493 County Road 298 · Sweetwater, TN 37874

$69,900

2 bd · 2.0 ba · 1,064 sqft · Manufactured public records · 102 Days on market

Built 2008 1.00 ac lot $66/sqft · 70% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Handyman Special! If you are looking for a fixer-upper or investment opportunity, then this is the property! Home has 2 bedrooms and 2 full baths, Eat-In kitchen, and a laundry room. Two storage sheds. Close to the towns of Sweetwater and Madisonville and Interstate/

Key facts

• Laundry room
• Eat-in kitchen
• Two storage sheds

Tags

• EAT-IN KITCHEN
• LAUNDRY ROOM
• TWO STORAGE SHEDS
• CLOSE TO INTERSTATE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $558 ($7k/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: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.9% vs local median 4.1% in Sweetwater — 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 (#134 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Mcminn County (rural): math 24% / reading 29% proficiency, ranked #77 of 139 in TN (top 55%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 137 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 + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y 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.
• Current owner paid $45k; list at $70k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire 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 $63,609 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
6. 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.
7. 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: 1.76% ✓
• Cap rate: 15.87%
• Cash-on-cash: 34.21%
• DSCR: 2.52
• GRM: 4.7

CMA / ARV

• ARV (median comp): $234,000
• List price: $69,900
• Delta: -70.13%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 29.6%
• Equity multiple: 2.24×
• Total profit: $24,190
• Equity at exit: $10,422

10-year hold

• IRR: 36.9%
• Equity multiple: 4.41×
• Total profit: $66,733
• 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 37874

• Home prices YoY: -5.4%
• Active inventory: 137
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,231 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$19 /mo · $230/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $558

Break-even live

Break-even rent $525

Max offer price $69,900

Occupancy floor 50%

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 19 events

1. 2026-06-19
   days on market $69,900 Active 102 DOM
2. 2026-06-18
   days on market $69,900 Active 101 DOM
3. 2026-06-17
   days on market $69,900 Active 100 DOM
4. 2026-06-16
   days on market $69,900 Active 99 DOM
5. 2026-06-15
   days on market $69,900 Active 98 DOM
6. 2026-06-14
   days on market $69,900 Active 96 DOM
7. 2026-06-12
   days on market $69,900 Active 95 DOM
8. 2026-06-09
   days on market $69,900 Active 92 DOM
9. 2026-06-08
   days on market $69,900 Active 91 DOM
10. 2026-06-07
    days on market $69,900 Active 90 DOM
11. 2026-06-07
    days on market $69,900 Active 89 DOM
12. 2026-06-03
    days on market $69,900 Active 86 DOM
13. 2026-06-02
    days on market $69,900 Active 85 DOM
14. 2026-06-01
    days on market $69,900 Active 84 DOM
15. 2026-05-31
    days on market $69,900 Active 83 DOM
16. 2026-05-30
    days on market $69,900 Active 82 DOM
17. 2026-03-09
    listed $69,900 Active 267-char remark

    Show marketing remark (267 chars)

    Handyman Special! If you are looking for a fixer-upper or investment opportunity, then this is the property! Home has 2 bedrooms and 2 full baths, Eat-In kitchen, and a laundry room. Two storage sheds. Close to the towns of Sweetwater and Madisonville and Interstate/

18. 2013-11-01
    soldstatus $44,900 314-char remark

    Show marketing remark (314 chars)

    Great views from this cute home on 1 acre of farm land, new carpet and paint. Split bedroom design with 2 large bedrooms 2 bathrooms, large eat in kitchen with center island and lots of cabinets. Possible Owner Financing available. If no Heat and Air Unti currently at property seller will install prior to closing

19. 2013-09-28
    listed $44,900 314-char remark

    Show marketing remark (314 chars)

    Great views from this cute home on 1 acre of farm land, new carpet and paint. Split bedroom design with 2 large bedrooms 2 bathrooms, large eat in kitchen with center island and lots of cabinets. Possible Owner Financing available. If no Heat and Air Unti currently at property seller will install prior to closing

ⓘ 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: $230 · $19/mo
• Projected year-2 tax: $496 · $41/mo
• Expected delta: +$266/yr (+$22/mo · 115.8%)

ⓘ 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 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $14,778
• − Mortgage interest: −$3,915
• − Property taxes: −$230
• − Insurance: −$350
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$2,033
• Taxable income: $5,885
• Est. tax owed @ 24.0%: −$1,412
• After-tax cash flow: $5,284/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: Mcminn County
• NCES district ID: 4702820
• Math proficiency: 24% ▼ -11.00%
• Reading proficiency: 29% ▼ -4.00%
• Median HH income: $41,622
• Composite: 22.49/100
• National rank: #8099
• State rank: #77 of 139 in TN

Livability — Sweetwater

• Score: 66/100
• State rank: #134
• US rank: #12256

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

• City population: 16,640
• Population (ZIP): 16,640

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 7% Two or more races 7% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 3% Iranian 2% Lithuanian 2%
• Foreign-born: 3% · Canada, Jamaica, China
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -19.36%
• Current HPI: 336.2084
• 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

+55.7% since first listed

3 events — show timeline

• 2026-03-09 Listed $69,900 Knoxville MLS
• 2013-11-01 Sold (MLS) $44,900 Knoxville MLS
• 2013-09-28 Listed $44,900 Knoxville MLS

Property tax history

+2.8%/yr

Latest (2025): $230 · +0.0% YoY. Source: county tax records.