215 Mcclellan Ave · Cookeville, TN 38501

$144,900

4 bd · 2.0 ba · 1,280 sqft · SingleFamily public records · 6 Days on market

Built 1962 0.53 ac lot Est $255k · 43% under

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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 +29.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• Livability +3.8/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Excellent investment opportunity in the heart of Cookeville! Situated on a beautiful lot within Cookeville city limits, this property offers incredible potential for investors, flippers, or buyers looking to renovate and make it their own. With a desirable and convenient location, the possibilities are endless! Whether you are looking for your next renovation project or an opportunity to create value with a short term or long term investment, this property offers a rare chance to transform a home in a sought-after location. Property is sold AS IS.

Key facts

• Beautiful lot
• Convenient location
• Renovation project

Tags

• BEAUTIFUL LOT
• CONVENIENT LOCATION
• RENOVATION PROJECT
• SOUGHT-AFTER LOCATION

Property features AI

Exterior

• Utilities: Public water; Public sewer; Electric service with circuit breakers
• Home design: Single-family residence; Two levels; Site-built construction
• Construction: Block and vinyl siding exterior; Composition/shingle roof
• Exterior features: Covered porch; Paved road access; Lot approximately 23,320 sq ft (110' x 212' irr)

Interior

• Flooring: Vinyl flooring; Carpet flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Radiant floor heating; Has heating; Has cooling
• Interior features: Double pane windows; No fireplace; Unfinished basement
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $523 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 10.6% vs local median 3.1% in Cookeville — 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 76/100 on livability (#11 in TN, #3,551 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: schools D-, commute F, employment F.
• Putnam County (town): math 32% / reading 31% proficiency, ranked #49 of 139 in TN (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-1.4%/yr); 285 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 700 units permitted in Putnam County in 2024 (48 in 5+ unit buildings).
• This rent runs 42% of the median local income ($52k/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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Putnam County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

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 $144,900

Questions for the listing agent

1. Built in 1962 — 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. 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: 1.25% ✓
• Cap rate: 10.62%
• Cash-on-cash: 15.46%
• DSCR: 1.69
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $254,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
804 Clay Ave	0.27mi	3/2.5 (-1)	1,341 (+5%)	10mo	$304,000	$227	64
517 Presley Ln	0.49mi	3/2.0 (-1)	1,266 (-1%)	11mo	$256,500	$203	61
769 Robinson Rd	0.35mi	4/1.0	1,402 (+10%)	7mo	$226,000	$161	58
609 N Franklin Ave	0.52mi	3/2.0 (-1)	1,280 (0%)	17mo	$241,000	$188	56
436 Chestnut Ave	0.46mi	3/1.0 (-1)	1,224 (-4%)	10mo	$158,000	$129	54
300 Freedom Ave	0.54mi	3/2.0 (-1)	1,236 (-3%)	13mo	$246,000	$199	53
523 Spruce Ave	0.43mi	3/2.0 (-1)	1,395 (+9%)	10mo	$295,000	$211	51
491 6th St W	0.45mi	4/2.5	1,200 (-6%)	19mo	$190,000	$158	51
346 W 4th St	0.45mi	3/2.0 (-1)	1,365 (+7%)	16mo	$310,000	$227	50
217 Farley Ave	0.30mi	3/2.0 (-1)	1,104 (-14%)	14mo	$228,000	$207	46
460 W Stevens St	0.55mi	3/1.0 (-1)	1,428 (+12%)	7mo	$245,000	$172	40
420 W 7th St	0.52mi	3/1.0 (-1)	1,102 (-14%)	18mo	$155,000	$141	29

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 3.0%
• Equity multiple: 1.11×
• Total profit: $4,485
• Equity at exit: $21,605

10-year hold

• IRR: 9.6%
• Equity multiple: 1.65×
• Total profit: $26,173
• Equity at exit: $12,528

Cash invested: $40,572 (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 38501

• Home prices YoY: -24.2%
• Rents YoY: -1.4%
• Active inventory: 285
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,808 high
• Mortgage (P&I): −$760
• Tax from tax record: −$85 /mo · $1,025/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $523

Break-even live

Break-even rent $1,146

Max offer price $144,900

Occupancy floor 66%

Sensitivity live

Price	-10% $605	-5% $564	+0% $523	+5% $482	+10% $441
Rent	-10% $380	-5% $451	+0% $523	+5% $594	+10% $666
Rate	-1.0pp $596	-0.5pp $560	base $523	+0.5pp $485	+1.0pp $447

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
49 Stout St Apt B Cookeville, TN	3.0	1.5	1039	$1,195	$1.15	46d	1	1.10mi
158 King St Cookeville, TN	3.0	1.0	1250	$1,450	$1.16	46d	1	1.21mi
1445 W Broad St Cookeville, TN	2.0–3.0	2.0	1157	$1,650	$1.43	46d	2	1.26mi
325 Petite Dr Cookeville, TN	3.0	1.5	1548	$1,800	$1.16	46d	1	1.34mi
1405 Brook Hill Dr Cookeville, TN	3.0	2.0	1377	$2,000	$1.45	46d	1	1.38mi
237 N Maple Ave Cookeville, TN	3.0	2.0	1500	$1,900	$1.27	46d	1	1.47mi

Listing history 9 events

1. 2026-06-22
   days on market $144,900 Active 6 DOM
2. 2026-06-19
   days on market $144,900 Active 4 DOM
3. 2026-06-18
   days on market $144,900 Active 3 DOM
4. 2026-06-17
   days on market $144,900 Active 2 DOM
5. 2026-06-15
   days on marketlisting id $144,900 Active 1 DOM
6. 2026-06-15
   days on market $144,900 Active 5 DOM
7. 2026-06-14
   days on market $144,900 Active 3 DOM
8. 2026-06-13
   remarks 553-char remark
9. 2026-06-13
   listed $144,900 Active 2 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: $1,025 · $85/mo
• Projected year-2 tax: $1,029 · $86/mo
• Expected delta: +$4/yr ($0/mo · 0.4%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% 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: $21,698
• − Mortgage interest: −$8,117
• − Property taxes: −$1,025
• − Insurance: −$724
• − Repairs & maintenance: −$1,736
• − Management: −$1,736
• − Depreciation: −$4,215
• Taxable income: $4,145
• Est. tax owed @ 24.0%: −$995
• After-tax cash flow: $5,279/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: Putnam County
• NCES district ID: 4703480
• Math proficiency: 32% ▼ -6.00%
• Reading proficiency: 31% ▼ -5.00%
• Median HH income: $35,738
• Composite: 26.09/100
• National rank: #7291
• State rank: #49 of 139 in TN

Livability — Cookeville

• Score: 76/100
• State rank: #11
• US rank: #3551

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cookeville, TN
• County: Putnam County · 72,571 people
• City population: 72,571
• Metro: Cookeville, TN
• Population (ZIP): 42,471
• Household income: $52,145
• Rent vs Own: 51.1% rent · 48.9% own
• Severe rent burden: 2410.0

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 80,122 people
• By 2030: 82,798 · +3.3%
• By 2040: 87,913 · +9.7%
• By 2050: 92,659 · +15.6%
• By 2075: 104,965 · +31.0%
• By 2100: 113,256 · +41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 9% Two or more races 6% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 5% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Putnam

• 2024 margin: Solid R (+47.4) · D 25.7% · R 73.1% · Other 1.1%
• 2008→2024 swing: -20.5pp toward R · 2008: -26.9pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+43.4 2016: R+45.0 2012: R+37.1 2008: R+26.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.19%
• Current HPI: 285.6959
• Rent YoY: ▼ -1.45%
• Metro: Cookeville, 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 event — show timeline

• 2026-06-11 Listed $144,900 UCMLS

Property tax history

+7.1%/yr

Latest (2025): $1,025 · +2.0% YoY. Source: county tax records.