1505 Railroad Ave · Athens, TN 37303

$69,900

3 bd · 2.0 ba · 1,500 sqft · Other · 30 Days on market

Built 1900 10,454 sqft 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.9/5.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Excellent location with clear pallet to make this home your own!! Fixer-upper with fantastic potential.

Key facts

• 0.24 acre lot
• Built 1900
• Listed 29 days

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer; Water service available
• Home design: Single-family residence; Two levels; Residential property
• Construction: Frame construction; Existing (pre-owned) home
• Exterior features: Lot approximately 0.24 acres (75 x 150)

Interior

• Bedrooms: Three bedrooms (all on the main level)
• Flooring: Other flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Basement with other/unspecified features; No built-in appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $70k.

Deal economics

• At list price, monthly cash flow is $642 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.3% 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: schools D-, crime F, amenities 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.
• Market conditions: Rents rising fast (+5.7%/yr); 273 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 45 units permitted in McMinn County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.7% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y 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 $54k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• 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 $68,851 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.04% ✓
• Cap rate: 17.32%
• Cash-on-cash: 39.39%
• DSCR: 2.75
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.72% rent growth · sell at horizon

5-year hold

• IRR: 38.7%
• Equity multiple: 2.72×
• Total profit: $33,616
• Equity at exit: $10,422

10-year hold

• IRR: 46.5%
• Equity multiple: 6.08×
• Total profit: $99,422
• Equity at exit: $6,044

Cash invested: $19,572 (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: 4.1×

Monthly cashflow live

• Estimated rent: $1,425 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,048/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $642

Break-even live

Break-even rent $611

Max offer price $69,900

Occupancy floor 50%

Sensitivity live

Price	-10% $691	-5% $667	+0% $642	+5% $618	+10% $594
Rent	-10% $530	-5% $586	+0% $642	+5% $699	+10% $755
Rate	-1.0pp $678	-0.5pp $660	base $642	+0.5pp $624	+1.0pp $606

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2315 Clearwater Rd Athens, TN	3.0	2.0	1600	$1,550	$0.97	44d	1	0.72mi

Listing history 22 events

1. 2026-06-19
   days on market $69,900 Active 30 DOM
2. 2026-06-18
   days on market $69,900 Active 29 DOM
3. 2026-06-17
   days on market $69,900 Active 28 DOM
4. 2026-06-16
   days on market $69,900 Active 27 DOM
5. 2026-06-15
   days on market $69,900 Active 26 DOM
6. 2026-06-14
   days on market $69,900 Active 24 DOM
7. 2026-06-12
   days on market $69,900 Active 23 DOM
8. 2026-06-09
   days on market $69,900 Active 20 DOM
9. 2026-06-08
   days on market $69,900 Active 19 DOM
10. 2026-06-07
    days on market $69,900 Active 18 DOM
11. 2026-06-05
    days on market $69,900 Active 16 DOM
12. 2026-06-03
    days on market $69,900 Active 14 DOM
13. 2026-06-02
    days on market $69,900 Active 13 DOM
14. 2026-06-01
    days on market $69,900 Active 12 DOM
15. 2026-05-31
    days on market $69,900 Active 11 DOM
16. 2026-05-30
    days on market $69,900 Active 10 DOM
17. 2026-05-20
    listed $69,900 Active
18. 2023-04-25
    listed $79,900 Active
19. 2008-08-27
    soldstatus $53,698
20. 2008-02-12
    listed $49,900
21. 2001-12-17
    soldstatus $14,000
22. 2001-12-17
    soldstatus $14,000

ⓘ 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 3/10 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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,096
• − Mortgage interest: −$3,915
• − Property taxes: −$1,048
• − Insurance: −$350
• − Repairs & maintenance: −$1,368
• − Management: −$1,368
• − Depreciation: −$2,033
• Taxable income: $7,014
• Est. tax owed @ 24.0%: −$1,683
• After-tax cash flow: $6,026/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

+399.3% since first listed

6 events — show timeline

• 2026-05-20 Listed $69,900 REALTRACS as Distributed by MLS Grid
• 2023-04-25 Listed $79,900 RCAOR
• 2008-08-27 Sold (Public Records) $53,698 Public Records
• 2008-02-12 Listed $49,900 Knoxville MLS
• 2001-12-17 Sold (Public Records) $14,000 Public Records
• 2001-12-17 Sold (Public Records) $14,000 Public Records

Property tax history

-11.3%/yr

Latest (2025): $79 · +0.0% YoY. Source: county tax records.