263 Reeves St · Lexington, TN 38351

$60,000

3 bd · 1.0 ba · 1,110 sqft · SingleFamily public records · 32 Days on market

Built 1940 7,840 sqft 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
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property Sold "AS IS". NO Repairs Great Investment property opportunity

Key facts

• 7,840 sq ft lot
• Built 1940
• Listed 32 days

Property features AI

Finance

• HOA & community: Pets allowed

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Natural gas available; Water available
• Home design: Single-family residence; One story
• Construction: Frame construction; Approximate year built
• Exterior features: Lot approximately 0.18 acres; Lot dimensions about 80 x 98 x 80 x 100

Interior

• Kitchen: Cooktop
• Bedrooms: Three bedrooms (all on the main level)
• Flooring: Other
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Radiant heating; Wall/window air conditioning units
• Interior features: Cooktop; No basement; Other flooring
• Laundry & utility: Natural gas available

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $489 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.1% vs local median 2.7% in Lexington — 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 67/100 on livability (#96 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime D, amenities F, commute F.
• Lexington (town): math 31% / reading 26% proficiency, ranked #68 of 139 in TN (top 49%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Paul G. Caywood Elementary (math 31% / reading 26%, grade F, #472 of 952 statewide, top 50%, 623 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: 160 active listings in the ZIP; 27 units permitted in Henderson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Henderson County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $50k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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 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?
5. Crime grade is D 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. 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.
7. 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.
8. 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: 1.83% ✓
• Cap rate: 16.07%
• Cash-on-cash: 34.91%
• DSCR: 2.55
• GRM: 4.6

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: 30.4%
• Equity multiple: 2.27×
• Total profit: $21,396
• Equity at exit: $8,946

10-year hold

• IRR: 37.6%
• Equity multiple: 4.49×
• Total profit: $58,686
• Equity at exit: $5,188

Cash invested: $16,800 (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 38351

• Home prices YoY: -10.8%
• Active inventory: 160
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,098 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$39 /mo · $467/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $489

Break-even live

Break-even rent $479

Max offer price $60,000

Occupancy floor 50%

Sensitivity live

Price	-10% $523	-5% $506	+0% $489	+5% $472	+10% $455
Rent	-10% $402	-5% $445	+0% $489	+5% $532	+10% $575
Rate	-1.0pp $519	-0.5pp $504	base $489	+0.5pp $473	+1.0pp $457

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $60,000 Active 32 DOM
2. 2026-06-18
   days on market $60,000 Active 30 DOM
3. 2026-06-17
   days on market $60,000 Active 29 DOM
4. 2026-06-16
   days on market $60,000 Active 28 DOM
5. 2026-06-15
   days on market $60,000 Active 27 DOM
6. 2026-06-13
   days on market $60,000 Active 25 DOM
7. 2026-06-12
   days on market $60,000 Active 24 DOM
8. 2026-06-09
   days on market $60,000 Active 21 DOM
9. 2026-06-08
   days on market $60,000 Active 20 DOM
10. 2026-06-08
    days on market $60,000 Active 19 DOM
11. 2026-06-07
    days on market $60,000 Active 18 DOM
12. 2026-06-03
    days on market $60,000 Active 15 DOM
13. 2026-06-02
    days on market $60,000 Active 14 DOM
14. 2026-06-01
    days on market $60,000 Active 13 DOM
15. 2026-05-31
    days on market $60,000 Active 12 DOM
16. 2026-05-19
    listed $60,000 Active

    Show marketing remark (81 chars)

    Property Sold "AS IS". NO Repairs Great Investment property opportunity

17. 2026-05-19
    listed $60,000 Active 81-char remark

    Show marketing remark (81 chars)

    Property Sold "AS IS". NO Repairs Great Investment property opportunity

18. 2025-06-13
    price $69,000
19. 2025-06-06
    price $75,000
20. 2025-04-22
    price $79,000
21. 2025-03-13
    price $90,000
22. 2020-03-13
    soldstatus $50,000
23. 2020-03-13
    soldstatus $50,000
24. 2019-10-22
    listed $39,900
25. 2012-04-11
    soldstatus $4,600

ⓘ 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: $467 · $39/mo
• Projected year-2 tax: $467 · $39/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% 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: $13,173
• − Mortgage interest: −$3,361
• − Property taxes: −$467
• − Insurance: −$300
• − Repairs & maintenance: −$1,054
• − Management: −$1,054
• − Depreciation: −$1,745
• Taxable income: $5,192
• Est. tax owed @ 24.0%: −$1,246
• After-tax cash flow: $4,618/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: Lexington
• NCES district ID: 4702460
• Math proficiency: 31% ▼ -11.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $40,428
• Composite: 24.08/100
• National rank: #7758
• State rank: #68 of 139 in TN

Livability — Lexington

• Score: 67/100
• State rank: #96
• US rank: #10272

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lexington, TN
• City population: 17,958
• Population (ZIP): 17,958

Population outlook (Henderson County) Hauer SSP2

• Today (2025): 28,057 people
• By 2030: 27,730 · -1.2%
• By 2040: 26,664 · -5.0%
• By 2050: 25,081 · -10.6%
• By 2075: 20,747 · -26.1%
• By 2100: 15,603 · -44.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 10% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Italian 3% Serbian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Henderson

• 2024 margin: Solid R (+67.9) · D 15.8% · R 83.7%
• 2008→2024 swing: -25.0pp toward R · 2008: -42.9pp · 2024: -67.9pp
• All cycles: 2024: R+67.9 2020: R+64.1 2016: R+62.1 2012: R+48.8 2008: R+42.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -35.82%
• Current HPI: 297.0387
• 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

+1204.3% since first listed

10 events — show timeline

• 2026-05-19 Listed $60,000 REALTRACS as Distributed by MLS Grid
• 2026-05-19 Listed $60,000 CWTAR
• 2025-06-13 Price Changed $69,000 CWTAR
• 2025-06-06 Price Changed $75,000 CWTAR
• 2025-04-22 Price Changed $79,000 CWTAR
• 2025-03-13 Price Changed $90,000 CWTAR
• 2020-03-13 Sold (Public Records) $50,000 Public Records
• 2020-03-13 Sold (MLS) $50,000 CWTAR
• 2019-10-22 Listed $39,900 CWTAR
• 2012-04-11 Sold (Public Records) $4,600 Public Records

Property tax history

+0.8%/yr

Latest (2025): $467 · +0.0% YoY. Source: county tax records.