37 Old Jackson Hwy S · St. Joseph, TN 38481

$118,000

3 bd · 0.5 ba · 1,152 sqft · SingleFamily · 189 Days on market

Built 1987 0.60 ac lot ↓ 9% 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 +11.2/30.0
• ARV discount +7.5/15.0
• Appreciation +5.9/10.0
• 1% rule +3.3/10.0
• DSCR +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks

Renovation Opportunity in Saint Joseph, Tennessee! Discover the potential in this approx. 1,100 sq. ft. block building situated on 0.6 acres with the option to purchase an additional 5.5 acres—perfect for expanding your vision. Property includes a large carport and a circular concrete driveway, offering plenty of parking and easy access. Conveniently located just off the main highway and close to the Tennessee–Alabama state line, this spot is ideal for turning your renovation dreams into reality. Whether you’re looking for a project, an investment, or a custom conversion, this property offers endless possibilities. Call today and transform this space into something amazing

Key facts

• Additional 5.5 acres
• Easy access
• Large carport

Tags

• LARGE CARPORT
• CIRCULAR CONCRETE DRIVEWAY
• 0.6 ACRES
• ADDITIONAL 5.5 ACRES
• EASY ACCESS

Property features AI

Finance

• Other: 0.6-acre lot

Exterior

• Parking: Attached parking; 2 covered parking spaces; 2-car carport
• Utilities: Private water; Septic tank; Water available
• Home design: Single-family residence; One story; Existing year built; 1152 above-grade living area (assessor)
• Construction: Brick and other construction materials; Slab foundation
• Exterior features: Level lot

Interior

• Kitchen: No appliances listed
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet; Concrete
• Bathrooms: 1 half bath
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No basement; Level interior topology
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/0.5-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $-45 ($-541/yr) — negative.
• To cash-flow at today's rent, offer at most $111k (5.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $98k (17.4% below list).
• Recommended offer: $98k (17.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Lawrence County (rural): math 29% / reading 29% proficiency, ranked #67 of 139 in TN (top 48%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: South Lawrence Elementary (math 34% / reading 30%, grade F, #369 of 952 statewide, top 42%, 540 students, 0% FRL); Loretto High School (math 8% / reading 32%, grade F, #183 of 332 statewide, top 59%, 493 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: 3 active listings in the ZIP; 27 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($816 loan paydown + $2k appreciation (1.9% local appreciation)).
• Lawrence County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 189 days — a 12% lower offer ($104k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $97,516 (17.4% 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. It's been on market 189 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 0.83% ✗
• Cap rate: 5.83%
• Cash-on-cash: -1.64%
• DSCR: 0.93
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.5%
• Equity multiple: 1.13×
• Total profit: $4,410
• Equity at exit: $45,667

10-year hold

• IRR: 6.5%
• Equity multiple: 1.87×
• Total profit: $28,822
• Equity at exit: $65,095

Cash invested: $33,040 (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 38481

• Home prices YoY: 1.9%
• Active inventory: 3
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $975 medium
• Mortgage (P&I): −$619
• Tax est. 1.5%: −$148 /mo · $1,770/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $-45

Break-even live

Break-even rent $1,032

Max offer price $111,475

Occupancy floor 100%

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-31
   days on market $118,000 Active 189 DOM
2. 2025-12-22
   price $118,000
3. 2025-11-23
   listed $130,000 Active

ⓘ 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 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $11,702
• − Mortgage interest: −$6,610
• − Property taxes: −$1,770
• − Insurance: −$590
• − Repairs & maintenance: −$936
• − Management: −$936
• − Depreciation: −$3,433
• Taxable loss: −$2,573
• Est. tax savings @ 24.0%: +$618
• After-tax cash flow: $76/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: Lawrence County
• NCES district ID: 4702340
• Math proficiency: 29% ▼ -11.00%
• Reading proficiency: 29% ▼ -8.00%
• Median HH income: $37,613
• Composite: 24.2/100
• National rank: #7729
• State rank: #67 of 139 in TN

Livability — St. Joseph

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

Census & demographics

• Census place: St. Joseph, TN
• Population (ZIP): 876

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 42,724 people
• By 2030: 42,627 · -0.2%
• By 2040: 42,144 · -1.4%
• By 2050: 40,800 · -4.5%
• By 2075: 36,643 · -14.2%
• By 2100: 29,193 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Black 3% Two or more races 2%
• Common ancestry: Lithuanian 2% Iranian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+69.1) · D 15.1% · R 84.1%
• 2008→2024 swing: -35.3pp toward R · 2008: -33.7pp · 2024: -69.1pp
• All cycles: 2024: R+69.1 2020: R+64.8 2016: R+61.3 2012: R+42.9 2008: R+33.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.86%
• Current HPI: 100.4527
• 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

-9.2% since first listed

2 events — show timeline

• 2025-12-22 Price Changed $118,000 REALTRACS as Distributed by MLS Grid
• 2025-11-23 Listed $130,000 REALTRACS as Distributed by MLS Grid