7008 Brittney Cir

Baxter, TN 38544

$2,049C-

3 bd · 2.0 ba · 1,588 sqft · Built 2007 · SingleFamily · Active · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,215/mo
• Mortgage (P&I): −$11
• Tax + insurance: −$3
• HOA: −$0
• Vac / Maint / Mgmt: −$255
• Net cashflow: $945/mo
• Annual: $11,344/yr
• Cap rate: 559.92%
• Cash-on-cash: 1977.22%
• DSCR: 88.98
• 1% rule: 59.27%
• Cash to close: $574

Investor read

• This is a 3-bed/2.0-bath single-family listed at $2k.
• At list price, monthly cash flow is $945 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $2k).
• It's been on market 46 days — a 3% lower offer ($2k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $2k (3.0% below list) — sets the bar for market timing.
• In year one you build about $219 of equity ($14 loan paydown + $205 appreciation (10.0% local appreciation)).
• Location reads 66/100 on livability (#131 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, employment D, schools F.
• Putnam County (town): math 32% / reading 31% proficiency, ranked #49 of 139 in TN (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 200 active listings in the ZIP; 700 units permitted in Putnam County in 2024 (48 in 5+ unit buildings).
• Putnam County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 19y ago; this cycle's ask has dropped $126 (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $574 cash investment doubles in ~1 year — after that, you're playing with house money.
• 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.
• Cap rate 559.9% vs local median 1.8% in Baxter — 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

• It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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?
• 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.
• 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.