1119 Comstock Ave · Columbia, TN 38401

$166,000

4 bd · 2.0 ba · 1,512 sqft · MultiFamily public records · 1 Days on market

Built 1955 5,000 sqft lot Est $168k · at est.

---

Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +8.0/15.0
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Great investment opportunity! Property is a Duplex 3 bed, 1 bath, and a 2 bed, 1 bath. 1119A and 1119B to be sold together. Window units : 2 in front unit and 1 in back unit. Plumbing has pvc pipes and there have been no issues. The roof was replaced in 2025 with a metal roof. Electrical was replaced several years ago. Has 2 separate breakers;

Key facts

• Separate breakers
• Window units
• Metal roof

Tags

• DUPLEX
• WINDOW UNITS
• PLUMBING HAS PVC PIPES
• METAL ROOF
• SEPARATE BREAKERS

Property features AI

Finance

• Other: Property type: Residential income; Zoning: Commercial; Total units: 2; Total living area reported: 1,512 (assessor)
• Financial info: Gross income reported: $2,100; Net operating income reported: $1,500; Owner pays: Other; Tenant pays: Other; Annual tax amount: $885

Exterior

• Parking: No covered spaces reported; No designated parking total reported
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Duplex (attached property); One story
• Construction: Frame construction; Metal roof
• Exterior features: Lot dimensions approximately 50 x 100; Water available

Interior

• Bedrooms: One 3-bedroom unit; One 2-bedroom unit
• Flooring: Laminate
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Wall furnace; Wall/window unit(s) for cooling
• Interior features: Laminate flooring; Wall furnace heating; Wall/window air conditioning units; Smoke detector(s)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $166k.

Deal economics

• At list price, monthly cash flow is $904 ($11k/yr) — positive. Per door: $452/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $166k).
• Cap rate 12.8% vs local median 2.8% 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.

Location & tenants

• 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: J. Brown Elementary (math 17% / reading 12%, grade F, #753 of 952 statewide, top 81%, 335 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.
• Market conditions: Rents rising fast (+5.0%/yr); 1118 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d 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).
• This rent runs 43% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• 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.
• Maury County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $46k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $40k; list at $166k implies a 315% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.46% ✓
• Cap rate: 12.83%
• Cash-on-cash: 23.34%
• DSCR: 2.04
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $167,832
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
913 S High St	0.51mi	3/3.0 (-1)	1,701 (+12%)	3mo	$189,000	$111	44

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 · 4.97% rent growth · sell at horizon

5-year hold

• IRR: 18.4%
• Equity multiple: 1.76×
• Total profit: $35,530
• Equity at exit: $24,751

10-year hold

• IRR: 28.1%
• Equity multiple: 3.71×
• Total profit: $125,838
• Equity at exit: $14,353

Cash invested: $46,480 (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 38401

• Home prices YoY: -22.7%
• Rents YoY: 5.0%
• Active inventory: 1118
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $2,427 high
• Mortgage (P&I): −$871
• Tax from tax record: −$74 /mo · $885/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$510
• Net cashflow: $904

Break-even live

Break-even rent $1,283

Max offer price $166,000

Occupancy floor 58%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,428
Total (2 units)			$2,427

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: $41,500
• Closing costs: $4,980
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
505 Washington St Columbia, TN	3.0	2.0	1241	$1,950	$1.57	43d	1	0.18mi
107 E 9th St Unit D-7 Columbia, TN	3.0	3.5	2060	$2,550	$1.24	17d	1	0.32mi
915 Mapleash Ave Columbia, TN	4.0	2.0	1308	$1,995	$1.53	43d	1	0.37mi
908 Mapleash Ave Columbia, TN	3.0	2.0	1112	$1,750	$1.57	17d	1	0.39mi
329 E 18th St Columbia, TN	3.0	3.0	1720	$1,795	$1.04	43d	1	0.61mi
615 N High St Unit B Columbia, TN	3.0	2.5	1200	$1,300	$1.08	23d	1	0.73mi
100 Stonebridge Way Columbia, TN	2.0–3.0	2.0	1067	$1,485	$1.39	1d	4	0.83mi
202 3rd Ave Columbia, TN	3.0	1.5	1600	$2,000	$1.25	2d	1	0.92mi
405 Fleming St Columbia, TN	3.0	2.0	1470	$1,700	$1.16	44d	1	1.15mi
1923 Woodmont Dr Columbia, TN	3.0	1.0	1222	$1,700	$1.39	23d	1	1.27mi
600 Hallmark Dr Columbia, TN	3.0	2.0	1138	$1,479	$1.30	43d	3	1.28mi
326 Seaton Way Columbia, TN	3.0	2.5	1601	$1,800	$1.12	43d	1	1.49mi

Listing history 2 events

1. 2026-06-18
   remarks 345-char remark
2. 2026-06-18
   listed $166,000 Active 1 DOM

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

Tax reassessment forecast TN · Resets to sale price

• Current annual tax: $885 · $74/mo
• Projected year-2 tax: $1,179 · $98/mo
• Expected delta: +$294/yr (+$24/mo · 33.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% 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: $29,124
• − Mortgage interest: −$9,299
• − Property taxes: −$885
• − Insurance: −$830
• − Repairs & maintenance: −$2,330
• − Management: −$2,330
• − Depreciation: −$4,829
• Taxable income: $8,621
• Est. tax owed @ 24.0%: −$2,069
• After-tax cash flow: $8,778/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: Maury County
• NCES district ID: 4702760
• Math proficiency: 19% ▼ -5.00%
• Reading proficiency: 21% ▼ -4.00%
• Median HH income: $47,668
• Composite: 17.69/100
• National rank: #9024
• State rank: #108 of 139 in TN

Livability — Columbia

• Score: 63/100
• State rank: #207
• US rank: #16090

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbia, TN
• County: Maury County · 121,382 people
• City population: 67,482
• Metro: Nashville-Davidson--Murfreesboro--Franklin, TN
• Population (ZIP): 67,482
• Household income: $68,475
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 2026.0

Population outlook (Maury County) Hauer SSP2

• Today (2025): 102,894 people
• By 2030: 110,269 · +7.2%
• By 2040: 124,426 · +20.9%
• By 2050: 137,543 · +33.7%
• By 2075: 167,438 · +62.7%
• By 2100: 184,489 · +79.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 12% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 1% Serbian 1% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Maury

• 2024 margin: Solid R (+44.6) · D 27.1% · R 71.8% · Other 1.1%
• 2008→2024 swing: -6.2pp toward R · 2008: -38.4pp · 2024: -44.6pp
• All cycles: 2024: R+44.6 2020: R+36.5 2016: R+39.2 2012: R+26.9 2008: R+38.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.75%
• Current HPI: 343.0362
• Rent YoY: ▲ 4.97%
• Metro: Nashville-Davidson--Murfreesboro--Franklin, TN
• 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

+315.0% since first listed

3 events — show timeline

• 2026-06-18 Listed $166,000 REALTRACS as Distributed by MLS Grid
• 2026-06-18 Coming Soon $166,000 REALTRACS as Distributed by MLS Grid
• 2016-03-23 Sold (Public Records) $40,000 Public Records

Property tax history

+6.9%/yr

Latest (2025): $885 · +0.0% YoY. Source: county tax records.