310 S Union St · Bolivar, TN 38008

$99,900

None bd · 32.0 ba · 1,600 sqft · MultiFamily · 150 Days on market

Built 1938 Fair condition 6,300 sqft lot $62/sqft · 83% below area ↓ 14% since listing

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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 +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great turn-key investment opportunity at 310 S Union St, Bolivar, TN. This duplex features one bedroom units with steady rental income of $575 and $595 per month. Ideal for investors looking for immediate cash flow in a convenient location close to local amenities. Low-maintenance property with strong rental demand—add this one to your portfolio today. Can be purchased with other properties for an even better deal!

Key facts

• 6,300 sq ft lot
• 2 parking spots
• Built 1938

🏷️ Possibly a rental listed for sale. The $99,900 price doesn't fit this home's estimated sale value (~$597,769) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1-bath units multifamily listed at $100k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $503 ($6k/yr) — positive. Per door: $252/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 52/100 on livability (#397 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: health & safety C-, schools F, crime F.
• Hardeman County Schools (rural): math 11% / reading 16% proficiency, ranked #133 of 139 in TN (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 57 active listings in the ZIP; 43 units permitted in Hardeman County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Hardeman County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.51% ✓
• Cap rate: 12.34%
• Cash-on-cash: 21.59%
• DSCR: 1.96
• GRM: 5.5

CMA / ARV

• ARV (median comp): $597,769
• List price: $99,900
• Delta: -83.29%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
510 Johnson St St	0.66mi	—/—	1,800 (+12%)	24mo	$605,000	$336	29
511 Johnson St	0.63mi	6/4.0	1,800 (+12%)	21mo	$575,000	$319	12

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: 14.2%
• Equity multiple: 1.57×
• Total profit: $15,890
• Equity at exit: $14,895

10-year hold

• IRR: 23.0%
• Equity multiple: 2.97×
• Total profit: $55,206
• Equity at exit: $8,638

Cash invested: $27,972 (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 38008

• Home prices YoY: -11.4%
• Active inventory: 57
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,511 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $503

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 62%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,510
Total (2 units)			$1,511

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-09
   days on market $99,900 Active 150 DOM
2. 2026-06-08
   days on market $99,900 Active 149 DOM
3. 2026-06-08
   days on market $99,900 Active 148 DOM
4. 2026-06-03
   days on market $99,900 Active 144 DOM
5. 2026-06-02
   days on market $99,900 Active 143 DOM
6. 2026-06-01
   pricedays on market $99,900 Active 142 DOM
7. 2026-05-31
   days on market $102,000 Active 141 DOM
8. 2026-04-20
   price $102,000 424-char remark

   Show marketing remark (424 chars)

   Great turn-key investment opportunity at 310 S Union St, Bolivar, TN. This duplex features one bedroom units with steady rental income of $575 and $595 per month. Ideal for investors looking for immediate cash flow in a convenient location close to local amenities. Low-maintenance property with strong rental demand—add this one to your portfolio today. Can be purchased with other properties for an even better deal!

9. 2026-03-23
   price $104,000 424-char remark

   Show marketing remark (424 chars)

   Great turn-key investment opportunity at 310 S Union St, Bolivar, TN. This duplex features one bedroom units with steady rental income of $575 and $595 per month. Ideal for investors looking for immediate cash flow in a convenient location close to local amenities. Low-maintenance property with strong rental demand—add this one to your portfolio today. Can be purchased with other properties for an even better deal!

10. 2026-03-18
    price $106,000 424-char remark

    Show marketing remark (424 chars)

    Great turn-key investment opportunity at 310 S Union St, Bolivar, TN. This duplex features one bedroom units with steady rental income of $575 and $595 per month. Ideal for investors looking for immediate cash flow in a convenient location close to local amenities. Low-maintenance property with strong rental demand—add this one to your portfolio today. Can be purchased with other properties for an even better deal!

11. 2026-03-07
    price $108,000 424-char remark

    Show marketing remark (424 chars)

    Great turn-key investment opportunity at 310 S Union St, Bolivar, TN. This duplex features one bedroom units with steady rental income of $575 and $595 per month. Ideal for investors looking for immediate cash flow in a convenient location close to local amenities. Low-maintenance property with strong rental demand—add this one to your portfolio today. Can be purchased with other properties for an even better deal!

12. 2026-02-27
    price $110,000 424-char remark

    Show marketing remark (424 chars)

    Great turn-key investment opportunity at 310 S Union St, Bolivar, TN. This duplex features one bedroom units with steady rental income of $575 and $595 per month. Ideal for investors looking for immediate cash flow in a convenient location close to local amenities. Low-maintenance property with strong rental demand—add this one to your portfolio today. Can be purchased with other properties for an even better deal!

13. 2026-01-08
    listed $119,000 Active 424-char remark

    Show marketing remark (424 chars)

    Great turn-key investment opportunity at 310 S Union St, Bolivar, TN. This duplex features one bedroom units with steady rental income of $575 and $595 per month. Ideal for investors looking for immediate cash flow in a convenient location close to local amenities. Low-maintenance property with strong rental demand—add this one to your portfolio today. Can be purchased with other properties for an even better deal!

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥110°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,132
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,451
• − Management: −$1,451
• − Depreciation: −$2,906
• Taxable income: $4,731
• Est. tax owed @ 24.0%: −$1,135
• After-tax cash flow: $4,904/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 · 1 photo

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations to the kitchen and bathrooms, but has a good roof and exterior. Painting the interior walls and updating these areas would greatly enhance its rental and resale value.

Repairs flagged

• Major kitchen — No photos of kitchen
• Major bathrooms — No photos of bathrooms
• Major flooring — No photos of flooring
• Major interior walls/paint — No photos of interior walls/paint

Value-add opportunities

• Rental paint interior walls — Fresh paint can improve the appearance and appeal of the property
• Both update kitchen and bathrooms — Modernizing these areas can significantly increase both rental income and resale value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen · No photos of kitchen	Major	$15,000–50,000
bathrooms · No photos of bathrooms	Major	$15,000–50,000
flooring · No photos of flooring	Major	$15,000–50,000
interior walls/paint · No photos of interior walls/paint	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Rental paint interior walls — Fresh paint can improve the appearance and appeal of the property ↑
• Both update kitchen and bathrooms — Modernizing these areas can significantly increase both rental income and resale 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: Hardeman County Schools
• NCES district ID: 4701650
• Math proficiency: 11% ▼ -11.00%
• Reading proficiency: 16% ▼ -6.00%
• Median HH income: $33,190
• Composite: 10.9/100
• National rank: #9754
• State rank: #133 of 139 in TN

Livability — Bolivar

• Score: 52/100
• State rank: #397
• US rank: #24758

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bolivar, TN
• City population: 9,351
• Population (ZIP): 9,351

Population outlook (Hardeman County) Hauer SSP2

• Today (2025): 23,629 people
• By 2030: 22,413 · -5.1%
• By 2040: 19,910 · -15.7%
• By 2050: 17,692 · -25.1%
• By 2075: 13,532 · -42.7%
• By 2100: 10,178 · -56.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (59%)
• Race & ethnicity: Black 59% White 35% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Italian 1%
• Foreign-born: 0%

Political lean MEDSL · Hardeman

• 2024 margin: Strong R (+24.1) · D 37.5% · R 61.6%
• 2008→2024 swing: -30.3pp toward R · 2008: 6.2pp · 2024: -24.1pp
• All cycles: 2024: R+24.1 2020: R+15.7 2016: R+8.0 2012: D+5.9 2008: D+6.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -31.15%
• Current HPI: 241.1615
• 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

-14.3% since first listed

6 events — show timeline

• 2026-04-20 Price Changed $102,000 CWTAR
• 2026-03-23 Price Changed $104,000 CWTAR
• 2026-03-18 Price Changed $106,000 CWTAR
• 2026-03-07 Price Changed $108,000 CWTAR
• 2026-02-27 Price Changed $110,000 CWTAR
• 2026-01-08 Listed $119,000 CWTAR