40 Carolane Dr · Jackson, TN 38305

$409,500

8 bd · 11.0 ba · 4,960 sqft · MultiFamily public records · 42 Days on market

Built 1975 0.33 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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

🏡 Turn-Key Quadplex Investment Opportunity in Jackson, TN! 💰 Excellent opportunity to own an income-producing quad in the heart of Jackson! This well-maintained property features four spacious units, each offering 2 bedrooms and 1.5 bathrooms, making it an attractive option for long-term tenants and investors alike. Currently generating approximately $3,900 per month in rental income, this property offers strong cash flow potential with established rental demand in the area. Each unit features functional layouts, comfortable living spaces, private bedrooms, and convenient half baths for guests. Whether you’re looking to expand your rental portfolio, house hack, or secure a low-mainte

Key facts

• 0.33 acre lot
• Built 1975
• Listed 41 days

What this means for you Summary

Snapshot

• This is a 4 × 2.0-bed/1.5-bath units multifamily listed at $410k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $476/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $410k).
• Recommended offer: $397k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 3.5% in Jackson — 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 62/100 on livability (#216 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Madison County (urban): math 10% / reading 17% proficiency, ranked #131 of 139 in TN (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.6%/yr); 508 active listings in the ZIP; 247 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• At $5,648/mo this rent would consume 98% of the median local household income ($69k/yr) (locally 2228% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Madison County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $115k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($397k) is reasonable based on typical stale-listing flexibility.
• 6 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.

Risks & watch-outs

• 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.

Recommended offer $397,215 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.38% ✓
• Cap rate: 11.87%
• Cash-on-cash: 19.91%
• DSCR: 1.89
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.58% rent growth · sell at horizon

5-year hold

• IRR: 10.5%
• Equity multiple: 1.41×
• Total profit: $46,755
• Equity at exit: $61,058

10-year hold

• IRR: 18.4%
• Equity multiple: 2.44×
• Total profit: $164,652
• Equity at exit: $35,406

Cash invested: $114,660 (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 38305

• Rents YoY: 1.6%
• Active inventory: 508
• Price-to-rent: 24.2×

Monthly cashflow live

• Estimated rent: $5,648 medium
• Mortgage (P&I): −$2,147
• Tax from tax record: −$242 /mo · $2,900/yr
• Insurance: −$171
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,186
• Net cashflow: $1,902

Break-even live

Break-even rent $3,240

Max offer price $409,500

Occupancy floor 61%

Sensitivity live

Price	-10% $2,134	-5% $2,018	+0% $1,902	+5% $1,786	+10% $1,670
Rent	-10% $1,456	-5% $1,679	+0% $1,902	+5% $2,125	+10% $2,348
Rate	-1.0pp $2,108	-0.5pp $2,006	base $1,902	+0.5pp $1,796	+1.0pp $1,688

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

Units	Beds	Baths	Est. rent
▸ 4× units	2.0	1.5	$5,648
Total (4 units)			$5,648

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: $102,375
• Closing costs: $12,285
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-06-19
   days on market $409,500 Active 42 DOM
2. 2026-06-18
   days on market $409,500 Active 41 DOM
3. 2026-06-17
   days on market $409,500 Active 40 DOM
4. 2026-06-16
   days on market $409,500 Active 39 DOM
5. 2026-06-15
   days on market $409,500 Active 38 DOM
6. 2026-06-14
   days on market $409,500 Active 36 DOM
7. 2026-06-13
   days on market $409,500 Active 35 DOM
8. 2026-06-10
   pricedays on market $409,500 Active 33 DOM
9. 2026-06-09
   days on market $429,900 Active 32 DOM
10. 2026-06-08
    days on market $429,900 Active 31 DOM
11. 2026-06-07
    days on market $429,900 Active 30 DOM
12. 2026-06-05
    days on market $429,900 Active 27 DOM
13. 2026-06-03
    days on market $429,900 Active 26 DOM
14. 2026-06-02
    days on market $429,900 Active 25 DOM
15. 2026-06-01
    days on market $429,900 Active 24 DOM
16. 2026-05-31
    days on market $429,900 Active 23 DOM
17. 2026-05-30
    days on market $429,900 Active 22 DOM
18. 2026-05-08
    listed $429,900 Active
19. 2026-02-26
    historical $875
20. 2026-01-31
    price $875
21. 2025-12-31
    listed $925
22. 2025-12-26
    historical $925
23. 2025-12-11
    price $925
24. 2025-11-01
    price $975
25. 2025-07-26
    listed $1,075
26. 2025-01-31
    historical $1,100
27. 2024-12-24
    listed $1,100
28. 2024-10-19
    historical $1,100
29. 2024-10-05
    listed $1,100
30. 2024-07-12
    historical $1,100
31. 2024-06-05
    price $1,100
32. 2024-05-07
    listed $1,125
33. 2023-07-18
    historical
34. 2022-05-04
    soldstatus $820,000
35. 2022-05-04
    soldstatus $305,000
36. 2021-04-19
    soldstatus $125,000
37. 2018-08-30
    soldstatus $90,000

ⓘ 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: $2,900 · $242/mo
• Projected year-2 tax: $2,907 · $242/mo
• Expected delta: +$7/yr (+$1/mo · 0.3%)

ⓘ 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 7/10 Severe 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $67,776
• − Mortgage interest: −$22,938
• − Property taxes: −$2,900
• − Insurance: −$2,048
• − Repairs & maintenance: −$5,422
• − Management: −$5,422
• − Depreciation: −$11,913
• Taxable income: $17,133
• Est. tax owed @ 24.0%: −$4,112
• After-tax cash flow: $18,714/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: Madison County
• NCES district ID: 4702580
• Math proficiency: 10% ▼ -11.00%
• Reading proficiency: 17% ▼ -4.00%
• Median HH income: $42,015
• Composite: 11.74/100
• National rank: #9687
• State rank: #131 of 139 in TN

Livability — Jackson

• Score: 62/100
• State rank: #216
• US rank: #16488

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jackson, TN
• County: Madison County · 87,024 people
• City population: 87,024
• Metro: Jackson, TN
• Population (ZIP): 53,488
• Household income: $68,977
• Rent vs Own: 36.7% rent · 63.3% own
• Severe rent burden: 2228.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 95,952 people
• By 2030: 94,264 · -1.8%
• By 2040: 89,607 · -6.6%
• By 2050: 84,133 · -12.3%
• By 2075: 72,215 · -24.7%
• By 2100: 62,062 · -35.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 57% Black 32% Hispanic / Latino 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 2% Italian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Madison

• 2024 margin: R (+18.2) · D 40.3% · R 58.5% · Other 1.2%
• 2008→2024 swing: +3.4pp toward D · 2008: -21.6pp · 2024: -18.2pp
• All cycles: 2024: R+18.2 2020: R+12.9 2016: R+15.6 2012: R+8.9 2008: R+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -118.63%
• Current HPI: 195.4511
• Rent YoY: ▲ 1.58%
• Metro: Jackson, 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

+377.7% since first listed

20 events — show timeline

• 2026-05-08 Listed $429,900 REALTRACS as Distributed by MLS Grid
• 2026-02-26 Rental Removed $875 BUILDIUM
• 2026-01-31 Price Changed $875 BUILDIUM
• 2025-12-31 Listed for Rent $925 BUILDIUM
• 2025-12-26 Rental Removed $925 BUILDIUM
• 2025-12-11 Price Changed $925 BUILDIUM
• 2025-11-01 Price Changed $975 BUILDIUM
• 2025-07-26 Listed for Rent $1,075 BUILDIUM
• 2025-01-31 Rental Removed $1,100 BUILDIUM
• 2024-12-24 Listed for Rent $1,100 BUILDIUM
• 2024-10-19 Rental Removed $1,100 BUILDIUM
• 2024-10-05 Listed for Rent $1,100 BUILDIUM
• 2024-07-12 Rental Removed $1,100 BUILDIUM
• 2024-06-05 Price Changed $1,100 BUILDIUM
• 2024-05-07 Listed for Rent $1,125 BUILDIUM
• 2023-07-18 Rental Removed — BUILDIUM
• 2022-05-04 Sold (Public Records) $305,000 Public Records
• 2022-05-04 Sold (Public Records) $820,000 Public Records
• 2021-04-19 Sold (Public Records) $125,000 Public Records
• 2018-08-30 Sold (Public Records) $90,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $2,900 · +0.0% YoY. Source: county tax records.