322 Leonard St · Greeneville, TN 37745

$170,000

3 bd · 2.0 ba · 936 sqft · SingleFamily public records · 24 Days on market

Built 1982 Est $144k · 18% 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).

• Cash flow +14.8/30.0
• DSCR +4.5/10.0
• Livability +3.3/5.0
• 1% rule +2.9/10.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully renovated home that offers comfort, space, and abundant natural light throughout. The exterior was completely refreshed in 2024, giving the property a clean, modern look and excellent curb appeal. Inside, you & acirc; & euro; & trade; ll find a bright and inviting open living area featuring large windows that fill the home with natural light, creating a warm and welcoming atmosphere. The spacious kitchen was remodeled in 2019 and offers ample cabinet storage, modern appliances, and plenty of room for cooking, dining, and entertaining. The home features a spacious primary suite designed for comfort and convenience. The primary bedroom includes a privat

Key facts

• Renovated home
• Spacious kitchen
• Primary suite

Tags

• RENOVATED HOME
• REFRESHED EXTERIOR
• OPEN LIVING AREA
• SPACIOUS KITCHEN
• PRIMARY SUITE
• DEDICATED LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $47 ($565/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (21.0% below list).
• Recommended offer: $134k (21.0% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 2.7% in Greeneville — 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 66/100 on livability (#125 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D-, amenities F, commute F.
• Greeneville (town): math 31% / reading 34% proficiency, ranked #45 of 139 in TN (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 224 active listings in the ZIP; 333 units permitted in Greene County in 2024 (72 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Greene County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $22k; list at $170k implies a 673% gain — meaningful room to come down on a strong offer.

Recommended offer $134,290 (21.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 0.79% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.19%
• DSCR: 1.05
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $144,144
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
320 Highland Ave	0.06mi	3/1.0	903 (-4%)	6mo	$55,000	$61	82
304 Highland Ave	0.09mi	2/1.0 (-1)	905 (-3%)	2mo	$62,000	$69	80
333 Loretta St	0.12mi	2/2.0 (-1)	1,053 (+12%)	2mo	$85,000	$81	67
330 Church St	0.68mi	3/2.0	860 (-8%)	3mo	$210,000	$244	53
700 Church St	0.34mi	2/2.0 (-1)	872 (-7%)	21mo	$168,750	$194	50
118 Curtis St	0.65mi	3/1.0	936 (0%)	20mo	$100,000	$107	49
408 Oak Grove Ave	0.49mi	2/1.0 (-1)	1,045 (+12%)	0mo	$260,000	$249	48
718 Main St	0.63mi	2/1.0 (-1)	988 (+6%)	6mo	$165,000	$167	48
327 Floral St	0.67mi	3/1.0	924 (-1%)	20mo	$35,000	$38	46
107 Cress Aly	0.54mi	3/2.0	1,000 (+7%)	22mo	$154,000	$154	46
512 N North Hill St St	0.26mi	2/1.0 (-1)	846 (-10%)	24mo	$60,000	$71	43
122 Housley Ave	0.74mi	2/1.0 (-1)	918 (-2%)	17mo	$181,000	$197	39

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.48×
• Total profit: $-24,629
• Equity at exit: $25,348

10-year hold

• IRR: -5.8%
• Equity multiple: 0.62×
• Total profit: $-17,907
• Equity at exit: $14,698

Cash invested: $47,600 (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 37745

• Home prices YoY: -6.0%
• Active inventory: 224
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,343 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$52 /mo · $618/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $47

Break-even live

Break-even rent $1,283

Max offer price $170,000

Occupancy floor 92%

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $170,000 Active 24 DOM
2. 2026-06-18
   days on market $170,000 Active 23 DOM
3. 2026-06-17
   days on market $170,000 Active 22 DOM
4. 2026-06-16
   days on market $170,000 Active 21 DOM
5. 2026-06-15
   days on market $170,000 Active 20 DOM
6. 2026-06-14
   days on market $170,000 Active 18 DOM
7. 2026-06-12
   days on market $170,000 Active 17 DOM
8. 2026-06-09
   days on market $170,000 Active 14 DOM
9. 2026-06-08
   days on market $170,000 Active 13 DOM
10. 2026-06-07
    days on market $170,000 Active 12 DOM
11. 2026-06-03
    days on market $170,000 Active 8 DOM
12. 2026-06-02
    days on market $170,000 Active 7 DOM
13. 2026-06-01
    days on market $170,000 Active 6 DOM
14. 2026-05-31
    days on market $170,000 Active 5 DOM
15. 2026-05-30
    days on market $170,000 Active 4 DOM
16. 2026-05-26
    listed $170,000 Active
17. 2003-06-24
    soldstatus $22,000
18. 2001-06-11
    soldstatus $19,000
19. 1990-06-01
    soldstatus $9,500

ⓘ 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: $618 · $52/mo
• Projected year-2 tax: $1,207 · $101/mo
• Expected delta: +$589/yr (+$49/mo · 95.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,115
• − Mortgage interest: −$9,523
• − Property taxes: −$618
• − Insurance: −$850
• − Repairs & maintenance: −$1,289
• − Management: −$1,289
• − Depreciation: −$4,945
• Taxable loss: −$2,400
• Est. tax savings @ 24.0%: +$576
• After-tax cash flow: $1,141/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: Greeneville
• NCES district ID: 4701500
• Math proficiency: 31% ▼ -15.00%
• Reading proficiency: 34% ▼ -7.00%
• Median HH income: $32,683
• Composite: 26.62/100
• National rank: #7176
• State rank: #45 of 139 in TN

Livability — Greeneville

• Score: 66/100
• State rank: #125
• US rank: #11825

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greeneville, TN
• County: Greene County · 45,638 people
• City population: 45,638
• Metro: Greeneville, TN
• Population (ZIP): 21,090
• Household income: $57,159
• Rent vs Own: 25.8% rent · 74.2% own
• Severe rent burden: 359.0

Population outlook (Greene County) Hauer SSP2

• Today (2025): 68,624 people
• By 2030: 68,114 · -0.7%
• By 2040: 66,167 · -3.6%
• By 2050: 63,038 · -8.1%
• By 2075: 55,274 · -19.5%
• By 2100: 45,527 · -33.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 8% Two or more races 5% Black 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Serbian 2% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% Chinese 1%

Political lean MEDSL · Greene

• 2024 margin: Solid R (+65.7) · D 16.6% · R 82.3% · Other 1.2%
• 2008→2024 swing: -25.0pp toward R · 2008: -40.7pp · 2024: -65.7pp
• All cycles: 2024: R+65.7 2020: R+60.7 2016: R+61.0 2012: R+46.0 2008: R+40.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.99%
• Current HPI: 295.4621
• Rent YoY: —
• Metro: Greeneville, 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

+1689.5% since first listed

4 events — show timeline

• 2026-05-26 Listed $170,000 FSBO.com
• 2003-06-24 Sold (Public Records) $22,000 Public Records
• 2001-06-11 Sold (Public Records) $19,000 Public Records
• 1990-06-01 Sold (Public Records) $9,500 Public Records

Property tax history

+3.1%/yr

Latest (2025): $618 · +0.0% YoY. Source: county tax records.