150 Fisk Dr

La Vergne, TN 37086

$238,000D

2 bd · 1.0 ba · 783 sqft · Built 1958 · SingleFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,768/mo
• Mortgage (P&I): −$1,248
• Tax + insurance: −$210
• HOA: −$0
• Vac / Maint / Mgmt: −$371
• Net cashflow: $-62/mo
• Annual: $-741/yr
• Cap rate: 5.98%
• Cash-on-cash: -1.11%
• DSCR: 0.95
• 1% rule: 0.74%
• Cash to close: $66,640

Investor read

• This is a 2-bed/1.0-bath single-family listed at $238k.
• At list price, monthly cash flow is $-62 ($-741/yr) — negative.
• To cash-flow at today's rent, offer at most $227k (4.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (25.7% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $177k (25.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#171 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: crime D-, amenities F, commute F.
• Rutherford County (suburban): math 34% / reading 37% proficiency, ranked #22 of 139 in TN (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: John Colemon Elementary (math 33% / reading 27%, grade F, #415 of 952 statewide, top 44%, 767 students, 0% FRL); Lavergne Middle School (math 21% / reading 17%, grade F, #204 of 333 statewide, top 62%, 1,091 students, 0% FRL); Lavergne High School (math 8% / reading 30%, grade F, #202 of 332 statewide, top 62%, 2,100 students, 0% FRL) — zoned schools average 0% FRL vs 36% district-wide (36 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 23% at this address vs 36% district-wide (-13 pts) — the specific schools serving this property underperform the Rutherford County average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents soft (-1.0%/yr); 271 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,421 units permitted in Rutherford County in 2024 (400 in 5+ unit buildings).
• Rutherford County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 3.6% in La Vergne — 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

• 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?
• Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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?
• 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.