115 Cherry St

Camden, TN 38320

$85,000B-

5 bd · 1.0 ba · 3,644 sqft · Built 1900 · SingleFamily · Active · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,829/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$79
• HOA: −$0
• Vac / Maint / Mgmt: −$384
• Net cashflow: $920/mo
• Annual: $11,037/yr
• Cap rate: 19.28%
• Cash-on-cash: 46.38%
• DSCR: 3.06
• 1% rule: 2.15%
• Cash to close: $23,800

Investor read

• This is a 5-bed/1.0-bath single-family listed at $85k.
• At list price, monthly cash flow is $920 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• It's been on market 39 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#133 in TN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, employment D, amenities F.
• Benton County (town): math 31% / reading 28% proficiency, ranked #66 of 139 in TN (top 48%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Briarwood School (math 38% / reading 34%, grade F, #305 of 952 statewide, top 32%, 381 students, 0% FRL); Camden Central High School (math 8% / reading 37%, grade F, #156 of 332 statewide, top 49%, 521 students, 0% FRL) — zoned schools average 0% FRL vs 54% district-wide (54 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 112 active listings in the ZIP; 6 units permitted in Benton County in 2024 (0 in 5+ unit buildings).
• Benton County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $34k; list at $85k implies a 146% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/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 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.