134 Hardys Chapel Rd · Cookeville, TN 38506

$100,000

3 bd · 2.0 ba · 1,200 sqft · Other public records · 136 Days on market

Built 1990 2.49 ac lot

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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 +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

RARE find and a Builder's dream! 2.49 acres of unrestricted cleared acreage with utilities and road access in a prime location within 15 minutes of Cookeville! Manufactured home along with 2 outbuildings included. May also be used as rental or live in while you build your dream home!

Key facts

• Utilities
• Manufactured home
• Road access

Tags

• 2.49 ACRES
• UNRESTRICTED CLEARED ACREAGE
• UTILITIES
• ROAD ACCESS
• PRIME LOCATION
• MANUFACTURED HOME

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $100k.

Deal economics

• At list price, monthly cash flow is $740 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.2% vs local median 3.1% in Cookeville — 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 76/100 on livability (#11 in TN, #3,551 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: commute F, employment F.
• Overton County (rural): math 27% / reading 30% proficiency, ranked #70 of 139 in TN (top 50%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Rickman Elementary (math 41% / reading 37%, grade F, #253 of 952 statewide, top 27%, 709 students, 0% FRL); Livingston Middle School (math 28% / reading 25%, grade F, #135 of 333 statewide, top 43%, 276 students, 0% FRL); Livingston Academy (math 8% / reading 41%, grade F, #143 of 332 statewide, top 43%, 885 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 332 active listings in the ZIP; 17 units permitted in Overton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Overton County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $25k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% 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 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. 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: 1.68% ✓
• Cap rate: 15.18%
• Cash-on-cash: 31.72%
• DSCR: 2.41
• GRM: 5.0

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: 26.6%
• Equity multiple: 2.10×
• Total profit: $30,902
• Equity at exit: $14,910

10-year hold

• IRR: 34.2%
• Equity multiple: 4.12×
• Total profit: $87,458
• Equity at exit: $8,646

Cash invested: $28,000 (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 38506

• Home prices YoY: -20.1%
• Active inventory: 332
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,680 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$21 /mo · $255/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $740

Break-even live

Break-even rent $743

Max offer price $100,000

Occupancy floor 51%

Sensitivity live

Price	-10% $797	-5% $769	+0% $740	+5% $712	+10% $684
Rent	-10% $607	-5% $674	+0% $740	+5% $807	+10% $873
Rate	-1.0pp $791	-0.5pp $766	base $740	+0.5pp $714	+1.0pp $688

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $100,000 Active 136 DOM
2. 2026-06-19
   days on market $100,000 Active 134 DOM
3. 2026-06-18
   days on market $100,000 Active 133 DOM
4. 2026-06-17
   days on market $100,000 Active 132 DOM
5. 2026-06-16
   days on market $100,000 Active 131 DOM
6. 2026-06-15
   days on market $100,000 Active 130 DOM
7. 2026-06-14
   days on market $100,000 Active 128 DOM
8. 2026-06-13
   days on market $100,000 Active 127 DOM
9. 2026-06-10
   days on market $100,000 Active 125 DOM
10. 2026-06-09
    days on market $100,000 Active 124 DOM
11. 2026-06-08
    days on market $100,000 Active 123 DOM
12. 2026-06-07
    days on market $100,000 Active 122 DOM
13. 2026-06-02
    days on market $100,000 Active 117 DOM
14. 2026-06-01
    days on market $100,000 Active 116 DOM
15. 2026-05-31
    days on market $100,000 Active 115 DOM
16. 2026-05-30
    days on market $100,000 Active 114 DOM
17. 2026-03-30
    status Active 284-char remark

    Show marketing remark (284 chars)

    RARE find and a Builder's dream! 2.49 acres of unrestricted cleared acreage with utilities and road access in a prime location within 15 minutes of Cookeville! Manufactured home along with 2 outbuildings included. May also be used as rental or live in while you build your dream home!

18. 2026-03-03
    status Pending 284-char remark

    Show marketing remark (284 chars)

    RARE find and a Builder's dream! 2.49 acres of unrestricted cleared acreage with utilities and road access in a prime location within 15 minutes of Cookeville! Manufactured home along with 2 outbuildings included. May also be used as rental or live in while you build your dream home!

19. 2026-02-20
    price $100,000 284-char remark

    Show marketing remark (284 chars)

    RARE find and a Builder's dream! 2.49 acres of unrestricted cleared acreage with utilities and road access in a prime location within 15 minutes of Cookeville! Manufactured home along with 2 outbuildings included. May also be used as rental or live in while you build your dream home!

20. 2026-02-01
    price $115,000 284-char remark

    Show marketing remark (284 chars)

    RARE find and a Builder's dream! 2.49 acres of unrestricted cleared acreage with utilities and road access in a prime location within 15 minutes of Cookeville! Manufactured home along with 2 outbuildings included. May also be used as rental or live in while you build your dream home!

21. 2026-01-10
    listed $125,000 Active 284-char remark

    Show marketing remark (284 chars)

    RARE find and a Builder's dream! 2.49 acres of unrestricted cleared acreage with utilities and road access in a prime location within 15 minutes of Cookeville! Manufactured home along with 2 outbuildings included. May also be used as rental or live in while you build your dream home!

22. 2021-10-22
    soldstatus $75,000 248-char remark

    Show marketing remark (248 chars)

    Great property ready to go! 2.49 acres of land with additional room for more rentals. This property has a pond on it. This property is unrestricted. The outbuilding on the premise belongs to the renters and will not remain and convey with the sell.

23. 2021-06-07
    listed $89,000 248-char remark

    Show marketing remark (248 chars)

    Great property ready to go! 2.49 acres of land with additional room for more rentals. This property has a pond on it. This property is unrestricted. The outbuilding on the premise belongs to the renters and will not remain and convey with the sell.

ⓘ 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: $255 · $21/mo
• Projected year-2 tax: $710 · $59/mo
• Expected delta: +$455/yr (+$38/mo · 178.7%)

ⓘ 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 4/10 Moderate 7 d/yr ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,165
• − Mortgage interest: −$5,602
• − Property taxes: −$255
• − Insurance: −$500
• − Repairs & maintenance: −$1,613
• − Management: −$1,613
• − Depreciation: −$2,909
• Taxable income: $7,673
• Est. tax owed @ 24.0%: −$1,842
• After-tax cash flow: $7,041/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: Overton County
• NCES district ID: 4703330
• Math proficiency: 27% ▼ -12.00%
• Reading proficiency: 30% ▼ -2.00%
• Median HH income: $34,479
• Composite: 23.47/100
• National rank: #7879
• State rank: #70 of 139 in TN

Livability — Cookeville

• Score: 76/100
• State rank: #11
• US rank: #3551

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Putnam County · 72,571 people
• City population: 72,571
• Metro: Cookeville, TN
• Population (ZIP): 30,100
• Household income: $70,279
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 415.0

Population outlook (Overton County) Hauer SSP2

• Today (2025): 21,942 people
• By 2030: 21,633 · -1.4%
• By 2040: 20,812 · -5.1%
• By 2050: 19,770 · -9.9%
• By 2075: 17,125 · -22.0%
• By 2100: 13,695 · -37.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 4%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 3% Slovak 3% Serbian 2%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Overton

• 2024 margin: Solid R (+64.2) · D 17.4% · R 81.7%
• 2008→2024 swing: -50.9pp toward R · 2008: -13.3pp · 2024: -64.2pp
• All cycles: 2024: R+64.2 2020: R+58.6 2016: R+50.2 2012: R+25.7 2008: R+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.51%
• Current HPI: 288.5877
• Rent YoY: —
• Metro: Cookeville, 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

+12.4% since first listed

7 events — show timeline

• 2026-03-30 Relisted — UCMLS
• 2026-03-03 Pending — UCMLS
• 2026-02-20 Price Changed $100,000 UCMLS
• 2026-02-01 Price Changed $115,000 UCMLS
• 2026-01-10 Listed $125,000 UCMLS
• 2021-10-22 Sold (MLS) $75,000 UCMLS
• 2021-06-07 Listed $89,000 UCMLS

Property tax history

+15.0%/yr

Latest (2025): $255 · -20.2% YoY. Source: county tax records.