224 Sharp Rd · Decatur, TN 37322

$225,000

3 bd · 2.0 ba · 1,536 sqft · Manufactured public records · 42 Days on market

Built 1998 0.47 ac lot $146/sqft · 21% above area Est $187k · 21% over

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Cash flow +5.2/30.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• 1% rule +0.9/10.0
• DSCR +0.0/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Welcome to Your Dream Home at 224 Sharp Rd, Decatur, TN! Nestled on a spacious 0.47-acre lot, this charming 3-bedroom, 2-bathroom home offers a perfect blend of comfort and style in a serene rural setting. As you approach the property, you're greeted by a large inviting back porch, perfect for relaxing with family or entertaining friends. Step inside to discover a bright living room featuring large windows that overlook the landscaped front yard, allowing natural light to fill the space. The home boasts a semi-open concept layout, seamlessly connecting the cozy living area to the kitchen. The kitchen is a chef's delight with its white cabinets, trendy fixtures, and a convenient sitting eat-in bar. Adjacent to the kitchen, the dining room creates a welcoming atmosphere for family meals and gatherings. The primary suite is a peaceful retreat, complete with an en-suite bathroom that features a dual vanity and a spacious walk-in shower. Two additional guest bedrooms provide ample space for family and visitors, complemented by a guest bath. Outside, the property includes a useful outbuilding, offering additional storage or workspace tailored to your needs. Enjoy the tranquility of rural living while still being close to local amenities. Don't miss this opportunity to make 224 Sharp Rd your forever home! Schedule a showing today and experience all that this lovely property has to offer.

Key facts

• 0.47 acre lot
• Built 1998
• Listed 42 days

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water available; Septic tank; Water service available
• Home design: Residential property; Three or more levels
• Construction: Vinyl siding; Metal roof; Other foundation; Existing construction
• Exterior features: Covered porch; Level lot

Interior

• Kitchen: Electric range; Refrigerator; Microwave
• Bedrooms: 3 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Interior features: Ceiling fan(s)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $225k.

Deal economics

• At list price, monthly cash flow is $-507 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $152k (32.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (41.0% below list).
• Recommended offer: $133k (41.0% below list) — sets the bar for 1% rule.
• Cap rate 3.6% vs local median 1.8% in Decatur — 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 61/100 on livability (#240 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, schools F.
• Meigs County (rural): math 16% / reading 22% proficiency, ranked #122 of 139 in TN (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 240 active listings in the ZIP; 94 units permitted in Meigs County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Meigs County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 21y ago; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $63k; list at $225k implies a 257% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,650 (41.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.59% ✗
• Cap rate: 3.59%
• Cash-on-cash: -9.66%
• DSCR: 0.57
• GRM: 14.1

CMA / ARV

• ARV (median comp): $186,648
• List price: $225,000
• Delta: 20.55%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 17.5%
• Equity multiple: 2.43×
• Total profit: $90,271
• Equity at exit: $202,698

10-year hold

• IRR: 16.5%
• Equity multiple: 5.62×
• Total profit: $291,265
• Equity at exit: $437,126

Cash invested: $63,000 (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 37322

• Home prices YoY: 29.4%
• Active inventory: 240
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $1,326 medium
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $-507

Break-even live

Break-even rent $1,968

Max offer price $151,638

Occupancy floor —

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-09
   statusdays on market $225,000 Pending 42 DOM

   Show marketing remark (1404 chars)

   Welcome to Your Dream Home at 224 Sharp Rd, Decatur, TN! Nestled on a spacious 0.47-acre lot, this charming 3-bedroom, 2-bathroom home offers a perfect blend of comfort and style in a serene rural setting. As you approach the property, you're greeted by a large inviting back porch, perfect for relaxing with family or entertaining friends. Step inside to discover a bright living room featuring large windows that overlook the landscaped front yard, allowing natural light to fill the space. The home boasts a semi-open concept layout, seamlessly connecting the cozy living area to the kitchen. The kitchen is a chef's delight with its white cabinets, trendy fixtures, and a convenient sitting eat-in bar. Adjacent to the kitchen, the dining room creates a welcoming atmosphere for family meals and gatherings. The primary suite is a peaceful retreat, complete with an en-suite bathroom that features a dual vanity and a spacious walk-in shower. Two additional guest bedrooms provide ample space for family and visitors, complemented by a guest bath. Outside, the property includes a useful outbuilding, offering additional storage or workspace tailored to your needs. Enjoy the tranquility of rural living while still being close to local amenities. Don't miss this opportunity to make 224 Sharp Rd your forever home! Schedule a showing today and experience all that this lovely property has to offer.

2. 2026-06-08
   days on market $225,000 Active 41 DOM
3. 2026-06-07
   days on market $225,000 Active 40 DOM
4. 2026-06-07
   days on market $225,000 Active 39 DOM
5. 2026-06-03
   days on market $225,000 Active 36 DOM
6. 2026-06-02
   days on market $225,000 Active 35 DOM
7. 2026-06-01
   price $225,000 Active 34 DOM

   Show marketing remark (1403 chars)

   Welcome to Your Dream Home at 224 Sharp Rd, Decatur, TN! Nestled on a spacious 0.47-acre lot, this charming 3-bedroom, 2-bathroom home offers a perfect blend of comfort and style in a serene rural setting. As you approach the property, you're greeted by a large inviting back porch, perfect for relaxing with family or entertaining friends. Step inside to discover a bright living room featuring large windows that overlook the landscaped front yard, allowing natural light to fill the space. The home boasts a semi-open concept layout, seamlessly connecting the cozy living area to the kitchen. The kitchen is a chef's delight with its white cabinets, trendy fixtures, and a convenient sitting eat-in bar. Adjacent to the kitchen, the dining room creates a welcoming atmosphere for family meals and gatherings. The primary suite is a peaceful retreat, complete with an en-suite bathroom that features a dual vanity and a spacious walk-in shower. Two additional guest bedrooms provide ample space for family and visitors, complemented by a guest bath. Outside, the property includes a useful outbuilding, offering additional storage or workspace tailored to your needs. Enjoy the tranquility of rural living while still being close to local amenities. Don't miss this opportunity to make 224 Sharp Rd your forever home! Schedule a showing today and experience all that this lovely property has to offer.

8. 2026-06-01
   days on market $249,900 Active 34 DOM

   Show marketing remark (1403 chars)

   Welcome to Your Dream Home at 224 Sharp Rd, Decatur, TN! Nestled on a spacious 0.47-acre lot, this charming 3-bedroom, 2-bathroom home offers a perfect blend of comfort and style in a serene rural setting. As you approach the property, you're greeted by a large inviting back porch, perfect for relaxing with family or entertaining friends. Step inside to discover a bright living room featuring large windows that overlook the landscaped front yard, allowing natural light to fill the space. The home boasts a semi-open concept layout, seamlessly connecting the cozy living area to the kitchen. The kitchen is a chef's delight with its white cabinets, trendy fixtures, and a convenient sitting eat-in bar. Adjacent to the kitchen, the dining room creates a welcoming atmosphere for family meals and gatherings. The primary suite is a peaceful retreat, complete with an en-suite bathroom that features a dual vanity and a spacious walk-in shower. Two additional guest bedrooms provide ample space for family and visitors, complemented by a guest bath. Outside, the property includes a useful outbuilding, offering additional storage or workspace tailored to your needs. Enjoy the tranquility of rural living while still being close to local amenities. Don't miss this opportunity to make 224 Sharp Rd your forever home! Schedule a showing today and experience all that this lovely property has to offer.

9. 2026-05-31
   days on market $249,900 Active 33 DOM
10. 2026-05-30
    days on market $249,900 Active 32 DOM
11. 2026-04-28
    listed $249,900 Active 1405-char remark

    Show marketing remark (1404 chars)

    Welcome to Your Dream Home at 224 Sharp Rd, Decatur, TN! Nestled on a spacious 0.47-acre lot, this charming 3-bedroom, 2-bathroom home offers a perfect blend of comfort and style in a serene rural setting. As you approach the property, you're greeted by a large inviting back porch, perfect for relaxing with family or entertaining friends. Step inside to discover a bright living room featuring large windows that overlook the landscaped front yard, allowing natural light to fill the space. The home boasts a semi-open concept layout, seamlessly connecting the cozy living area to the kitchen. The kitchen is a chef's delight with its white cabinets, trendy fixtures, and a convenient sitting eat-in bar. Adjacent to the kitchen, the dining room creates a welcoming atmosphere for family meals and gatherings. The primary suite is a peaceful retreat, complete with an en-suite bathroom that features a dual vanity and a spacious walk-in shower. Two additional guest bedrooms provide ample space for family and visitors, complemented by a guest bath. Outside, the property includes a useful outbuilding, offering additional storage or workspace tailored to your needs. Enjoy the tranquility of rural living while still being close to local amenities. Don't miss this opportunity to make 224 Sharp Rd your forever home! Schedule a showing today and experience all that this lovely property has to offer.

12. 2026-04-28
    listed $249,900 Active 1404-char remark

    Show marketing remark (1404 chars)

    Welcome to Your Dream Home at 224 Sharp Rd, Decatur, TN! Nestled on a spacious 0.47-acre lot, this charming 3-bedroom, 2-bathroom home offers a perfect blend of comfort and style in a serene rural setting. As you approach the property, you're greeted by a large inviting back porch, perfect for relaxing with family or entertaining friends. Step inside to discover a bright living room featuring large windows that overlook the landscaped front yard, allowing natural light to fill the space. The home boasts a semi-open concept layout, seamlessly connecting the cozy living area to the kitchen. The kitchen is a chef's delight with its white cabinets, trendy fixtures, and a convenient sitting eat-in bar. Adjacent to the kitchen, the dining room creates a welcoming atmosphere for family meals and gatherings. The primary suite is a peaceful retreat, complete with an en-suite bathroom that features a dual vanity and a spacious walk-in shower. Two additional guest bedrooms provide ample space for family and visitors, complemented by a guest bath. Outside, the property includes a useful outbuilding, offering additional storage or workspace tailored to your needs. Enjoy the tranquility of rural living while still being close to local amenities. Don't miss this opportunity to make 224 Sharp Rd your forever home! Schedule a showing today and experience all that this lovely property has to offer.

13. 2026-04-28
    listed $249,900 Active

    Show marketing remark (1404 chars)

    Welcome to Your Dream Home at 224 Sharp Rd, Decatur, TN! Nestled on a spacious 0.47-acre lot, this charming 3-bedroom, 2-bathroom home offers a perfect blend of comfort and style in a serene rural setting. As you approach the property, you're greeted by a large inviting back porch, perfect for relaxing with family or entertaining friends. Step inside to discover a bright living room featuring large windows that overlook the landscaped front yard, allowing natural light to fill the space. The home boasts a semi-open concept layout, seamlessly connecting the cozy living area to the kitchen. The kitchen is a chef's delight with its white cabinets, trendy fixtures, and a convenient sitting eat-in bar. Adjacent to the kitchen, the dining room creates a welcoming atmosphere for family meals and gatherings. The primary suite is a peaceful retreat, complete with an en-suite bathroom that features a dual vanity and a spacious walk-in shower. Two additional guest bedrooms provide ample space for family and visitors, complemented by a guest bath. Outside, the property includes a useful outbuilding, offering additional storage or workspace tailored to your needs. Enjoy the tranquility of rural living while still being close to local amenities. Don't miss this opportunity to make 224 Sharp Rd your forever home! Schedule a showing today and experience all that this lovely property has to offer.

14. 2025-07-07
    soldstatus $63,000
15. 2025-02-21
    historical
16. 2024-09-20
    price $175,000
17. 2024-09-20
    price $175,000
18. 2024-08-21
    listed $199,900 Active
19. 2024-08-21
    listed $199,900 Active
20. 2014-01-27
    listed $45,900
21. 2005-09-07
    listed $31,900
22. 1998-12-10
    soldstatus $59,500

ⓘ 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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 21 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,918
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,273
• − Management: −$1,273
• − Depreciation: −$6,545
• Taxable loss: −$10,278
• Est. tax savings @ 24.0%: +$2,467
• After-tax cash flow: $-3,617/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: Meigs County
• NCES district ID: 4702910
• Math proficiency: 16% ▼ -18.00%
• Reading proficiency: 22% ▼ -10.00%
• Median HH income: $36,129
• Composite: 15.74/100
• National rank: #9278
• State rank: #122 of 139 in TN

Livability — Decatur

• Score: 61/100
• State rank: #240
• US rank: #17516

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,509

Population outlook (Meigs County) Hauer SSP2

• Today (2025): 11,953 people
• By 2030: 11,878 · -0.6%
• By 2040: 11,514 · -3.7%
• By 2050: 10,946 · -8.4%
• By 2075: 9,639 · -19.4%
• By 2100: 8,171 · -31.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 4%
• Common ancestry: Lithuanian 3% Iranian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · French/Haitian/Cajun 1% Spanish 1%

Political lean MEDSL · Meigs

• 2024 margin: Solid R (+67.5) · D 15.9% · R 83.4%
• 2008→2024 swing: -33.9pp toward R · 2008: -33.6pp · 2024: -67.5pp
• All cycles: 2024: R+67.5 2020: R+62.5 2016: R+57.5 2012: R+39.5 2008: R+33.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 93.26%
• Current HPI: 410.6623
• 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

+278.2% since first listed

18 events — show timeline

• 2026-06-12 Pending — GCAR
• 2026-06-09 Pending — REALTRACS as Distributed by MLS Grid
• 2026-06-09 Pending — RCAOR
• 2026-06-01 Price Changed $225,000 REALTRACS as Distributed by MLS Grid
• 2026-06-01 Price Changed $225,000 RCAOR
• 2026-06-01 Price Changed $225,000 GCAR
• 2026-04-28 Listed $249,900 REALTRACS as Distributed by MLS Grid
• 2026-04-28 Listed $249,900 RCAOR
• 2026-04-28 Listed $249,900 GCAR
• 2025-07-07 Sold (Public Records) $63,000 Public Records
• 2025-02-21 Listing Removed — Knoxville MLS
• 2024-09-20 Price Changed $175,000 RCAOR
• 2024-09-20 Price Changed $175,000 Knoxville MLS
• 2024-08-21 Listed $199,900 Knoxville MLS
• 2024-08-21 Listed $199,900 RCAOR
• 2014-01-27 Listed $45,900 RCAOR
• 2005-09-07 Listed $31,900 RCAOR
• 1998-12-10 Sold (Public Records) $59,500 Public Records

Property tax history

+2.0%/yr

Latest (2025): $219 · +82.5% YoY. Source: county tax records.