104 Pine St · Athens, TN 37303

$299,900

None bd · 2.0 ba · 2,049 sqft · MultiFamily public records · 22 Days on market

Built 1994 10,500 sqft lot Est $340k · 12% under ↓ 2% since listing

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Why this score? — see what drove the D 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 +13.2/30.0
• ARV discount +12.8/15.0
• DSCR +4.0/10.0
• Rent growth +3.9/5.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Duplex in a prime location in Athens! This is a potential investment opportunity or a chance to live in one side while renting out the other. The duplex features two single-level units. The first unit includes: 2 Bedrooms , 1 Full bathroom, Kitchen and Living area. The second unit offers: 2 Bedrooms, 1 Full bathroom, Dining room, Living room, Kitchen and Laundry room. This property is conveniently located near shopping, medical offices, a hospital, and Athens City Schools. It has been completely remodeled with new flooring, fresh paint throughout, and all-new light fixtures, new hvac, and new appliances. The exterior has also been freshly painted, the porch/deck has been redone, a privacy fence has been added, and the lot has been recently resurveyed. Don't miss out on this great opportunity! Call or text today to schedule your private showing.

Key facts

• Fresh paint
• Completely remodeled
• New hvac

Tags

• PRIME LOCATION
• COMPLETELY REMODELED
• NEW FLOORING
• FRESH PAINT
• NEW LIGHT FIXTURES
• NEW HVAC

Property features AI

Finance

• Financial info: Two total units (multifamily)

Exterior

• Parking: On-premise parking
• Construction: Construction materials: other
• Exterior features: Construction: other; Lot dimensions approximately 70 x 150

Interior

• Kitchen: Refrigerator; Self-cleaning oven
• Bedrooms: Two units with 2 bedrooms each
• Heating & cooling: Central heating (electric); Central cooling
• Interior features: Refrigerator; Self-cleaning oven

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $-5 ($-59/yr) — negative. Per door: $-2/mo.
• To cash-flow at today's rent, offer at most $299k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (25.0% below list).
• Recommended offer: $225k (25.0% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 2.8% in Athens — 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 (#229 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime F, amenities F, commute F.
• Athens (town): math 38% / reading 33% proficiency, ranked #34 of 139 in TN (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Athens City Middle School (math 40% / reading 30%, grade F, #65 of 333 statewide, top 20%, 481 students, 0% FRL) — zoned schools average 0% FRL vs 56% district-wide (56 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+5.7%/yr); 273 active listings in the ZIP; 45 units permitted in McMinn County in 2024 (6 in 5+ unit buildings).
• This rent runs 43% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• 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 $225,000 (25.0% below list)

Questions for the listing agent

1. 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?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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?
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: 0.75% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.07%
• DSCR: 1.00
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $340,134
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
507/509 Young St	0.34mi	—/—	2,048 (-0%)	14mo	$340,000	$166	72
507509 Young St	0.34mi	—/—	2,048 (-0%)	14mo	$340,000	$166	72

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 · 5.72% rent growth · sell at horizon

5-year hold

• IRR: -13.9%
• Equity multiple: 0.49×
• Total profit: $-42,729
• Equity at exit: $44,716

10-year hold

• IRR: -1.7%
• Equity multiple: 0.87×
• Total profit: $-10,753
• Equity at exit: $25,930

Cash invested: $83,972 (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 37303

• Rents YoY: 5.7%
• Active inventory: 273
• Price-to-rent: 22.2×

Monthly cashflow live

• Estimated rent: $2,250 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$85 /mo · $1,017/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $-5

Break-even live

Break-even rent $2,256

Max offer price $299,031

Occupancy floor 95%

Sensitivity live

Price	-10% $165	-5% $80	+0% $-5	+5% $-90	+10% $-175
Rent	-10% $-183	-5% $-94	+0% $-5	+5% $84	+10% $173
Rate	-1.0pp $146	-0.5pp $71	base $-5	+0.5pp $-83	+1.0pp $-162

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,250
Total (2 units)			$2,250

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $299,900 Active 22 DOM
2. 2026-06-18
   days on market $299,900 Active 21 DOM
3. 2026-06-17
   days on market $299,900 Active 20 DOM
4. 2026-06-16
   days on market $299,900 Active 19 DOM
5. 2026-06-15
   days on market $299,900 Active 18 DOM
6. 2026-06-14
   days on market $299,900 Active 16 DOM
7. 2026-06-12
   days on market $299,900 Active 15 DOM
8. 2026-06-09
   days on market $299,900 Active 12 DOM
9. 2026-06-08
   days on market $299,900 Active 11 DOM
10. 2026-06-07
    days on market $299,900 Active 10 DOM
11. 2026-06-05
    days on market $299,900 Active 8 DOM
12. 2026-06-03
    pricedays on market $299,900 Active 6 DOM
13. 2026-06-02
    days on market $309,900 Active 5 DOM
14. 2026-06-01
    days on market $309,900 Active 4 DOM
15. 2026-05-31
    days on market $309,900 Active 3 DOM
16. 2026-05-30
    days on market $309,900 Active 2 DOM
17. 2026-04-07
    listed $309,900 Active
18. 2026-04-02
    price $309,900 857-char remark

    Show marketing remark (857 chars)

    Duplex in a prime location in Athens! This is a potential investment opportunity or a chance to live in one side while renting out the other. The duplex features two single-level units. The first unit includes: 2 Bedrooms , 1 Full bathroom, Kitchen and Living area. The second unit offers: 2 Bedrooms, 1 Full bathroom, Dining room, Living room, Kitchen and Laundry room. This property is conveniently located near shopping, medical offices, a hospital, and Athens City Schools. It has been completely remodeled with new flooring, fresh paint throughout, and all-new light fixtures, new hvac, and new appliances. The exterior has also been freshly painted, the porch/deck has been redone, a privacy fence has been added, and the lot has been recently resurveyed. Don't miss out on this great opportunity! Call or text today to schedule your private showing.

19. 2026-03-06
    listed $314,900 Active 857-char remark

    Show marketing remark (857 chars)

    Duplex in a prime location in Athens! This is a potential investment opportunity or a chance to live in one side while renting out the other. The duplex features two single-level units. The first unit includes: 2 Bedrooms , 1 Full bathroom, Kitchen and Living area. The second unit offers: 2 Bedrooms, 1 Full bathroom, Dining room, Living room, Kitchen and Laundry room. This property is conveniently located near shopping, medical offices, a hospital, and Athens City Schools. It has been completely remodeled with new flooring, fresh paint throughout, and all-new light fixtures, new hvac, and new appliances. The exterior has also been freshly painted, the porch/deck has been redone, a privacy fence has been added, and the lot has been recently resurveyed. Don't miss out on this great opportunity! Call or text today to schedule your private showing.

20. 2017-12-20
    listed $550

ⓘ 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: $1,017 · $85/mo
• Projected year-2 tax: $2,129 · $177/mo
• Expected delta: +$1,112/yr (+$93/mo · 109.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,000
• − Mortgage interest: −$16,799
• − Property taxes: −$1,017
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,160
• − Management: −$2,160
• − Depreciation: −$8,724
• Taxable loss: −$5,360
• Est. tax savings @ 24.0%: +$1,286
• After-tax cash flow: $1,227/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: Athens
• NCES district ID: 4700120
• Math proficiency: 38% ▼ -12.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $31,556
• Composite: 29.03/100
• National rank: #6609
• State rank: #34 of 139 in TN

Livability — Athens

• Score: 62/100
• State rank: #229
• US rank: #16961

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Athens, TN
• County: McMinn County · 25,688 people
• City population: 25,688
• Metro: Athens, TN
• Population (ZIP): 25,688
• Household income: $62,078
• Rent vs Own: 29.1% rent · 70.9% own
• Severe rent burden: 450.0

Population outlook (McMinn County) Hauer SSP2

• Today (2025): 53,766 people
• By 2030: 54,098 · +0.6%
• By 2040: 54,450 · +1.3%
• By 2050: 54,202 · +0.8%
• By 2075: 55,241 · +2.7%
• By 2100: 56,399 · +4.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 5% Black 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 2% Slovak 1% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% German/W. Germanic 1% Russian/Polish/Slavic 1%

Political lean MEDSL · McMinn

• 2024 margin: Solid R (+64.2) · D 17.5% · R 81.7%
• 2008→2024 swing: -22.3pp toward R · 2008: -41.9pp · 2024: -64.2pp
• All cycles: 2024: R+64.2 2020: R+60.6 2016: R+59.7 2012: R+46.9 2008: R+41.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -165.98%
• Current HPI: 244.0901
• Rent YoY: ▲ 5.72%
• Metro: Athens, 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

-1.6% since first listed

4 events — show timeline

• 2026-04-07 Listed $309,900 Knoxville MLS
• 2026-04-02 Price Changed $309,900 RCAOR
• 2026-03-06 Listed $314,900 RCAOR
• 2017-12-20 Listed $550 RCAOR

Property tax history

+2.8%/yr

Latest (2025): $1,017 · +0.0% YoY. Source: county tax records.