303 Cassie Dr · Lafayette, TN 37083

$279,900

3 bd · 2.0 ba · 1,500 sqft · SingleFamily · 38 Days on market

Built 2025 10,018 sqft lot ↓ 10% since listing

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.8/30.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +1.0/10.0

Listing remarks

Ladies and Gentlemen what a Amazing Brand New home right here inside the city limits of Lafayette with a open floor plan, granite countertops, amazing cabinetry and some custom shelving in the closets to just name a few!!!!!! This home is within seconds from key park and just a few minutes from all of Lafayette's amenities, come look at this New Home.

Key facts

• Open floor plan
• Lafayette amenities
• Custom shelving

Tags

• OPEN FLOOR PLAN
• GRANITE COUNTERTOPS
• CUSTOM SHELVING
• LAFAYETTE AMENITIES

Property features AI

Finance

• Other: Living area approx. 1,500 square feet (agent measured)
• HOA & community: 2+ common walls

Exterior

• Parking: Asphalt parking
• Utilities: Public water; Public sewer; Water available
• Home design: Single family residence (attached); One story; New construction
• Construction: Brick and vinyl siding exterior; Block foundation
• Exterior features: Lot about 0.23 acres; Calculated from plat

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Kitchen approx. 13 x 21
• Bedrooms: 3 bedrooms (all on the main level); Primary bedroom approx. 12 x 16; Two additional bedrooms each approx. 10 x 13 with walk-in closets
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Crawl space basement; Laminate flooring

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $-433 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $217k (22.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (32.1% below list).
• Recommended offer: $190k (32.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#80 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A-; Watch: amenities F, commute F, employment F.
• Macon County (rural): math 34% / reading 29% proficiency, ranked #53 of 139 in TN (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central Elementary (math 42% / reading 32%, grade F, #272 of 952 statewide, top 31%, 450 students, 0% FRL); Macon County High School (math 21% / reading 32%, grade F, #112 of 332 statewide, top 35%, 967 students, 0% FRL) — zoned schools average 0% FRL vs 53% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 179 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 181 units permitted in Macon County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Macon County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $190,000 (32.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.68% ✗
• Cap rate: 4.44%
• Cash-on-cash: -6.63%
• DSCR: 0.70
• GRM: 12.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.6%
• Equity multiple: 2.59×
• Total profit: $124,871
• Equity at exit: $252,156

10-year hold

• IRR: 18.0%
• Equity multiple: 5.97×
• Total profit: $389,485
• Equity at exit: $543,784

Cash invested: $78,372 (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 37083

• Home prices YoY: 8.8%
• Active inventory: 179
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $1,900 medium
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,198/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $-433

Break-even live

Break-even rent $2,449

Max offer price $217,197

Occupancy floor —

Sensitivity live

Price	-10% $-240	-5% $-337	+0% $-433	+5% $-530	+10% $-627
Rent	-10% $-583	-5% $-508	+0% $-433	+5% $-358	+10% $-283
Rate	-1.0pp $-292	-0.5pp $-362	base $-433	+0.5pp $-506	+1.0pp $-580

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Apache Pt Lafayette, TN	3.0	2.0	1300	$1,900	$1.46	44d	1	0.64mi
203 Cherokee Dr Lafayette, TN	3.0	2.0	1300	$1,900	$1.46	44d	1	0.65mi
217 Cherokee Dr Unit 16 Lafayette, TN	3.0	2.0	1200	$1,900	$1.58	44d	1	0.72mi

Listing history 9 events

1. 2026-05-01
   status Pending
2. 2026-04-26
   price $279,900
3. 2026-04-14
   price $284,900
4. 2026-03-24
   listed $289,900 Active
5. 2026-03-17
   historical
6. 2026-01-16
   price $289,900
7. 2026-01-07
   price $294,900
8. 2025-11-22
   price $299,900
9. 2025-11-18
   listed $309,900 Active

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

Taxation est. · year 1

• Rental income: $22,800
• − Mortgage interest: −$15,679
• − Property taxes: −$4,198
• − Insurance: −$1,400
• − Repairs & maintenance: −$1,824
• − Management: −$1,824
• − Depreciation: −$8,143
• Taxable loss: −$10,267
• Est. tax savings @ 24.0%: +$2,464
• After-tax cash flow: $-2,736/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: Macon County
• NCES district ID: 4702550
• Math proficiency: 34% ▼ -4.00%
• Reading proficiency: 29% ▼ -3.00%
• Median HH income: $34,280
• Composite: 25.97/100
• National rank: #7329
• State rank: #53 of 139 in TN

Livability — Lafayette

• Score: 68/100
• State rank: #80
• US rank: #9247

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lafayette, TN
• Population (ZIP): 16,887

Population outlook (Macon County) Hauer SSP2

• Today (2025): 24,618 people
• By 2030: 25,337 · +2.9%
• By 2040: 26,739 · +8.6%
• By 2050: 27,822 · +13.0%
• By 2075: 30,614 · +24.4%
• By 2100: 31,851 · +29.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 1% Slovak 1% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Macon

• 2024 margin: Solid R (+74.3) · D 12.4% · R 86.7%
• 2008→2024 swing: -54.8pp toward R · 2008: -19.6pp · 2024: -74.3pp
• All cycles: 2024: R+74.3 2020: R+71.6 2016: R+69.3 2012: R+53.7 2008: R+19.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 31.33%
• Current HPI: 388.8726
• 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

-9.7% since first listed

9 events — show timeline

• 2026-05-01 Pending — REALTRACS as Distributed by MLS Grid
• 2026-04-26 Price Changed $279,900 REALTRACS as Distributed by MLS Grid
• 2026-04-14 Price Changed $284,900 REALTRACS as Distributed by MLS Grid
• 2026-03-24 Listed $289,900 REALTRACS as Distributed by MLS Grid
• 2026-03-17 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2026-01-16 Price Changed $289,900 REALTRACS as Distributed by MLS Grid
• 2026-01-07 Price Changed $294,900 REALTRACS as Distributed by MLS Grid
• 2025-11-22 Price Changed $299,900 REALTRACS as Distributed by MLS Grid
• 2025-11-18 Listed $309,900 REALTRACS as Distributed by MLS Grid