632 E Madison St · Pulaski, TN 38478

$169,900

4 bd · 2.0 ba · 2,089 sqft · SingleFamily public records · 120 Days on market

Built 1948 0.26 ac lot $81/sqft · 19% below area Est $209k · 19% under

---

Why this score? — see what drove the C- 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 +17.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• 1% rule +3.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Duplex Near Downtown Pulaski’s Square! (could be used as a single family) 📍 Prime Location – Only a few blocks from the Square in Pulaski ✨ Property Features: ▪️ Duplex – Both Units 2 Bedrooms / 1 Bath ▪️ Conveniently Located ▪️ Large, Easy-to-Maintain Yard ▪️ Great Opportunity to Improve & Add Value ▪️ No Tenants – Remodel & Lease from Day One! 💼 Perfect investment opportunity or house-hack potential! 📞 Call Today to Schedule Your Showing!

Key facts

• 0.26 acre lot
• Built 1948
• Listed 120 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $130 ($2k/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 $148k (13.0% below list).
• Recommended offer: $148k (13.0% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 2.7% in Pulaski — 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 64/100 on livability (#174 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Giles County (rural): math 20% / reading 24% proficiency, ranked #105 of 139 in TN (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 186 active listings in the ZIP; 73 units permitted in Giles County in 2024 (0 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.
• Giles County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $170k implies a 278% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,776 (13.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.87% ✗
• Cap rate: 7.21%
• Cash-on-cash: 3.28%
• DSCR: 1.15
• GRM: 9.6

CMA / ARV

• ARV (median comp): $208,648
• List price: $169,900
• Delta: -18.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
614 Yokley Ln	0.25mi	4/2.0	2,142 (+2%)	2mo	$210,000	$98	82
538 E Madison St	0.15mi	3/2.0 (-1)	2,056 (-2%)	10mo	$195,000	$95	77
635 Cleveland St	0.37mi	4/2.0	2,180 (+4%)	3mo	$175,000	$80	73
221 Pine St	0.26mi	3/2.5 (-1)	2,148 (+3%)	12mo	$298,500	$139	66
439 E Madison St	0.33mi	4/2.5	2,254 (+8%)	4mo	$342,000	$152	66
442 Longmeadow Cir	0.38mi	4/2.0	1,899 (-9%)	2mo	$242,000	$127	66
420 Madison St E	0.35mi	4/2.0	2,065 (-1%)	22mo	$349,800	$169	63
265 Mimosa Dr	0.49mi	4/2.0	1,970 (-6%)	13mo	$187,500	$95	57
555 E College St	0.24mi	3/2.0 (-1)	1,964 (-6%)	22mo	$200,000	$102	56
801 Yokley Ln	0.23mi	3/2.0 (-1)	1,934 (-7%)	19mo	$350,000	$181	56
434 Highland Ave	0.32mi	3/2.0 (-1)	2,363 (+13%)	16mo	$415,000	$176	45
540 Cleveland St	0.37mi	4/1.0	1,788 (-14%)	13mo	$239,000	$134	44

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: -11.2%
• Equity multiple: 0.59×
• Total profit: $-19,308
• Equity at exit: $25,333

10-year hold

• IRR: -2.0%
• Equity multiple: 0.87×
• Total profit: $-6,396
• Equity at exit: $14,690

Cash invested: $47,572 (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 38478

• Home prices YoY: -12.7%
• Active inventory: 186
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,478 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$76 /mo · $907/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $130

Break-even live

Break-even rent $1,313

Max offer price $169,900

Occupancy floor 86%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $169,900 Active 120 DOM
2. 2026-06-17
   days on market $169,900 Active 119 DOM
3. 2026-06-16
   days on market $169,900 Active 118 DOM
4. 2026-06-15
   days on market $169,900 Active 117 DOM
5. 2026-06-13
   days on market $169,900 Active 115 DOM
6. 2026-06-12
   days on market $169,900 Active 114 DOM
7. 2026-06-09
   days on market $169,900 Active 111 DOM
8. 2026-06-09
   status $169,900 Active 110 DOM
9. 2026-06-08
   days on market $169,900 Active Under Contract 110 DOM
10. 2026-06-08
    days on market $169,900 Active Under Contract 109 DOM
11. 2026-06-03
    days on market $169,900 Active Under Contract 105 DOM
12. 2026-06-02
    days on market $169,900 Active Under Contract 104 DOM
13. 2026-06-01
    days on market $169,900 Active Under Contract 103 DOM
14. 2026-05-31
    days on market $169,900 Active Under Contract 102 DOM
15. 2026-02-18
    listed $169,900 Active
16. 2026-02-18
    listed $169,900 Active
17. 2000-02-29
    soldstatus $45,000

ⓘ 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: $907 · $76/mo
• Projected year-2 tax: $1,206 · $101/mo
• Expected delta: +$299/yr (+$25/mo · 33.0%)

ⓘ 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 5/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,733
• − Mortgage interest: −$9,517
• − Property taxes: −$907
• − Insurance: −$850
• − Repairs & maintenance: −$1,419
• − Management: −$1,419
• − Depreciation: −$4,943
• Taxable loss: −$1,320
• Est. tax savings @ 24.0%: +$317
• After-tax cash flow: $1,878/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: Giles County
• NCES district ID: 4701410
• Math proficiency: 20% ▼ -18.00%
• Reading proficiency: 24% ▼ -7.00%
• Median HH income: $40,318
• Composite: 18.63/100
• National rank: #8895
• State rank: #105 of 139 in TN

Livability — Pulaski

• Score: 64/100
• State rank: #174
• US rank: #14586

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pulaski, TN
• Population (ZIP): 18,756

Population outlook (Giles County) Hauer SSP2

• Today (2025): 28,505 people
• By 2030: 27,960 · -1.9%
• By 2040: 26,740 · -6.2%
• By 2050: 25,665 · -10.0%
• By 2075: 24,798 · -13.0%
• By 2100: 25,524 · -10.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 11% Two or more races 7% Hispanic / Latino 4%
• Common ancestry: Serbian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Giles

• 2024 margin: Solid R (+55.0) · D 22.1% · R 77.1%
• 2008→2024 swing: -35.4pp toward R · 2008: -19.6pp · 2024: -55.0pp
• All cycles: 2024: R+55.0 2020: R+49.1 2016: R+45.4 2012: R+29.2 2008: R+19.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.60%
• Current HPI: 319.6315
• 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

+277.6% since first listed

3 events — show timeline

• 2026-02-18 Listed $169,900 REALTRACS as Distributed by MLS Grid
• 2026-02-18 Listed $169,900 REALTRACS as Distributed by MLS Grid
• 2000-02-29 Sold (Public Records) $45,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $907 · +13.4% YoY. Source: county tax records.