10761 Old State Highway 28 · Pikeville, TN 37367

$109,000

2 bd · 2.0 ba · 840 sqft · Other · 85 Days on market

Built 2024 0.50 ac lot ↓ 16% since listing

---

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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks MLS

Located on level half acre lot only 3 miles from the city of Pikeville, This charming one story home with two outbuilding, nice carport and big shade trees.

Key facts

• Nice carport
• Big shade trees
• Level half acre lot

Tags

• LEVEL HALF ACRE LOT
• TWO OUTBUILDING
• NICE CARPORT
• BIG SHADE TREES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $109k.

Deal economics

• At list price, monthly cash flow is $853 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Recommended offer: $102k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.7% vs local median 4.8% in Pikeville — 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 (#296 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing B+; Watch: health & safety C-, schools F, amenities F.
• Bledsoe County (rural): math 19% / reading 27% proficiency, ranked #104 of 139 in TN (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 155 active listings in the ZIP.
• This rent runs 45% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $12k of equity ($754 loan paydown + $11k appreciation (10.0% local appreciation)).
• Bledsoe County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($102k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire 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 $102,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 1.87% ✓
• Cap rate: 15.69%
• Cash-on-cash: 33.55%
• DSCR: 2.49
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 49.9%
• Equity multiple: 4.73×
• Total profit: $113,745
• Equity at exit: $98,196

10-year hold

• IRR: 43.6%
• Equity multiple: 10.58×
• Total profit: $292,280
• Equity at exit: $211,763

Cash invested: $30,520 (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 37367

• Home prices YoY: 34.5%
• Active inventory: 155
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,034 medium
• Mortgage (P&I): −$572
• Tax est. 1.5%: −$136 /mo · $1,635/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $853

Break-even live

Break-even rent $954

Max offer price $109,000

Occupancy floor 53%

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-15
   status $109,000 Pending 85 DOM
2. 2026-06-15
   days on market $109,000 Active 85 DOM
3. 2026-06-14
   days on market $109,000 Active 83 DOM
4. 2026-06-10
   days on market $109,000 Active 80 DOM
5. 2026-06-09
   days on market $109,000 Active 79 DOM
6. 2026-06-08
   days on market $109,000 Active 78 DOM
7. 2026-06-07
   days on market $109,000 Active 77 DOM
8. 2026-06-03
   days on market $109,000 Active 73 DOM
9. 2026-06-02
   days on market $109,000 Active 72 DOM
10. 2026-06-01
    days on market $109,000 Active 71 DOM
11. 2026-05-31
    days on market $109,000 Active 70 DOM
12. 2026-05-30
    days on market $109,000 Active 69 DOM
13. 2026-04-07
    price $109,000 156-char remark

    Show marketing remark (156 chars)

    Located on level half acre lot only 3 miles from the city of Pikeville, This charming one story home with two outbuilding, nice carport and big shade trees.

14. 2026-03-20
    listed $129,900 Active 156-char remark

    Show marketing remark (156 chars)

    Located on level half acre lot only 3 miles from the city of Pikeville, This charming one story home with two outbuilding, nice carport and big shade trees.

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,404
• − Mortgage interest: −$6,106
• − Property taxes: −$1,635
• − Insurance: −$545
• − Repairs & maintenance: −$1,952
• − Management: −$1,952
• − Depreciation: −$3,171
• Taxable income: $9,043
• Est. tax owed @ 24.0%: −$2,170
• After-tax cash flow: $8,070/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: Bledsoe County
• NCES district ID: 4700270
• Math proficiency: 19% ▼ -13.00%
• Reading proficiency: 27% ▼ -1.00%
• Median HH income: $35,901
• Composite: 19.02/100
• National rank: #8845
• State rank: #104 of 139 in TN

Livability — Pikeville

• Score: 59/100
• State rank: #296
• US rank: #20539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Bledsoe · 11,736 people
• Population (ZIP): 11,736
• Household income: $54,696
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 2.1

Population outlook (Bledsoe County) Hauer SSP2

• Today (2025): 18,085 people
• By 2030: 19,649 · +8.6%
• By 2040: 22,438 · +24.1%
• By 2050: 24,582 · +35.9%
• By 2075: 26,769 · +48.0%
• By 2100: 25,033 · +38.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Italian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Bledsoe

• 2024 margin: Solid R (+70.5) · D 14.4% · R 84.9%
• 2008→2024 swing: -36.0pp toward R · 2008: -34.5pp · 2024: -70.5pp
• All cycles: 2024: R+70.5 2020: R+65.2 2016: R+58.6 2012: R+40.3 2008: R+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 106.44%
• Current HPI: 415.344
• 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

-16.1% since first listed

2 events — show timeline

• 2026-04-07 Price Changed $109,000 GCAR
• 2026-03-20 Listed $129,900 GCAR

Property tax history

+1.5%/yr

Latest (2025): $65 · +0.0% YoY. Source: county tax records.