6004 Elliott Ct

Nolensville, TN 37014

$1,315,893C

6 bd · 5.0 ba · 4,780 sqft · Built 2026 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $11,900/mo
• Mortgage (P&I): −$6,901
• Tax + insurance: −$2,193
• HOA: −$55
• Vac / Maint / Mgmt: −$2,499
• Net cashflow: $252/mo
• Annual: $3,026/yr
• Cap rate: 6.52%
• Cash-on-cash: 0.82%
• DSCR: 1.04
• 1% rule: 0.90%
• Cash to close: $368,450

Investor read

• This is a 6-bed/5.0-bath single-family listed at $1.32M. Condition is rated poor.
• At list price, monthly cash flow is $252 ($3k/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 $1.19M (9.6% below list).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $1.19M (9.6% below list) — sets the bar for 1% rule.
• In year one you build about $95k of equity ($9k loan paydown + $86k appreciation (6.5% local appreciation)).
• Location reads 79/100 on livability (#2 in TN, #2,317 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities D+, commute F, cost of living 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: Sunset Elementary School (math 62% / reading 57%, grade B-, #60 of 952 statewide, top 7%, 623 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: 124 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• At projected returns (6.5% appreciation + 3.0% rent growth), your $368k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$152k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 6.5% vs local median 2.2% in Nolensville — 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Blueprints show a brick exterior, but the actual exterior is not visible in the photos.
• Major: interior walls — Blueprints show interior wall designs, but the actual interior walls are not visible in the photos.
• Major: HVAC/mechanicals — Blueprints show HVAC and mechanical systems, but the actual systems are not visible in the photos.
• Major: landscaping — Blueprints show landscaping plans, but the actual landscaping is not visible in the photos.