Hill V Modern Farmhouse Plan

Mount Juliet, TN 37122

$363,490F

4 bd · 3.5 ba · 2,688 sqft · Built — · SingleFamily · Active · 719 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,750/mo
• Mortgage (P&I): −$2,613
• Tax + insurance: −$831
• HOA: −$0
• Vac / Maint / Mgmt: −$577
• Net cashflow: $-1,272/mo
• Annual: $-15,261/yr
• Cap rate: 3.23%
• Cash-on-cash: -10.94%
• DSCR: 0.51
• 1% rule: 0.55%
• Cash to close: $139,538

Investor read

• This is a 4-bed/3.5-bath single-family listed at $363k. Condition is rated excellent.
• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $314k (13.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $275k (24.4% below list).
• It's been on market 719 days — a 12% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $275k (24.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#48 in TN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, health & safety 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: Elzie D Patton Elementary School (math 52% / reading 42%, grade D-, #139 of 952 statewide, top 16%, 469 students, 0% FRL); Mt. Juliet Middle School (math 41% / reading 36%, grade F, #49 of 333 statewide, top 15%, 1,022 students, 0% FRL); Mt. Juliet High School (math 20% / reading 49%, grade F, #41 of 332 statewide, top 15%, 1,633 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: Rents rising (+3.7%/yr); 1189 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 33d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,927 units permitted in Wilson County in 2024 (10 in 5+ unit buildings).
• Wilson County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

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 719 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.