380 Morgan Johnston Cir NE · Cleveland, TN 37312

$230,000

3 bd · 1.5 ba · 1,149 sqft · SingleFamily public records · 23 Days on market

Built 1972 0.89 ac lot $200/sqft · 10% below area Est $255k · 10% under

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Why this score? — see what drove the D 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 +13.2/30.0
• ARV discount +12.0/15.0
• DSCR +4.0/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Starter Home. .. Full brick with Recent updates include Roof 1 year old, Unit 3 Years, New Carpeting, New lighting, Updated baths and new vinyl flooring as well. Living Room has a beautiful hardwood floor. If you want privacy its located on dead end with wooded rear lot almost 1 acre (. 89) This home comes with a refrigerator , range, washer and dryer. Ready to move right in. This location is convenient to all shopping, I75 and restaurants. A hidden gem, Come see for yourself.

Key facts

• Full brick
• Recent updates
• Updated baths

Tags

• FULL BRICK
• RECENT UPDATES
• UPDATED BATHS
• WOODED REAR LOT
• CONVENIENT TO SHOPPING

Property features AI

Finance

• Other: Lot size about 0.89 acres

Exterior

• Parking: Covered parking (1 space); Carport (1 space); Driveway; Concrete parking surface; Total 1 parking space
• Utilities: Public water; Septic tank; Electricity available; Water available
• Home design: Single family residence; Residential property; Three or more levels; Existing construction
• Construction: Brick construction; Shingle roof; Crawl space foundation; Built previously (existing)
• Exterior features: Deck; Porch; Wooded lot

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Wood flooring; Vinyl flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air; Other cooling
• Interior features: Ceiling fan(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-6 ($-69/yr) — negative.
• To cash-flow at today's rent, offer at most $229k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (25.5% below list).
• Recommended offer: $171k (25.5% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.5% in Cleveland — 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 70/100 on livability (#55 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment D, crime F, amenities F.
• Bradley County (other): math 35% / reading 34% proficiency, ranked #33 of 139 in TN (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Lee Elementary School (math 56% / reading 56%, grade C+, #82 of 952 statewide, top 9%, 513 students, 0% FRL); Ocoee Middle School (math 32% / reading 33%, grade F, #81 of 333 statewide, top 26%, 997 students, 0% FRL); Walker Valley High School (math 32% / reading 47%, grade F, #28 of 332 statewide, top 9%, 1,498 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents flat; 552 active listings in the ZIP; solid renter incomes; 768 units permitted in Bradley County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Bradley County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $230k implies a 229% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $171,318 (25.5% below list)

Questions for the listing agent

1. 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?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.74% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.11%
• DSCR: 1.00
• GRM: 11.2

CMA / ARV

• ARV (median comp): $255,247
• List price: $230,000
• Delta: -4.01%
• Verdict: FAIR
• Comps: 20 within 2.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
148 Quail Run NE	0.33mi	3/2.0	1,230 (+7%)	0mo	$290,000	$236	71
121 NE Robbie Ct	0.54mi	3/2.0	1,286 (+12%)	14mo	$299,000	$233	41
136 Bland Dr NE	0.69mi	3/2.0	1,290 (+12%)	18mo	$282,000	$219	30
137 NE Sells Ln	0.51mi	2/2.0 (-1)	1,000 (-13%)	22mo	$250,000	$250	29

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 · 0.15% rent growth · sell at horizon

5-year hold

• IRR: -19.3%
• Equity multiple: 0.34×
• Total profit: $-42,527
• Equity at exit: $34,294

10-year hold

• IRR: -18.2%
• Equity multiple: 0.12×
• Total profit: $-56,487
• Equity at exit: $19,886

Cash invested: $64,400 (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 37312

• Rents YoY: 0.1%
• Active inventory: 552
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,713 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$57 /mo · $686/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $-6

Break-even live

Break-even rent $1,720

Max offer price $228,987

Occupancy floor 95%

Sensitivity live

Price	-10% $124	-5% $59	+0% $-6	+5% $-71	+10% $-136
Rent	-10% $-141	-5% $-73	+0% $-6	+5% $62	+10% $130
Rate	-1.0pp $110	-0.5pp $53	base $-6	+0.5pp $-65	+1.0pp $-126

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $230,000 Active 23 DOM
2. 2026-06-19
   days on market $230,000 Active 21 DOM
3. 2026-06-18
   days on market $230,000 Active 20 DOM
4. 2026-06-17
   days on market $230,000 Active 19 DOM
5. 2026-06-16
   days on market $230,000 Active 18 DOM
6. 2026-06-15
   days on market $230,000 Active 17 DOM
7. 2026-06-14
   days on market $230,000 Active 15 DOM
8. 2026-06-13
   pricedays on market $230,000 Active 14 DOM
9. 2026-06-10
   days on market $245,000 Active 12 DOM

   Show marketing remark (487 chars)

   Great Starter Home. .. Full brick with Recent updates include Roof 1 year old, Unit 3 Years, New Carpeting, New lighting, Updated baths and new vinyl flooring as well. Living Room has a beautiful hardwood floor. If you want privacy its located on dead end with wooded rear lot almost 1 acre (. 89) This home comes with a refrigerator , range, washer and dryer. Ready to move right in. This location is convenient to all shopping, I75 and restaurants. A hidden gem, Come see for yourself.

10. 2026-06-09
    days on market $245,000 Active 11 DOM
11. 2026-06-08
    days on market $245,000 Active 10 DOM
12. 2026-06-07
    days on market $245,000 Active 9 DOM
13. 2026-06-05
    days on market $245,000 Active 6 DOM
14. 2026-06-02
    days on market $245,000 Active 4 DOM
15. 2026-06-01
    days on market $245,000 Active 3 DOM
16. 2026-05-31
    days on market $245,000 Active 2 DOM
17. 2026-01-21
    price $245,000 487-char remark

    Show marketing remark (487 chars)

    Great Starter Home. .. Full brick with Recent updates include Roof 1 year old, Unit 3 Years, New Carpeting, New lighting, Updated baths and new vinyl flooring as well. Living Room has a beautiful hardwood floor. If you want privacy its located on dead end with wooded rear lot almost 1 acre (. 89) This home comes with a refrigerator , range, washer and dryer. Ready to move right in. This location is convenient to all shopping, I75 and restaurants. A hidden gem, Come see for yourself.

18. 2026-01-21
    price $245,000 487-char remark

    Show marketing remark (487 chars)

    Great Starter Home. .. Full brick with Recent updates include Roof 1 year old, Unit 3 Years, New Carpeting, New lighting, Updated baths and new vinyl flooring as well. Living Room has a beautiful hardwood floor. If you want privacy its located on dead end with wooded rear lot almost 1 acre (. 89) This home comes with a refrigerator , range, washer and dryer. Ready to move right in. This location is convenient to all shopping, I75 and restaurants. A hidden gem, Come see for yourself.

19. 2025-12-02
    listed $250,000 Active 487-char remark

    Show marketing remark (487 chars)

    Great Starter Home. .. Full brick with Recent updates include Roof 1 year old, Unit 3 Years, New Carpeting, New lighting, Updated baths and new vinyl flooring as well. Living Room has a beautiful hardwood floor. If you want privacy its located on dead end with wooded rear lot almost 1 acre (. 89) This home comes with a refrigerator , range, washer and dryer. Ready to move right in. This location is convenient to all shopping, I75 and restaurants. A hidden gem, Come see for yourself.

20. 2025-11-29
    listed $250,000 Active 487-char remark

    Show marketing remark (487 chars)

    Great Starter Home. .. Full brick with Recent updates include Roof 1 year old, Unit 3 Years, New Carpeting, New lighting, Updated baths and new vinyl flooring as well. Living Room has a beautiful hardwood floor. If you want privacy its located on dead end with wooded rear lot almost 1 acre (. 89) This home comes with a refrigerator , range, washer and dryer. Ready to move right in. This location is convenient to all shopping, I75 and restaurants. A hidden gem, Come see for yourself.

21. 1996-10-15
    soldstatus $69,900
22. 1995-06-12
    soldstatus $54,200

ⓘ 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: $686 · $57/mo
• Projected year-2 tax: $1,633 · $136/mo
• Expected delta: +$947/yr (+$79/mo · 138.0%)

ⓘ 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 5/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,558
• − Mortgage interest: −$12,884
• − Property taxes: −$686
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,645
• − Management: −$1,645
• − Depreciation: −$6,691
• Taxable loss: −$4,142
• Est. tax savings @ 24.0%: +$994
• After-tax cash flow: $925/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: Bradley County
• NCES district ID: 4700330
• Math proficiency: 35% ▼ -5.00%
• Reading proficiency: 34% ▼ -2.00%
• Median HH income: $45,807
• Composite: 29.54/100
• National rank: #6494
• State rank: #33 of 139 in TN

Livability — Cleveland

• Score: 70/100
• State rank: #55
• US rank: #7689

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Bradley County · 99,337 people
• City population: 99,337
• Metro: Cleveland, TN
• Population (ZIP): 36,669
• Household income: $78,261
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 908.0

Population outlook (Bradley County) Hauer SSP2

• Today (2025): 114,901 people
• By 2030: 120,137 · +4.6%
• By 2040: 130,125 · +13.2%
• By 2050: 139,257 · +21.2%
• By 2075: 161,664 · +40.7%
• By 2100: 179,767 · +56.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Bradley

• 2024 margin: Solid R (+58.9) · D 20.0% · R 78.9% · Other 1.1%
• 2008→2024 swing: -9.2pp toward R · 2008: -49.7pp · 2024: -58.9pp
• All cycles: 2024: R+58.9 2020: R+55.3 2016: R+59.1 2012: R+53.9 2008: R+49.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -206.27%
• Current HPI: 260.8746
• Rent YoY: ▲ 0.15%
• Metro: Cleveland, 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

+324.4% since first listed

10 events — show timeline

• 2026-06-10 Price Changed $230,000 RCAOR
• 2026-06-10 Price Changed $230,000 GCAR
• 2026-06-10 Price Changed $230,000 REALTRACS as Distributed by MLS Grid
• 2026-01-21 Price Changed $245,000 RCAOR
• 2026-01-21 Price Changed $245,000 GCAR
• 2025-12-02 Listed $250,000 GCAR
• 2025-11-29 Listed $250,000 RCAOR
• 2025-11-29 Listed $245,000 REALTRACS as Distributed by MLS Grid
• 1996-10-15 Sold (Public Records) $69,900 Public Records
• 1995-06-12 Sold (Public Records) $54,200 Public Records

Property tax history

+1.0%/yr

Latest (2025): $686 · +5.4% YoY. Source: county tax records.