204 Community Dr · Madisonville, TN 37354

$219,500

3 bd · 2.0 ba · 1,568 sqft · Manufactured · 73 Days on market

Built 2016 Good condition 0.92 ac lot Est $260k · 16% under ↓ 4% 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).

• Cash flow +14.8/30.0
• ARV discount +14.6/15.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

On almost a full acre this Remodeled Home sits on a permanent foundation and offers country living just outside town! It has 3 Bedrooms and 2 full Baths, a large open concept floor plan and appliances are included. Updates include a new roof, new flooring and paint throughout, new HVAC indoors and out, a new covered front porch and a new back deck. The yard has been seeded and the driveway is extra long offering tons of off street parking. Super convenient location off New Hwy 68! Buyer to verify all details.

Key facts

• Large open concept
• New flooring
• New paint

Tags

• REMODELED HOME
• PERMANENT FOUNDATION
• LARGE OPEN CONCEPT
• NEW ROOF
• NEW FLOORING
• NEW PAINT

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Septic tank
• Home design: Detached property; 1,568 building area (owner provided)
• Construction: Vinyl siding; Frame construction; Crawl space basement
• Exterior features: Wooded lot; Level lot; Country setting views

Interior

• Kitchen: Dishwasher; Refrigerator
• Flooring: Laminate flooring; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Heat pump; Electric heating; Ceiling fan(s)
• Interior features: Walk-in closet(s); Eat-in kitchen; 8 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $220k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $60 ($723/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (9.0% below list).
• Recommended offer: $200k (9.0% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 2.8% in Madisonville — 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 63/100 on livability (#188 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, amenities F.
• Monroe County (rural): math 20% / reading 24% proficiency, ranked #106 of 139 in TN (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Madisonville Primary (563 students, 0% FRL); Madisonville Middle School (math 15% / reading 20%, grade F, #215 of 333 statewide, top 65%, 428 students, 0% FRL); Sequoyah High School (math 20% / reading 32%, grade F, #117 of 332 statewide, top 37%, 806 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: 166 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 157 units permitted in Monroe County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($206k) is reasonable based on typical stale-listing flexibility.

Recommended offer $199,643 (9.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. Crime grade is D 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.91% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.18%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $260,288
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
248 Community Dr	0.22mi	3/2.0	1,568 (0%)	2mo	$285,000	$182	88
208 Community Dr	0.15mi	3/2.0	1,568 (0%)	12mo	$250,000	$159	83
141 Hill Loop Rd Loop	0.30mi	3/2.0	1,568 (0%)	12mo	$269,000	$172	76
230 Hill Loop	0.51mi	3/2.0	1,568 (0%)	2mo	$257,500	$164	75
143 Hill Loop Cir	0.30mi	3/2.0	1,596 (+2%)	12mo	$274,000	$172	72
254 Community Dr	0.25mi	3/2.0	1,568 (0%)	19mo	$256,000	$163	72
216 Community Dr	0.15mi	4/2.0 (+1)	1,568 (0%)	24mo	$237,500	$151	69
314 Warren St	0.72mi	3/2.0	1,568 (0%)	3mo	$199,000	$127	64
145 Hill Loop Cir	0.31mi	3/2.0	1,680 (+7%)	12mo	$279,000	$166	64
536 Toomey Ln	0.25mi	3/2.0	1,493 (-5%)	23mo	$268,400	$180	62

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.4%
• Equity multiple: 0.48×
• Total profit: $-31,700
• Equity at exit: $32,728

10-year hold

• IRR: -5.7%
• Equity multiple: 0.63×
• Total profit: $-22,539
• Equity at exit: $18,978

Cash invested: $61,460 (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 37354

• Home prices YoY: -20.5%
• Active inventory: 166
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,996 medium
• Mortgage (P&I): −$1,151
• Tax est. 1.5%: −$274 /mo · $3,292/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $60

Break-even live

Break-even rent $1,920

Max offer price $219,500

Occupancy floor 92%

Sensitivity live

Price	-10% $212	-5% $136	+0% $60	+5% $-16	+10% $-91
Rent	-10% $-97	-5% $-19	+0% $60	+5% $139	+10% $218
Rate	-1.0pp $171	-0.5pp $116	base $60	+0.5pp $3	+1.0pp $-54

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: $54,875
• Closing costs: $6,585
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
188 Park Ave Madisonville, TN	3.0	2.0	1428	$2,300	$1.61	16d	1	0.88mi
118 Bradley Dr Madisonville, TN	3.0	2.0	1680	$2,000	$1.19	25d	1	0.89mi
508 3rd St Madisonville, TN	3.0	2.0	1800	$1,450	$0.81	25d	1	1.49mi

Listing history 20 events

1. 2026-06-22
   days on market $219,500 Active 73 DOM
2. 2026-06-18
   days on market $219,500 Active 70 DOM
3. 2026-06-17
   days on market $219,500 Active 69 DOM
4. 2026-06-16
   days on market $219,500 Active 68 DOM
5. 2026-06-15
   days on market $219,500 Active 67 DOM
6. 2026-06-14
   days on market $219,500 Active 65 DOM
7. 2026-06-13
   days on market $219,500 Active 64 DOM
8. 2026-06-10
   days on market $219,500 Active 62 DOM
9. 2026-06-09
   days on market $219,500 Active 61 DOM
10. 2026-06-08
    days on market $219,500 Active 60 DOM
11. 2026-06-07
    days on market $219,500 Active 59 DOM
12. 2026-06-05
    days on market $219,500 Active 56 DOM
13. 2026-06-03
    days on market $219,500 Active 55 DOM
14. 2026-06-03
    price $219,500 Active 54 DOM
15. 2026-06-02
    days on market $229,000 Active 54 DOM
16. 2026-06-01
    days on market $229,000 Active 53 DOM
17. 2026-05-31
    days on market $229,000 Active 52 DOM
18. 2026-05-31
    days on market $229,000 Active 51 DOM
19. 2026-04-18
    price $229,000
20. 2026-04-09
    listed $239,000 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: $23,957
• − Mortgage interest: −$12,295
• − Property taxes: −$3,292
• − Insurance: −$1,098
• − Repairs & maintenance: −$1,917
• − Management: −$1,917
• − Depreciation: −$6,385
• Taxable loss: −$2,947
• Est. tax savings @ 24.0%: +$707
• After-tax cash flow: $1,430/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 · 12 photos

Good 80/100 Cosmetic rehab

This remodeled manufactured home is in good condition with new updates throughout, making it a great investment opportunity.

Value-add opportunities

• Both Landscaping and curb appeal — Enhances curb appeal and can attract more buyers
• Both Painting exterior — Fresh paint can make the home look more appealing
• Both Landscaping and curb appeal — Enhances curb appeal and can attract more buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal — Enhances curb appeal and can attract more buyers ↑
• Both Painting exterior — Fresh paint can make the home look more appealing ↑
• Both Landscaping and curb appeal — Enhances curb appeal and can attract more buyers ↑

ⓘ 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: Monroe County
• NCES district ID: 4703000
• Math proficiency: 20% ▼ -8.00%
• Reading proficiency: 24% ▼ -6.00%
• Median HH income: $36,701
• Composite: 18.29/100
• National rank: #8956
• State rank: #106 of 139 in TN

Livability — Madisonville

• Score: 63/100
• State rank: #188
• US rank: #15127

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 17,421

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 47,571 people
• By 2030: 48,155 · +1.2%
• By 2040: 48,772 · +2.5%
• By 2050: 48,698 · +2.4%
• By 2075: 48,558 · +2.1%
• By 2100: 47,543 · -0.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Hispanic / Latino 3% Black 1%
• Common ancestry: Serbian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Monroe

• 2024 margin: Solid R (+66.8) · D 16.2% · R 83.0%
• 2008→2024 swing: -28.5pp toward R · 2008: -38.3pp · 2024: -66.8pp
• All cycles: 2024: R+66.8 2020: R+62.6 2016: R+59.7 2012: R+45.0 2008: R+38.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -69.48%
• Current HPI: 268.822
• 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

-4.2% since first listed

2 events — show timeline

• 2026-04-18 Price Changed $229,000 Knoxville MLS
• 2026-04-09 Listed $239,000 Knoxville MLS