6618 3rd St

Eagleville, TN 37046

$350,000C

2 bd · 2.0 ba · 1,440 sqft · Built 1967 · SingleFamily · Active · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,081/mo
• Mortgage (P&I): −$1,835
• Tax + insurance: −$238
• HOA: −$0
• Vac / Maint / Mgmt: −$647
• Net cashflow: $360/mo
• Annual: $4,318/yr
• Cap rate: 7.53%
• Cash-on-cash: 4.41%
• DSCR: 1.20
• 1% rule: 0.88%
• Cash to close: $98,000

Investor read

• This is a 2-bed/2.0-bath single-family listed at $350k.
• At list price, monthly cash flow is $360 ($4k/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 $308k (12.0% below list).
• It's been on market 45 days — a 3% lower offer ($340k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $308k (12.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#92 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: crime C-, health & safety C-, amenities F.
• Williamson County (rural): math 58% / reading 59% proficiency, ranked #1 of 139 in TN (top 1%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 9% free/reduced lunch — higher-income household profile.
• Zoned schools: College Grove Elementary (math 72% / reading 59%, grade B+, #37 of 952 statewide, top 4%, 768 students, 0% FRL); Spring Station Middle School (math 45% / reading 44%, grade D, #30 of 333 statewide, top 9%, 828 students, 0% FRL); Fred J Page High School (math 17% / reading 69%, grade F, #20 of 332 statewide, top 6%, 1,284 students, 0% FRL).
• Market conditions: 220 active listings in the ZIP; 1,994 units permitted in Williamson County in 2024 (637 in 5+ unit buildings).
• Williamson County population projected at +59% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.5% vs local median 0.2% in Eagleville — 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.

Questions for listing agent

• It's been on market 45 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.