508 E Central Ave · La Follette, TN 37766

$575,000

None bd · 3.0 ba · 2,266 sqft · MultiFamily public records · 4 Days on market

Built 1930 0.34 ac lot

---

Why this score? — see what drove the C 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 +19.7/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 7 units. estimate disagrees with records

Listing remarks MLS

Remodeled 7-Unit Opportunity -- Two-Building Complex in Prime Norris Lake Area Investors, don't miss this turnkey income property with strong upside. This recently updated, two-building, 8-unit complex combines modern finishes with a hassle-free management profile -- ideal for multifamily portfolios or short-term rental operators looking to scale quickly. Highlights: - Eight fully renovated units across two buildings, thoughtfully updated for durability and market appeal. - Immediate cash flow: active rentals in place with attractive historical occupancy; excellent potential to increase rents or convert additional units to short-term stays. - Outstanding location: minutes from Norris Lake and close to ATV trails, camping, boating and outdoor recreation -- a major draw for vacationers and outdoor enthusiasts. - Excellent accessibility: conveniently located off the interstate with quick access to Lafollette, TN amenities including shops, dining, and services. - Investment-friendly pricing designed to facilitate a smooth transaction and fast close. Why this works for investors: - Dual use potential -- stable long-term rental income now, with strong seasonal demand for STRs. - Recent renovations reduce near-term capex and lower maintenance headaches. - Location draws both local renters and short-term guests year-round thanks to nearby recreation and easy highway access. This property is priced to move and presents a rare combination of current income, reduced immediate expense, and proven demand drivers. Contact me today to schedule a showing.

Key facts

• Outstanding location
• Immediate cash flow
• Two building complex

Tags

• TWO BUILDING COMPLEX
• FULLY RENOVATED UNITS
• IMMEDIATE CASH FLOW
• OUTSTANDING LOCATION
• EXCELLENT ACCESSIBILITY
• DUAL USE POTENTIAL

Property features AI

Finance

• Financial info: Income property with 7 total units

Exterior

• Parking: No designated parking reported
• Utilities: Electricity available
• Home design: Residential income property; Existing structure
• Construction: Frame construction with vinyl siding; Metal roof
• Exterior features: Lot dimensions approximately 100 x 150

Interior

• Bedrooms: 7-unit residential income property (unit-level bedroom details not provided)
• Flooring: Tile; Vinyl
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Tile and vinyl flooring; Ceiling fans
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 7 × 2-bed/?-bath units multifamily listed at $575k.

Deal economics

• At list price, monthly cash flow is $669 ($8k/yr) — positive. Per door: $96/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $525k (8.6% below list).
• Recommended offer: $525k (8.6% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 3.2% in La Follette — 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 64/100 on livability (#178 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Campbell County (rural): math 19% / reading 20% proficiency, ranked #120 of 139 in TN (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 280 active listings in the ZIP; 111 units permitted in Campbell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $61k of equity ($4k loan paydown + $58k appreciation (10.0% local appreciation)).
• Campbell County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $161k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$99k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $525,300 (8.6% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.91% ✗
• Cap rate: 7.69%
• Cash-on-cash: 4.98%
• DSCR: 1.22
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.9%
• Equity multiple: 3.21×
• Total profit: $355,520
• Equity at exit: $518,006

10-year hold

• IRR: 24.3%
• Equity multiple: 7.29×
• Total profit: $1,013,016
• Equity at exit: $1,117,099

Cash invested: $161,000 (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 37766

• Home prices YoY: 4.4%
• Active inventory: 280
• Price-to-rent: 63.8×

Monthly cashflow live

• Estimated rent: $5,253 medium
• Mortgage (P&I): −$3,015
• Tax from tax record: −$226 /mo · $2,716/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,103
• Net cashflow: $669

Break-even live

Break-even rent $4,407

Max offer price $575,000

Occupancy floor 82%

Sensitivity live

Price	-10% $994	-5% $831	+0% $669	+5% $506	+10% $343
Rent	-10% $254	-5% $461	+0% $669	+5% $876	+10% $1,084
Rate	-1.0pp $958	-0.5pp $815	base $669	+0.5pp $520	+1.0pp $368

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

Units	Beds	Baths	Est. rent
▸ 7× units	2	—	$5,250
Total (7 units)			$5,253

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-21
   days on market $575,000 Active 4 DOM
2. 2026-06-18
   days on market $575,000 Active 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $575,000 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: $2,716 · $226/mo
• Projected year-2 tax: $4,083 · $340/mo
• Expected delta: +$1,367/yr (+$114/mo · 50.3%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $63,036
• − Mortgage interest: −$32,209
• − Property taxes: −$2,716
• − Insurance: −$2,875
• − Repairs & maintenance: −$5,043
• − Management: −$5,043
• − Depreciation: −$16,727
• Taxable loss: −$1,577
• Est. tax savings @ 24.0%: +$378
• After-tax cash flow: $8,402/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: Campbell County
• NCES district ID: 4700420
• Math proficiency: 19% ▼ -9.00%
• Reading proficiency: 20% ▼ -6.00%
• Median HH income: $32,606
• Composite: 15.84/100
• National rank: #9262
• State rank: #120 of 139 in TN

Livability — La Follette

• Score: 64/100
• State rank: #178
• US rank: #14667

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Follette, TN
• Population (ZIP): 17,643

Population outlook (Campbell County) Hauer SSP2

• Today (2025): 37,507 people
• By 2030: 35,989 · -4.0%
• By 2040: 32,773 · -12.6%
• By 2050: 29,475 · -21.4%
• By 2075: 21,972 · -41.4%
• By 2100: 15,332 · -59.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Slovak 4% Lithuanian 2% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Campbell

• 2024 margin: Solid R (+69.6) · D 14.8% · R 84.5%
• 2008→2024 swing: -32.7pp toward R · 2008: -37.0pp · 2024: -69.6pp
• All cycles: 2024: R+69.6 2020: R+66.2 2016: R+60.9 2012: R+43.6 2008: R+37.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.90%
• Current HPI: 378.2421
• 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

+1754.5% since first listed

9 events — show timeline

• 2026-06-16 Listed $575,000 REALTRACS as Distributed by MLS Grid
• 2026-06-16 Listed $575,000 Knoxville MLS
• 2026-05-13 Listing Removed — Knoxville MLS
• 2026-04-10 Price Changed $625,000 Knoxville MLS
• 2025-11-26 Price Changed $650,000 Knoxville MLS
• 2025-07-24 Price Changed $675,000 Knoxville MLS
• 2025-02-20 Listed $700,000 Knoxville MLS
• 2014-06-19 Sold (Public Records) $1,150,000 Public Records
• 2001-01-03 Sold (Public Records) $31,006 Public Records

Property tax history

+3.9%/yr

Latest (2025): $2,716 · +0.0% YoY. Source: county tax records.