911 28th St SE · Cleveland, TN 37323

$215,000

3 bd · 1.0 ba · 1,100 sqft · SingleFamily public records

Built 1964 1.00 ac lot Est $233k · 8% under

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Why this score? — see what drove the F 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 +11.0/15.0
• Cash flow +7.4/30.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• DSCR +1.6/10.0
• 1% rule +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Make your appointment today to view this conveniently located, one level home with many improvements! Fresh interior paint, new flooring, new windows, refreshed bathroom with new tub, appealing kitchen sink, newly installed front exterior door, sheetrock and ductwork with new HVAC motor! This home offers a separate detached bonus space (all seasons), it would make a wonderful mancave, entertain area or home office, or space for your hobbies. The large back yard is completely fenced with a deck and pool, summer fun awaits! The sellers recently replaced the pool liner. Call for your private showing and start enjoying all this home has to offer! Pool table, security cameras & shed to remain. Cameras and audio may be in use.

Key facts

• 1 acre lot
• Pool
• Built 1964

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-274 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (22.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (39.3% below list).
• Recommended offer: $131k (39.3% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 3.5% in Cleveland — 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 70/100 on livability (#55 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools D, employment D, crime F.
• Cleveland (urban): math 23% / reading 28% proficiency, ranked #85 of 139 in TN (top 61%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 372 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 768 units permitted in Bradley 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 $6k of value loss. Plan a longer hold.
• Bradley County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,610 (39.3% 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. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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?
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: 0.61% ✗
• Cap rate: 4.76%
• Cash-on-cash: -5.47%
• DSCR: 0.76
• GRM: 13.7

CMA / ARV

• ARV (on-the-fly): $233,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
908 28th St SE	0.03mi	3/2.0	1,120 (+2%)	3mo	$269,900	$241	89
802 Cedar Dr SE	0.15mi	2/2.0 (-1)	1,150 (+4%)	3mo	$180,000	$157	74
508 Hannah Drive Dr	0.36mi	3/2.0	1,066 (-3%)	6mo	$2,000	$2	70
2860 Mcdaris Cir SE	0.53mi	3/2.5	1,104 (+0%)	8mo	$270,000	$245	62
630 Cedar Dr SE	0.26mi	3/2.0	1,248 (+14%)	3mo	$264,550	$212	59
2215 Buchanan Rd SE	0.61mi	3/2.0	1,140 (+4%)	5mo	$225,000	$197	58
2903 Dixie Dr SE	0.51mi	3/1.5	1,008 (-8%)	6mo	$145,000	$144	56
3024 Ginger Circle Dr SE	0.32mi	3/2.0	1,262 (+15%)	1mo	$299,000	$237	56
2651 Rogers Dr SE	0.42mi	3/2.0	1,261 (+15%)	3mo	$259,900	$206	49
1435 Timber Hill Ln SE	0.75mi	3/1.0	972 (-12%)	2mo	$257,000	$264	44
516 Linda Dr SE	0.44mi	2/2.0 (-1)	1,264 (+15%)	3mo	$233,500	$185	43
3411 Buchanan Rd SE	0.67mi	3/2.0	1,230 (+12%)	6mo	$314,900	$256	39

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: -25.7%
• Equity multiple: 0.13×
• Total profit: $-52,407
• Equity at exit: $32,057

10-year hold

• IRR: -22.4%
• Equity multiple: -0.14×
• Total profit: $-68,508
• Equity at exit: $18,589

Cash invested: $60,200 (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 37323

• Home prices YoY: -23.5%
• Active inventory: 372
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $1,306 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$89 /mo · $1,070/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $-274

Break-even live

Break-even rent $1,653

Max offer price $166,525

Occupancy floor —

Sensitivity live

Price	-10% $-153	-5% $-214	+0% $-274	+5% $-335	+10% $-396
Rent	-10% $-378	-5% $-326	+0% $-274	+5% $-223	+10% $-171
Rate	-1.0pp $-166	-0.5pp $-220	base $-274	+0.5pp $-330	+1.0pp $-387

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3099 Buchanan Rd SE Cleveland, TN	2.0	2.0	981	$885	$0.90	44d	1	0.44mi
2417 Rodney Dr Unit 1 Cleveland, TN	2.0	1.0	928	$995	$1.07	44d	1	1.07mi
330 Baldwin St SE Cleveland, TN	2.0	1.5	900	$1,050	$1.17	44d	1	1.07mi

Listing history 15 events

1. 2023-08-14
   soldstatus $218,000
2. 2023-08-11
   soldstatus $218,000 Closed 739-char remark

   Show marketing remark (739 chars)

   Make your appointment today to view this conveniently located, one level home with many improvements! Fresh interior paint, new flooring, new windows, refreshed bathroom with new tub, appealing kitchen sink, newly installed front exterior door, sheetrock and ductwork with new HVAC motor! This home offers a separate detached bonus space (all seasons), it would make a wonderful mancave, entertain area or home office, or space for your hobbies. The large back yard is completely fenced with a deck and pool, summer fun awaits! The sellers recently replaced the pool liner. Call for your private showing and start enjoying all this home has to offer! Pool table, security cameras & shed to remain. Cameras and audio may be in use.

3. 2023-07-13
   historical Contingent 739-char remark

   Show marketing remark (739 chars)

   Make your appointment today to view this conveniently located, one level home with many improvements! Fresh interior paint, new flooring, new windows, refreshed bathroom with new tub, appealing kitchen sink, newly installed front exterior door, sheetrock and ductwork with new HVAC motor! This home offers a separate detached bonus space (all seasons), it would make a wonderful mancave, entertain area or home office, or space for your hobbies. The large back yard is completely fenced with a deck and pool, summer fun awaits! The sellers recently replaced the pool liner. Call for your private showing and start enjoying all this home has to offer! Pool table, security cameras & shed to remain. Cameras and audio may be in use.

4. 2023-07-13
   historical

   Show marketing remark (739 chars)

   Make your appointment today to view this conveniently located, one level home with many improvements! Fresh interior paint, new flooring, new windows, refreshed bathroom with new tub, appealing kitchen sink, newly installed front exterior door, sheetrock and ductwork with new HVAC motor! This home offers a separate detached bonus space (all seasons), it would make a wonderful mancave, entertain area or home office, or space for your hobbies. The large back yard is completely fenced with a deck and pool, summer fun awaits! The sellers recently replaced the pool liner. Call for your private showing and start enjoying all this home has to offer! Pool table, security cameras & shed to remain. Cameras and audio may be in use.

5. 2023-07-08
   price $215,000 739-char remark

   Show marketing remark (739 chars)

   Make your appointment today to view this conveniently located, one level home with many improvements! Fresh interior paint, new flooring, new windows, refreshed bathroom with new tub, appealing kitchen sink, newly installed front exterior door, sheetrock and ductwork with new HVAC motor! This home offers a separate detached bonus space (all seasons), it would make a wonderful mancave, entertain area or home office, or space for your hobbies. The large back yard is completely fenced with a deck and pool, summer fun awaits! The sellers recently replaced the pool liner. Call for your private showing and start enjoying all this home has to offer! Pool table, security cameras & shed to remain. Cameras and audio may be in use.

6. 2023-06-15
   listed $230,000 Active 739-char remark

   Show marketing remark (739 chars)

   Make your appointment today to view this conveniently located, one level home with many improvements! Fresh interior paint, new flooring, new windows, refreshed bathroom with new tub, appealing kitchen sink, newly installed front exterior door, sheetrock and ductwork with new HVAC motor! This home offers a separate detached bonus space (all seasons), it would make a wonderful mancave, entertain area or home office, or space for your hobbies. The large back yard is completely fenced with a deck and pool, summer fun awaits! The sellers recently replaced the pool liner. Call for your private showing and start enjoying all this home has to offer! Pool table, security cameras & shed to remain. Cameras and audio may be in use.

7. 2023-06-15
   listed $215,000

   Show marketing remark (739 chars)

   Make your appointment today to view this conveniently located, one level home with many improvements! Fresh interior paint, new flooring, new windows, refreshed bathroom with new tub, appealing kitchen sink, newly installed front exterior door, sheetrock and ductwork with new HVAC motor! This home offers a separate detached bonus space (all seasons), it would make a wonderful mancave, entertain area or home office, or space for your hobbies. The large back yard is completely fenced with a deck and pool, summer fun awaits! The sellers recently replaced the pool liner. Call for your private showing and start enjoying all this home has to offer! Pool table, security cameras & shed to remain. Cameras and audio may be in use.

8. 2018-09-11
   soldstatus $119,900
9. 2018-09-07
   soldstatus $119,900 253-char remark

   Show marketing remark (253 chars)

   Come home to this move-in ready, well maintained 3BR / 1.5BA home with large covered front porch, fenced yard, above ground pool with nice deck for entertaining and SO much more! Priced to sell and won't last long! Make your appointment to see it today!

10. 2018-09-07
    soldstatus $119,900

    Show marketing remark (253 chars)

    Come home to this move-in ready, well maintained 3BR / 1.5BA home with large covered front porch, fenced yard, above ground pool with nice deck for entertaining and SO much more! Priced to sell and won't last long! Make your appointment to see it today!

11. 2018-08-02
    listed $119,900 253-char remark

    Show marketing remark (253 chars)

    Come home to this move-in ready, well maintained 3BR / 1.5BA home with large covered front porch, fenced yard, above ground pool with nice deck for entertaining and SO much more! Priced to sell and won't last long! Make your appointment to see it today!

12. 2018-07-20
    listed $119,900
13. 2010-04-05
    soldstatus $73,000
14. 1991-08-15
    soldstatus $39,900
15. 1976-01-01
    soldstatus $22,500

ⓘ 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: $1,070 · $89/mo
• Projected year-2 tax: $1,526 · $127/mo
• Expected delta: +$456/yr (+$38/mo · 42.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% 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: $15,673
• − Mortgage interest: −$12,043
• − Property taxes: −$1,070
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,254
• − Management: −$1,254
• − Depreciation: −$6,255
• Taxable loss: −$7,277
• Est. tax savings @ 24.0%: +$1,747
• After-tax cash flow: $-1,546/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: Cleveland
• NCES district ID: 4700690
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 28% ▼ -6.00%
• Median HH income: $37,612
• Composite: 21.28/100
• National rank: #8394
• State rank: #85 of 139 in TN

Livability — Cleveland

• Score: 70/100
• State rank: #55
• US rank: #7689

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cleveland, TN
• County: Bradley County · 99,337 people
• City population: 99,337
• Metro: Cleveland, TN
• Population (ZIP): 31,948
• Household income: $68,768
• Rent vs Own: 19.7% rent · 80.3% own
• Severe rent burden: 371.0

Population outlook (Bradley County) Hauer SSP2

• Today (2025): 114,901 people
• By 2030: 120,137 · +4.6%
• By 2040: 130,125 · +13.2%
• By 2050: 139,257 · +21.2%
• By 2075: 161,664 · +40.7%
• By 2100: 179,767 · +56.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 7% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Subsaharan African 2% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% Russian/Polish/Slavic 2%

Political lean MEDSL · Bradley

• 2024 margin: Solid R (+58.9) · D 20.0% · R 78.9% · Other 1.1%
• 2008→2024 swing: -9.2pp toward R · 2008: -49.7pp · 2024: -58.9pp
• All cycles: 2024: R+58.9 2020: R+55.3 2016: R+59.1 2012: R+53.9 2008: R+49.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.38%
• Current HPI: 287.3643
• Rent YoY: —
• Metro: Cleveland, 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

+868.9% since first listed

15 events — show timeline

• 2023-08-14 Sold (Public Records) $218,000 Public Records
• 2023-08-11 Sold (MLS) $218,000 GCAR
• 2023-07-13 Contingent — GCAR
• 2023-07-13 Delisted — RCAOR
• 2023-07-08 Price Changed $215,000 GCAR
• 2023-06-15 Listed $230,000 GCAR
• 2023-06-15 Listed $215,000 RCAOR
• 2018-09-11 Sold (Public Records) $119,900 Public Records
• 2018-09-07 Sold (MLS) $119,900 RCAOR
• 2018-09-07 Sold (MLS) $119,900 REALTRACS as Distributed by MLS Grid
• 2018-08-02 Listed $119,900 REALTRACS as Distributed by MLS Grid
• 2018-07-20 Listed $119,900 RCAOR
• 2010-04-05 Sold (Public Records) $73,000 Public Records
• 1991-08-15 Sold (Public Records) $39,900 Public Records
• 1976-01-01 Sold (Public Records) $22,500 Public Records

Property tax history

+7.9%/yr

Latest (2025): $1,070 · +28.6% YoY. Source: county tax records.