118 S Cedar St · Gleason, TN 38229

$50,000

2 bd · 1.0 ba · 1,332 sqft · SingleFamily public records · 3 Days on market

Built 1946 1.00 ac lot

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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
• Appreciation +5.5/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Good little fixer-upper for starting out or downsizing Convenient to all schools grocery bank dr. restaurant drugstore etc

Key facts

• In-town location
• Rental investment
• Local amenities

Tags

• FIXER-UPPER
• RENTAL INVESTMENT
• RENOVATION PROJECT
• IN-TOWN LOCATION
• LOCAL AMENITIES

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residential property
• Construction: Vinyl siding
• Exterior features: 1 acre lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Crawl space basement; 7 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $541 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).

Location & tenants

• Location reads 64/100 on livability (#163 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: health & safety C-, employment D+, schools F.
• Weakley County (rural): math 34% / reading 38% proficiency, ranked #32 of 139 in TN (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 18 active listings in the ZIP; 69 units permitted in Weakley County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $840 of equity ($346 loan paydown + $494 appreciation (1.0% local appreciation)).
• Weakley County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y ago 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.
• Current owner paid $40k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $50,000

Questions for the listing agent

1. Built in 1946 — 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: 2.17% ✓
• Cap rate: 19.28%
• Cash-on-cash: 46.37%
• DSCR: 3.06
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $151,848
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
113 Church St	0.21mi	3/2.0 (+1)	1,412 (+6%)	1mo	$205,000	$145	70
105 Holland St	0.21mi	3/1.0 (+1)	1,232 (-8%)	10mo	$24,000	$19	64
405 S Cedar St	0.20mi	2/1.0	1,136 (-15%)	3mo	$130,000	$114	64
208 East Un	0.28mi	2/1.0	1,404 (+5%)	19mo	$164,500	$117	62
408 S Cedar St	0.26mi	2/2.0	1,524 (+14%)	1mo	$155,000	$102	59
106 Erwin St	0.49mi	2/1.0	1,162 (-13%)	1mo	$145,000	$125	55
505 N Cedar St	0.57mi	3/1.0 (+1)	1,194 (-10%)	2mo	$130,000	$109	49
104 Erwin St	0.49mi	3/2.0 (+1)	1,296 (-3%)	18mo	$114,500	$88	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.99% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 49.0%
• Equity multiple: 3.53×
• Total profit: $35,360
• Equity at exit: $17,037

10-year hold

• IRR: 50.7%
• Equity multiple: 7.04×
• Total profit: $84,506
• Equity at exit: $22,616

Cash invested: $14,000 (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 38229

• Home prices YoY: 0.5%
• Active inventory: 18
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,085 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$33 /mo · $400/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $541

Break-even live

Break-even rent $400

Max offer price $50,000

Occupancy floor 45%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-19
   days on market $50,000 Active 3 DOM
2. 2026-06-18
   days on market $50,000 Active 2 DOM
3. 2026-06-17
   remarks 491-char remark
4. 2026-06-17
   listed $50,000 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: $400 · $33/mo
• Projected year-2 tax: $400 · $33/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% 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: $13,023
• − Mortgage interest: −$2,801
• − Property taxes: −$400
• − Insurance: −$250
• − Repairs & maintenance: −$1,042
• − Management: −$1,042
• − Depreciation: −$1,455
• Taxable income: $6,034
• Est. tax owed @ 24.0%: −$1,448
• After-tax cash flow: $5,044/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: Weakley County
• NCES district ID: 4704470
• Math proficiency: 34% ▼ -10.00%
• Reading proficiency: 38% ▼ -2.00%
• Median HH income: $35,389
• Composite: 29.77/100
• National rank: #6434
• State rank: #32 of 139 in TN

Livability — Gleason

• Score: 64/100
• State rank: #163
• US rank: #14059

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gleason, TN
• City population: 2,509
• Population (ZIP): 2,509

Population outlook (Weakley County) Hauer SSP2

• Today (2025): 31,862 people
• By 2030: 30,688 · -3.7%
• By 2040: 27,935 · -12.3%
• By 2050: 25,485 · -20.0%
• By 2075: 21,080 · -33.8%
• By 2100: 18,214 · -42.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 2% Two or more races 2% Black 1%
• Common ancestry: Slovak 2% Italian 1%
• Foreign-born: 0%
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Weakley

• 2024 margin: Solid R (+58.4) · D 20.3% · R 78.7%
• 2008→2024 swing: -27.2pp toward R · 2008: -31.1pp · 2024: -58.4pp
• All cycles: 2024: R+58.4 2020: R+53.7 2016: R+51.4 2012: R+41.0 2008: R+31.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.99%
• Current HPI: 215.6697
• 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

+17.6% since first listed

4 events — show timeline

• 2026-06-16 Listed $50,000 RRAR as distributed by MLS GRID
• 2018-05-29 Sold (Public Records) $40,000 Public Records
• 2018-05-21 Sold (MLS) $40,000 TVAR
• 2017-06-01 Listed $42,499 TVAR

Property tax history

+2.6%/yr

Latest (2025): $400 · +6.9% YoY. Source: county tax records.