115 Old Cemetary Rd · Greeneville, TN 37745

$124,900

1 bd · 1.0 ba · 1,129 sqft · SingleFamily · 104 Days on market

Built 2012 Poor condition 5.56 ac lot

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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 +16.2/30.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• 1% rule +4.4/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Schools +2.1/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Rare chance to complete a home built to outlast generations, featuring poured concrete walls and floors, steel beams, stained glass windows, and a metal roof, originally designed as a castle and engineered for extreme durability. The structural shell is complete, allowing the next owner to finish the interior to their exact vision. Set on unrestricted land with a creek and private pond, offering total freedom for homesteading, multi-generational living, or a private compound. Superior construction provides unmatched strength, energy efficiency, and long-term value. No HOA, no restrictions, and endless potential, only 5 minutes from downtown Greeneville. A once-in-a-lifetime opportunity to f

Key facts

• Metal roof
• Private pond
• Steel beams

Tags

• POURED CONCRETE WALLS
• STEEL BEAMS
• STAINED GLASS WINDOWS
• METAL ROOF
• UNRESTRICTED LAND
• PRIVATE POND

Property features AI

Finance

• Other: Approximately 5.56 acres; A1 zoning; Rolling, steep and wooded topography; Has a view
• Financial info: Details not provided
• HOA & community: Hidden Acres subdivision

Exterior

• Parking: Gravel parking
• Security: Details not provided
• Utilities: Public water; Septic tank sewer
• Home design: Single family house; Residential property; Property listed as fixer
• Construction: Brick construction; Metal roof; Concrete perimeter foundation; Built area approximately 1,129 (sq. ft. excluded from interior/exterior sections per instructions)
• Exterior features: Balcony

Interior

• Kitchen: Details not provided
• Bedrooms: Details not provided
• Flooring: Concrete
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Electric heating; Heat pump cooling
• Interior features: Concrete flooring; Living room fireplace; 4 total rooms
• Laundry & utility: Details not provided

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $125k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-1 ($-12/yr) — negative.
• To cash-flow at today's rent, offer at most $125k (0.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $118k (5.9% below list).
• Recommended offer: $114k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 2.6% in Greeneville — 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 66/100 on livability (#125 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Greene County (rural): math 27% / reading 24% proficiency, ranked #83 of 139 in TN (top 60%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Baileyton Elementary (math 37% / reading 27%, grade F, #369 of 952 statewide, top 42%, 434 students, 0% FRL); North Greene Middle School (math 21% / reading 17%, grade F, #204 of 333 statewide, top 62%, 201 students, 0% FRL); North Greene High School (math 12% / reading 32%, grade F, #163 of 332 statewide, top 51%, 314 students, 0% FRL) — zoned schools average 0% FRL vs 58% district-wide (58 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 223 active listings in the ZIP; 333 units permitted in Greene County in 2024 (72 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Greene County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 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: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,659 (9.0% 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 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.94% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.25%
• DSCR: 1.10
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -16.3%
• Equity multiple: 0.42×
• Total profit: $-20,242
• Equity at exit: $18,623

10-year hold

• IRR: -7.9%
• Equity multiple: 0.50×
• Total profit: $-17,467
• Equity at exit: $10,799

Cash invested: $34,972 (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 37745

• Home prices YoY: -6.0%
• Active inventory: 223
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,176 medium
• Mortgage (P&I): −$655
• Tax est. 1.5%: −$156 /mo · $1,874/yr
• Insurance: −$52
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $-1

Break-even live

Break-even rent $1,177

Max offer price $124,761

Occupancy floor 95%

Sensitivity live

Price	-10% $85	-5% $42	+0% $-1	+5% $-44	+10% $-87
Rent	-10% $-94	-5% $-47	+0% $-1	+5% $45	+10% $92
Rate	-1.0pp $62	-0.5pp $31	base $-1	+0.5pp $-33	+1.0pp $-66

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $124,900 Active 104 DOM
2. 2026-06-19
   days on market $124,900 Active 102 DOM
3. 2026-06-18
   days on market $124,900 Active 101 DOM
4. 2026-06-17
   days on market $124,900 Active 100 DOM
5. 2026-06-16
   days on market $124,900 Active 99 DOM
6. 2026-06-15
   days on market $124,900 Active 98 DOM
7. 2026-06-14
   days on market $124,900 Active 96 DOM
8. 2026-06-12
   days on market $124,900 Active 95 DOM
9. 2026-06-09
   days on market $124,900 Active 92 DOM
10. 2026-06-08
    days on market $124,900 Active 91 DOM
11. 2026-06-07
    days on market $124,900 Active 90 DOM
12. 2026-06-05
    days on market $124,900 Active 87 DOM
13. 2026-06-02
    days on market $124,900 Active 85 DOM
14. 2026-06-01
    days on market $124,900 Active 84 DOM
15. 2026-05-31
    days on market $124,900 Active 83 DOM
16. 2026-05-30
    days on market $124,900 Active 82 DOM
17. 2026-04-01
    price $124,900
18. 2026-03-25
    price $124,909
19. 2026-03-18
    status Active
20. 2026-02-11
    status Pending
21. 2026-02-09
    price $124,990
22. 2026-02-02
    listed $124,999 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 10/10 Extreme FEMA zone X (unshaded) · 100% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 4/10 Moderate 6 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,106
• − Mortgage interest: −$6,996
• − Property taxes: −$1,874
• − Insurance: −$1,422
• − Repairs & maintenance: −$1,128
• − Management: −$1,128
• − Depreciation: −$3,633
• Taxable loss: −$2,076
• Est. tax savings @ 24.0%: +$498
• After-tax cash flow: $487/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.

Condition & rehab AI · 13 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance to bring it up to a livable condition. Immediate attention is needed to address structural issues and debris removal.

Repairs flagged

• Major Exposed cabinets — Structural damage
• Major Exposed plumbing — Structural damage
• Major Exposed insulation — Structural damage
• Major Exposed walls — Structural damage
• Major Exposed beams — Structural damage
• Major Exposed ducts — Structural damage

Value-add opportunities

• Both Landscaping and curb appeal — Improves aesthetics and property value
• Both Interior finishing — Enhances living space and property value
• Both HVAC and mechanical repairs — Ensures comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed cabinets · Structural damage	Major	$15,000–50,000
Exposed plumbing · Structural damage	Major	$15,000–50,000
Exposed insulation · Structural damage	Major	$15,000–50,000
Exposed walls · Structural damage	Major	$15,000–50,000
Exposed beams · Structural damage	Major	$15,000–50,000
Exposed ducts · Structural damage	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both Landscaping and curb appeal — Improves aesthetics and property value ↑
• Both Interior finishing — Enhances living space and property value ↑
• Both HVAC and mechanical repairs — Ensures comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Greene County
• NCES district ID: 4701470
• Math proficiency: 27% ▼ -14.00%
• Reading proficiency: 24% ▼ -7.00%
• Median HH income: $37,517
• Composite: 21.3/100
• National rank: #8388
• State rank: #83 of 139 in TN

Livability — Greeneville

• Score: 66/100
• State rank: #125
• US rank: #11825

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Greene County · 45,638 people
• City population: 45,638
• Metro: Greeneville, TN
• Population (ZIP): 21,090
• Household income: $57,159
• Rent vs Own: 25.8% rent · 74.2% own
• Severe rent burden: 359.0

Population outlook (Greene County) Hauer SSP2

• Today (2025): 68,624 people
• By 2030: 68,114 · -0.7%
• By 2040: 66,167 · -3.6%
• By 2050: 63,038 · -8.1%
• By 2075: 55,274 · -19.5%
• By 2100: 45,527 · -33.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 8% Two or more races 5% Black 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Serbian 2% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% Chinese 1%

Political lean MEDSL · Greene

• 2024 margin: Solid R (+65.7) · D 16.6% · R 82.3% · Other 1.2%
• 2008→2024 swing: -25.0pp toward R · 2008: -40.7pp · 2024: -65.7pp
• All cycles: 2024: R+65.7 2020: R+60.7 2016: R+61.0 2012: R+46.0 2008: R+40.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.99%
• Current HPI: 295.4621
• Rent YoY: —
• Metro: Greeneville, 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

-0.1% since first listed

6 events — show timeline

• 2026-04-01 Price Changed $124,900 TVRMLS
• 2026-03-25 Price Changed $124,909 TVRMLS
• 2026-03-18 Relisted — TVRMLS
• 2026-02-11 Pending — TVRMLS
• 2026-02-09 Price Changed $124,990 TVRMLS
• 2026-02-02 Listed $124,999 TVRMLS