4777 Old Dunlap Rd

Griffith Creek, TN 37397

$58,000B

2 bd · 1.0 ba · 644 sqft · Built 1988 · Other · Pending · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $814/mo
• Mortgage (P&I): −$304
• Tax + insurance: −$97
• HOA: −$0
• Vac / Maint / Mgmt: −$171
• Net cashflow: $242/mo
• Annual: $2,910/yr
• Cap rate: 11.31%
• Cash-on-cash: 17.92%
• DSCR: 1.80
• 1% rule: 1.40%
• Cash to close: $16,240

Investor read

• This is a 2-bed/1.0-bath other listed at $58k.
• At list price, monthly cash flow is $242 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($814 rent vs $58k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($401 loan paydown + $3k appreciation (4.8% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Marion County (town): math 24% / reading 25% proficiency, ranked #89 of 139 in TN (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Whitwell Elementary (math 47% / reading 37%, grade F, #191 of 952 statewide, top 22%, 492 students, 0% FRL); Whitwell Middle School (math 23% / reading 19%, grade F, #187 of 333 statewide, top 58%, 308 students, 0% FRL); Whitwell High School (math 12% / reading 32%, grade F, #163 of 332 statewide, top 51%, 343 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: 80 active listings in the ZIP; 225 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
• At projected returns (4.8% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 8→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.