217 Glen Spoons Rd

Mooresburg, TN 37811

$87,000C

2 bd · 1.0 ba · 955 sqft · Built 1950 · SingleFamily · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $872/mo
• Mortgage (P&I): −$456
• Tax + insurance: −$62
• HOA: −$0
• Vac / Maint / Mgmt: −$183
• Net cashflow: $171/mo
• Annual: $2,053/yr
• Cap rate: 8.65%
• Cash-on-cash: 8.43%
• DSCR: 1.37
• 1% rule: 1.00%
• Cash to close: $24,360

Investor read

• This is a 2-bed/1.0-bath single-family listed at $87k.
• At list price, monthly cash flow is $171 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($872 rent vs $87k).
• It's been on market 44 days — a 3% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.0%/yr); year-one equity from $601 of loan paydown is wiped out by about $844 of value loss. Plan a longer hold.
• Location reads 55/100 on livability (#353 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Hawkins County (rural): math 23% / reading 26% proficiency, ranked #93 of 139 in TN (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Rogersville Middle School (math 15% / reading 16%, grade F, #229 of 333 statewide, top 69%, 382 students, 0% FRL); Cherokee High School (math 17% / reading 36%, grade F, #112 of 332 statewide, top 35%, 1,055 students, 0% FRL) — zoned schools average 0% FRL vs 57% district-wide (57 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 87 active listings in the ZIP; 151 units permitted in Hawkins County in 2024 (0 in 5+ unit buildings).
• Hawkins County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 2y 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 $48k; list at $87k implies a 81% gain — meaningful room to come down on a strong offer.
• At projected returns (-1.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~9 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.
• 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.