661 Long St · Graysville, TN 37321

$159,900

3 bd · 3.0 ba · 1,620 sqft · SingleFamily public records · 48 Days on market

Built 1977 0.62 ac lot $99/sqft · 26% below area Est $216k · 26% under ↓ 5% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +12.5/30.0
• DSCR +3.7/10.0
• Livability +2.9/5.0
• Schools +2.8/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in the peaceful Graysville community just south of Dayton, this 1,620-square-foot cottage sits on a generous 0.62-acre level lot that offers a rare blend of privacy and usable outdoor space. Built in 1977, the home features a classic stone-accented exterior and a large yard to create significant curb appeal for those with an eye for renovation. The heart of the home consists of a functional galley-style kitchen that transitions into two distinct living areas: a traditional family room and an expansive den. This dual-living space setup provides the flexibility needed for a modern home office, a playroom, or a large entertaining hub. The true value of this property lies in its expansi

Key facts

• Galley-style kitchen
• 0.62-acre level lot
• Expansive grounds

Tags

• 0.62-ACRE LEVEL LOT
• STONE-ACCENTED EXTERIOR
• GALLEY-STYLE KITCHEN
• TWO DISTINCT LIVING AREAS
• EXPANSIVE GROUNDS

Property features AI

Finance

• Other: Living area about 1620 (units: square feet)

Exterior

• Parking: Driveway; Gravel parking
• Utilities: Public water available; Septic tank; Water available
• Home design: Single-family residence; Residential property; Three or more levels; Existing structure
• Construction: Stone and other exterior materials; Other roof type
• Exterior features: Level lot; Lot approximately 0.62 acres; Lot dimensions about 70M x 412 irregular

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Other cooling
• Interior features: Ceiling fans

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-89 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (9.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (25.0% below list).
• Recommended offer: $120k (25.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 58/100 on livability (#298 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Rhea County (rural): math 35% / reading 31% proficiency, ranked #38 of 139 in TN (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Graysville Elementary School (math 22% / reading 27%, grade F, #546 of 952 statewide, top 61%, 229 students, 0% FRL); Rhea Middle School (math 39% / reading 26%, grade F, #81 of 333 statewide, top 26%, 556 students, 0% FRL); Rhea County High School (math 24% / reading 35%, grade F, #86 of 332 statewide, top 27%, 1,500 students, 0% FRL) — zoned schools average 0% FRL vs 60% district-wide (60 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 216 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 198 units permitted in Rhea County in 2024 (40 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.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; moderate wildfire risk; extreme-heat days projected 8→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,000 (25.0% 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 48 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
8. 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.
9. 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.
10. 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: 0.75% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.61%
• DSCR: 0.97
• GRM: 11.1

CMA / ARV

• ARV (median comp): $215,931
• List price: $159,900
• Delta: -25.95%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
154 S Pope St	0.24mi	3/2.0	1,592 (-2%)	8mo	$259,000	$163	75
155 Gray St	0.60mi	3/2.0	1,431 (-12%)	3mo	$90,000	$63	46
4343 Dayton Ave	0.56mi	3/2.0	1,450 (-10%)	20mo	$289,000	$199	35

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: -20.3%
• Equity multiple: 0.29×
• Total profit: $-31,626
• Equity at exit: $23,842

10-year hold

• IRR: -13.4%
• Equity multiple: 0.22×
• Total profit: $-34,964
• Equity at exit: $13,825

Cash invested: $44,772 (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 37321

• Home prices YoY: -12.0%
• Active inventory: 216
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,200 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$66 /mo · $789/yr
• Insurance: −$67
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $-89

Break-even live

Break-even rent $1,313

Max offer price $144,113

Occupancy floor —

Sensitivity live

Price	-10% $1	-5% $-44	+0% $-89	+5% $-135	+10% $-180
Rent	-10% $-184	-5% $-137	+0% $-89	+5% $-42	+10% $5
Rate	-1.0pp $-9	-0.5pp $-49	base $-89	+0.5pp $-131	+1.0pp $-173

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
210 6th St Graysville, TN	2.0	1.0	1092	$1,200	$1.10	15d	1	0.17mi

Listing history 31 events

1. 2026-06-21
   days on market $159,900 Coming Soon 48 DOM
2. 2026-06-21
   days on market $159,900 Coming Soon 47 DOM
3. 2026-06-18
   days on market $159,900 Coming Soon 45 DOM
4. 2026-06-17
   days on market $159,900 Coming Soon 44 DOM
5. 2026-06-16
   days on market $159,900 Coming Soon 43 DOM
6. 2026-06-15
   days on market $159,900 Coming Soon 42 DOM
7. 2026-06-13
   days on market $159,900 Coming Soon 40 DOM
8. 2026-06-12
   days on market $159,900 Coming Soon 39 DOM
9. 2026-06-09
   days on market $159,900 Coming Soon 36 DOM
10. 2026-06-08
    days on market $159,900 Coming Soon 35 DOM
11. 2026-06-08
    days on market $159,900 Coming Soon 34 DOM
12. 2026-06-07
    days on market $159,900 Coming Soon 33 DOM
13. 2026-06-03
    days on market $159,900 Coming Soon 30 DOM
14. 2026-06-02
    days on market $159,900 Coming Soon 29 DOM
15. 2026-06-01
    days on market $159,900 Coming Soon 28 DOM
16. 2026-05-31
    days on market $159,900 Coming Soon 27 DOM
17. 2026-05-03
    price $159,900 1221-char remark
18. 2026-05-03
    price $159,900 1221-char remark
19. 2026-04-23
    price $166,900 1221-char remark
20. 2026-04-23
    price $166,900 1221-char remark
21. 2026-04-08
    price $168,000 1221-char remark
22. 2026-04-08
    price $168,000 1221-char remark
23. 2026-03-28
    listed $169,900 Active 1221-char remark
24. 2026-03-28
    listed $169,900 Active 1221-char remark
25. 2026-03-28
    listed $159,900 Active
26. 2024-07-09
    soldstatus $169,000
27. 2024-07-05
    soldstatus $169,000 Closed
28. 2024-07-05
    soldstatus $169,000
29. 2024-06-04
    historical Contingent
30. 2024-05-18
    listed $174,900 Active
31. 2024-05-18
    listed $169,000

ⓘ 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: $789 · $66/mo
• Projected year-2 tax: $1,135 · $95/mo
• Expected delta: +$346/yr (+$29/mo · 43.9%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 8 d/yr ≥105°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $14,400
• − Mortgage interest: −$8,957
• − Property taxes: −$789
• − Insurance: −$1,597
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$4,652
• Taxable loss: −$3,899
• Est. tax savings @ 24.0%: +$936
• After-tax cash flow: $-137/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: Rhea County
• NCES district ID: 4703510
• Math proficiency: 35% ▼ -7.00%
• Reading proficiency: 31% ▼ -5.00%
• Median HH income: $39,059
• Composite: 27.67/100
• National rank: #6917
• State rank: #38 of 139 in TN

Livability — Graysville

• Score: 58/100
• State rank: #298
• US rank: #20631

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Graysville, TN
• Population (ZIP): 20,670

Population outlook (Rhea County) Hauer SSP2

• Today (2025): 33,187 people
• By 2030: 33,482 · +0.9%
• By 2040: 33,786 · +1.8%
• By 2050: 33,730 · +1.6%
• By 2075: 33,603 · +1.3%
• By 2100: 33,312 · +0.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 9% Two or more races 8% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 2% Serbian 2%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 6% Other Indo-European 1%

Political lean MEDSL · Rhea

• 2024 margin: Solid R (+66.9) · D 16.0% · R 82.9% · Other 1.1%
• 2008→2024 swing: -20.7pp toward R · 2008: -46.2pp · 2024: -66.9pp
• All cycles: 2024: R+66.9 2020: R+63.7 2016: R+61.3 2012: R+48.9 2008: R+46.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.20%
• Current HPI: 323.7125
• 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

-5.4% since first listed

16 events — show timeline

• 2026-05-21 Coming Soon $159,900 REALTRACS as Distributed by MLS Grid
• 2026-05-03 Price Changed $159,900 RCAOR
• 2026-05-03 Price Changed $159,900 GCAR
• 2026-04-23 Price Changed $166,900 RCAOR
• 2026-04-23 Price Changed $166,900 GCAR
• 2026-04-08 Price Changed $168,000 RCAOR
• 2026-04-08 Price Changed $168,000 GCAR
• 2026-03-28 Listed $169,900 GCAR
• 2026-03-28 Listed $169,900 RCAOR
• 2026-03-28 Listed $159,900 REALTRACS as Distributed by MLS Grid
• 2024-07-09 Sold (Public Records) $169,000 Public Records
• 2024-07-05 Sold (MLS) $169,000 RCAOR
• 2024-07-05 Sold (MLS) $169,000 GCAR
• 2024-06-04 Contingent — GCAR
• 2024-05-18 Listed $174,900 GCAR
• 2024-05-18 Listed $169,000 RCAOR

Property tax history

+3.6%/yr

Latest (2025): $789 · +4.0% YoY. Source: county tax records.