15 Pratt St · Pikeville, TN 37367

$199,900

3 bd · 2.0 ba · 1,680 sqft · SingleFamily public records · 72 Days on market

Built 1980 0.28 ac lot $119/sqft · 7% below area Est $216k · 7% under

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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
• ARV discount +10.8/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +7.4/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks MLS

This well-appointed home presents an excellent opportunity on a generous .28 acre lot in the desirable Bledsoe County. Featuring 3 spacious bedrooms, this residence is ideal for families or anyone looking for extra space. The 2 bedrooms are thoughtfully designed for functionality and ease of use, ensuring comfort in daily routines. The property's expansive yard offers great potential for landscaping, gardening, or creating an outdoor entertaining area, making it a perfect backdrop for gatherings. Embrace the peaceful surroundings and community charm that this delightful home has to offer, creating a wonderful environment for both relaxation and connections.

Key facts

• Generous lot
• Expansive yard
• 0.28 acre lot

Tags

• GENEROUS LOT
• EXPANSIVE YARD
• OUTDOOR ENTERTAINING AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $700 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 4.9% in Pikeville — 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 59/100 on livability (#296 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing B+; Watch: health & safety C-, schools F, amenities F.
• Bledsoe County (rural): math 19% / reading 27% proficiency, ranked #104 of 139 in TN (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 155 active listings in the ZIP.

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Bledsoe County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y ago 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 $70k; list at $200k implies a 186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.24% ✓
• Cap rate: 10.83%
• Cash-on-cash: 16.20%
• DSCR: 1.72
• GRM: 6.7

CMA / ARV

• ARV (median comp): $215,914
• List price: $199,900
• Delta: -7.42%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32 Birchwood St	0.12mi	3/2.0	1,664 (-1%)	4mo	$179,900	$108	89
2673 Main St	0.19mi	3/1.0	1,800 (+7%)	23mo	$321,750	$179	56

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.4%
• Equity multiple: 3.74×
• Total profit: $153,415
• Equity at exit: $180,086

10-year hold

• IRR: 30.4%
• Equity multiple: 8.44×
• Total profit: $416,655
• Equity at exit: $388,362

Cash invested: $55,972 (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 37367

• Home prices YoY: 34.5%
• Active inventory: 155
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,485 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$76 /mo · $916/yr
• Insurance: −$83
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $700

Break-even live

Break-even rent $1,599

Max offer price $199,900

Occupancy floor 67%

Sensitivity live

Price	-10% $813	-5% $757	+0% $700	+5% $643	+10% $587
Rent	-10% $504	-5% $602	+0% $700	+5% $798	+10% $896
Rate	-1.0pp $801	-0.5pp $751	base $700	+0.5pp $648	+1.0pp $595

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $199,900 Active 72 DOM
2. 2026-06-17
   days on market $199,900 Active 71 DOM
3. 2026-06-16
   days on market $199,900 Active 70 DOM
4. 2026-06-15
   days on market $199,900 Active 69 DOM
5. 2026-06-14
   days on market $199,900 Active 67 DOM
6. 2026-06-10
   days on market $199,900 Active 64 DOM
7. 2026-06-09
   days on market $199,900 Active 63 DOM
8. 2026-06-08
   days on market $199,900 Active 62 DOM
9. 2026-06-07
   days on market $199,900 Active 61 DOM
10. 2026-06-03
    days on market $199,900 Active 57 DOM
11. 2026-06-02
    days on market $199,900 Active 56 DOM
12. 2026-06-01
    days on market $199,900 Active 55 DOM
13. 2026-05-31
    days on market $199,900 Active 54 DOM
14. 2026-05-30
    days on market $199,900 Active 53 DOM
15. 2026-05-01
    price $199,900 665-char remark

    Show marketing remark (665 chars)

    This well-appointed home presents an excellent opportunity on a generous .28 acre lot in the desirable Bledsoe County. Featuring 3 spacious bedrooms, this residence is ideal for families or anyone looking for extra space. The 2 bedrooms are thoughtfully designed for functionality and ease of use, ensuring comfort in daily routines. The property's expansive yard offers great potential for landscaping, gardening, or creating an outdoor entertaining area, making it a perfect backdrop for gatherings. Embrace the peaceful surroundings and community charm that this delightful home has to offer, creating a wonderful environment for both relaxation and connections.

16. 2026-04-30
    price $199,900 666-char remark

    Show marketing remark (666 chars)

    This well-appointed home presents an excellent opportunity on a generous 0.28-acre lot in the desirable Bledsoe County. Featuring 3 spacious bedrooms, this residence is ideal for families or anyone looking for extra space. The 2 bathrooms are thoughtfully designed for functionality and ease of use, ensuring comfort in daily routines. The property's expansive yard offers great potential for landscaping, gardening, or creating an outdoor entertaining area, making it a perfect backdrop for gatherings. Embrace the peaceful surroundings and community charm that this delightful home has to offer, creating a wonderful environment for both relaxation and connection.

17. 2026-04-07
    listed $204,900 Active 665-char remark

    Show marketing remark (665 chars)

    This well-appointed home presents an excellent opportunity on a generous .28 acre lot in the desirable Bledsoe County. Featuring 3 spacious bedrooms, this residence is ideal for families or anyone looking for extra space. The 2 bedrooms are thoughtfully designed for functionality and ease of use, ensuring comfort in daily routines. The property's expansive yard offers great potential for landscaping, gardening, or creating an outdoor entertaining area, making it a perfect backdrop for gatherings. Embrace the peaceful surroundings and community charm that this delightful home has to offer, creating a wonderful environment for both relaxation and connections.

18. 2026-03-23
    price $204,900 666-char remark

    Show marketing remark (666 chars)

    This well-appointed home presents an excellent opportunity on a generous 0.28-acre lot in the desirable Bledsoe County. Featuring 3 spacious bedrooms, this residence is ideal for families or anyone looking for extra space. The 2 bathrooms are thoughtfully designed for functionality and ease of use, ensuring comfort in daily routines. The property's expansive yard offers great potential for landscaping, gardening, or creating an outdoor entertaining area, making it a perfect backdrop for gatherings. Embrace the peaceful surroundings and community charm that this delightful home has to offer, creating a wonderful environment for both relaxation and connection.

19. 2026-03-23
    listed $219,900 Active 666-char remark

    Show marketing remark (666 chars)

    This well-appointed home presents an excellent opportunity on a generous 0.28-acre lot in the desirable Bledsoe County. Featuring 3 spacious bedrooms, this residence is ideal for families or anyone looking for extra space. The 2 bathrooms are thoughtfully designed for functionality and ease of use, ensuring comfort in daily routines. The property's expansive yard offers great potential for landscaping, gardening, or creating an outdoor entertaining area, making it a perfect backdrop for gatherings. Embrace the peaceful surroundings and community charm that this delightful home has to offer, creating a wonderful environment for both relaxation and connection.

20. 2026-03-22
    historical
21. 2026-02-06
    price $219,900
22. 2025-12-02
    price $224,900
23. 2025-11-21
    price $224,000
24. 2025-09-23
    listed $219,900
25. 2018-05-04
    soldstatus $70,000
26. 2011-02-01
    listed $85,500

ⓘ 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: $916 · $76/mo
• Projected year-2 tax: $1,419 · $118/mo
• Expected delta: +$503/yr (+$42/mo · 54.9%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,824
• − Mortgage interest: −$11,198
• − Property taxes: −$916
• − Insurance: −$1,666
• − Repairs & maintenance: −$2,386
• − Management: −$2,386
• − Depreciation: −$5,815
• Taxable income: $5,457
• Est. tax owed @ 24.0%: −$1,310
• After-tax cash flow: $7,089/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: Bledsoe County
• NCES district ID: 4700270
• Math proficiency: 19% ▼ -13.00%
• Reading proficiency: 27% ▼ -1.00%
• Median HH income: $35,901
• Composite: 19.02/100
• National rank: #8845
• State rank: #104 of 139 in TN

Livability — Pikeville

• Score: 59/100
• State rank: #296
• US rank: #20539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pikeville, TN
• County: Bledsoe · 11,736 people
• Population (ZIP): 11,736
• Household income: $54,696
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 2.1

Population outlook (Bledsoe County) Hauer SSP2

• Today (2025): 18,085 people
• By 2030: 19,649 · +8.6%
• By 2040: 22,438 · +24.1%
• By 2050: 24,582 · +35.9%
• By 2075: 26,769 · +48.0%
• By 2100: 25,033 · +38.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Italian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Bledsoe

• 2024 margin: Solid R (+70.5) · D 14.4% · R 84.9%
• 2008→2024 swing: -36.0pp toward R · 2008: -34.5pp · 2024: -70.5pp
• All cycles: 2024: R+70.5 2020: R+65.2 2016: R+58.6 2012: R+40.3 2008: R+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 106.44%
• Current HPI: 415.344
• 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

+133.8% since first listed

12 events — show timeline

• 2026-05-01 Price Changed $199,900 Knoxville MLS
• 2026-04-30 Price Changed $199,900 GCAR
• 2026-04-07 Listed $204,900 Knoxville MLS
• 2026-03-23 Price Changed $204,900 GCAR
• 2026-03-23 Listed $219,900 GCAR
• 2026-03-22 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2026-02-06 Price Changed $219,900 GCAR
• 2025-12-02 Price Changed $224,900 GCAR
• 2025-11-21 Price Changed $224,000 GCAR
• 2025-09-23 Listed $219,900 REALTRACS as Distributed by MLS Grid
• 2018-05-04 Sold (Public Records) $70,000 Public Records
• 2011-02-01 Listed $85,500 RCAOR

Property tax history

+3.1%/yr

Latest (2025): $916 · +0.0% YoY. Source: county tax records.