0 Skylar Way -kirk Loop · Middleton, TN 38052

$750,000

None bd · None ba · 13,500 sqft · MultiFamily · 300 Days on market

Built 1991 Fair condition 8.43 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.5/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.1/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Increase your rental inventory!!! Unusual opportunity!!! Mobile home park, long established, with 15 units plus ADDITIONAL 3 ACRES INCLUDED IN SALES PRICE already zoned for mobile home park designation. Middleton draws tenants from Bolivar, Whiteville, and surrounding areas. Give me a call at 731 467 1133 for more information and/or to set up a viewing. Sales price includes 3 additional acres already zoned for mobile home parks

Key facts

• 15 units
• 3 acres included
• 8.43 acre lot

Tags

• 15 UNITS
• 3 ACRES INCLUDED
• ZONED FOR MOBILE HOME PARK

What this means for you Summary

Snapshot

• This is a multifamily listed at $750k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $5k ($56k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $750k).
• Recommended offer: $660k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#247 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: health & safety C-, schools F, crime F.
• Hardeman County Schools (rural): math 11% / reading 16% proficiency, ranked #133 of 139 in TN (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 40 active listings in the ZIP; 43 units permitted in Hardeman County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $73k of equity ($5k loan paydown + $68k appreciation (9.1% local appreciation)).
• Hardeman County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.1% appreciation + 3.0% rent growth), your $210k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$117k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 300 days — a 12% lower offer ($660k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe 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 $660,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 300 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 1.67% ✓
• Cap rate: 13.85%
• Cash-on-cash: 27.00%
• DSCR: 2.20
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

9.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 42.9%
• Equity multiple: 4.13×
• Total profit: $657,256
• Equity at exit: $624,484

10-year hold

• IRR: 37.7%
• Equity multiple: 9.06×
• Total profit: $1,692,673
• Equity at exit: $1,295,740

Cash invested: $210,000 (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 38052

• Home prices YoY: 2.7%
• Active inventory: 40
• Price-to-rent: 74.8×

Monthly cashflow live

• Estimated rent: $12,541 medium
• Mortgage (P&I): −$3,933
• Tax est. 1.5%: −$938 /mo · $11,250/yr
• Insurance: −$312
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,634
• Net cashflow: $4,658

Break-even live

Break-even rent $6,645

Max offer price $750,000

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 15× units	2	1	$12,540
Total (15 units)			$12,541

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: $187,500
• Closing costs: $22,500
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $750,000 Active 300 DOM
2. 2026-06-17
   days on market $750,000 Active 299 DOM
3. 2026-06-16
   days on market $750,000 Active 298 DOM
4. 2026-06-15
   days on market $750,000 Active 297 DOM
5. 2026-06-13
   days on market $750,000 Active 295 DOM
6. 2026-06-12
   days on market $750,000 Active 294 DOM
7. 2026-06-09
   days on market $750,000 Active 291 DOM
8. 2026-06-08
   days on market $750,000 Active 290 DOM
9. 2026-06-08
   days on market $750,000 Active 289 DOM
10. 2026-06-03
    days on market $750,000 Active 285 DOM
11. 2026-06-02
    days on market $750,000 Active 284 DOM
12. 2026-06-01
    days on market $750,000 Active 283 DOM
13. 2026-05-31
    days on market $750,000 Active 282 DOM
14. 2025-08-22
    listed $750,000 Active 433-char remark

    Show marketing remark (433 chars)

    Increase your rental inventory!!! Unusual opportunity!!! Mobile home park, long established, with 15 units plus ADDITIONAL 3 ACRES INCLUDED IN SALES PRICE already zoned for mobile home park designation. Middleton draws tenants from Bolivar, Whiteville, and surrounding areas. Give me a call at 731 467 1133 for more information and/or to set up a viewing. Sales price includes 3 additional acres already zoned for mobile home parks

ⓘ 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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥110°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $150,492
• − Mortgage interest: −$42,012
• − Property taxes: −$11,250
• − Insurance: −$4,548
• − Repairs & maintenance: −$12,039
• − Management: −$12,039
• − Depreciation: −$21,818
• Taxable income: $46,786
• Est. tax owed @ 24.0%: −$11,229
• After-tax cash flow: $44,666/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 · 11 photos

Fair 45/100 Moderate rehab

This mobile home park requires significant repairs and maintenance to improve its condition and value. Potential buyers should be aware of the extensive work needed.

Repairs flagged

• Major exterior paint — Peeling paint indicates significant wear
• Major roof — Aged roof may need replacement
• Major HVAC units — No visible units, likely in need of repair

Value-add opportunities

• Both paint exterior — Fresh paint would improve curb appeal and home value
• Both replace roof — A new roof would significantly increase the home's value
• Both repair HVAC — Functional HVAC would improve comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Peeling paint indicates significant wear	Major	$15,000–50,000
roof · Aged roof may need replacement	Major	$15,000–50,000
HVAC units · No visible units, likely in need of repair	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both paint exterior — Fresh paint would improve curb appeal and home value ↑
• Both replace roof — A new roof would significantly increase the home's value ↑
• Both repair HVAC — Functional HVAC would improve comfort and energy efficiency ↑

ⓘ 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: Hardeman County Schools
• NCES district ID: 4701650
• Math proficiency: 11% ▼ -11.00%
• Reading proficiency: 16% ▼ -6.00%
• Median HH income: $33,190
• Composite: 10.9/100
• National rank: #9754
• State rank: #133 of 139 in TN

Livability — Middleton

• Score: 61/100
• State rank: #247
• US rank: #17650

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Middleton, TN
• Population (ZIP): 3,566

Population outlook (Hardeman County) Hauer SSP2

• Today (2025): 23,629 people
• By 2030: 22,413 · -5.1%
• By 2040: 19,910 · -15.7%
• By 2050: 17,692 · -25.1%
• By 2075: 13,532 · -42.7%
• By 2100: 10,178 · -56.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 9% Asian 2% Hispanic / Latino 1% Two or more races 1%
• Common ancestry: Lithuanian 2% Italian 2% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Other Asian/Pacific 2% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Hardeman

• 2024 margin: Strong R (+24.1) · D 37.5% · R 61.6%
• 2008→2024 swing: -30.3pp toward R · 2008: 6.2pp · 2024: -24.1pp
• All cycles: 2024: R+24.1 2020: R+15.7 2016: R+8.0 2012: D+5.9 2008: D+6.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.05%
• Current HPI: 346.8825
• 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

• 2025-08-22 Listed $750,000 CWTAR