1980 Mason Hall Kenton Rd

Kenton, TN 38233

$19,900D+

2 bd · 1.0 ba · 904 sqft · Built 1920 · SingleFamily · Active · 151 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $872/mo
• Mortgage (P&I): −$104
• Tax + insurance: −$25
• HOA: −$0
• Vac / Maint / Mgmt: −$183
• Net cashflow: $560/mo
• Annual: $6,717/yr
• Cap rate: 40.04%
• Cash-on-cash: 120.54%
• DSCR: 6.36
• 1% rule: 4.38%
• Cash to close: $5,572

Investor read

• This is a 2-bed/1.0-bath single-family listed at $20k.
• At list price, monthly cash flow is $560 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($872 rent vs $20k).
• It's been on market 151 days — a 12% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $18k (12.0% below list) — sets the bar for market timing.
• In year one you build about $257 of equity ($138 loan paydown + $119 appreciation (0.6% local appreciation)).
• Location reads 58/100 on livability (#309 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B; Watch: health & safety C-, employment D, schools F.
• Obion County (rural): math 40% / reading 37% proficiency, ranked #17 of 139 in TN (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 15 active listings in the ZIP; 21 units permitted in Obion County in 2024 (0 in 5+ unit buildings).
• Obion County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $15k (43%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $6k; list at $20k implies a 232% gain — meaningful room to come down on a strong offer.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 151 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• 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.
• 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.