1099-1101 N 1st St · Milan, TN 38358

$135,000

None bd · None ba · 1,320 sqft · MultiFamily · 42 Days on market

Built 1954 Fair condition 9,800 sqft lot

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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 +26.3/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Great investment opportunity! This cash-flowing duplex offers immediate income and solid rental history. Perfect for investors looking to grow their portfolio.

Key facts

• 9,800 sq ft lot
• 2 parking spots
• Built 1954

Property features AI

Finance

• Financial info: Unit rent example listed at $675; Annual tax noted

Exterior

• Parking: Carport with 2 spaces; Total of 2 parking spaces
• Utilities: Public water; Public sewer
• Home design: Duplex residential income property; Single-story
• Exterior features: Lot approximately 70 x 140

Interior

• Interior features: One-level units

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $135k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $350 ($4k/yr) — positive. Per door: $175/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#78 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools D-, crime F, amenities F.
• Milan (rural): math 36% / reading 26% proficiency, ranked #55 of 139 in TN (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 81 active listings in the ZIP; 155 units permitted in Gibson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Gibson County population projected to shrink 8% 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 $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 9.40%
• Cash-on-cash: 11.11%
• DSCR: 1.49
• GRM: 6.9

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: 0.3%
• Equity multiple: 1.01×
• Total profit: $441
• Equity at exit: $20,129

10-year hold

• IRR: 10.0%
• Equity multiple: 1.77×
• Total profit: $29,188
• Equity at exit: $11,672

Cash invested: $37,800 (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 38358

• Home prices YoY: -24.4%
• Active inventory: 81
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $1,624 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $350

Break-even live

Break-even rent $1,181

Max offer price $135,000

Occupancy floor 73%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,624
Total (2 units)			$1,624

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $135,000 Active 42 DOM
2. 2026-06-17
   days on market $135,000 Active 41 DOM
3. 2026-06-16
   days on market $135,000 Active 40 DOM
4. 2026-06-15
   days on market $135,000 Active 39 DOM
5. 2026-06-13
   days on market $135,000 Active 37 DOM
6. 2026-06-12
   days on market $135,000 Active 36 DOM
7. 2026-06-09
   days on market $135,000 Active 33 DOM
8. 2026-06-08
   days on market $135,000 Active 32 DOM
9. 2026-06-08
   days on market $135,000 Active 31 DOM
10. 2026-06-07
    days on market $135,000 Active 30 DOM
11. 2026-06-03
    days on market $135,000 Active 27 DOM
12. 2026-06-02
    days on market $135,000 Active 26 DOM
13. 2026-06-01
    days on market $135,000 Active 25 DOM
14. 2026-05-31
    days on market $135,000 Active 24 DOM
15. 2026-05-07
    listed $135,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% 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: $19,488
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$1,559
• − Management: −$1,559
• − Depreciation: −$3,927
• Taxable income: $2,181
• Est. tax owed @ 24.0%: −$523
• After-tax cash flow: $3,677/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab

This two-unit property requires moderate repairs and maintenance, particularly in the exterior and landscaping, to improve its resale and rental value.

Repairs flagged

• Moderate exterior paint — Visible wear and discoloration
• Minor fencing — Some wear

Value-add opportunities

• Both landscaping — Improves curb appeal and rental value
• Both exterior paint — Enhances home's appearance and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Visible wear and discoloration	Moderate	$3,000–15,000
fencing · Some wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both landscaping — Improves curb appeal and rental value ↑
• Both exterior paint — Enhances home's appearance and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Milan
• NCES district ID: 4702970
• Math proficiency: 36% ▼ -16.00%
• Reading proficiency: 26% ▼ -11.00%
• Median HH income: $36,434
• Composite: 25.79/100
• National rank: #7365
• State rank: #55 of 139 in TN

Livability — Milan

• Score: 68/100
• State rank: #78
• US rank: #9084

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milan, TN
• City population: 12,511
• Population (ZIP): 12,511

Population outlook (Gibson County) Hauer SSP2

• Today (2025): 48,793 people
• By 2030: 48,221 · -1.2%
• By 2040: 46,793 · -4.1%
• By 2050: 44,909 · -8.0%
• By 2075: 40,191 · -17.6%
• By 2100: 33,574 · -31.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 17% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Iranian 2% Romanian 2%
• Foreign-born: 2% · Canada

Political lean MEDSL · Gibson

• 2024 margin: Solid R (+52.0) · D 23.6% · R 75.5%
• 2008→2024 swing: -23.2pp toward R · 2008: -28.8pp · 2024: -52.0pp
• All cycles: 2024: R+52.0 2020: R+47.0 2016: R+43.8 2012: R+32.1 2008: R+28.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.28%
• Current HPI: 208.8671
• 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

1 event — show timeline

• 2026-05-07 Listed $135,000 CWTAR