501 Central Ave · Athens, TN 37303

$69,900

2 bd · 1.0 ba · 728 sqft · SingleFamily public records · 22 Days on market

Built 1935 0.40 ac lot Est $74k · 6% under

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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 +30.0/30.0
• ARV discount +10.1/15.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Rent growth +3.9/5.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This two-bedroom, one-bathroom home is situated within Athens city limits, offering a central location just minutes from downtown, the Farmer's Market Pavilion, Veteran's Park, Mayfield Visitor Center, Mayfield Farm Park, Eureka Trail, and other attractions. The property presents a great opportunity for revitalization, making it an ideal future home for someone. Sold as-is for cash only, seller to make no repairs. Buyer to confirm all information.

Key facts

• Athens city limits
• Central location
• Veteran's park

Tags

• ATHENS CITY LIMITS
• CENTRAL LOCATION
• DOWNTOWN
• FARMER'S MARKET PAVILION
• VETERAN'S PARK
• MAYFIELD VISITOR CENTER

Property features AI

Exterior

• Parking: Designated parking
• Utilities: Public sewer
• Home design: Detached property
• Construction: Vinyl siding and block construction
• Exterior features: Vinyl windows; City view

Interior

• Flooring: Hardwood; Tile
• Bathrooms: One full bathroom
• Heating & cooling: Central heating (electric); Central cooling; Ceiling fan(s)
• Interior features: Five total rooms; Hardwood and tile flooring; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $317 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 2.8% in Athens — 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 62/100 on livability (#229 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools D-, crime F, amenities F.
• Athens (town): math 38% / reading 33% proficiency, ranked #34 of 139 in TN (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.7%/yr); 273 active listings in the ZIP; 45 units permitted in McMinn County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.7% rent growth), your $20k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 22y ago 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,851 (1.5% below list)

Questions for the listing agent

1. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.45% ✓
• Cap rate: 12.88%
• Cash-on-cash: 23.52%
• DSCR: 2.05
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $74,256
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
320 Hicks St	0.10mi	2/1.0	732 (+0%)	4mo	$75,000	$102	91
212 S Jackson St	0.44mi	2/1.0	812 (+12%)	6mo	$62,500	$77	55

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 · 5.72% rent growth · sell at horizon

5-year hold

• IRR: 14.5%
• Equity multiple: 1.60×
• Total profit: $11,735
• Equity at exit: $10,422

10-year hold

• IRR: 25.2%
• Equity multiple: 3.48×
• Total profit: $48,632
• Equity at exit: $6,044

Cash invested: $19,572 (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 37303

• Rents YoY: 5.7%
• Active inventory: 273
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,012 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$20 /mo · $237/yr
• Insurance: −$29
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $317

Break-even live

Break-even rent $610

Max offer price $69,900

Occupancy floor 64%

Sensitivity live

Price	-10% $357	-5% $337	+0% $317	+5% $297	+10% $278
Rent	-10% $237	-5% $277	+0% $317	+5% $357	+10% $397
Rate	-1.0pp $352	-0.5pp $335	base $317	+0.5pp $299	+1.0pp $281

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-19
   days on market $69,900 Active 22 DOM
2. 2026-06-18
   days on market $69,900 Active 21 DOM
3. 2026-06-17
   days on market $69,900 Active 20 DOM
4. 2026-06-16
   days on market $69,900 Active 19 DOM
5. 2026-06-15
   days on market $69,900 Active 18 DOM
6. 2026-06-14
   days on market $69,900 Active 16 DOM
7. 2026-06-12
   days on market $69,900 Active 15 DOM
8. 2026-06-09
   days on market $69,900 Active 12 DOM
9. 2026-06-08
   days on market $69,900 Active 11 DOM
10. 2026-06-07
    days on market $69,900 Active 10 DOM
11. 2026-06-05
    days on market $69,900 Active 8 DOM
12. 2026-06-03
    days on market $69,900 Active 6 DOM
13. 2026-06-02
    days on market $69,900 Active 5 DOM
14. 2026-06-01
    days on market $69,900 Active 4 DOM
15. 2026-05-31
    days on market $69,900 Active 3 DOM
16. 2026-05-30
    days on market $69,900 Active 2 DOM
17. 2026-02-23
    listed $69,900 Active 451-char remark

    Show marketing remark (451 chars)

    This two-bedroom, one-bathroom home is situated within Athens city limits, offering a central location just minutes from downtown, the Farmer's Market Pavilion, Veteran's Park, Mayfield Visitor Center, Mayfield Farm Park, Eureka Trail, and other attractions. The property presents a great opportunity for revitalization, making it an ideal future home for someone. Sold as-is for cash only, seller to make no repairs. Buyer to confirm all information.

18. 2026-02-23
    listed $69,900 Active

    Show marketing remark (451 chars)

    This two-bedroom, one-bathroom home is situated within Athens city limits, offering a central location just minutes from downtown, the Farmer's Market Pavilion, Veteran's Park, Mayfield Visitor Center, Mayfield Farm Park, Eureka Trail, and other attractions. The property presents a great opportunity for revitalization, making it an ideal future home for someone. Sold as-is for cash only, seller to make no repairs. Buyer to confirm all information.

19. 2025-02-25
    status Pending 175-char remark

    Show marketing remark (175 chars)

    Investor special! Come check out this property ready for your reno. Featuring newer roof, HVAC and updated major systems, this largely cosmetic job could be yours! Sold as is.

20. 2025-02-06
    price $68,000 175-char remark

    Show marketing remark (175 chars)

    Investor special! Come check out this property ready for your reno. Featuring newer roof, HVAC and updated major systems, this largely cosmetic job could be yours! Sold as is.

21. 2025-01-31
    listed $70,000 Active 175-char remark

    Show marketing remark (175 chars)

    Investor special! Come check out this property ready for your reno. Featuring newer roof, HVAC and updated major systems, this largely cosmetic job could be yours! Sold as is.

22. 2020-12-03
    soldstatus $72,500
23. 2020-12-03
    soldstatus $72,500
24. 2020-11-05
    listed $75,000
25. 2019-08-28
    listed $58,900
26. 2018-03-06
    listed $59,000
27. 2018-03-06
    listed $59,000
28. 2017-12-07
    listed $65,900
29. 2017-12-07
    listed $65,900
30. 2017-03-07
    listed $69,700
31. 2005-11-30
    listed $56,500
32. 2004-01-17
    listed $27,900

ⓘ 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: $237 · $20/mo
• Projected year-2 tax: $496 · $41/mo
• Expected delta: +$259/yr (+$22/mo · 109.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $12,138
• − Mortgage interest: −$3,915
• − Property taxes: −$237
• − Insurance: −$1,147
• − Repairs & maintenance: −$971
• − Management: −$971
• − Depreciation: −$2,033
• Taxable income: $2,863
• Est. tax owed @ 24.0%: −$687
• After-tax cash flow: $3,119/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: Athens
• NCES district ID: 4700120
• Math proficiency: 38% ▼ -12.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $31,556
• Composite: 29.03/100
• National rank: #6609
• State rank: #34 of 139 in TN

Livability — Athens

• Score: 62/100
• State rank: #229
• US rank: #16961

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Athens, TN
• County: McMinn County · 25,688 people
• City population: 25,688
• Metro: Athens, TN
• Population (ZIP): 25,688
• Household income: $62,078
• Rent vs Own: 29.1% rent · 70.9% own
• Severe rent burden: 450.0

Population outlook (McMinn County) Hauer SSP2

• Today (2025): 53,766 people
• By 2030: 54,098 · +0.6%
• By 2040: 54,450 · +1.3%
• By 2050: 54,202 · +0.8%
• By 2075: 55,241 · +2.7%
• By 2100: 56,399 · +4.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 5% Black 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 2% Slovak 1% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% German/W. Germanic 1% Russian/Polish/Slavic 1%

Political lean MEDSL · McMinn

• 2024 margin: Solid R (+64.2) · D 17.5% · R 81.7%
• 2008→2024 swing: -22.3pp toward R · 2008: -41.9pp · 2024: -64.2pp
• All cycles: 2024: R+64.2 2020: R+60.6 2016: R+59.7 2012: R+46.9 2008: R+41.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -165.98%
• Current HPI: 244.0901
• Rent YoY: ▲ 5.72%
• Metro: Athens, 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

+150.5% since first listed

16 events — show timeline

• 2026-02-23 Listed $69,900 RCAOR
• 2026-02-23 Listed $69,900 Knoxville MLS
• 2025-02-25 Pending — GCAR
• 2025-02-06 Price Changed $68,000 GCAR
• 2025-01-31 Listed $70,000 GCAR
• 2020-12-03 Sold (Public Records) $72,500 Public Records
• 2020-12-03 Sold (MLS) $72,500 RCAOR
• 2020-11-05 Listed $75,000 RCAOR
• 2019-08-28 Listed $58,900 RCAOR
• 2018-03-06 Listed $59,000 RCAOR
• 2018-03-06 Listed $59,000 Knoxville MLS
• 2017-12-07 Listed $65,900 RCAOR
• 2017-12-07 Listed $65,900 Knoxville MLS
• 2017-03-07 Listed $69,700 RCAOR
• 2005-11-30 Listed $56,500 Knoxville MLS
• 2004-01-17 Listed $27,900 Knoxville MLS

Property tax history

-0.8%/yr

Latest (2025): $237 · +0.0% YoY. Source: county tax records.