110 Shannon Rd · Leoma, TN 38468

$104,900

2 bd · 1.0 ba · 1,680 sqft · Manufactured public records · 63 Days on market

Built 1943 0.58 ac lot

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Why this score? — see what drove the B- 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 +24.9/30.0
• Appreciation +10.0/10.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks

2 bedroom 1 bath home, on . 58 acre lot, in quiet country setting. Home is being sold AS-IS. Cash or conventional loan only.

Key facts

• 0.58 acre lot
• Built 1943
• Listed 63 days

Property features AI

Exterior

• Parking: No covered spaces; No dedicated parking listed
• Utilities: Water: Other; Sewer: Septic tank
• Home design: Single-family residence; One story; Residential property
• Construction: Vinyl siding
• Exterior features: Approximately 0.58-acre lot

Interior

• Kitchen: Oven; Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating (type: Other); Wall/window cooling units
• Interior features: Crawl space basement; Vinyl flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $105k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $99k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Lawrence County (rural): math 29% / reading 29% proficiency, ranked #67 of 139 in TN (top 48%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Leoma Elementary (math 26% / reading 23%, grade F, #546 of 952 statewide, top 61%, 538 students, 0% FRL); Lawrence Co High School (math 26% / reading 23%, grade F, #129 of 332 statewide, top 43%, 1,143 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 39 active listings in the ZIP; 27 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($725 loan paydown + $10k appreciation (10.0% local appreciation)).
• Lawrence County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $45k; list at $105k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $98,606 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1943 — 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. 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.
6. 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.
7. 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: 1.05% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.24%
• DSCR: 1.41
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.0%
• Equity multiple: 3.43×
• Total profit: $71,505
• Equity at exit: $94,502

10-year hold

• IRR: 26.8%
• Equity multiple: 7.78×
• Total profit: $199,170
• Equity at exit: $203,798

Cash invested: $29,372 (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 38468

• Home prices YoY: 6.5%
• Active inventory: 39
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,098 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$47 /mo · $567/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $226

Break-even live

Break-even rent $811

Max offer price $104,900

Occupancy floor 74%

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   price $104,900 Active 63 DOM
2. 2026-06-18
   days on market $109,900 Active 63 DOM
3. 2026-06-17
   days on market $109,900 Active 62 DOM
4. 2026-06-16
   days on market $109,900 Active 61 DOM
5. 2026-06-15
   days on market $109,900 Active 60 DOM
6. 2026-06-13
   days on market $109,900 Active 58 DOM
7. 2026-06-12
   days on market $109,900 Active 57 DOM
8. 2026-06-09
   days on market $109,900 Active 54 DOM
9. 2026-06-08
   days on market $109,900 Active 53 DOM
10. 2026-06-08
    days on market $109,900 Active 52 DOM
11. 2026-06-07
    days on market $109,900 Active 51 DOM
12. 2026-06-03
    days on market $109,900 Active 48 DOM
13. 2026-06-02
    days on market $109,900 Active 47 DOM
14. 2026-06-01
    days on market $109,900 Active 46 DOM
15. 2026-05-31
    days on market $109,900 Active 45 DOM
16. 2026-05-04
    price $114,900
17. 2026-04-16
    listed $119,900 Active
18. 2018-12-28
    soldstatus $45,000
19. 2001-03-16
    soldstatus $38,000
20. 2001-03-16
    soldstatus $38,000

ⓘ 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: $567 · $47/mo
• Projected year-2 tax: $745 · $62/mo
• Expected delta: +$178/yr (+$15/mo · 31.4%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,174
• − Mortgage interest: −$5,876
• − Property taxes: −$567
• − Insurance: −$524
• − Repairs & maintenance: −$1,054
• − Management: −$1,054
• − Depreciation: −$3,052
• Taxable income: $1,047
• Est. tax owed @ 24.0%: −$251
• After-tax cash flow: $2,463/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: Lawrence County
• NCES district ID: 4702340
• Math proficiency: 29% ▼ -11.00%
• Reading proficiency: 29% ▼ -8.00%
• Median HH income: $37,613
• Composite: 24.2/100
• National rank: #7729
• State rank: #67 of 139 in TN

Livability — Leoma

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 5,442

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 42,724 people
• By 2030: 42,627 · -0.2%
• By 2040: 42,144 · -1.4%
• By 2050: 40,800 · -4.5%
• By 2075: 36,643 · -14.2%
• By 2100: 29,193 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Slovak 2% Italian 1%
• Foreign-born: 0%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+69.1) · D 15.1% · R 84.1%
• 2008→2024 swing: -35.3pp toward R · 2008: -33.7pp · 2024: -69.1pp
• All cycles: 2024: R+69.1 2020: R+64.8 2016: R+61.3 2012: R+42.9 2008: R+33.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 20.65%
• Current HPI: 337.0314
• 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

+202.4% since first listed

5 events — show timeline

• 2026-05-04 Price Changed $114,900 REALTRACS as Distributed by MLS Grid
• 2026-04-16 Listed $119,900 REALTRACS as Distributed by MLS Grid
• 2018-12-28 Sold (Public Records) $45,000 Public Records
• 2001-03-16 Sold (Public Records) $38,000 Public Records
• 2001-03-16 Sold (Public Records) $38,000 Public Records

Property tax history

+10.7%/yr

Latest (2025): $567 · +0.0% YoY. Source: county tax records.