744 W Main St · Watertown, TN 37184

$249,900

3 bd · 2.0 ba · 1,092 sqft · Manufactured public records · 55 Days on market

Built 1988 0.90 ac lot $229/sqft · 13% below area Est $291k · 14% under

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Why this score? — see what drove the C- 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).

• ARV discount +13.9/15.0
• Cash flow +12.1/30.0
• Appreciation +10.0/10.0
• Schools +3.8/10.0
• Livability +3.7/5.0
• DSCR +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0

Listing remarks MLS

This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

Key facts

• Main street location
• Fresh paint
• New gutters

Tags

• MAIN STREET LOCATION
• FRESH PAINT
• NEW GUTTERS
• WELL MAINTAINED

Property features AI

Exterior

• Parking: Detached parking; Carport for 2 vehicles; 2 covered parking spaces (2 total spaces)
• Utilities: Public water; Public sewer; Water available
• Home design: Residential modular home; One story
• Construction: Wood siding exterior; Metal roof; Existing structure
• Exterior features: Porch; Covered porch; Deck; Partial fencing; Sloped lot

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: 3 bedrooms (all on main level); Bedroom sizes approximately 11x12, 8x10, and 9x11
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Electric oven and electric range; Refrigerator; Crawl space basement
• Laundry & utility: Washer hookup; Electric dryer hookup; Utility room (approx. 7x5)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $250k.

Deal economics

• At list price, monthly cash flow is $-53 ($-636/yr) — negative.
• To cash-flow at today's rent, offer at most $241k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (28.0% below list).
• Recommended offer: $180k (28.0% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 2.9% in Watertown — 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 73/100 on livability (#21 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Wilson County (rural): math 42% / reading 43% proficiency, ranked #10 of 139 in TN (top 7%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Watertown Elementary (math 50% / reading 49%, grade D, #119 of 952 statewide, top 14%, 577 students, 0% FRL); Watertown High School (math 8% / reading 37%, grade F, #156 of 332 statewide, top 49%, 680 students, 0% FRL) — zoned schools average 0% FRL vs 25% district-wide (25 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 45 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,927 units permitted in Wilson County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Wilson County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $30k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $158k; list at $250k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $180,000 (28.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.72% ✗
• Cap rate: 6.04%
• Cash-on-cash: -0.91%
• DSCR: 0.96
• GRM: 11.6

CMA / ARV

• ARV (median comp): $291,333
• List price: $249,900
• Delta: -14.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
236 Cornwell Ave	0.46mi	3/2.0	1,120 (+3%)	3mo	$235,000	$210	72
460 Old Statesville Rd	0.44mi	3/2.0	1,200 (+10%)	11mo	$210,000	$175	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 23.6%
• Equity multiple: 2.90×
• Total profit: $132,601
• Equity at exit: $225,130

10-year hold

• IRR: 21.0%
• Equity multiple: 6.61×
• Total profit: $392,888
• Equity at exit: $485,501

Cash invested: $69,972 (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 37184

• Home prices YoY: 4.0%
• Active inventory: 45
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$60 /mo · $724/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $-53

Break-even live

Break-even rent $1,867

Max offer price $240,544

Occupancy floor 98%

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
308 Elm Ave Watertown, TN	3.0	2.0	1272	$1,800	$1.42	17d	1	0.74mi

Listing history 37 events

1. 2026-06-18
   days on market $249,900 Active 55 DOM
2. 2026-06-17
   days on market $249,900 Active 54 DOM
3. 2026-06-16
   days on market $249,900 Active 53 DOM
4. 2026-06-15
   days on market $249,900 Active 52 DOM
5. 2026-06-13
   days on market $249,900 Active 50 DOM
6. 2026-06-09
   days on market $249,900 Active 46 DOM
7. 2026-06-08
   pricedays on market $249,900 Active 45 DOM
8. 2026-06-07
   days on market $279,900 Active 44 DOM
9. 2026-06-02
   days on market $279,900 Active 39 DOM
10. 2026-06-01
    days on market $279,900 Active 38 DOM
11. 2026-05-31
    days on market $279,900 Active 37 DOM
12. 2026-04-24
    listed $279,900 Active 219-char remark
13. 2023-12-08
    soldstatus $158,000
14. 2023-12-07
    soldstatus $158,000 Closed 238-char remark

    Show marketing remark (238 chars)

    This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

15. 2023-12-01
    status Pending 238-char remark

    Show marketing remark (238 chars)

    This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

16. 2023-11-24
    status Active 238-char remark

    Show marketing remark (238 chars)

    This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

17. 2023-11-19
    historical Active Under Contract 238-char remark

    Show marketing remark (238 chars)

    This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

18. 2023-11-06
    listed $195,900 Active 238-char remark

    Show marketing remark (238 chars)

    This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

19. 2023-11-01
    historical

    Show marketing remark (238 chars)

    This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

20. 2023-10-26
    price $195,500

    Show marketing remark (238 chars)

    This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

21. 2023-10-16
    price $199,900

    Show marketing remark (238 chars)

    This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

22. 2023-10-05
    status Active

    Show marketing remark (238 chars)

    This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

23. 2023-10-05
    price $215,000

    Show marketing remark (238 chars)

    This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

24. 2023-08-02
    historical Active Under Contract

    Show marketing remark (238 chars)

    This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

25. 2023-07-28
    price $169,900

    Show marketing remark (238 chars)

    This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

26. 2023-07-11
    price $180,000

    Show marketing remark (238 chars)

    This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

27. 2023-06-01
    price $225,000

    Show marketing remark (238 chars)

    This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

28. 2023-04-20
    price $195,950

    Show marketing remark (238 chars)

    This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

29. 2023-04-07
    price $197,970

    Show marketing remark (238 chars)

    This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

30. 2023-03-28
    status Active

    Show marketing remark (238 chars)

    This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

31. 2023-03-10
    historical Active Under Contract

    Show marketing remark (238 chars)

    This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

32. 2023-03-03
    price $199,990

    Show marketing remark (238 chars)

    This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

33. 2023-02-21
    price $210,000

    Show marketing remark (238 chars)

    This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

34. 2023-02-14
    listed $219,000 Active

    Show marketing remark (238 chars)

    This property has an approved FHA appraisal, and can quick close with lender approval. This has new plumbing, fresh paint and carpet, nice tiled upgrades, ready for your family. Owner is ready to SELL to the first offer at asking price!

35. 2022-03-16
    soldstatus $450,000
36. 2009-09-04
    soldstatus $55,000
37. 2000-05-04
    soldstatus $52,000

ⓘ 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: $724 · $60/mo
• Projected year-2 tax: $1,774 · $148/mo
• Expected delta: +$1,050/yr (+$88/mo · 145.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,600
• − Mortgage interest: −$13,998
• − Property taxes: −$724
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$7,270
• Taxable loss: −$5,098
• Est. tax savings @ 24.0%: +$1,223
• After-tax cash flow: $588/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: Wilson County
• NCES district ID: 4704550
• Math proficiency: 42% ▼ -11.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $68,429
• Composite: 38.33/100
• National rank: #4225
• State rank: #10 of 139 in TN

Livability — Watertown

• Score: 73/100
• State rank: #21
• US rank: #5029

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Watertown, TN
• Population (ZIP): 7,224

Population outlook (Wilson County) Hauer SSP2

• Today (2025): 160,409 people
• By 2030: 176,099 · +9.8%
• By 2040: 206,769 · +28.9%
• By 2050: 235,383 · +46.7%
• By 2075: 302,144 · +88.4%
• By 2100: 343,710 · +114.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Black 3% Two or more races 2% Asian 1%
• Common ancestry: Lithuanian 2% Romanian 1% Iranian 1%
• Foreign-born: 1% · Philippines
• Languages at home: 98% English-only · Other Asian/Pacific 1% German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Wilson

• 2024 margin: Solid R (+40.1) · D 29.4% · R 69.4% · Other 1.2%
• 2008→2024 swing: -3.5pp toward R · 2008: -36.6pp · 2024: -40.1pp
• All cycles: 2024: R+40.1 2020: R+37.7 2016: R+44.3 2012: R+41.6 2008: R+36.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.35%
• Current HPI: 425.096
• 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

+380.6% since first listed

27 events — show timeline

• 2026-06-08 Price Changed $249,900 REALTRACS as Distributed by MLS Grid
• 2026-04-24 Listed $279,900 REALTRACS as Distributed by MLS Grid
• 2023-12-08 Sold (Public Records) $158,000 Public Records
• 2023-12-07 Sold (MLS) $158,000 REALTRACS as Distributed by MLS Grid
• 2023-12-01 Pending — REALTRACS as Distributed by MLS Grid
• 2023-11-24 Relisted — REALTRACS as Distributed by MLS Grid
• 2023-11-19 Contingent — REALTRACS as Distributed by MLS Grid
• 2023-11-06 Listed $195,900 REALTRACS as Distributed by MLS Grid
• 2023-11-01 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2023-10-26 Price Changed $195,500 REALTRACS as Distributed by MLS Grid
• 2023-10-16 Price Changed $199,900 REALTRACS as Distributed by MLS Grid
• 2023-10-05 Relisted — REALTRACS as Distributed by MLS Grid
• 2023-10-05 Price Changed $215,000 REALTRACS as Distributed by MLS Grid
• 2023-08-02 Contingent — REALTRACS as Distributed by MLS Grid
• 2023-07-28 Price Changed $169,900 REALTRACS as Distributed by MLS Grid
• 2023-07-11 Price Changed $180,000 REALTRACS as Distributed by MLS Grid
• 2023-06-01 Price Changed $225,000 REALTRACS as Distributed by MLS Grid
• 2023-04-20 Price Changed $195,950 REALTRACS as Distributed by MLS Grid
• 2023-04-07 Price Changed $197,970 REALTRACS as Distributed by MLS Grid
• 2023-03-28 Relisted — REALTRACS as Distributed by MLS Grid
• 2023-03-10 Contingent — REALTRACS as Distributed by MLS Grid
• 2023-03-03 Price Changed $199,990 REALTRACS as Distributed by MLS Grid
• 2023-02-21 Price Changed $210,000 REALTRACS as Distributed by MLS Grid
• 2023-02-14 Listed $219,000 REALTRACS as Distributed by MLS Grid
• 2022-03-16 Sold (Public Records) $450,000 Public Records
• 2009-09-04 Sold (Public Records) $55,000 Public Records
• 2000-05-04 Sold (Public Records) $52,000 Public Records

Property tax history

+6.3%/yr

Latest (2025): $724 · +0.0% YoY. Source: county tax records.