217 Haynes St · Lewisburg, TN 37091

$139,900

3 bd · 2.0 ba · 1,672 sqft · MultiFamily public records · 7 Days on market

Built 1935 4,356 sqft lot

---

Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Duplex has 2 beds and full bath on each side. Bring your investors! 2 rent producing properties in 1! Each have their own utilities. Need some interior work, but has great potential! newer windows and roof 5 years old. Shed available to purchase but does not stay with house. Property is sold AS-IS

Key facts

• 4,356 sq ft lot
• 2 parking spots
• Built 1935

Property features AI

Exterior

• Parking: 2 total parking spaces (2 open); No covered parking
• Utilities: Public water; Public sewer; Water service available
• Home design: Single-family residence; One story; Residential property
• Construction: Vinyl siding; Crawl space foundation; Existing structure (built previously)
• Exterior features: Lot approximately 0.1 acre (75 x 84)

Interior

• Kitchen: Range
• Bedrooms: 4 bedrooms (all on main level)
• Flooring: Wood flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Wall furnace heating; Wall/window air conditioning units
• Interior features: Range (cooktop/oven)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Cap rate 16.2% vs local median 3.6% in Lewisburg — 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 59/100 on livability (#284 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Marshall County (rural): math 31% / reading 29% proficiency, ranked #58 of 139 in TN (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Marshall Elementary (math 27% / reading 27%, grade F, #496 of 952 statewide, top 55%, 388 students, 0% FRL); Marshall Co High School (math 17% / reading 35%, grade F, #117 of 332 statewide, top 37%, 815 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 274 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 400 units permitted in Marshall County in 2024 (75 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Marshall County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 15y 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 $35k; list at $140k implies a 300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,900

Questions for the listing agent

1. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F 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?
5. 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.
6. 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.
7. 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: 1.83% ✓
• Cap rate: 16.16%
• Cash-on-cash: 35.24%
• DSCR: 2.57
• GRM: 4.5

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: 30.8%
• Equity multiple: 2.29×
• Total profit: $50,589
• Equity at exit: $20,860

10-year hold

• IRR: 38.0%
• Equity multiple: 4.53×
• Total profit: $138,338
• Equity at exit: $12,096

Cash invested: $39,172 (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 37091

• Home prices YoY: -14.6%
• Active inventory: 274
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,567 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$85 /mo · $1,022/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$539
• Net cashflow: $1,150

Break-even live

Break-even rent $1,110

Max offer price $139,900

Occupancy floor 50%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
423 4th Ave N Lewisburg, TN	2.0	1.0	1086	$790	$0.73	23d	1	0.13mi
335 E Hill Ave Lewisburg, TN	3.0	2.0	1800	$5,000	$2.78	43d	1	0.25mi

Listing history 6 events

1. 2026-06-07
   statusdays on market $139,900 Pending 7 DOM
2. 2026-06-03
   days on market $139,900 Active 5 DOM
3. 2026-06-02
   remarks 409-char remark
4. 2026-06-02
   days on market $139,900 Active 4 DOM
5. 2026-06-01
   days on market $139,900 Active 3 DOM
6. 2026-05-31
   days on market $139,900 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TN · Resets to sale price

• Current annual tax: $1,022 · $85/mo
• Projected year-2 tax: $1,022 · $85/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,799
• − Mortgage interest: −$7,837
• − Property taxes: −$1,022
• − Insurance: −$700
• − Repairs & maintenance: −$2,464
• − Management: −$2,464
• − Depreciation: −$4,070
• Taxable income: $12,243
• Est. tax owed @ 24.0%: −$2,938
• After-tax cash flow: $10,867/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: Marshall County
• NCES district ID: 4702670
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 29% ▼ -5.00%
• Median HH income: $43,058
• Composite: 25.56/100
• National rank: #7426
• State rank: #58 of 139 in TN

Livability — Lewisburg

• Score: 59/100
• State rank: #284
• US rank: #20031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lewisburg, TN
• Population (ZIP): 23,991

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 33,222 people
• By 2030: 33,867 · +1.9%
• By 2040: 34,743 · +4.6%
• By 2050: 34,954 · +5.2%
• By 2075: 34,652 · +4.3%
• By 2100: 31,862 · -4.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 8% Black 5% Two or more races 4%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Serbian 4% Slovak 2% Romanian 1%
• Foreign-born: 3% · Canada, Jamaica, Vietnam
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Marshall

• 2024 margin: Solid R (+56.6) · D 21.2% · R 77.8%
• 2008→2024 swing: -17.0pp toward R · 2008: -39.6pp · 2024: -56.6pp
• All cycles: 2024: R+56.6 2020: R+50.0 2016: R+46.6 2012: R+28.9 2008: R+39.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.86%
• Current HPI: 350.5306
• 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

+254.2% since first listed

12 events — show timeline

• 2026-05-29 Listed $139,900 REALTRACS as Distributed by MLS Grid
• 2026-05-29 Listed $139,900 REALTRACS as Distributed by MLS Grid
• 2026-05-29 Coming Soon $139,900 REALTRACS as Distributed by MLS Grid
• 2026-05-29 Coming Soon $139,900 REALTRACS as Distributed by MLS Grid
• 2012-09-11 Sold (Public Records) $35,100 Public Records
• 2012-09-11 Sold (MLS) $35,000 REALTRACS as Distributed by MLS Grid
• 2012-09-10 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2012-09-10 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2012-07-09 Listed $36,500 REALTRACS as Distributed by MLS Grid
• 2011-08-10 Listed $36,500 REALTRACS as Distributed by MLS Grid
• 2011-02-17 Sold (Public Records) $28,000 Public Records
• 2001-10-12 Sold (Public Records) $39,500 Public Records

Property tax history

+6.1%/yr

Latest (2025): $1,022 · +7.9% YoY. Source: county tax records.