166 Lester Ledbetter Ln · Hilham, TN 38568

$120,000

3 bd · 2.0 ba · 1,216 sqft · Other public records · 109 Days on market

Built 2009 1.50 ac lot

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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 +15.8/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• 1% rule +4.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Welcome home to privacy & seclusion in beautiful Hilham, TN! This charming 3 bedroom home offers everything you've been looking for, including an open and split bedroom floorplan, an updated kitchen, and a large, covered front porch to relax while taking in the gorgeous & secluded views. Outside you'll find a 2 car carport, an outbuilding for storage, and a 1.5 acre lot perfect for gardening and entertaining. Schedule your showing today!!! Addendum: Buyer to verify ALL INFORMATION.

Key facts

• 1.5 acre lot
• 2 parking spots
• Built 2009

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $120k.

Deal economics

• At list price, monthly cash flow is $55 ($662/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (6.7% below list).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Overton County (rural): math 27% / reading 30% proficiency, ranked #70 of 139 in TN (top 50%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Hilham Elementary (math 27% / reading 27%, grade F, #496 of 952 statewide, top 55%, 311 students, 0% FRL); Livingston Middle School (math 28% / reading 25%, grade F, #135 of 333 statewide, top 43%, 276 students, 0% FRL); Livingston Academy (math 8% / reading 41%, grade F, #143 of 332 statewide, top 43%, 885 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 122 active listings in the ZIP; 17 units permitted in Overton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($830 loan paydown + $12k appreciation (10.0% local appreciation)).
• Overton County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 10y 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: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.93% ✗
• Cap rate: 6.84%
• Cash-on-cash: 1.97%
• DSCR: 1.09
• GRM: 8.9

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: 25.7%
• Equity multiple: 3.05×
• Total profit: $68,886
• Equity at exit: $108,106

10-year hold

• IRR: 22.6%
• Equity multiple: 6.96×
• Total profit: $200,129
• Equity at exit: $233,134

Cash invested: $33,600 (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 38568

• Home prices YoY: 3.5%
• Active inventory: 122
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,120 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $55

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 90%

Sensitivity live

Price	-10% $138	-5% $97	+0% $55	+5% $14	+10% $-28
Rent	-10% $-33	-5% $11	+0% $55	+5% $99	+10% $144
Rate	-1.0pp $116	-0.5pp $86	base $55	+0.5pp $24	+1.0pp $-8

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 41 events

1. 2024-02-16
   status Pending
2. 2023-10-06
   soldstatus $119,450 Closed 495-char remark

   Show marketing remark (484 chars)

   Welcome home to privacy & seclusion in beautiful Hilham, TN! This charming 3 bedroom home offers everything you've been looking for, including an open and split bedroom floorplan, an updated kitchen, and a large, covered front porch to relax while taking in the gorgeous & secluded views. Outside you'll find a 2 car carport, an outbuilding for storage, and a 1.5 acre lot perfect for gardening and entertaining. Schedule your showing today!!! Buyer to verify ALL information!

3. 2023-10-06
   soldstatus $119,450 Closed 484-char remark

   Show marketing remark (484 chars)

   Welcome home to privacy & seclusion in beautiful Hilham, TN! This charming 3 bedroom home offers everything you've been looking for, including an open and split bedroom floorplan, an updated kitchen, and a large, covered front porch to relax while taking in the gorgeous & secluded views. Outside you'll find a 2 car carport, an outbuilding for storage, and a 1.5 acre lot perfect for gardening and entertaining. Schedule your showing today!!! Buyer to verify ALL information!

4. 2023-09-26
   soldstatus $119,450
5. 2023-09-22
   soldstatus $119,450
6. 2023-07-26
   historical Active Under Contract 484-char remark

   Show marketing remark (495 chars)

   Welcome home to privacy & seclusion in beautiful Hilham, TN! This charming 3 bedroom home offers everything you've been looking for, including an open and split bedroom floorplan, an updated kitchen, and a large, covered front porch to relax while taking in the gorgeous & secluded views. Outside you'll find a 2 car carport, an outbuilding for storage, and a 1.5 acre lot perfect for gardening and entertaining. Schedule your showing today!!! Addendum: Buyer to verify ALL INFORMATION.

7. 2023-07-26
   status Pending 495-char remark

   Show marketing remark (495 chars)

   Welcome home to privacy & seclusion in beautiful Hilham, TN! This charming 3 bedroom home offers everything you've been looking for, including an open and split bedroom floorplan, an updated kitchen, and a large, covered front porch to relax while taking in the gorgeous & secluded views. Outside you'll find a 2 car carport, an outbuilding for storage, and a 1.5 acre lot perfect for gardening and entertaining. Schedule your showing today!!! Addendum: Buyer to verify ALL INFORMATION.

8. 2023-06-20
   price $119,900 495-char remark

   Show marketing remark (484 chars)

   Welcome home to privacy & seclusion in beautiful Hilham, TN! This charming 3 bedroom home offers everything you've been looking for, including an open and split bedroom floorplan, an updated kitchen, and a large, covered front porch to relax while taking in the gorgeous & secluded views. Outside you'll find a 2 car carport, an outbuilding for storage, and a 1.5 acre lot perfect for gardening and entertaining. Schedule your showing today!!! Buyer to verify ALL information!

9. 2023-06-20
   price $119,900 484-char remark

   Show marketing remark (484 chars)

   Welcome home to privacy & seclusion in beautiful Hilham, TN! This charming 3 bedroom home offers everything you've been looking for, including an open and split bedroom floorplan, an updated kitchen, and a large, covered front porch to relax while taking in the gorgeous & secluded views. Outside you'll find a 2 car carport, an outbuilding for storage, and a 1.5 acre lot perfect for gardening and entertaining. Schedule your showing today!!! Buyer to verify ALL information!

10. 2023-06-07
    status Active 495-char remark

    Show marketing remark (484 chars)

    Welcome home to privacy & seclusion in beautiful Hilham, TN! This charming 3 bedroom home offers everything you've been looking for, including an open and split bedroom floorplan, an updated kitchen, and a large, covered front porch to relax while taking in the gorgeous & secluded views. Outside you'll find a 2 car carport, an outbuilding for storage, and a 1.5 acre lot perfect for gardening and entertaining. Schedule your showing today!!! Buyer to verify ALL information!

11. 2023-06-07
    status Active 484-char remark

    Show marketing remark (484 chars)

    Welcome home to privacy & seclusion in beautiful Hilham, TN! This charming 3 bedroom home offers everything you've been looking for, including an open and split bedroom floorplan, an updated kitchen, and a large, covered front porch to relax while taking in the gorgeous & secluded views. Outside you'll find a 2 car carport, an outbuilding for storage, and a 1.5 acre lot perfect for gardening and entertaining. Schedule your showing today!!! Buyer to verify ALL information!

12. 2023-05-30
    listed Pending - Continue to Show 495-char remark

    Show marketing remark (484 chars)

    Welcome home to privacy & seclusion in beautiful Hilham, TN! This charming 3 bedroom home offers everything you've been looking for, including an open and split bedroom floorplan, an updated kitchen, and a large, covered front porch to relax while taking in the gorgeous & secluded views. Outside you'll find a 2 car carport, an outbuilding for storage, and a 1.5 acre lot perfect for gardening and entertaining. Schedule your showing today!!! Buyer to verify ALL information!

13. 2023-05-30
    historical Active Under Contract 484-char remark

    Show marketing remark (484 chars)

    Welcome home to privacy & seclusion in beautiful Hilham, TN! This charming 3 bedroom home offers everything you've been looking for, including an open and split bedroom floorplan, an updated kitchen, and a large, covered front porch to relax while taking in the gorgeous & secluded views. Outside you'll find a 2 car carport, an outbuilding for storage, and a 1.5 acre lot perfect for gardening and entertaining. Schedule your showing today!!! Buyer to verify ALL information!

14. 2023-05-27
    listed $119,900

    Show marketing remark (484 chars)

    Welcome home to privacy & seclusion in beautiful Hilham, TN! This charming 3 bedroom home offers everything you've been looking for, including an open and split bedroom floorplan, an updated kitchen, and a large, covered front porch to relax while taking in the gorgeous & secluded views. Outside you'll find a 2 car carport, an outbuilding for storage, and a 1.5 acre lot perfect for gardening and entertaining. Schedule your showing today!!! Buyer to verify ALL information!

15. 2023-05-27
    listed $124,999 Active 484-char remark

    Show marketing remark (484 chars)

    Welcome home to privacy & seclusion in beautiful Hilham, TN! This charming 3 bedroom home offers everything you've been looking for, including an open and split bedroom floorplan, an updated kitchen, and a large, covered front porch to relax while taking in the gorgeous & secluded views. Outside you'll find a 2 car carport, an outbuilding for storage, and a 1.5 acre lot perfect for gardening and entertaining. Schedule your showing today!!! Buyer to verify ALL information!

16. 2023-05-26
    listed $124,999 495-char remark

    Show marketing remark (495 chars)

    Welcome home to privacy & seclusion in beautiful Hilham, TN! This charming 3 bedroom home offers everything you've been looking for, including an open and split bedroom floorplan, an updated kitchen, and a large, covered front porch to relax while taking in the gorgeous & secluded views. Outside you'll find a 2 car carport, an outbuilding for storage, and a 1.5 acre lot perfect for gardening and entertaining. Schedule your showing today!!! Addendum: Buyer to verify ALL INFORMATION.

17. 2023-03-27
    status Pending
18. 2023-03-27
    status Pending
19. 2023-03-27
    historical
20. 2023-02-14
    price $120,000
21. 2023-02-14
    price $120,000
22. 2022-12-17
    price $135,000
23. 2022-12-17
    price $135,000
24. 2022-12-13
    price $136,999
25. 2022-12-13
    price $136,999
26. 2022-12-08
    listed $137,000 Active
27. 2022-12-04
    price $137,000
28. 2022-10-11
    listed $137,499 Active
29. 2022-10-05
    historical
30. 2022-09-29
    historical
31. 2022-08-18
    price $137,900
32. 2022-08-18
    price $137,900
33. 2022-08-06
    price $139,900
34. 2022-07-26
    price $139,900
35. 2022-07-15
    price $144,900
36. 2022-07-05
    listed $149,900 Active
37. 2022-06-29
    listed $149,900 Active
38. 2017-07-25
    soldstatus $18,064
39. 2017-07-24
    soldstatus $18,064
40. 2017-07-24
    listed $18,064
41. 2016-12-21
    listed $18,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,435
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,075
• − Management: −$1,075
• − Depreciation: −$3,491
• Taxable loss: −$1,327
• Est. tax savings @ 24.0%: +$319
• After-tax cash flow: $981/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: Overton County
• NCES district ID: 4703330
• Math proficiency: 27% ▼ -12.00%
• Reading proficiency: 30% ▼ -2.00%
• Median HH income: $34,479
• Composite: 23.47/100
• National rank: #7879
• State rank: #70 of 139 in TN

Livability — Hilham

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 1,989

Population outlook (Overton County) Hauer SSP2

• Today (2025): 21,942 people
• By 2030: 21,633 · -1.4%
• By 2040: 20,812 · -5.1%
• By 2050: 19,770 · -9.9%
• By 2075: 17,125 · -22.0%
• By 2100: 13,695 · -37.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 8%
• Common ancestry: Lithuanian 3% Slovak 2% Serbian 1%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Overton

• 2024 margin: Solid R (+64.2) · D 17.4% · R 81.7%
• 2008→2024 swing: -50.9pp toward R · 2008: -13.3pp · 2024: -64.2pp
• All cycles: 2024: R+64.2 2020: R+58.6 2016: R+50.2 2012: R+25.7 2008: R+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.67%
• Current HPI: 459.5824
• 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

+563.6% since first listed

41 events — show timeline

• 2024-02-16 Pending — Knoxville MLS
• 2023-10-06 Sold (MLS) $119,450 REALTRACS as Distributed by MLS Grid
• 2023-10-06 Sold (MLS) $119,450 Knoxville MLS
• 2023-09-26 Sold (Public Records) $119,450 Public Records
• 2023-09-22 Sold (MLS) $119,450 UCMLS
• 2023-07-26 Contingent — REALTRACS as Distributed by MLS Grid
• 2023-07-26 Pending — Knoxville MLS
• 2023-06-20 Price Changed $119,900 Knoxville MLS
• 2023-06-20 Price Changed $119,900 REALTRACS as Distributed by MLS Grid
• 2023-06-07 Relisted — Knoxville MLS
• 2023-06-07 Relisted — REALTRACS as Distributed by MLS Grid
• 2023-05-30 Listed — Knoxville MLS
• 2023-05-30 Contingent — REALTRACS as Distributed by MLS Grid
• 2023-05-27 Listed $119,900 UCMLS
• 2023-05-27 Listed $124,999 REALTRACS as Distributed by MLS Grid
• 2023-05-26 Listed $124,999 Knoxville MLS
• 2023-03-27 Pending — Knoxville MLS
• 2023-03-27 Pending — REALTRACS as Distributed by MLS Grid
• 2023-03-27 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2023-02-14 Price Changed $120,000 Knoxville MLS
• 2023-02-14 Price Changed $120,000 REALTRACS as Distributed by MLS Grid
• 2022-12-17 Price Changed $135,000 Knoxville MLS
• 2022-12-17 Price Changed $135,000 REALTRACS as Distributed by MLS Grid
• 2022-12-13 Price Changed $136,999 Knoxville MLS
• 2022-12-13 Price Changed $136,999 REALTRACS as Distributed by MLS Grid
• 2022-12-08 Listed $137,000 Knoxville MLS
• 2022-12-04 Price Changed $137,000 REALTRACS as Distributed by MLS Grid
• 2022-10-11 Listed $137,499 REALTRACS as Distributed by MLS Grid
• 2022-10-05 Listing Removed — Knoxville MLS
• 2022-09-29 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2022-08-18 Price Changed $137,900 Knoxville MLS
• 2022-08-18 Price Changed $137,900 REALTRACS as Distributed by MLS Grid
• 2022-08-06 Price Changed $139,900 Knoxville MLS
• 2022-07-26 Price Changed $139,900 REALTRACS as Distributed by MLS Grid
• 2022-07-15 Price Changed $144,900 REALTRACS as Distributed by MLS Grid
• 2022-07-05 Listed $149,900 Knoxville MLS
• 2022-06-29 Listed $149,900 REALTRACS as Distributed by MLS Grid
• 2017-07-25 Sold (MLS) $18,064 Knoxville MLS
• 2017-07-24 Listed $18,064 UCMLS
• 2017-07-24 Sold (MLS) $18,064 UCMLS
• 2016-12-21 Listed $18,000 Knoxville MLS

Property tax history

-2.5%/yr

Latest (2025): $159 · -40.2% YoY. Source: county tax records.