1612 Columbia Ave

Columbia, TN 38401

$155,000B

4 bd · 1.0 ba · 1,165 sqft · Built 1950 · SingleFamily · Active · 139 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,890/mo
• Mortgage (P&I): −$813
• Tax + insurance: −$132
• HOA: −$0
• Vac / Maint / Mgmt: −$397
• Net cashflow: $549/mo
• Annual: $6,588/yr
• Cap rate: 10.54%
• Cash-on-cash: 15.18%
• DSCR: 1.68
• 1% rule: 1.22%
• Cash to close: $43,400

Investor read

• This is a 4-bed/1.0-bath single-family listed at $155k. Condition is rated fair.
• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• It's been on market 139 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#207 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, crime F.
• Maury County (town): math 19% / reading 21% proficiency, ranked #108 of 139 in TN (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Highland Park Elementary (math 22% / reading 17%, grade F, #654 of 952 statewide, top 72%, 291 students, 0% FRL); Whitthorne Middle School (math 8% / reading 12%, grade F, #257 of 333 statewide, top 78%, 932 students, 0% FRL); Columbia Central High School (math 7% / reading 27%, grade F, #225 of 332 statewide, top 69%, 1,474 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+5.0%/yr); 1327 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 33d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,650 units permitted in Maury County in 2024 (60 in 5+ unit buildings).
• Maury County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $45k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $27k; list at $155k implies a 469% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $43k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.5% vs local median 3.0% in Columbia — 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

• It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Landscaping — Overgrown vegetation
• Moderate: Exterior paint — Needs touch-up