321 Leonard St · Greeneville, TN 37745

$30,000

2 bd · 1.0 ba · 672 sqft · SingleFamily public records · 1 Days on market

Built 1930 6,534 sqft 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special with endless potential located conveniently within the city limits of Greeneville! This property offers an excellent opportunity for investors, builders, or buyers looking for an affordable project. Existing home is in need of extensive repairs, but the possibilities are endless. Renovate the current structure, build a new site-built home, or place a doublewide with a permanent foundation. The property also offers a nice blend of wooded surroundings, providing added privacy and a peaceful setting while still being close to shopping, schools, restaurants, and local amenities. Opportunities like this are hard to find, and listings like this do not last long! Don't miss your chance to create value and make this property your next project or investment opportunity. All information taken from a third-party source (courthouse/tax records) and to be verified by the buyer/buyer's agent. Drawn in lines are approximate. Taxes to be assessed.

Key facts

• Wooded surroundings
• Close to schools
• Close to restaurants

Tags

• WOODED SURROUNDINGS
• ADDED PRIVACY
• PEACEFUL SETTING
• CLOSE TO SHOPPING
• CLOSE TO SCHOOLS
• CLOSE TO RESTAURANTS

Property features AI

Finance

• Other: Zoning: R3; Subdivision: Highland Add; Lot dimensions approximately 50 x 128 (0.15 acres)

Exterior

• Utilities: Cable available; Electricity available; Sewer available; Water available
• Home design: Single-family house; One story; Property listed as Residential (Single Family Residence); Property condition: Fixer
• Construction: Built with block and wood siding (also other materials); Block foundation
• Exterior features: Metal roof; Cleared, sloped, and wooded lot

Interior

• Bedrooms: Total of 3 rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $634 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Cap rate 31.7% vs local median 2.7% in Greeneville — 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 66/100 on livability (#125 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Greeneville (town): math 31% / reading 34% proficiency, ranked #45 of 139 in TN (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Highland Elementary (math 12% / reading 22%, grade F, #709 of 952 statewide, top 77%, 159 students, 0% FRL); Greeneville Middle School (math 28% / reading 26%, grade F, #128 of 333 statewide, top 40%, 571 students, 0% FRL); Greeneville High School (math 42% / reading 55%, grade D, #13 of 332 statewide, top 4%, 958 students, 0% FRL) — zoned schools average 0% FRL vs 42% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 224 active listings in the ZIP; 333 units permitted in Greene County in 2024 (72 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $900 of value loss. Plan a longer hold.
• Greene County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $25k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,000

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 3.50% ✓
• Cap rate: 31.66%
• Cash-on-cash: 90.61%
• DSCR: 5.03
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $126,336
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
605 Black Oak St	0.24mi	2/1.0	660 (-2%)	20mo	$175,000	$265	69
406 Banks St	0.09mi	1/1.0 (-1)	621 (-8%)	13mo	$69,900	$113	67
620 Irish St	0.36mi	2/1.0	646 (-4%)	14mo	$165,000	$255	65
210 Baxter St	0.26mi	2/1.0	612 (-9%)	19mo	$134,900	$220	57
206 Broyles St	0.63mi	2/1.0	594 (-12%)	1mo	$55,000	$93	51
102 Sycamore St	0.68mi	2/1.0	640 (-5%)	12mo	$120,000	$188	51
104 Clem St	0.72mi	2/1.0	750 (+12%)	22mo	$128,000	$171	28

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

Projected returns pro-forma

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

5-year hold

• IRR: 91.3%
• Equity multiple: 5.23×
• Total profit: $35,545
• Equity at exit: $4,473

10-year hold

• IRR: 94.2%
• Equity multiple: 10.88×
• Total profit: $83,008
• Equity at exit: $2,594

Cash invested: $8,400 (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 37745

• Home prices YoY: -6.0%
• Active inventory: 224
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,052 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$27 /mo · $319/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $634

Break-even live

Break-even rent $249

Max offer price $30,000

Occupancy floor 35%

Sensitivity live

Price	-10% $651	-5% $643	+0% $634	+5% $626	+10% $617
Rent	-10% $551	-5% $593	+0% $634	+5% $676	+10% $717
Rate	-1.0pp $649	-0.5pp $642	base $634	+0.5pp $627	+1.0pp $619

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-23
   status Pending 962-char remark

   Show marketing remark (962 chars)

   Investor special with endless potential located conveniently within the city limits of Greeneville! This property offers an excellent opportunity for investors, builders, or buyers looking for an affordable project. Existing home is in need of extensive repairs, but the possibilities are endless. Renovate the current structure, build a new site-built home, or place a doublewide with a permanent foundation. The property also offers a nice blend of wooded surroundings, providing added privacy and a peaceful setting while still being close to shopping, schools, restaurants, and local amenities. Opportunities like this are hard to find, and listings like this do not last long! Don't miss your chance to create value and make this property your next project or investment opportunity. All information taken from a third-party source (courthouse/tax records) and to be verified by the buyer/buyer's agent. Drawn in lines are approximate. Taxes to be assessed.

2. 2026-05-23
   status Pending

   Show marketing remark (962 chars)

   Investor special with endless potential located conveniently within the city limits of Greeneville! This property offers an excellent opportunity for investors, builders, or buyers looking for an affordable project. Existing home is in need of extensive repairs, but the possibilities are endless. Renovate the current structure, build a new site-built home, or place a doublewide with a permanent foundation. The property also offers a nice blend of wooded surroundings, providing added privacy and a peaceful setting while still being close to shopping, schools, restaurants, and local amenities. Opportunities like this are hard to find, and listings like this do not last long! Don't miss your chance to create value and make this property your next project or investment opportunity. All information taken from a third-party source (courthouse/tax records) and to be verified by the buyer/buyer's agent. Drawn in lines are approximate. Taxes to be assessed.

3. 2026-05-22
   listed $30,000 Active 962-char remark

   Show marketing remark (962 chars)

   Investor special with endless potential located conveniently within the city limits of Greeneville! This property offers an excellent opportunity for investors, builders, or buyers looking for an affordable project. Existing home is in need of extensive repairs, but the possibilities are endless. Renovate the current structure, build a new site-built home, or place a doublewide with a permanent foundation. The property also offers a nice blend of wooded surroundings, providing added privacy and a peaceful setting while still being close to shopping, schools, restaurants, and local amenities. Opportunities like this are hard to find, and listings like this do not last long! Don't miss your chance to create value and make this property your next project or investment opportunity. All information taken from a third-party source (courthouse/tax records) and to be verified by the buyer/buyer's agent. Drawn in lines are approximate. Taxes to be assessed.

4. 2026-05-22
   listed $30,000 Active

   Show marketing remark (962 chars)

   Investor special with endless potential located conveniently within the city limits of Greeneville! This property offers an excellent opportunity for investors, builders, or buyers looking for an affordable project. Existing home is in need of extensive repairs, but the possibilities are endless. Renovate the current structure, build a new site-built home, or place a doublewide with a permanent foundation. The property also offers a nice blend of wooded surroundings, providing added privacy and a peaceful setting while still being close to shopping, schools, restaurants, and local amenities. Opportunities like this are hard to find, and listings like this do not last long! Don't miss your chance to create value and make this property your next project or investment opportunity. All information taken from a third-party source (courthouse/tax records) and to be verified by the buyer/buyer's agent. Drawn in lines are approximate. Taxes to be assessed.

5. 2025-07-25
   soldstatus $25,000 Closed 857-char remark

   Show marketing remark (857 chars)

   Unlock the possibilities with this versatile property in the heart of Greeneville! Conveniently located near Highland Elementary and just minutes from downtown, this sloping, partially wooded lot offers a blend of privacy and city convenience. The existing structure presents a prime opportunity�renovate to create your dream home or start fresh with a brand-new build. The choice is yours! Enjoy easy access to shopping, dining, and all the amenities of city living. Imagine the potential and schedule a tour today! The structure on the property may be unsafe to enter. A Release and Hold Harmless Agreement is required to be submitted before any showing request can be approved. Drawn in property lines are approximate. Personal property in the house conveys, the car on the property does not convey. Buyer and/or buyer's agent to verify all information.

6. 2025-05-08
   historical Active Under Contract 857-char remark

   Show marketing remark (857 chars)

   Unlock the possibilities with this versatile property in the heart of Greeneville! Conveniently located near Highland Elementary and just minutes from downtown, this sloping, partially wooded lot offers a blend of privacy and city convenience. The existing structure presents a prime opportunity�renovate to create your dream home or start fresh with a brand-new build. The choice is yours! Enjoy easy access to shopping, dining, and all the amenities of city living. Imagine the potential and schedule a tour today! The structure on the property may be unsafe to enter. A Release and Hold Harmless Agreement is required to be submitted before any showing request can be approved. Drawn in property lines are approximate. Personal property in the house conveys, the car on the property does not convey. Buyer and/or buyer's agent to verify all information.

7. 2025-03-12
   listed $29,999 Active 857-char remark

   Show marketing remark (857 chars)

   Unlock the possibilities with this versatile property in the heart of Greeneville! Conveniently located near Highland Elementary and just minutes from downtown, this sloping, partially wooded lot offers a blend of privacy and city convenience. The existing structure presents a prime opportunity�renovate to create your dream home or start fresh with a brand-new build. The choice is yours! Enjoy easy access to shopping, dining, and all the amenities of city living. Imagine the potential and schedule a tour today! The structure on the property may be unsafe to enter. A Release and Hold Harmless Agreement is required to be submitted before any showing request can be approved. Drawn in property lines are approximate. Personal property in the house conveys, the car on the property does not convey. Buyer and/or buyer's agent to verify all information.

ⓘ 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: $319 · $27/mo
• Projected year-2 tax: $319 · $27/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 6 d/yr ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,618
• − Mortgage interest: −$1,680
• − Property taxes: −$319
• − Insurance: −$150
• − Repairs & maintenance: −$1,009
• − Management: −$1,009
• − Depreciation: −$873
• Taxable income: $7,577
• Est. tax owed @ 24.0%: −$1,818
• After-tax cash flow: $5,793/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: Greeneville
• NCES district ID: 4701500
• Math proficiency: 31% ▼ -15.00%
• Reading proficiency: 34% ▼ -7.00%
• Median HH income: $32,683
• Composite: 26.62/100
• National rank: #7176
• State rank: #45 of 139 in TN

Livability — Greeneville

• Score: 66/100
• State rank: #125
• US rank: #11825

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greeneville, TN
• County: Greene County · 45,638 people
• City population: 45,638
• Metro: Greeneville, TN
• Population (ZIP): 21,090
• Household income: $57,159
• Rent vs Own: 25.8% rent · 74.2% own
• Severe rent burden: 359.0

Population outlook (Greene County) Hauer SSP2

• Today (2025): 68,624 people
• By 2030: 68,114 · -0.7%
• By 2040: 66,167 · -3.6%
• By 2050: 63,038 · -8.1%
• By 2075: 55,274 · -19.5%
• By 2100: 45,527 · -33.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 8% Two or more races 5% Black 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Serbian 2% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% Chinese 1%

Political lean MEDSL · Greene

• 2024 margin: Solid R (+65.7) · D 16.6% · R 82.3% · Other 1.2%
• 2008→2024 swing: -25.0pp toward R · 2008: -40.7pp · 2024: -65.7pp
• All cycles: 2024: R+65.7 2020: R+60.7 2016: R+61.0 2012: R+46.0 2008: R+40.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.99%
• Current HPI: 295.4621
• Rent YoY: —
• Metro: Greeneville, TN
• 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

+0.0% since first listed

7 events — show timeline

• 2026-05-23 Pending — TVRMLS
• 2026-05-23 Pending — TVRMLS
• 2026-05-22 Listed $30,000 TVRMLS
• 2026-05-22 Listed $30,000 TVRMLS
• 2025-07-25 Sold (MLS) $25,000 TVRMLS
• 2025-05-08 Contingent — TVRMLS
• 2025-03-12 Listed $29,999 TVRMLS

Property tax history

+10.1%/yr

Latest (2025): $319 · +0.0% YoY. Source: county tax records.