Vanderbilt Plan

Nolensville, TN 37014

$905,990D

4 bd · 3.5 ba · 3,205 sqft · Built — · SingleFamily · Active · 374 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,500/mo
• Mortgage (P&I): −$4,712
• Tax + insurance: −$1,498
• HOA: −$0
• Vac / Maint / Mgmt: −$1,365
• Net cashflow: $-1,074/mo
• Annual: $-12,892/yr
• Cap rate: 4.86%
• Cash-on-cash: -5.12%
• DSCR: 0.77
• 1% rule: 0.72%
• Cash to close: $251,581

Investor read

• This is a 4-bed/3.5-bath single-family listed at $906k.
• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $743k (18.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $650k (28.3% below list).
• It's been on market 374 days — a 12% lower offer ($797k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $650k (28.3% below list) — sets the bar for 1% rule.
• In year one you build about $65k of equity ($6k loan paydown + $59k appreciation (6.5% local appreciation)).
• Location reads 79/100 on livability (#2 in TN, #2,317 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities D+, commute F, cost of living F.
• Williamson County (rural): math 58% / reading 59% proficiency, ranked #1 of 139 in TN (top 1%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 9% free/reduced lunch — higher-income household profile.
• Market conditions: 124 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,994 units permitted in Williamson County in 2024 (637 in 5+ unit buildings).
• Williamson County population projected at +59% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$104k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 4.9% vs local median 2.2% in Nolensville — 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

• 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?
• It's been on market 374 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
• 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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.