321 Lakeview Dr

Fairfield Glade, TN 38558

$249,000D

3 bd · 2.0 ba · 1,275 sqft · Built 1986 · SingleFamily · Active · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,036/mo
• Mortgage (P&I): −$1,306
• Tax + insurance: −$146
• HOA: −$140
• Vac / Maint / Mgmt: −$428
• Net cashflow: $17/mo
• Annual: $204/yr
• Cap rate: 6.38%
• Cash-on-cash: 0.29%
• DSCR: 1.01
• 1% rule: 0.82%
• Cash to close: $69,720

Investor read

• This is a 3-bed/2.0-bath single-family listed at $249k.
• At list price, monthly cash flow is $17 ($204/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (18.2% below list).
• It's been on market 45 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $204k (18.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-2.1%/yr); year-one equity from $2k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#249 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: amenities F, commute F, health & safety F.
• Cumberland County (rural): math 30% / reading 31% proficiency, ranked #59 of 139 in TN (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Crab Orchard Elementary (math 24% / reading 25%, grade F, #546 of 952 statewide, top 61%, 458 students, 0% FRL); Stone Memorial High School (math 19% / reading 45%, grade F, #56 of 332 statewide, top 20%, 1,031 students, 0% FRL) — zoned schools average 0% FRL vs 56% district-wide (56 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 603 active listings in the ZIP; 114 units permitted in Cumberland County in 2024 (0 in 5+ unit buildings).
• Cumberland County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $88k; list at $249k implies a 185% gain — meaningful room to come down on a strong offer.
• Cap rate 6.4% vs local median 2.2% in Fairfield Glade — 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 45 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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?
• 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.