1428 Mallard Duck Rd

Columbia, TN 38401

$177,000D+

3 bd · 2.0 ba · 1,680 sqft · Built 2026 · Manufactured · Active · 78 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,525/mo
• Mortgage (P&I): −$928
• Tax + insurance: −$351
• HOA: −$0
• Vac / Maint / Mgmt: −$320
• Net cashflow: $-75/mo
• Annual: $-895/yr
• Cap rate: 6.17%
• Cash-on-cash: -0.45%
• DSCR: 0.98
• 1% rule: 0.86%
• Cash to close: $49,560

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $177k. Condition is rated good.
• At list price, monthly cash flow is $-75 ($-895/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (6.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $152k (13.9% below list).
• It's been on market 78 days — a 6% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $152k (13.9% below list) — sets the bar for 1% rule.
• 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.
• 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: Riverside Elementary (math 12% / reading 12%, grade F, #786 of 952 statewide, top 84%, 429 students, 0% FRL); E. A. Cox Middle School (math 6% / reading 7%, grade F, #284 of 333 statewide, top 86%, 656 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.
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: Rents rising fast (+5.0%/yr); 1327 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 42d 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).
• Maury County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.2% vs local median 3.0% 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.

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 78 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 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?
• 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?
• 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?