134 W College St · Henry, TN 38231

$19,200

2 bd · 2.0 ba · 768 sqft · SingleFamily · 82 Days on market

Built 1927 Poor condition 6,098 sqft 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 +15.0/30.0
• Appreciation +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +1.0/5.0

Listing remarks

INVESTORS CHECK OUT THIS. Buyer/buyers agent to verify any/all pertinent information. Do not approach homes without contacting sellers agent. Home is occupied. Listed for tax appraisal amount. Any offers will be presented. Will sell below tax appraisal amount.

Key facts

• 6,098 sq ft lot
• Built 1927
• Listed 82 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Septic tank sewer
• Home design: Single-family residence; One-story
• Construction: Built with other/unspecified construction materials
• Exterior features: No exterior features listed; No fencing

Interior

• Bedrooms: One bedroom on the main level
• Bathrooms: Two full bathrooms
• Heating & cooling: No heating system specified; No cooling system specified
• Interior features: No built-in appliances listed; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $19k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $529 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($837 rent vs $19k).
• Recommended offer: $18k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#334 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: health & safety C-, crime F, amenities F.
• Henry County (rural): math 30% / reading 30% proficiency, ranked #60 of 139 in TN (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Henry Elementary (math 32% / reading 22%, grade F, #496 of 952 statewide, top 55%, 335 students, 0% FRL) — zoned schools average 0% FRL vs 55% district-wide (55 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 13 active listings in the ZIP; 19 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($133 loan paydown + $2k appreciation (7.9% local appreciation)).
• Henry County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (7.9% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($18k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $18,048 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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.
9. 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.
10. 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: 4.36% ✓
• Cap rate: 39.34%
• Cash-on-cash: 118.02%
• DSCR: 6.25
• GRM: 1.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.70×
• Total profit: $41,421
• Equity at exit: $14,398

10-year hold

• IRR: —
• Equity multiple: 18.70×
• Total profit: $95,180
• Equity at exit: $28,403

Cash invested: $5,376 (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 38231

• Home prices YoY: 2.8%
• Active inventory: 13
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $837 medium
• Mortgage (P&I): −$101
• Tax est. 1.5%: −$24 /mo · $288/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$176
• Net cashflow: $529

Break-even live

Break-even rent $168

Max offer price $19,200

Occupancy floor 32%

Sensitivity live

Price	-10% $542	-5% $535	+0% $529	+5% $522	+10% $515
Rent	-10% $463	-5% $496	+0% $529	+5% $562	+10% $595
Rate	-1.0pp $538	-0.5pp $534	base $529	+0.5pp $524	+1.0pp $519

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: $4,800
• Closing costs: $576
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $19,200 Active 82 DOM
2. 2026-06-18
   days on market $19,200 Active 80 DOM
3. 2026-06-17
   days on market $19,200 Active 79 DOM
4. 2026-06-16
   days on market $19,200 Active 78 DOM
5. 2026-06-15
   days on market $19,200 Active 77 DOM
6. 2026-06-13
   days on market $19,200 Active 75 DOM
7. 2026-06-12
   days on market $19,200 Active 74 DOM
8. 2026-06-09
   days on market $19,200 Active 71 DOM
9. 2026-06-08
   days on market $19,200 Active 70 DOM
10. 2026-06-08
    days on market $19,200 Active 69 DOM
11. 2026-06-07
    days on market $19,200 Active 68 DOM
12. 2026-06-03
    days on market $19,200 Active 65 DOM
13. 2026-06-02
    days on market $19,200 Active 64 DOM
14. 2026-06-01
    days on market $19,200 Active 63 DOM
15. 2026-05-31
    days on market $19,200 Active 62 DOM
16. 2026-03-30
    listed $19,200 Active

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,047
• − Mortgage interest: −$1,075
• − Property taxes: −$288
• − Insurance: −$96
• − Repairs & maintenance: −$804
• − Management: −$804
• − Depreciation: −$559
• Taxable income: $6,422
• Est. tax owed @ 24.0%: −$1,541
• After-tax cash flow: $4,804/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.

Condition & rehab AI · 2 photos

Poor 20/100 Extensive rehab

This home requires extensive repairs, including a new roof and siding, to improve its condition and value. Significant updates are needed to make it move-in ready.

Repairs flagged

• Major roof — Damaged shingles
• Major exterior siding — Peeling paint and siding damage

Value-add opportunities

• Resale new roof — A new roof would significantly improve the home's appearance and value
• Resale new siding and paint — New siding and paint would enhance the home's curb appeal and value
• Both interior updates — Interior updates would improve the home's livability and attract more buyers/renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Damaged shingles	Major	$15,000–50,000
exterior siding · Peeling paint and siding damage	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Resale new roof — A new roof would significantly improve the home's appearance and value ↑
• Resale new siding and paint — New siding and paint would enhance the home's curb appeal and value ↑
• Both interior updates — Interior updates would improve the home's livability and attract more buyers/renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Henry County
• NCES district ID: 4701830
• Math proficiency: 30% ▼ -3.00%
• Reading proficiency: 30% ▼ -6.00%
• Median HH income: $41,770
• Composite: 25.42/100
• National rank: #7457
• State rank: #60 of 139 in TN

Livability — Henry

• Score: 57/100
• State rank: #334
• US rank: #22148

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Henry, TN
• Population (ZIP): 2,012

Population outlook (Henry County) Hauer SSP2

• Today (2025): 31,750 people
• By 2030: 31,277 · -1.5%
• By 2040: 30,064 · -5.3%
• By 2050: 28,675 · -9.7%
• By 2075: 25,767 · -18.8%
• By 2100: 22,318 · -29.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Black 6% Two or more races 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Serbian 2% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+55.3) · D 21.8% · R 77.1% · Other 1.1%
• 2008→2024 swing: -33.0pp toward R · 2008: -22.4pp · 2024: -55.3pp
• All cycles: 2024: R+55.3 2020: R+51.1 2016: R+49.8 2012: R+30.2 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.86%
• Current HPI: 290.6775
• 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

1 event — show timeline

• 2026-03-30 Listed $19,200 TVAR