123 Hard Rector Ln · Spring City, TN 37381

$75,000

4 bd · 1.0 ba · 1,440 sqft · Manufactured public records · 7 Days on market

Built 1976 5.70 ac lot $52/sqft · 60% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Doublewide on over 5 acres a the base of a mountain across from Piney River. Appalachian living awaits. This home has potential as a remodel or total rebuild. Featuring 4 bedrooms and 1 bathroom, the home needs TLC but is livable in its current state. The home's electrical power pole is only 2 years old and the breaker box has been updated. The home has a metal roof and a nice sunroom. Located less than a mile from the Cumberland Trail and Piney River picnic area. Close to town, the Blistered Chicken Saloon is next door. There is a shared driveway with the neighbor and the well is shared also. Sold As Is. No mobile home title. Mineral rights do not convey. Schedule your showing today!

Key facts

• Metal roof
• Cumberland trail
• Over 5 acres

Tags

• OVER 5 ACRES
• BASE OF A MOUNTAIN
• PINEY RIVER
• METAL ROOF
• SUNROOM
• CUMBERLAND TRAIL

Property features AI

Exterior

• Parking: Driveway with gravel surface
• Utilities: Well water; Septic tank
• Home design: Residential property; Three or more levels
• Construction: Metal roof
• Exterior features: Sloped lot; About 5.7-acre lot

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Four bedrooms (all on the main level)
• Flooring: Vinyl flooring; Other flooring
• Bathrooms: One full bathroom
• Heating & cooling: Heating present (other type); Cooling via wall/window unit(s)
• Interior features: Appliances included: Electric range, refrigerator, washer, dryer; Vinyl and other flooring; Crawl space basement
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $524 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 14.7% vs local median 1.8% in Spring City — 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 70/100 on livability (#50 in TN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Rhea County (rural): math 35% / reading 31% proficiency, ranked #38 of 139 in TN (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Spring City Elementary (math 41% / reading 35%, grade F, #266 of 952 statewide, top 28%, 570 students, 0% FRL); Rhea County High School (math 24% / reading 35%, grade F, #86 of 332 statewide, top 27%, 1,500 students, 0% FRL) — zoned schools average 0% FRL vs 60% district-wide (60 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 184 active listings in the ZIP; 198 units permitted in Rhea County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 $75,000

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.63% ✓
• Cap rate: 14.67%
• Cash-on-cash: 29.93%
• DSCR: 2.33
• GRM: 5.1

CMA / ARV

• ARV (median comp): $187,000
• List price: $75,000
• Delta: -59.89%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1350 Wassom Memorial Hwy	0.38mi	3/2.0 (-1)	1,440 (0%)	13mo	$110,000	$76	63

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: 24.5%
• Equity multiple: 2.01×
• Total profit: $21,181
• Equity at exit: $11,183

10-year hold

• IRR: 32.3%
• Equity multiple: 3.92×
• Total profit: $61,290
• Equity at exit: $6,485

Cash invested: $21,000 (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 37381

• Home prices YoY: -3.6%
• Active inventory: 184
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,224 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$18 /mo · $219/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $524

Break-even live

Break-even rent $561

Max offer price $75,000

Occupancy floor 52%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-29
   listed $75,000 Active 693-char remark
2. 2026-04-27
   listed $75,000 Active 715-char remark

   Show marketing remark (715 chars)

   Doublewide on over 5 acres at the base of a mountain across the road from Piney River. Appalachian living awaits. This home has potential as a remodel or total rebuild. Featuring 4 bedrooms and 1 bathroom, the home needs TLC but is livable in its current state. The home's electrical power pole is only 2 years old and the breaker box has been updated. The home has a metal roof and a nice sunroom. The home is located less than a mile from the Cumberland Trail and Piney River picnic area. Close to town, the Blistered Chicken Saloon is next door. There is a shared driveway with the neighbor and the well is shared also. Sold As Is. No mobile home title. Mineral rights do not convey. Schedule your showing today!

3. 2026-04-27
   listed $75,000 Active

   Show marketing remark (715 chars)

   Doublewide on over 5 acres at the base of a mountain across the road from Piney River. Appalachian living awaits. This home has potential as a remodel or total rebuild. Featuring 4 bedrooms and 1 bathroom, the home needs TLC but is livable in its current state. The home's electrical power pole is only 2 years old and the breaker box has been updated. The home has a metal roof and a nice sunroom. The home is located less than a mile from the Cumberland Trail and Piney River picnic area. Close to town, the Blistered Chicken Saloon is next door. There is a shared driveway with the neighbor and the well is shared also. Sold As Is. No mobile home title. Mineral rights do not convey. Schedule your showing today!

ⓘ 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: $219 · $18/mo
• Projected year-2 tax: $532 · $44/mo
• Expected delta: +$314/yr (+$26/mo · 143.2%)

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

Taxation est. · year 1

• Rental income: $14,683
• − Mortgage interest: −$4,201
• − Property taxes: −$219
• − Insurance: −$375
• − Repairs & maintenance: −$1,175
• − Management: −$1,175
• − Depreciation: −$2,182
• Taxable income: $5,357
• Est. tax owed @ 24.0%: −$1,286
• After-tax cash flow: $5,000/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: Rhea County
• NCES district ID: 4703510
• Math proficiency: 35% ▼ -7.00%
• Reading proficiency: 31% ▼ -5.00%
• Median HH income: $39,059
• Composite: 27.67/100
• National rank: #6917
• State rank: #38 of 139 in TN

Livability — Spring City

• Score: 70/100
• State rank: #50
• US rank: #7492

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,170

Population outlook (Rhea County) Hauer SSP2

• Today (2025): 33,187 people
• By 2030: 33,482 · +0.9%
• By 2040: 33,786 · +1.8%
• By 2050: 33,730 · +1.6%
• By 2075: 33,603 · +1.3%
• By 2100: 33,312 · +0.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 2% Black 2%
• Common ancestry: Serbian 6% Slovak 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Rhea

• 2024 margin: Solid R (+66.9) · D 16.0% · R 82.9% · Other 1.1%
• 2008→2024 swing: -20.7pp toward R · 2008: -46.2pp · 2024: -66.9pp
• All cycles: 2024: R+66.9 2020: R+63.7 2016: R+61.3 2012: R+48.9 2008: R+46.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -14.30%
• Current HPI: 377.4917
• 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

+0.0% since first listed

6 events — show timeline

• 2026-05-23 Pending — RCAOR
• 2026-05-23 Pending — GCAR
• 2026-05-23 Pending — REALTRACS as Distributed by MLS Grid
• 2026-04-29 Listed $75,000 REALTRACS as Distributed by MLS Grid
• 2026-04-27 Listed $75,000 GCAR
• 2026-04-27 Listed $75,000 RCAOR

Property tax history

+7.7%/yr

Latest (2025): $219 · +0.0% YoY. Source: county tax records.