400 Kelly Ln #1 · Pikeville, TN 37367

$199,000

2 bd · 2.0 ba · 1,120 sqft · SingleFamily · 4 Days on market

Built 2013 Good condition 2.37 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 +27.2/30.0
• Appreciation +10.0/10.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Condition / age +3.8/5.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +1.9/10.0

Listing remarks

Peaceful Country Living with Mtn Views! Escape to the beauty of the TN mountains with this charming 2-bedroom, 2 bath mobile home situated on 2.3 unrestricted acrres. Enjoy breathtaking mtn. views & the freedom to live the country lifestyle you've always wanted. The property is completely fenced, making it ideal for horses, goats, chickens, & other farm animals. You'll have the flexibility to create your own homestaed, hobby farm or private retreat without the restrictions. Additional features include: a detached garage, as well as a small shed for your livestock. Conveniently located between Pikeville & Dunlap, you'll enjoy the perfect balance of rural privacy & easy

Key facts

• Easy access
• Mtn views
• Small shed

Tags

• MTN VIEWS
• COMPLETELY FENCED
• DETACHED GARAGE
• SMALL SHED
• RURAL PRIVACY
• EASY ACCESS

Property features AI

Finance

• Other: Property suited for agricultural use or small farm; Lot approximately 2.37 acres (about 80 x 130)

Exterior

• Parking: Attached or detached garage with 2 garage spaces (garage faces side); 1-car carport; Driveway; Gravel parking surfaces
• Security: Smoke detectors
• Utilities: Public water; Sewer connected (septic tank); Electricity connected; Phone available
• Home design: Manufactured house; Single-family residence; One level; Permanent foundation; Vinyl siding; Asphalt shingle roof; Interior lot with mostly cleared, rolling pasture and few trees; County road frontage on a public maintained chip-and-seal road; Has a view
• Construction: Vinyl siding construction; Permanent foundation; Built with asphalt shingle roof
• Exterior features: Private yard; Rain gutters; Exterior storage; Covered front and rear porches; Porch; Cross-fenced, full perimeter fencing; Barn(s); Additional garage(s)/storage structure

Interior

• Kitchen: Refrigerator; Microwave; Free-standing electric range; Dishwasher; Eat-in kitchen; Accessible kitchen; Accessible kitchen appliances
• Bedrooms: Accessible bedroom; Master downstairs
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; Accessible full bath
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Cathedral ceilings; Ceiling fans; Open floor plan; Eat-in kitchen; Soaking tub; Walk-in closet(s); Master bedroom on main level; Window screens
• Laundry & utility: Laundry room with washer and dryer hookups; Electric dryer hookup; Washer hookup; Electric water heater; Accessible washer/dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $199k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $573 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Cap rate 9.7% vs local median 4.8% in Pikeville — 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 59/100 on livability (#296 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing B+; Watch: health & safety C-, amenities F, commute F.
• Bledsoe County (rural): math 19% / reading 27% proficiency, ranked #104 of 139 in TN (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Pikeville Elementary (math 27% / reading 32%, grade F, #423 of 952 statewide, top 48%, 415 students, 0% FRL); Bledsoe County Middle School (math 17% / reading 20%, grade F, #209 of 333 statewide, top 63%, 378 students, 0% FRL); Bledsoe County High School (math 2% / reading 32%, grade F, #215 of 332 statewide, top 67%, 483 students, 0% FRL) — zoned schools average 0% FRL vs 69% district-wide (69 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 155 active listings in the ZIP.
• At $2,466/mo this rent would consume 54% of the median local household income ($55k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Bledsoe County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.24% ✓
• Cap rate: 9.75%
• Cash-on-cash: 12.33%
• DSCR: 1.55
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 33.3%
• Equity multiple: 3.60×
• Total profit: $144,886
• Equity at exit: $179,275

10-year hold

• IRR: 28.8%
• Equity multiple: 8.14×
• Total profit: $398,061
• Equity at exit: $386,613

Cash invested: $55,720 (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 37367

• Home prices YoY: 34.5%
• Active inventory: 155
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,466 medium
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $573

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 72%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-15
   statusdays on market $199,000 Pending 4 DOM
2. 2026-06-14
   remarks 683-char remark
3. 2026-06-14
   listed $199,000 Active 3 DOM

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,587
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$2,367
• − Management: −$2,367
• − Depreciation: −$5,789
• Taxable income: $3,937
• Est. tax owed @ 24.0%: −$945
• After-tax cash flow: $5,926/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 · 13 photos

Good 75/100 Cosmetic rehab

This mobile home is in good condition with a good roof and exterior. It has a good kitchen and bathrooms, and the landscaping and curb appeal are good. Painting the exterior and windows would enhance its resale value.

Value-add opportunities

• Resale paint exterior — enhances curb appeal
• Resale paint windows — improves curb appeal
• Both landscaping — enhances curb appeal and adds value

Renovation cost estimate screening

Value-add ROI direction

• Resale paint exterior — enhances curb appeal ↑
• Resale paint windows — improves curb appeal ↑
• Both landscaping — enhances curb appeal and adds value ↑

ⓘ 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: Bledsoe County
• NCES district ID: 4700270
• Math proficiency: 19% ▼ -13.00%
• Reading proficiency: 27% ▼ -1.00%
• Median HH income: $35,901
• Composite: 19.02/100
• National rank: #8845
• State rank: #104 of 139 in TN

Livability — Pikeville

• Score: 59/100
• State rank: #296
• US rank: #20539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Bledsoe · 11,736 people
• Population (ZIP): 11,736
• Household income: $54,696
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 2.1

Population outlook (Bledsoe County) Hauer SSP2

• Today (2025): 18,085 people
• By 2030: 19,649 · +8.6%
• By 2040: 22,438 · +24.1%
• By 2050: 24,582 · +35.9%
• By 2075: 26,769 · +48.0%
• By 2100: 25,033 · +38.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Italian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Bledsoe

• 2024 margin: Solid R (+70.5) · D 14.4% · R 84.9%
• 2008→2024 swing: -36.0pp toward R · 2008: -34.5pp · 2024: -70.5pp
• All cycles: 2024: R+70.5 2020: R+65.2 2016: R+58.6 2012: R+40.3 2008: R+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 106.44%
• Current HPI: 415.344
• 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

• 2026-06-08 Listed $199,000 GCAR