500 Cheyenne Blvd #94 · Nashville-Davidson metropolitan government (balance), TN 37115

$97,995

3 bd · 2.0 ba · 1,493 sqft · Manufactured · 157 Days on market

Built 2026 $700/mo HOA · 37% 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).

• Cash flow +20.1/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

ust Listed! Lot 94 - Old Hickory Pointe 2026 Champion Prime Apex - 3 Bed, 2 Bath * Exterior home photo is representation, not actual home This brand new double width Apex model features a spacious 28×56' layout with an open living area, modern kitchen, and three comfortable bedrooms. The bright interior, clean finishes, and efficient floor plan make this home ideal for comfortable everyday living in a peaceful community setting. Community amenities include quiet streets, convenient access to shopping, and essential services in Madison, TN.

Key facts

• Open living area
• Modern kitchen
• Quiet streets

Tags

• DOUBLE WIDTH APEX MODEL
• SPACIOUS LAYOUT
• OPEN LIVING AREA
• MODERN KITCHEN
• PEACEFUL COMMUNITY SETTING
• QUIET STREETS

Property features AI

Finance

• Other: Listing status: Active; List price: 97,995
• HOA & community: Association fee approximately 700

Exterior

• Home design: Apex (Old Hickory) plan
• Construction: Built/last listed in 2026
• Exterior features: Living area approximately 1,493

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Spec home (new construction inventory type)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $98k.

Deal economics

• At list price, monthly cash flow is $122 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Recommended offer: $86k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 2.9% in Nashville-Davidson metropolitan government (balance) — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Davidson County (urban): math 12% / reading 19% proficiency, ranked #126 of 139 in TN (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-0.9%/yr); 330 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 6,873 units permitted in Davidson County in 2024 (4,138 in 5+ unit buildings).
• This rent runs 42% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $677 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Davidson County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($86k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 37% of rent.

Recommended offer $86,235 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 1.94% ✓
• Cap rate: 7.79%
• Cash-on-cash: 5.35%
• DSCR: 1.24
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $273,219
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Bennett Dr	0.65mi	3/2.0	1,539 (+3%)	2mo	$282,000	$183	63

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -14.2%
• Equity multiple: 0.52×
• Total profit: $-13,199
• Equity at exit: $14,611

10-year hold

• IRR: -20.1%
• Equity multiple: 0.23×
• Total profit: $-21,102
• Equity at exit: $8,473

Cash invested: $27,439 (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 37115

• Rents YoY: -0.9%
• Active inventory: 330
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,898 high
• Mortgage (P&I): −$514
• Tax est. 1.5%: −$122 /mo · $1,470/yr
• Insurance: −$41
• HOA: −$700
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $122

Break-even live

Break-even rent $1,743

Max offer price $97,995

Occupancy floor 89%

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: $24,499
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1040 N DuPont Ave Madison, TN	1.0–3.0	1.0–3.0	944	$1,350	$1.43	23d	1	0.61mi
110 Archwood Pl Madison, TN	1.0–2.0	1.0–1.5	915	$1,200	$1.31	2d	6	0.69mi
968 Juniper Ln Madison, TN	4.0	2.5	1860	$2,670	$1.44	23d	1	0.69mi
333 Rio Vista Dr Madison, TN	2.0–3.0	1.0	899	$1,782	$1.98	23d	9	0.81mi
2151 Bayport Ave Old Hickory, TN	3.0	3.0	1452	$2,000	$1.38	2d	1	0.81mi
221 Rayon Dr Old Hickory, TN	2.0	2.0	1429	$1,695	$1.19	23d	1	0.85mi
2343 Patrick Ave Old Hickory, TN	2.0	2.5	1300	$1,798	$1.38	4d	1	0.86mi
2343 Patrick Ave Old Hickory, TN	2.0	2.5	1300	$1,798	$1.38	11d	1	0.86mi
2120 Candlebrook Ct Madison, TN	3.0	2.0	1179	$1,895	$1.61	4d	1	0.87mi
2600 Eleuthere Ave Old Hickory, TN	2.0	2.5	1123	$1,856	$1.65	20d	1	0.99mi
218B Myatt Dr Madison, TN	3.0	3.5	1614	$2,500	$1.55	23d	1	1.05mi
208 Jenna Lee Cir Madison, TN	2.0	2.5	1156	$1,975	$1.71	23d	1	1.08mi
1102 Fowler St Old Hickory, TN	3.0	1.5	1020	$1,395	$1.37	20d	1	1.13mi
343 Archwood Dr Madison, TN	3.0	2.0	1162	$2,000	$1.72	23d	1	1.13mi
345 Archwood Dr Madison, TN	3.0	2.0	1162	$2,000	$1.72	23d	1	1.13mi
720 Carmel Ave Madison, TN	3.0	2.0	1424	$2,100	$1.47	23d	1	1.18mi
1301 Neelys Bend Rd Madison, TN	2.0	1.5	1280	$1,525	$1.19	3d	1	1.18mi
1301 Neelys Bend Rd Unit A2 Madison, TN	2.0	1.5	1104	$1,225	$1.11	23d	1	1.18mi
607 Brentmeadow Cir Madison, TN	2.0	2.0	956	$940	$0.98	14d	1	1.25mi
215A Nix Dr Madison, TN	2.0	1.5	1003	$1,395	$1.39	23d	1	1.27mi
1408 Bryan St Old Hickory, TN	3.0	1.0	1000	$1,500	$1.50	23d	1	1.36mi
1502 Bryan St Old Hickory, TN	3.0	1.5	1000	$2,100	$2.10	3d	1	1.36mi
1500 Bryan St Unit 1502 Old Hickory, TN	3.0	2.0	1100	$2,100	$1.91	3d	1	1.36mi
1500 Bryan St Old Hickory, TN	3.0	1.5	1000	$2,100	$2.10	3d	1	1.36mi
911 Bryan St Old Hickory, TN	3.0	1.0	1030	$1,495	$1.45	23d	1	1.37mi
909 Bryan St Old Hickory, TN	3.0	1.0	1025	$1,495	$1.46	23d	1	1.37mi
1104 Elliston St Old Hickory, TN	3.0	1.0	1200	$1,245	$1.04	16d	1	1.40mi
1012 Debow St Unit B Old Hickory, TN	3.0	2.5	1064	$1,850	$1.74	12d	1	1.44mi
1229 Berwick Trl Madison, TN	3.0	2.0	1803	$2,800	$1.55	4d	1	1.44mi
1229 Berwick Trl Madison, TN	3.0	2.0	1803	$2,850	$1.58	16d	1	1.44mi
1229 Berwick Trl Madison, TN	3.0	2.0	1803	$2,850	$1.58	23d	1	1.44mi
911 Debow St Old Hickory, TN	3.0	1.0	1000	$1,550	$1.55	23d	1	1.47mi

HOA detail

• Monthly dues: $700 · $8,400/yr

Listing history 14 events

1. 2026-06-18
   days on market $97,995 Active 157 DOM
2. 2026-06-17
   days on market $97,995 Active 156 DOM
3. 2026-06-16
   days on market $97,995 Active 155 DOM
4. 2026-06-15
   days on market $97,995 Active 154 DOM
5. 2026-06-13
   days on market $97,995 Active 152 DOM
6. 2026-06-13
   days on market $97,995 Active 151 DOM
7. 2026-06-09
   days on market $97,995 Active 148 DOM
8. 2026-06-08
   days on market $97,995 Active 147 DOM
9. 2026-06-07
   days on market $97,995 Active 146 DOM
10. 2026-06-05
    days on market $97,995 Active 143 DOM
11. 2026-06-03
    days on market $97,995 Active 142 DOM
12. 2026-06-02
    days on market $97,995 Active 141 DOM
13. 2026-06-01
    days on market $97,995 Active 140 DOM
14. 2026-05-31
    days on market $97,995 Active 139 DOM

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

Taxation est. · year 1

• Rental income: $22,776
• − Mortgage interest: −$5,489
• − Property taxes: −$1,470
• − Insurance: −$490
• − Repairs & maintenance: −$1,822
• − Management: −$1,822
• − HOA: −$8,400
• − Depreciation: −$2,851
• Taxable income: $432
• Est. tax owed @ 24.0%: −$104
• After-tax cash flow: $1,363/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: Davidson County
• NCES district ID: 4703180
• Math proficiency: 12% ▼ -17.00%
• Reading proficiency: 19% ▼ -7.00%
• Median HH income: $48,667
• Composite: 14.03/100
• National rank: #9472
• State rank: #126 of 139 in TN

Livability — Nashville-Davidson metropolitan government (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Nashville-Davidson metropolitan government (balance), TN
• County: Davidson County · 680,067 people
• City population: 677,595
• Metro: Nashville-Davidson--Murfreesboro--Franklin, TN
• Population (ZIP): 40,615
• Household income: $54,566
• Rent vs Own: 56.7% rent · 43.3% own
• Severe rent burden: 2759.0

Population outlook (Davidson County) Hauer SSP2

• Today (2025): 808,568 people
• By 2030: 874,489 · +8.2%
• By 2040: 1,009,046 · +24.8%
• By 2050: 1,147,294 · +41.9%
• By 2075: 1,475,439 · +82.5%
• By 2100: 1,714,101 · +112.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 37% Black 32% Hispanic / Latino 26% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 13% Cuban 2%
• Common ancestry: Serbian 1% Italian 1% Iranian 1%
• Foreign-born: 18% · Canada
• Languages at home: 74% English-only · Spanish 22% Tagalog/Filipino 1% Other Indo-European 1%

Political lean MEDSL · Davidson

• 2024 margin: Strong D (+27.4) · D 62.7% · R 35.3% · Other 2.0%
• 2008→2024 swing: +6.5pp toward D · 2008: 21.0pp · 2024: 27.4pp
• All cycles: 2024: D+27.4 2020: D+32.1 2016: D+26.0 2012: D+18.7 2008: D+21.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -259.74%
• Current HPI: 341.9614
• Rent YoY: ▼ -0.94%
• Metro: Nashville-Davidson--Murfreesboro--Franklin, TN
• 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