116 Hines Blvd · Bolivar, TN 38008-1154

$359,000

8 bd · 7.0 ba · 3,456 sqft · MultiFamily public records · 125 Days on market

Built 2007

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Why this score? — see what drove the D+ 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 +16.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• Appreciation +5.0/10.0
• 1% rule +3.6/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Exceptional investment opportunity in * Bolivar * ! With exciting future developments planned for the area-including a new sports complex and hospital-alongside the vibrant and historic downtown square, this property is ideally positioned for long term growth and appreciation. This well-maintained fourplex features four spacious units, each offering 2 bedrooms, 1 bath, a comfortable living room, kitchen, dining area, generously sized bathroom, and ample closet space throughout. All units are currently fully occupied. 3 for $900 per month on month-to-month leases, 1 unit renting at $850 per month with lease ending in Oct. Generating a total of $3,550 per month in rental income. A rare opportunity to acquire a quality, income-producing property in a growing community. * * PLEASE DO NOT DISTURB TENANTS * *

Key facts

• Sports complex
• Healthcare hospital
• Fully occupied

Tags

• SPORTS COMPLEX
• HEALTHCARE HOSPITAL
• HISTORIC DOWNTOWN SQUARE
• WELL MAINTAINED FOURPLEX
• FULLY OCCUPIED

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $359k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive. Per door: $53/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $310k (13.6% below list).
• Recommended offer: $310k (13.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 52/100 on livability (#397 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: health & safety C-, schools F, crime F.
• Hardeman County Schools (rural): math 11% / reading 16% proficiency, ranked #133 of 139 in TN (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 1 active listings in the ZIP; 43 units permitted in Hardeman County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($2k loan paydown + $11k appreciation (3.0% local appreciation)).
• Hardeman County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $101k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($316k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y ago; this cycle's ask has dropped $50k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $310,000 (13.6% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 14% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 0.86% ✗
• Cap rate: 7.01%
• Cash-on-cash: 2.55%
• DSCR: 1.11
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 9.9%
• Equity multiple: 1.56×
• Total profit: $56,753
• Equity at exit: $161,422

10-year hold

• IRR: 12.2%
• Equity multiple: 2.82×
• Total profit: $182,874
• Equity at exit: $248,770

Cash invested: $100,520 (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 38008-1154

• Active inventory: 1
• Price-to-rent: 38.6×

Monthly cashflow live

• Estimated rent: $3,100 medium
• Mortgage (P&I): −$1,883
• Tax from tax record: −$203 /mo · $2,437/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$651
• Net cashflow: $214

Break-even live

Break-even rent $2,829

Max offer price $359,000

Occupancy floor 88%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,100
Total (4 units)			$3,100

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $359,000 Active 125 DOM
2. 2026-06-17
   days on market $359,000 Active 124 DOM
3. 2026-06-16
   days on market $359,000 Active 123 DOM
4. 2026-06-15
   days on market $359,000 Active 122 DOM
5. 2026-06-13
   days on market $359,000 Active 120 DOM
6. 2026-06-12
   days on market $359,000 Active 119 DOM
7. 2026-06-09
   days on market $359,000 Active 116 DOM
8. 2026-06-08
   days on market $359,000 Active 115 DOM
9. 2026-06-08
   days on market $359,000 Active 114 DOM
10. 2026-06-03
    days on market $359,000 Active 110 DOM
11. 2026-06-02
    days on market $359,000 Active 109 DOM
12. 2026-06-01
    days on market $359,000 Active 108 DOM
13. 2026-05-31
    days on market $359,000 Active 107 DOM
14. 2026-04-15
    price $369,000 818-char remark

    Show marketing remark (818 chars)

    Exceptional investment opportunity in * Bolivar * ! With exciting future developments planned for the area-including a new sports complex and hospital-alongside the vibrant and historic downtown square, this property is ideally positioned for long term growth and appreciation. This well-maintained fourplex features four spacious units, each offering 2 bedrooms, 1 bath, a comfortable living room, kitchen, dining area, generously sized bathroom, and ample closet space throughout. All units are currently fully occupied. 3 for $900 per month on month-to-month leases, 1 unit renting at $850 per month with lease ending in Oct. Generating a total of $3,550 per month in rental income. A rare opportunity to acquire a quality, income-producing property in a growing community. * * PLEASE DO NOT DISTURB TENANTS * *

15. 2026-03-22
    price $379,000 818-char remark

    Show marketing remark (818 chars)

    Exceptional investment opportunity in * Bolivar * ! With exciting future developments planned for the area-including a new sports complex and hospital-alongside the vibrant and historic downtown square, this property is ideally positioned for long term growth and appreciation. This well-maintained fourplex features four spacious units, each offering 2 bedrooms, 1 bath, a comfortable living room, kitchen, dining area, generously sized bathroom, and ample closet space throughout. All units are currently fully occupied. 3 for $900 per month on month-to-month leases, 1 unit renting at $850 per month with lease ending in Oct. Generating a total of $3,550 per month in rental income. A rare opportunity to acquire a quality, income-producing property in a growing community. * * PLEASE DO NOT DISTURB TENANTS * *

16. 2026-03-06
    price $399,000 818-char remark

    Show marketing remark (818 chars)

    Exceptional investment opportunity in * Bolivar * ! With exciting future developments planned for the area-including a new sports complex and hospital-alongside the vibrant and historic downtown square, this property is ideally positioned for long term growth and appreciation. This well-maintained fourplex features four spacious units, each offering 2 bedrooms, 1 bath, a comfortable living room, kitchen, dining area, generously sized bathroom, and ample closet space throughout. All units are currently fully occupied. 3 for $900 per month on month-to-month leases, 1 unit renting at $850 per month with lease ending in Oct. Generating a total of $3,550 per month in rental income. A rare opportunity to acquire a quality, income-producing property in a growing community. * * PLEASE DO NOT DISTURB TENANTS * *

17. 2026-02-13
    listed $409,000 Active 818-char remark

    Show marketing remark (818 chars)

    Exceptional investment opportunity in * Bolivar * ! With exciting future developments planned for the area-including a new sports complex and hospital-alongside the vibrant and historic downtown square, this property is ideally positioned for long term growth and appreciation. This well-maintained fourplex features four spacious units, each offering 2 bedrooms, 1 bath, a comfortable living room, kitchen, dining area, generously sized bathroom, and ample closet space throughout. All units are currently fully occupied. 3 for $900 per month on month-to-month leases, 1 unit renting at $850 per month with lease ending in Oct. Generating a total of $3,550 per month in rental income. A rare opportunity to acquire a quality, income-producing property in a growing community. * * PLEASE DO NOT DISTURB TENANTS * *

18. 2024-12-02
    soldstatus $336,000
19. 2024-11-25
    soldstatus $336,000 Closed 376-char remark

    Show marketing remark (376 chars)

    Ever thought about house hacking? Here's your chance! This quad features 2 bedroom, one bath units. You can live in one and keep the other 3 tenants! Currently there are 3 rented units brining in $2175 per month and one owner occupied unit. All units feature washer/dryer connections, refrigerators, ranges and dishwashers. Priced to sell! Call for your private showing today!

20. 2024-09-18
    status Pending 376-char remark

    Show marketing remark (376 chars)

    Ever thought about house hacking? Here's your chance! This quad features 2 bedroom, one bath units. You can live in one and keep the other 3 tenants! Currently there are 3 rented units brining in $2175 per month and one owner occupied unit. All units feature washer/dryer connections, refrigerators, ranges and dishwashers. Priced to sell! Call for your private showing today!

21. 2024-09-06
    listed $340,000 Active 376-char remark

    Show marketing remark (376 chars)

    Ever thought about house hacking? Here's your chance! This quad features 2 bedroom, one bath units. You can live in one and keep the other 3 tenants! Currently there are 3 rented units brining in $2175 per month and one owner occupied unit. All units feature washer/dryer connections, refrigerators, ranges and dishwashers. Priced to sell! Call for your private showing today!

22. 2021-09-15
    soldstatus $214,000
23. 2021-07-22
    listed $214,000
24. 2011-07-18
    soldstatus $95,000
25. 2011-06-06
    historical
26. 2011-03-28
    listed $99,900
27. 2007-03-05
    soldstatus $225,000
28. 2006-03-17
    soldstatus $64,100

ⓘ 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: $2,437 · $203/mo
• Projected year-2 tax: $2,549 · $212/mo
• Expected delta: +$112/yr (+$9/mo · 4.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,200
• − Mortgage interest: −$20,110
• − Property taxes: −$2,437
• − Insurance: −$1,795
• − Repairs & maintenance: −$2,976
• − Management: −$2,976
• − Depreciation: −$10,444
• Taxable loss: −$3,537
• Est. tax savings @ 24.0%: +$849
• After-tax cash flow: $3,413/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: Hardeman County Schools
• NCES district ID: 4701650
• Math proficiency: 11% ▼ -11.00%
• Reading proficiency: 16% ▼ -6.00%
• Median HH income: $33,190
• Composite: 10.9/100
• National rank: #9754
• State rank: #133 of 139 in TN

Livability — Bolivar

• Score: 52/100
• State rank: #397
• US rank: #24758

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bolivar, TN

Population outlook (Hardeman County) Hauer SSP2

• Today (2025): 23,629 people
• By 2030: 22,413 · -5.1%
• By 2040: 19,910 · -15.7%
• By 2050: 17,692 · -25.1%
• By 2075: 13,532 · -42.7%
• By 2100: 10,178 · -56.9%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+475.7% since first listed

15 events — show timeline

• 2026-04-15 Price Changed $369,000 Memphis Area Association of Realtors(R) MLS
• 2026-03-22 Price Changed $379,000 Memphis Area Association of Realtors(R) MLS
• 2026-03-06 Price Changed $399,000 Memphis Area Association of Realtors(R) MLS
• 2026-02-13 Listed $409,000 Memphis Area Association of Realtors(R) MLS
• 2024-12-02 Sold (Public Records) $336,000 Public Records
• 2024-11-25 Sold (MLS) $336,000 CWTAR
• 2024-09-18 Pending — CWTAR
• 2024-09-06 Listed $340,000 CWTAR
• 2021-09-15 Sold (MLS) $214,000 CWTAR
• 2021-07-22 Listed $214,000 CWTAR
• 2011-07-18 Sold (MLS) $95,000 Memphis Area Association of Realtors(R) MLS
• 2011-06-06 Delisted — Memphis Area Association of Realtors(R) MLS
• 2011-03-28 Listed $99,900 Memphis Area Association of Realtors(R) MLS
• 2007-03-05 Sold (Public Records) $225,000 Public Records
• 2006-03-17 Sold (Public Records) $64,100 Public Records

Property tax history

+0.4%/yr

Latest (2025): $2,437 · +44.5% YoY. Source: county tax records.