1.0	900	$1,050	$1.17	44d	1	1.49mi

HOA detail

• Monthly dues: $55 · $660/yr

Listing history 11 events

1. 2026-06-05
   days on market $1,750 Active 41 DOM
2. 2026-05-31
   days on market $1,750 Active 40 DOM
3. 2026-05-30
   days on market $1,750 Active 39 DOM
4. 2026-05-08
   price $1,750 255-char remark

   Show marketing remark (255 chars)

   FOR LEASE - One level condo in town-right off the courthouse square. 2 bedroom/2 bath with 2 car garage, vaulted ceiling in the living area, granite countertops, tall cabinets, kitchen appliances, washer/dryer, real hardwood floors, courtyard in the back.

5. 2026-04-21
   listed $1,850 Active 255-char remark

   Show marketing remark (255 chars)

   FOR LEASE - One level condo in town-right off the courthouse square. 2 bedroom/2 bath with 2 car garage, vaulted ceiling in the living area, granite countertops, tall cabinets, kitchen appliances, washer/dryer, real hardwood floors, courtyard in the back.

6. 2026-04-14
   historical 312-char remark

   Show marketing remark (312 chars)

   One level condo in town! These units don't come available often-right off the courthouse square. 2 bedroom/2 bath with 2 car garage, vaulted ceiling in the living area, granite countertops, tall cabinets, kitchen appliance, real hardwood floors, courtyard in the back. Zoned for AirBnB! Encapsulated crawlspace.

7. 2026-04-14
   soldstatus $330,000 Closed 312-char remark

   Show marketing remark (312 chars)

   One level condo in town! These units don't come available often-right off the courthouse square. 2 bedroom/2 bath with 2 car garage, vaulted ceiling in the living area, granite countertops, tall cabinets, kitchen appliance, real hardwood floors, courtyard in the back. Zoned for AirBnB! Encapsulated crawlspace.

8. 2026-03-20
   status Pending 312-char remark

   Show marketing remark (312 chars)

   One level condo in town! These units don't come available often-right off the courthouse square. 2 bedroom/2 bath with 2 car garage, vaulted ceiling in the living area, granite countertops, tall cabinets, kitchen appliance, real hardwood floors, courtyard in the back. Zoned for AirBnB! Encapsulated crawlspace.

9. 2026-03-08
   listed $349,900 Active 312-char remark

   Show marketing remark (312 chars)

   One level condo in town! These units don't come available often-right off the courthouse square. 2 bedroom/2 bath with 2 car garage, vaulted ceiling in the living area, granite countertops, tall cabinets, kitchen appliance, real hardwood floors, courtyard in the back. Zoned for AirBnB! Encapsulated crawlspace.

10. 2020-02-07
    soldstatus $224,900
11. 2020-02-06
    listed $224,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 21 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,605
• − Mortgage interest: −$98
• − Property taxes: −$26
• − Insurance: −$9
• − Repairs & maintenance: −$1,408
• − Management: −$1,408
• − HOA: −$660
• − Depreciation: −$51
• Taxable income: $13,945
• Est. tax owed @ 24.0%: −$3,347
• After-tax cash flow: $9,756/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: Putnam County
• NCES district ID: 4703480
• Math proficiency: 32% ▼ -6.00%
• Reading proficiency: 31% ▼ -5.00%
• Median HH income: $35,738
• Composite: 26.09/100
• National rank: #7291
• State rank: #49 of 139 in TN

Livability — Cookeville

• Score: 76/100
• State rank: #11
• US rank: #3551

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cookeville, TN
• County: Putnam County · 72,571 people
• City population: 72,571
• Metro: Cookeville, TN
• Population (ZIP): 42,471
• Household income: $52,145
• Rent vs Own: 51.1% rent · 48.9% own
• Severe rent burden: 2410.0

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 80,122 people
• By 2030: 82,798 · +3.3%
• By 2040: 87,913 · +9.7%
• By 2050: 92,659 · +15.6%
• By 2075: 104,965 · +31.0%
• By 2100: 113,256 · +41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 9% Two or more races 6% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 5% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Putnam

• 2024 margin: Solid R (+47.4) · D 25.7% · R 73.1% · Other 1.1%
• 2008→2024 swing: -20.5pp toward R · 2008: -26.9pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+43.4 2016: R+45.0 2012: R+37.1 2008: R+26.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.19%
• Current HPI: 285.6959
• Rent YoY: ▼ -1.45%
• Metro: Cookeville, 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

-99.2% since first listed

8 events — show timeline

• 2026-05-08 Price Changed $1,750 UCMLS
• 2026-04-21 Listed $1,850 UCMLS
• 2026-04-14 Delisted — UCMLS
• 2026-04-14 Sold (MLS) $330,000 UCMLS
• 2026-03-20 Pending — UCMLS
• 2026-03-08 Listed $349,900 UCMLS
• 2020-02-07 Sold (MLS) $224,900 UCMLS
• 2020-02-06 Listed $224,900 UCMLS