115 Greenland Ct · Clarksville, TN 37042

$124,500

2 bd · 2.0 ba · 1,092 sqft · Townhouse public records · 5 Days on market

Built 1986 1,306 sqft lot Est $155k · 20% under $150/mo HOA · 12% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +14.5/30.0
• 1% rule +5.4/10.0
• DSCR +4.4/10.0
• Livability +4.2/5.0
• Rent growth +2.8/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This adorable remodeled two bedroom townhome is available now. Was being used as an airbnb and month to month rental. Great floorplan and wonderful community. This townhome is the perfect little home for a little family or a great investor for someone who wants a short term or long term rental property. I have another townhome for sale in this subdivision as well. Fully remodeled. 110 Carriage Place.

Key facts

• $150 HOA
• Built 1986
• Listed 5 days

Property features AI

Finance

• HOA & community: Condominium common interest; HOA fee approximately $150 monthly; No pets allowed

Exterior

• Parking: No covered spaces listed; No parking total listed
• Utilities: Public water; Public sewer; Water available
• Home design: Residential townhouse; Attached property; Two levels; Existing construction
• Construction: Vinyl siding and other construction materials; Assessor-recorded living area approximately 1,092 square feet
• Exterior features: Small lot (approximately 0.03 acres)

Interior

• Kitchen: No appliances listed
• Bedrooms: Two bedrooms
• Flooring: Other flooring
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Basement with other/unspecified features; No built-in appliances listed
• Laundry & utility: No washer/dryer or utility appliances listed

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $124k.

Deal economics

• At list price, monthly cash flow is $28 ($331/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $124k).
• Cap rate 6.6% vs local median 3.5% in Clarksville — 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 84/100 on livability (#1 in TN, #798 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment C-, crime D+.
• Montgomery County (urban): math 25% / reading 31% proficiency, ranked #65 of 139 in TN (top 47%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Ringgold Elementary (math 19% / reading 23%, grade F, #633 of 952 statewide, top 67%, 801 students, 0% FRL); Kenwood Middle (math 9% / reading 15%, grade F, #242 of 333 statewide, top 74%, 1,121 students, 0% FRL); Kenwood High (math 5% / reading 29%, grade F, #225 of 332 statewide, top 69%, 1,291 students, 0% FRL) — zoned schools average 0% FRL vs 40% district-wide (40 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.3%/yr); 895 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,583 units permitted in Montgomery County in 2024 (617 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $861 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Montgomery County population projected at +49% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 4y 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.

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 $124,500

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.04% ✓
• Cap rate: 6.56%
• Cash-on-cash: 0.95%
• DSCR: 1.04
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $155,064
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Carriage Pl	0.05mi	2/1.5	1,092 (0%)	1mo	$155,000	$142	95
112 Greenland Ct	0.02mi	2/1.5	1,092 (0%)	2mo	$142,500	$130	95
109 Azalea Ct	0.10mi	2/1.5	1,096 (+0%)	5mo	$149,500	$136	88
115 Carriage Pl	0.05mi	2/1.5	1,092 (0%)	10mo	$159,950	$146	88
106 Greenland Ct	0.03mi	2/1.5	1,092 (0%)	13mo	$189,900	$174	86
109 Carriage Pl	0.05mi	2/1.5	1,092 (0%)	21mo	$160,000	$147	78
111 Azalea Ct	0.10mi	2/1.5	1,140 (+4%)	9mo	$157,000	$138	78

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.27% rent growth · sell at horizon

5-year hold

• IRR: -16.9%
• Equity multiple: 0.41×
• Total profit: $-20,529
• Equity at exit: $18,563

10-year hold

• IRR: -12.8%
• Equity multiple: 0.31×
• Total profit: $-23,967
• Equity at exit: $10,764

Cash invested: $34,860 (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 37042

• Home prices YoY: -18.2%
• Rents YoY: 1.3%
• Active inventory: 895
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,292 high
• Mortgage (P&I): −$653
• Tax from tax record: −$138 /mo · $1,657/yr
• Insurance: −$52
• HOA: −$150
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $28

Break-even live

Break-even rent $1,257

Max offer price $124,500

Occupancy floor 93%

Sensitivity live

Price	-10% $98	-5% $63	+0% $28	+5% $-8	+10% $-43
Rent	-10% $-74	-5% $-23	+0% $28	+5% $79	+10% $130
Rate	-1.0pp $90	-0.5pp $59	base $28	+0.5pp $-5	+1.0pp $-38

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: $31,125
• Closing costs: $3,735
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1986 Timberline Way Clarksville, TN	3.0	2.0	1254	$1,511	$1.20	22d	1	0.09mi
102 Eaglewood Ct Clarksville, TN	3.0	2.0	1062	$1,395	$1.31	22d	1	0.23mi
300 Ringgold Rd Clarksville, TN	2.0	1.5	1050	$995	$0.95	22d	1	0.24mi
2113 Ringgold Ct Unit 207 Clarksville, TN	2.0	2.0	960	$875	$0.91	22d	1	0.25mi
2113 Ringgold Ct #306 Clarksville, TN	3.0	2.0	1090	$1,015	$0.93	22d	1	0.26mi
2119 Ringgold Ct Unit 208 Clarksville, TN	2.0	2.0	1090	$875	$0.80	22d	1	0.29mi
144 Waterwheel Cir Clarksville, TN	3.0	2.0	1261	$1,650	$1.31	22d	1	0.34mi
144 Waterwheel Cir Clarksville, TN	3.0	2.0	1261	$1,550	$1.23	15d	1	0.34mi
15 Millswood Dr Unit D-112 Clarksville, TN	3.0	2.0	1172	$1,585	$1.35	22d	1	0.46mi
2011 Windroe Dr Clarksville, TN	3.0	2.0	1400	$1,500	$1.07	22d	1	0.49mi
1260 Parkway Pl Clarksville, TN	2.0	1.5	1080	$1,095	$1.01	22d	1	0.68mi
1671 Fort Campbell Blvd Clarksville, TN	1.0–2.0	1.0–1.5	726	$1,206	$1.66	22d	18	0.70mi
1235 Parkway Pl Clarksville, TN	2.0	1.0	920	$795	$0.86	22d	1	0.74mi
1244 Parkway Pl Unit C Clarksville, TN	2.0	1.5	1100	$1,000	$0.91	22d	1	0.75mi
1237 Parkway Pl Unit C Clarksville, TN	2.0	1.0	984	$850	$0.86	22d	1	0.75mi
1245 Parkway Pl Unit D Clarksville, TN	2.0	1.0	984	$850	$0.86	22d	1	0.79mi
221 Mills Dr Clarksville, TN	3.0	1.5	1100	$1,150	$1.05	15d	1	0.83mi
248 Drayton Dr Clarksville, TN	2.0–3.0	1.5–2.5	1060	$1,205	$1.14	15d	21	1.01mi
325 Mills Dr Clarksville, TN	3.0	2.0	1100	$1,800	$1.64	15d	1	1.07mi
205 Norris Dr Clarksville, TN	3.0	2.0	1225	$2,000	$1.63	22d	1	1.07mi
509 Britton Springs Rd Unit B2 Clarksville, TN	2.0	1.5	880	$1,095	$1.24	22d	1	1.09mi
161 Hadley Dr Unit B Clarksville, TN	3.0	2.0	1250	$1,450	$1.16	22d	1	1.09mi
511 Britton Springs Rd Apt C1 Clarksville, TN	2.0	1.5	880	$1,095	$1.24	22d	1	1.11mi
113 W Fork Dr Unit D Clarksville, TN	2.0	1.0	750	$850	$1.13	22d	1	1.11mi
1040 Glenkirk Dr Unit D Clarksville, TN	2.0	2.5	1146	$1,450	$1.27	22d	1	1.12mi
200 Drayton Dr Unit A Clarksville, TN	2.0	2.5	1146	$1,500	$1.31	22d	1	1.13mi
208 Drayton Dr Unit F Clarksville, TN	2.0	2.5	1146	$1,295	$1.13	22d	1	1.16mi
220 Drayton Dr Unit D Clarksville, TN	2.0	2.5	1146	$1,295	$1.13	15d	1	1.18mi
212 Drayton Dr Unit E Clarksville, TN	2.0	2.5	1146	$1,650	$1.44	22d	1	1.18mi
227 Short St Clarksville, TN	3.0	2.0	1189	$1,675	$1.41	22d	1	1.18mi
216 Drayton Dr Unit B Clarksville, TN	2.0	1.5	1146	$1,200	$1.05	22d	1	1.20mi
216 Drayton Dr Unit C Clarksville, TN	2.0	1.5	1146	$1,395	$1.22	22d	1	1.20mi
216 Drayton Dr Clarksville, TN	2.0	2.5	1146	$1,395	$1.22	22d	1	1.20mi
1024 Glenkirk Dr Clarksville, TN	2.0	1.5	1146	$1,395	$1.22	22d	1	1.22mi
1031 Glenkirk Dr Clarksville, TN	2.0	1.5	1146	$1,395	$1.22	22d	1	1.22mi
1032 Glenkirk Dr Clarksville, TN	2.0	1.5	1146	$1,395	$1.22	22d	1	1.22mi
1023 Glenkirk Dr Clarksville, TN	2.0	1.5	1146	$1,415	$1.23	22d	1	1.22mi
533 Patriot Park Ct Unit C Clarksville, TN	2.0	1.5	1100	$1,150	$1.05	22d	1	1.32mi
524 Patriot Park Ct Unit D Clarksville, TN	2.0	1.5	1020	$995	$0.98	22d	1	1.32mi
3 Lexington Dr #3 Clarksville, TN	2.0	1.0	788	$850	$1.08	22d	1	1.34mi

HOA detail

• Monthly dues: $150 · $1,800/yr

Listing history 4 events

1. 2026-06-21
   days on market $124,500 Active 5 DOM
2. 2026-06-18
   days on market $124,500 Active 2 DOM
3. 2026-06-16
   remarks 185-char remark
4. 2026-06-16
   listed $124,500 Active 1 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: $1,657 · $138/mo
• Projected year-2 tax: $1,657 · $138/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,500
• − Mortgage interest: −$6,974
• − Property taxes: −$1,657
• − Insurance: −$622
• − Repairs & maintenance: −$1,240
• − Management: −$1,240
• − HOA: −$1,800
• − Depreciation: −$3,622
• Taxable loss: −$1,655
• Est. tax savings @ 24.0%: +$397
• After-tax cash flow: $728/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: Montgomery County
• NCES district ID: 4703030
• Math proficiency: 25% ▼ -20.00%
• Reading proficiency: 31% ▼ -10.00%
• Median HH income: $50,423
• Composite: 24.56/100
• National rank: #7641
• State rank: #65 of 139 in TN

Livability — Clarksville

• Score: 84/100
• State rank: #1
• US rank: #798

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clarksville, TN
• County: Montgomery County · 211,371 people
• City population: 211,371
• Metro: Clarksville, TN-KY
• Population (ZIP): 87,652
• Household income: $70,393
• Rent vs Own: 41.4% rent · 58.6% own
• Severe rent burden: 2093.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 236,633 people
• By 2030: 258,978 · +9.4%
• By 2040: 305,456 · +29.1%
• By 2050: 353,147 · +49.2%
• By 2075: 471,289 · +99.2%
• By 2100: 564,122 · +138.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 48% Black 26% Hispanic / Latino 15% Two or more races 13% Asian 3%
• Hispanic origin (detail): Mexican 6% Puerto Rican 4%
• Common ancestry: Italian 4% Slovak 1% Lithuanian 1%
• Foreign-born: 8% · Canada, South Korea, China
• Languages at home: 88% English-only · Spanish 8% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Montgomery

• 2024 margin: R (+18.4) · D 40.0% · R 58.5% · Other 1.5%
• 2008→2024 swing: -10.5pp toward R · 2008: -7.9pp · 2024: -18.4pp
• All cycles: 2024: R+18.4 2020: R+12.7 2016: R+18.6 2012: R+10.5 2008: R+7.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.81%
• Current HPI: 264.4911
• Rent YoY: ▲ 1.27%
• Metro: Clarksville, TN-KY
• 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

+398.0% since first listed

13 events — show timeline

• 2026-06-16 Listed $124,500 REALTRACS as Distributed by MLS Grid
• 2022-10-25 Sold (MLS) $190,000 REALTRACS as Distributed by MLS Grid
• 2022-10-17 Sold (Public Records) $190,000 Public Records
• 2022-09-16 Contingent — REALTRACS as Distributed by MLS Grid
• 2022-09-08 Relisted — REALTRACS as Distributed by MLS Grid
• 2022-09-06 Contingent — REALTRACS as Distributed by MLS Grid
• 2022-08-26 Listed $190,000 REALTRACS as Distributed by MLS Grid
• 2022-08-02 Sold (Public Records) $165,000 Public Records
• 2022-08-02 Sold (MLS) $165,000 REALTRACS as Distributed by MLS Grid
• 2022-07-08 Pending — REALTRACS as Distributed by MLS Grid
• 2022-07-06 Listed $160,000 REALTRACS as Distributed by MLS Grid
• 2020-01-03 Sold (Public Records) $27,500 Public Records
• 2001-03-12 Sold (Public Records) $25,000 Public Records

Property tax history

+11.1%/yr

Latest (2025): $1,657 · +1.3% YoY. Source: county tax records.