647 W Lamar Alexander Pkwy

Maryville, TN 37801

$98,000B

2 bd · 1.0 ba · 720 sqft · Built 1982 · SingleFamily · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,454/mo
• Mortgage (P&I): −$514
• Tax + insurance: −$86
• HOA: −$0
• Vac / Maint / Mgmt: −$305
• Net cashflow: $549/mo
• Annual: $6,591/yr
• Cap rate: 13.02%
• Cash-on-cash: 24.02%
• DSCR: 2.07
• 1% rule: 1.48%
• Cash to close: $27,440

Investor read

• This is a 2-bed/1.0-bath single-family listed at $98k.
• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $678 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#38 in TN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D, commute F, health & safety F.
• Maryville (suburban): math 58% / reading 55% proficiency, ranked #5 of 139 in TN (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.3%/yr); 175 active listings in the ZIP; 937 units permitted in Blount County in 2024 (57 in 5+ unit buildings).
• Blount County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.
• 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.
• Cap rate 13.0% vs local median 3.7% in Maryville — 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.