1514 Aurora Ave SE · Cleveland, TN 37311

$329,000

16 bd · 3.5 ba · 2,108 sqft · MultiFamily public records · 67 Days on market

Built 1978 0.37 ac lot

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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 +29.7/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

This renovated quadplex offers four 1-bedroom, 1-bathroom units, each thoughtfully updated for modern living. Recent improvements include a brand-new roof, new mini-split systems for efficient heating and cooling, updated cabinets, and washer/dryer hookups in every unit—an attractive feature for tenants seeking convenience. With strong rental potential and low-maintenance upgrades already in place, this property is ideal for investors looking for a turnkey opportunity.

Key facts

• Renovated quadplex
• Updated cabinets
• Brand new roof

Tags

• RENOVATED QUADPLEX
• BRAND NEW ROOF
• NEW MINI SPLIT SYSTEMS
• UPDATED CABINETS
• WASHER DRYER HOOKUPS
• STRONG RENTAL POTENTIAL

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Residential income property (quadruplex); One story; Updated/remodeled
• Construction: Block construction; Slab foundation; Shingle roof; Built as a quadruplex
• Exterior features: Rain gutters; Level lot; City street frontage

Interior

• Kitchen: Refrigerator; Microwave; Electric range; Electric water heater
• Flooring: Vinyl
• Bathrooms: 4 full bathrooms
• Heating & cooling: Ductless heating; Ductless cooling
• Interior features: Open floorplan
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $329k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $299/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $329k).
• Recommended offer: $309k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 3.5% in Cleveland — 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 70/100 on livability (#55 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment D, crime F, amenities F.
• Cleveland (urban): math 23% / reading 28% proficiency, ranked #85 of 139 in TN (top 61%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Blythe-Bower Elementary (math 16% / reading 20%, grade F, #697 of 952 statewide, top 74%, 636 students, 0% FRL); Cleveland Middle (math 25% / reading 26%, grade F, #147 of 333 statewide, top 45%, 1,271 students, 0% FRL); Cleveland High (math 8% / reading 29%, grade F, #208 of 332 statewide, top 63%, 1,842 students, 0% FRL) — zoned schools average 0% FRL vs 53% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.0%/yr); 196 active listings in the ZIP; 768 units permitted in Bradley County in 2024 (0 in 5+ unit buildings).
• At $4,072/mo this rent would consume 104% of the median local household income ($47k/yr) (locally 1184% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Bradley County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $92k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($309k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $170k; list at $329k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $309,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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.
10. 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.
11. 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: 1.24% ✓
• Cap rate: 10.65%
• Cash-on-cash: 15.56%
• DSCR: 1.69
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.95% rent growth · sell at horizon

5-year hold

• IRR: 6.3%
• Equity multiple: 1.24×
• Total profit: $22,452
• Equity at exit: $49,055

10-year hold

• IRR: 15.6%
• Equity multiple: 2.26×
• Total profit: $116,276
• Equity at exit: $28,446

Cash invested: $92,120 (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 37311

• Home prices YoY: -25.4%
• Rents YoY: 3.0%
• Active inventory: 196
• Price-to-rent: 26.9×

Monthly cashflow live

• Estimated rent: $4,072 medium
• Mortgage (P&I): −$1,725
• Tax from tax record: −$160 /mo · $1,923/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$855
• Net cashflow: $1,194

Break-even live

Break-even rent $2,560

Max offer price $329,000

Occupancy floor 66%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$4,072
Total (4 units)			$4,072

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: $82,250
• Closing costs: $9,870
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $329,000 Active 67 DOM
2. 2026-06-18
   days on market $329,000 Active 66 DOM
3. 2026-06-17
   days on market $329,000 Active 65 DOM
4. 2026-06-16
   days on market $329,000 Active 64 DOM
5. 2026-06-15
   days on market $329,000 Active 63 DOM
6. 2026-06-14
   days on market $329,000 Active 61 DOM
7. 2026-06-13
   days on market $329,000 Active 60 DOM
8. 2026-06-10
   days on market $329,000 Active 58 DOM
9. 2026-06-09
   days on market $329,000 Active 57 DOM
10. 2026-06-08
    days on market $329,000 Active 56 DOM
11. 2026-06-07
    days on market $329,000 Active 55 DOM
12. 2026-06-05
    days on market $329,000 Active 52 DOM
13. 2026-06-03
    days on market $329,000 Active 51 DOM
14. 2026-06-02
    days on market $329,000 Active 50 DOM
15. 2026-06-01
    days on market $329,000 Active 49 DOM
16. 2026-05-31
    days on market $329,000 Active 48 DOM
17. 2026-05-30
    days on market $329,000 Active 47 DOM
18. 2026-04-13
    listed $329,000 Active 479-char remark

    Show marketing remark (479 chars)

    This renovated quadplex offers four 1-bedroom, 1-bathroom units, each thoughtfully updated for modern living. Recent improvements include a brand-new roof, new mini-split systems for efficient heating and cooling, updated cabinets, and washer/dryer hookups in every unit—an attractive feature for tenants seeking convenience. With strong rental potential and low-maintenance upgrades already in place, this property is ideal for investors looking for a turnkey opportunity.

19. 2026-04-13
    listed $329,000 Active

    Show marketing remark (479 chars)

    This renovated quadplex offers four 1-bedroom, 1-bathroom units, each thoughtfully updated for modern living. Recent improvements include a brand-new roof, new mini-split systems for efficient heating and cooling, updated cabinets, and washer/dryer hookups in every unit—an attractive feature for tenants seeking convenience. With strong rental potential and low-maintenance upgrades already in place, this property is ideal for investors looking for a turnkey opportunity.

20. 2025-08-27
    listed $329,000 Active
21. 2023-04-01
    soldstatus $170,000
22. 2023-04-01
    soldstatus $170,000
23. 1993-04-06
    soldstatus $30,000

ⓘ 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: $1,923 · $160/mo
• Projected year-2 tax: $2,336 · $195/mo
• Expected delta: +$413/yr (+$34/mo · 21.5%)

ⓘ 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) · 67% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $48,864
• − Mortgage interest: −$18,429
• − Property taxes: −$1,923
• − Insurance: −$1,645
• − Repairs & maintenance: −$3,909
• − Management: −$3,909
• − Depreciation: −$9,571
• Taxable income: $9,478
• Est. tax owed @ 24.0%: −$2,275
• After-tax cash flow: $12,056/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: Cleveland
• NCES district ID: 4700690
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 28% ▼ -6.00%
• Median HH income: $37,612
• Composite: 21.28/100
• National rank: #8394
• State rank: #85 of 139 in TN

Livability — Cleveland

• Score: 70/100
• State rank: #55
• US rank: #7689

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cleveland, TN
• County: Bradley County · 99,337 people
• City population: 99,337
• Metro: Cleveland, TN
• Population (ZIP): 30,720
• Household income: $47,153
• Rent vs Own: 53.4% rent · 46.6% own
• Severe rent burden: 1184.0

Population outlook (Bradley County) Hauer SSP2

• Today (2025): 114,901 people
• By 2030: 120,137 · +4.6%
• By 2040: 130,125 · +13.2%
• By 2050: 139,257 · +21.2%
• By 2075: 161,664 · +40.7%
• By 2100: 179,767 · +56.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 12% Black 9% Two or more races 6%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Slovak 3% Serbian 2% Italian 1%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 9% Russian/Polish/Slavic 1%

Political lean MEDSL · Bradley

• 2024 margin: Solid R (+58.9) · D 20.0% · R 78.9% · Other 1.1%
• 2008→2024 swing: -9.2pp toward R · 2008: -49.7pp · 2024: -58.9pp
• All cycles: 2024: R+58.9 2020: R+55.3 2016: R+59.1 2012: R+53.9 2008: R+49.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.10%
• Current HPI: 285.0723
• Rent YoY: ▲ 2.95%
• Metro: Cleveland, 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

Price history

+996.7% since first listed

6 events — show timeline

• 2026-04-13 Listed $329,000 RCAOR
• 2026-04-13 Listed $329,000 GCAR
• 2025-08-27 Listed $329,000 RCAOR
• 2023-04-01 Sold (MLS) $170,000 REALTRACS as Distributed by MLS Grid
• 2023-04-01 Sold (MLS) $170,000 GCAR
• 1993-04-06 Sold (Public Records) $30,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $1,923 · +154.4% YoY. Source: county tax records.