139 Fairhaven Dr

Fairfield Glade, TN 38558

$264,900D

3 bd · 2.0 ba · 1,288 sqft · Built 1996 · SingleFamily · Active · 104 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,037/mo
• Mortgage (P&I): −$1,389
• Tax + insurance: −$159
• HOA: −$125
• Vac / Maint / Mgmt: −$428
• Net cashflow: $-63/mo
• Annual: $-760/yr
• Cap rate: 6.01%
• Cash-on-cash: -1.02%
• DSCR: 0.95
• 1% rule: 0.77%
• Cash to close: $74,172

Investor read

• This is a 3-bed/2.0-bath single-family listed at $265k.
• At list price, monthly cash flow is $-63 ($-760/yr) — negative.
• To cash-flow at today's rent, offer at most $254k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (23.1% below list).
• It's been on market 104 days — a 9% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $204k (23.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-2.1%/yr); year-one equity from $2k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#249 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: amenities F, commute F, health & safety F.
• Cumberland County (rural): math 30% / reading 31% proficiency, ranked #59 of 139 in TN (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Stone Elementary (math 29% / reading 29%, grade F, #461 of 952 statewide, top 49%, 624 students, 0% FRL); Stone Memorial High School (math 19% / reading 45%, grade F, #56 of 332 statewide, top 20%, 1,031 students, 0% FRL) — zoned schools average 0% FRL vs 56% district-wide (56 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 596 active listings in the ZIP; 114 units permitted in Cumberland County in 2024 (0 in 5+ unit buildings).
• Cumberland County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 6 sale attempts since 25y 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 $128k; list at $265k implies a 107% gain — meaningful room to come down on a strong offer.
• Cap rate 6.0% vs local median 2.2% in Fairfield Glade — 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 104 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.