125-127 Ivie Cir · Martin, TN 38237

$215,900

None bd · None ba · 1,964 sqft · MultiFamily · 38 Days on market

Built 1991 Fair condition 0.38 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 +22.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.8/10.0
• Livability +3.8/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Investment Opportunity! Close to UTM! Nice duplex with 2 bedroom / 1 bath units. Both units include refrigerator, stove, and dishwasher and have front and back porches. Both sides are currently leased. 24 hour notice to show.

Key facts

• Cul de sac location
• New roof
• 0.38 acre lot

Tags

• INCOME PRODUCING DUPLEX
• NEW ROOF
• CUL DE SAC LOCATION

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Duplex (residential income property)
• Construction: Vinyl siding; Shingle roof
• Exterior features: Level lot; Located on a cul-de-sac; Paved road access

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Flooring: Carpet; Vinyl
• Heating & cooling: Heat pump heating; Heat pump cooling
• Interior features: Blinds on windows; Crawl space basement; Fireplace (1) — no special fireplace features listed
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $216k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $343 ($4k/yr) — positive. Per door: $172/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $216k).
• Recommended offer: $209k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 4.0% in Martin — 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 75/100 on livability (#15 in TN, #4,330 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: schools D+, commute F, employment F.
• Weakley County (rural): math 34% / reading 38% proficiency, ranked #32 of 139 in TN (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 85 active listings in the ZIP; 69 units permitted in Weakley County in 2024 (0 in 5+ unit buildings).
• At $2,323/mo this rent would consume 54% of the median local household income ($52k/yr) (locally 636% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Weakley County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $146k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $209,423 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.08% ✓
• Cap rate: 8.20%
• Cash-on-cash: 6.81%
• DSCR: 1.30
• GRM: 7.7

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: -5.8%
• Equity multiple: 0.78×
• Total profit: $-13,096
• Equity at exit: $32,191

10-year hold

• IRR: 3.8%
• Equity multiple: 1.28×
• Total profit: $16,880
• Equity at exit: $18,667

Cash invested: $60,452 (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 38237

• Home prices YoY: -16.5%
• Active inventory: 85
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $2,323 medium
• Mortgage (P&I): −$1,132
• Tax est. 1.5%: −$270 /mo · $3,238/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $343

Break-even live

Break-even rent $1,889

Max offer price $215,900

Occupancy floor 80%

Sensitivity live

Price	-10% $492	-5% $418	+0% $343	+5% $269	+10% $194
Rent	-10% $160	-5% $251	+0% $343	+5% $435	+10% $527
Rate	-1.0pp $452	-0.5pp $398	base $343	+0.5pp $287	+1.0pp $230

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,322
Total (2 units)			$2,323

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: $53,975
• Closing costs: $6,477
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $215,900 Active 38 DOM
2. 2026-06-18
   days on market $215,900 Active 37 DOM
3. 2026-06-17
   days on market $215,900 Active 36 DOM
4. 2026-06-16
   days on market $215,900 Active 35 DOM
5. 2026-06-15
   days on market $215,900 Active 34 DOM
6. 2026-06-14
   days on market $215,900 Active 32 DOM
7. 2026-06-12
   days on market $215,900 Active 31 DOM
8. 2026-06-09
   days on market $215,900 Active 28 DOM
9. 2026-06-08
   days on market $215,900 Active 27 DOM
10. 2026-06-07
    days on market $215,900 Active 26 DOM
11. 2026-06-04
    days on market $215,900 Active 22 DOM
12. 2026-06-02
    days on market $215,900 Active 21 DOM
13. 2026-06-01
    days on market $215,900 Active 20 DOM
14. 2026-05-31
    days on market $215,900 Active 19 DOM
15. 2026-05-31
    days on market $215,900 Active 18 DOM
16. 2026-05-12
    listed $215,900 Active
17. 2022-01-20
    soldstatus $146,500 225-char remark

    Show marketing remark (225 chars)

    Investment Opportunity! Close to UTM! Nice duplex with 2 bedroom / 1 bath units. Both units include refrigerator, stove, and dishwasher and have front and back porches. Both sides are currently leased. 24 hour notice to show.

18. 2021-11-14
    listed $136,500 225-char remark

    Show marketing remark (225 chars)

    Investment Opportunity! Close to UTM! Nice duplex with 2 bedroom / 1 bath units. Both units include refrigerator, stove, and dishwasher and have front and back porches. Both sides are currently leased. 24 hour notice to show.

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,876
• − Mortgage interest: −$12,094
• − Property taxes: −$3,238
• − Insurance: −$1,080
• − Repairs & maintenance: −$2,230
• − Management: −$2,230
• − Depreciation: −$6,281
• Taxable income: $723
• Est. tax owed @ 24.0%: −$174
• After-tax cash flow: $3,944/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 · 10 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations to improve its condition and value. The new roof and siding would significantly enhance its curb appeal and rental potential.

Repairs flagged

• Major wooden deck — rotting and unstable
• Major wooden railings — rotting and unstable
• Moderate wooden siding — some discoloration

Value-add opportunities

• Both new roof — improves both resale and rental value
• Both new siding — enhances curb appeal and value
• Both new flooring — improves living space and rental appeal
• Both paint interior walls — refreshes the home's appearance
• Both HVAC system — improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
wooden deck · rotting and unstable	Major	$15,000–50,000
wooden railings · rotting and unstable	Major	$15,000–50,000
wooden siding · some discoloration	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$33,000–115,000

Value-add ROI direction

• Both new roof — improves both resale and rental value ↑
• Both new siding — enhances curb appeal and value ↑
• Both new flooring — improves living space and rental appeal ↑
• Both paint interior walls — refreshes the home's appearance ↑
• Both HVAC system — improves 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: Weakley County
• NCES district ID: 4704470
• Math proficiency: 34% ▼ -10.00%
• Reading proficiency: 38% ▼ -2.00%
• Median HH income: $35,389
• Composite: 29.77/100
• National rank: #6434
• State rank: #32 of 139 in TN

Livability — Martin

• Score: 75/100
• State rank: #15
• US rank: #4330

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Martin, TN
• County: Weakley County · 15,627 people
• City population: 15,627
• Metro: Martin, TN
• Population (ZIP): 15,627
• Household income: $51,670
• Rent vs Own: 44.6% rent · 55.4% own
• Severe rent burden: 636.0

Population outlook (Weakley County) Hauer SSP2

• Today (2025): 31,862 people
• By 2030: 30,688 · -3.7%
• By 2040: 27,935 · -12.3%
• By 2050: 25,485 · -20.0%
• By 2075: 21,080 · -33.8%
• By 2100: 18,214 · -42.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 13% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 4% · Canada, Vietnam, South Korea
• Languages at home: 95% English-only · Spanish 2% Vietnamese 1% Other Indo-European 1%

Political lean MEDSL · Weakley

• 2024 margin: Solid R (+58.4) · D 20.3% · R 78.7%
• 2008→2024 swing: -27.2pp toward R · 2008: -31.1pp · 2024: -58.4pp
• All cycles: 2024: R+58.4 2020: R+53.7 2016: R+51.4 2012: R+41.0 2008: R+31.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.05%
• Current HPI: 233.76
• Rent YoY: —
• Metro: Martin, 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

+58.2% since first listed

3 events — show timeline

• 2026-05-12 Listed $215,900 RRAR as distributed by MLS GRID
• 2022-01-20 Sold (MLS) $146,500 RRAR as distributed by MLS GRID
• 2021-11-14 Listed $136,500 RRAR as distributed by MLS GRID