5115 Hwy 226 · Olivet, TN 38372

$114,900

2 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 188 Days on market

Built 1944 0.25 ac lot ↓ 4% since listing

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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).

• Cash flow +18.6/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +3.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Say hello to this charming 2 bedroom, 1 bath home offering a spacious, open floor plan, and thoughtful features throughout. The kitchen is equipped with stainless steel appliances & a generous walk-in pantry, perfect for storage and organization! The spacious living/dining area is perfect for gatherings, game night, & dinner around your farm house table. Enjoy cozy evenings by the gas fireplace and sunny days on the inviting front porch or the private rear deck - ideal for grilling or relaxing. The large garage provides ample space for parking, storage, or hobbies. Conveniently located...just minutes from shopping and just a short drive to Pickwick Lake. This adorable home blends comfort, functionality, and location in one perfect package, whether your buying your first home, downsizing, retiring, or looking for an investment! Yours for the new price of $114,900. **Some virtual staging & virtual painting have been done in a few photos to show the potential this home has to offer.**

Key facts

• Open floor plan
• Front porch
• Gas fireplace

Tags

• OPEN FLOOR PLAN
• STAINLESS STEEL APPLIANCES
• WALK-IN PANTRY
• GAS FIREPLACE
• FRONT PORCH
• PRIVATE REAR DECK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $100k (13.4% below list).
• Recommended offer: $100k (13.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#242 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools F, amenities F, commute F.
• Hardin County (rural): math 27% / reading 28% proficiency, ranked #76 of 139 in TN (top 55%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 388 active listings in the ZIP; 24 units permitted in Hardin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($794 loan paydown + $11k appreciation (10.0% local appreciation)).
• Hardin County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 188 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $11k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $99,532 (13.4% below list)

Questions for the listing agent

1. It's been on market 188 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.87% ✗
• Cap rate: 7.46%
• Cash-on-cash: 4.17%
• DSCR: 1.19
• GRM: 9.6

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: 27.3%
• Equity multiple: 3.16×
• Total profit: $69,640
• Equity at exit: $103,511

10-year hold

• IRR: 23.8%
• Equity multiple: 7.20×
• Total profit: $199,361
• Equity at exit: $223,225

Cash invested: $32,172 (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 38372

• Home prices YoY: 5.5%
• Active inventory: 388
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $995 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$24 /mo · $289/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $112

Break-even live

Break-even rent $854

Max offer price $114,900

Occupancy floor 84%

Sensitivity live

Price	-10% $177	-5% $144	+0% $112	+5% $79	+10% $47
Rent	-10% $33	-5% $72	+0% $112	+5% $151	+10% $190
Rate	-1.0pp $170	-0.5pp $141	base $112	+0.5pp $82	+1.0pp $52

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-04-07
   status Active 1008-char remark

   Show marketing remark (1022 chars)

   Say hello to this charming 2 bedroom, 1 bath home offering a spacious, open floor plan, and thoughtful features throughout. The kitchen is equipped with stainless steel appliances & a generous walk-in pantry, perfect for storage and organization! The spacious living/dining area is perfect for gatherings, game night, & dinner around your farm house table. Enjoy cozy evenings by the gas fireplace and sunny days on the inviting front porch or the private rear deck - ideal for grilling or relaxing. The large garage provides ample space for parking, storage, or hobbies. Conveniently located. .. just minutes from shopping and just a short drive to Pickwick Lake. This adorable home blends comfort, functionality, and location in one perfect package, whether your buying your first home, downsizing, retiring, or looking for an investment! Yours for the new price of $114,900. * * Some virtual staging & virtual painting have been done in a few photos to show the potential this home has to offer. * *

2. 2026-04-07
   status Active 1022-char remark

   Show marketing remark (1022 chars)

   Say hello to this charming 2 bedroom, 1 bath home offering a spacious, open floor plan, and thoughtful features throughout. The kitchen is equipped with stainless steel appliances & a generous walk-in pantry, perfect for storage and organization! The spacious living/dining area is perfect for gatherings, game night, & dinner around your farm house table. Enjoy cozy evenings by the gas fireplace and sunny days on the inviting front porch or the private rear deck - ideal for grilling or relaxing. The large garage provides ample space for parking, storage, or hobbies. Conveniently located. .. just minutes from shopping and just a short drive to Pickwick Lake. This adorable home blends comfort, functionality, and location in one perfect package, whether your buying your first home, downsizing, retiring, or looking for an investment! Yours for the new price of $114,900. * * Some virtual staging & virtual painting have been done in a few photos to show the potential this home has to offer. * *

3. 2026-03-10
   status Pending 1008-char remark

   Show marketing remark (1022 chars)

   Say hello to this charming 2 bedroom, 1 bath home offering a spacious, open floor plan, and thoughtful features throughout. The kitchen is equipped with stainless steel appliances & a generous walk-in pantry, perfect for storage and organization! The spacious living/dining area is perfect for gatherings, game night, & dinner around your farm house table. Enjoy cozy evenings by the gas fireplace and sunny days on the inviting front porch or the private rear deck - ideal for grilling or relaxing. The large garage provides ample space for parking, storage, or hobbies. Conveniently located. .. just minutes from shopping and just a short drive to Pickwick Lake. This adorable home blends comfort, functionality, and location in one perfect package, whether your buying your first home, downsizing, retiring, or looking for an investment! Yours for the new price of $114,900. * * Some virtual staging & virtual painting have been done in a few photos to show the potential this home has to offer. * *

4. 2026-03-10
   status Pending 1022-char remark

   Show marketing remark (1022 chars)

   Say hello to this charming 2 bedroom, 1 bath home offering a spacious, open floor plan, and thoughtful features throughout. The kitchen is equipped with stainless steel appliances & a generous walk-in pantry, perfect for storage and organization! The spacious living/dining area is perfect for gatherings, game night, & dinner around your farm house table. Enjoy cozy evenings by the gas fireplace and sunny days on the inviting front porch or the private rear deck - ideal for grilling or relaxing. The large garage provides ample space for parking, storage, or hobbies. Conveniently located. .. just minutes from shopping and just a short drive to Pickwick Lake. This adorable home blends comfort, functionality, and location in one perfect package, whether your buying your first home, downsizing, retiring, or looking for an investment! Yours for the new price of $114,900. * * Some virtual staging & virtual painting have been done in a few photos to show the potential this home has to offer. * *

5. 2026-01-13
   price $114,900 1022-char remark

   Show marketing remark (1022 chars)

   Say hello to this charming 2 bedroom, 1 bath home offering a spacious, open floor plan, and thoughtful features throughout. The kitchen is equipped with stainless steel appliances & a generous walk-in pantry, perfect for storage and organization! The spacious living/dining area is perfect for gatherings, game night, & dinner around your farm house table. Enjoy cozy evenings by the gas fireplace and sunny days on the inviting front porch or the private rear deck - ideal for grilling or relaxing. The large garage provides ample space for parking, storage, or hobbies. Conveniently located. .. just minutes from shopping and just a short drive to Pickwick Lake. This adorable home blends comfort, functionality, and location in one perfect package, whether your buying your first home, downsizing, retiring, or looking for an investment! Yours for the new price of $114,900. * * Some virtual staging & virtual painting have been done in a few photos to show the potential this home has to offer. * *

6. 2026-01-12
   price $114,900 1008-char remark

   Show marketing remark (1008 chars)

   Say hello to this charming 2 bedroom, 1 bath home offering a spacious, open floor plan, and thoughtful features throughout. The kitchen is equipped with stainless steel appliances & a generous walk-in pantry, perfect for storage and organization! The spacious living/dining area is perfect for gatherings, game night, & dinner around your farm house table. Enjoy cozy evenings by the gas fireplace and sunny days on the inviting front porch or the private rear deck - ideal for grilling or relaxing. The large garage provides ample space for parking, storage, or hobbies. Conveniently located...just minutes from shopping and just a short drive to Pickwick Lake. This adorable home blends comfort, functionality, and location in one perfect package, whether your buying your first home, downsizing, retiring, or looking for an investment! Yours for the new price of $114,900. **Some virtual staging & virtual painting have been done in a few photos to show the potential this home has to offer.**

7. 2025-11-01
   price $119,900 1022-char remark

   Show marketing remark (1022 chars)

   Say hello to this charming 2 bedroom, 1 bath home offering a spacious, open floor plan, and thoughtful features throughout. The kitchen is equipped with stainless steel appliances & a generous walk-in pantry, perfect for storage and organization! The spacious living/dining area is perfect for gatherings, game night, & dinner around your farm house table. Enjoy cozy evenings by the gas fireplace and sunny days on the inviting front porch or the private rear deck - ideal for grilling or relaxing. The large garage provides ample space for parking, storage, or hobbies. Conveniently located. .. just minutes from shopping and just a short drive to Pickwick Lake. This adorable home blends comfort, functionality, and location in one perfect package, whether your buying your first home, downsizing, retiring, or looking for an investment! Yours for the new price of $114,900. * * Some virtual staging & virtual painting have been done in a few photos to show the potential this home has to offer. * *

8. 2025-10-31
   price $119,900 1008-char remark

   Show marketing remark (1008 chars)

   Say hello to this charming 2 bedroom, 1 bath home offering a spacious, open floor plan, and thoughtful features throughout. The kitchen is equipped with stainless steel appliances & a generous walk-in pantry, perfect for storage and organization! The spacious living/dining area is perfect for gatherings, game night, & dinner around your farm house table. Enjoy cozy evenings by the gas fireplace and sunny days on the inviting front porch or the private rear deck - ideal for grilling or relaxing. The large garage provides ample space for parking, storage, or hobbies. Conveniently located...just minutes from shopping and just a short drive to Pickwick Lake. This adorable home blends comfort, functionality, and location in one perfect package, whether your buying your first home, downsizing, retiring, or looking for an investment! Yours for the new price of $114,900. **Some virtual staging & virtual painting have been done in a few photos to show the potential this home has to offer.**

9. 2025-10-17
   listed $125,900 Active 1008-char remark

   Show marketing remark (1008 chars)

   Say hello to this charming 2 bedroom, 1 bath home offering a spacious, open floor plan, and thoughtful features throughout. The kitchen is equipped with stainless steel appliances & a generous walk-in pantry, perfect for storage and organization! The spacious living/dining area is perfect for gatherings, game night, & dinner around your farm house table. Enjoy cozy evenings by the gas fireplace and sunny days on the inviting front porch or the private rear deck - ideal for grilling or relaxing. The large garage provides ample space for parking, storage, or hobbies. Conveniently located...just minutes from shopping and just a short drive to Pickwick Lake. This adorable home blends comfort, functionality, and location in one perfect package, whether your buying your first home, downsizing, retiring, or looking for an investment! Yours for the new price of $114,900. **Some virtual staging & virtual painting have been done in a few photos to show the potential this home has to offer.**

10. 2025-07-24
    listed $125,900 Active 1022-char remark

    Show marketing remark (1022 chars)

    Say hello to this charming 2 bedroom, 1 bath home offering a spacious, open floor plan, and thoughtful features throughout. The kitchen is equipped with stainless steel appliances & a generous walk-in pantry, perfect for storage and organization! The spacious living/dining area is perfect for gatherings, game night, & dinner around your farm house table. Enjoy cozy evenings by the gas fireplace and sunny days on the inviting front porch or the private rear deck - ideal for grilling or relaxing. The large garage provides ample space for parking, storage, or hobbies. Conveniently located. .. just minutes from shopping and just a short drive to Pickwick Lake. This adorable home blends comfort, functionality, and location in one perfect package, whether your buying your first home, downsizing, retiring, or looking for an investment! Yours for the new price of $114,900. * * Some virtual staging & virtual painting have been done in a few photos to show the potential this home has to offer. * *

11. 2025-06-17
    price $125,900
12. 2025-04-23
    price $134,900
13. 2025-03-22
    price $139,900
14. 2022-09-06
    soldstatus $300,000
15. 2022-07-19
    soldstatus $120,000
16. 2022-07-19
    soldstatus $120,000

ⓘ 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: $289 · $24/mo
• Projected year-2 tax: $816 · $68/mo
• Expected delta: +$527/yr (+$44/mo · 182.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,944
• − Mortgage interest: −$6,436
• − Property taxes: −$289
• − Insurance: −$574
• − Repairs & maintenance: −$956
• − Management: −$956
• − Depreciation: −$3,343
• Taxable loss: −$609
• Est. tax savings @ 24.0%: +$146
• After-tax cash flow: $1,488/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: Hardin County
• NCES district ID: 4701680
• Math proficiency: 27% ▼ -1.00%
• Reading proficiency: 28% ▼ -1.00%
• Median HH income: $34,404
• Composite: 22.64/100
• National rank: #8061
• State rank: #76 of 139 in TN

Livability — Olivet

• Score: 61/100
• State rank: #242
• US rank: #17607

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Olivet, TN
• Population (ZIP): 17,659

Population outlook (Hardin County) Hauer SSP2

• Today (2025): 24,740 people
• By 2030: 23,971 · -3.1%
• By 2040: 22,284 · -9.9%
• By 2050: 20,612 · -16.7%
• By 2075: 17,072 · -31.0%
• By 2100: 13,723 · -44.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Black 3% Hispanic / Latino 3%
• Common ancestry: Italian 5% Slovak 2% Danish 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Hardin

• 2024 margin: Solid R (+71.0) · D 14.1% · R 85.1%
• 2008→2024 swing: -28.3pp toward R · 2008: -42.7pp · 2024: -71.0pp
• All cycles: 2024: R+71.0 2020: R+67.5 2016: R+64.2 2012: R+51.6 2008: R+42.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.20%
• Current HPI: 293.51
• 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

-4.2% since first listed

16 events — show timeline

• 2026-04-07 Relisted — REALTRACS as Distributed by MLS Grid
• 2026-04-07 Relisted — Memphis Area Association of Realtors(R) MLS
• 2026-03-10 Pending — REALTRACS as Distributed by MLS Grid
• 2026-03-10 Pending — Memphis Area Association of Realtors(R) MLS
• 2026-01-13 Price Changed $114,900 Memphis Area Association of Realtors(R) MLS
• 2026-01-12 Price Changed $114,900 REALTRACS as Distributed by MLS Grid
• 2025-11-01 Price Changed $119,900 Memphis Area Association of Realtors(R) MLS
• 2025-10-31 Price Changed $119,900 REALTRACS as Distributed by MLS Grid
• 2025-10-17 Listed $125,900 REALTRACS as Distributed by MLS Grid
• 2025-07-24 Listed $125,900 Memphis Area Association of Realtors(R) MLS
• 2025-06-17 Price Changed $125,900 Memphis Area Association of Realtors(R) MLS
• 2025-04-23 Price Changed $134,900 Memphis Area Association of Realtors(R) MLS
• 2025-03-22 Price Changed $139,900 Memphis Area Association of Realtors(R) MLS
• 2022-09-06 Sold (Public Records) $300,000 Public Records
• 2022-07-19 Sold (Public Records) $120,000 Public Records
• 2022-07-19 Sold (MLS) $120,000 REALTRACS as Distributed by MLS Grid

Property tax history

+6.5%/yr

Latest (2025): $289 · +0.0% YoY. Source: county tax records.