2783 Glade Creek Rd · Mayland, TN 38583

$159,000

3 bd · 2.0 ba · 945 sqft · Manufactured · 204 Days on market

Built 1995 Good condition 0.66 ac lot Est $151k · 5% over ↓ 55% since listing

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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 +11.6/30.0
• ARV discount +5.2/15.0
• Appreciation +4.8/10.0
• Condition / age +3.8/5.0
• DSCR +3.4/10.0
• 1% rule +3.3/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0

Listing remarks MLS

This 3 bedroom, 2 bath manufactured home sits on a . 66 acre site on a permanent foundation. Totally renovated the property borders a creek. Includes new appliances, new front and back porches and is nestled between trees.

Key facts

• Joins a creek
• Central heat and air
• Wooded acre site

Tags

• CENTRAL HEAT AND AIR
• WOODED ACRE SITE
• JOINS A CREEK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $159k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-51 ($-609/yr) — negative.
• To cash-flow at today's rent, offer at most $152k (4.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (16.6% below list).
• Recommended offer: $133k (16.6% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 0.8% in Mayland — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Putnam County (town): math 32% / reading 31% proficiency, ranked #49 of 139 in TN (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 354 active listings in the ZIP; 700 units permitted in Putnam County in 2024 (48 in 5+ unit buildings).

Forward outlook

• In year one you build about $340 of equity ($1k loan paydown + $-759 appreciation (-0.5% local appreciation)).
• Putnam County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 204 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $191k (55%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $132,665 (16.6% 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. It's been on market 204 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.83% ✗
• Cap rate: 5.91%
• Cash-on-cash: -1.37%
• DSCR: 0.94
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $151,200
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3478 Glade Creek Rd	0.52mi	3/2.0	968 (+2%)	13mo	$155,000	$160	61

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

Projected returns pro-forma

-0.48% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.7%
• Equity multiple: 0.74×
• Total profit: $-11,399
• Equity at exit: $42,409

10-year hold

• IRR: 0.7%
• Equity multiple: 1.07×
• Total profit: $2,944
• Equity at exit: $48,066

Cash invested: $44,520 (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 38583

• Home prices YoY: -0.1%
• Active inventory: 354
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,327 medium
• Mortgage (P&I): −$834
• Tax est. 1.5%: −$199 /mo · $2,385/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $-51

Break-even live

Break-even rent $1,391

Max offer price $151,655

Occupancy floor 99%

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-05
   statusdays on market $159,000 Pending 204 DOM
2. 2026-06-02
   days on market $159,000 Active 203 DOM
3. 2026-06-01
   days on market $159,000 Active 202 DOM
4. 2026-05-31
   days on market $159,000 Active 201 DOM
5. 2026-05-30
   days on market $159,000 Active 200 DOM
6. 2026-05-06
   price $159,000 222-char remark

   Show marketing remark (222 chars)

   This 3 bedroom, 2 bath manufactured home sits on a . 66 acre site on a permanent foundation. Totally renovated the property borders a creek. Includes new appliances, new front and back porches and is nestled between trees.

7. 2026-03-30
   status Active 222-char remark

   Show marketing remark (222 chars)

   This 3 bedroom, 2 bath manufactured home sits on a . 66 acre site on a permanent foundation. Totally renovated the property borders a creek. Includes new appliances, new front and back porches and is nestled between trees.

8. 2026-03-18
   status Pending 222-char remark

   Show marketing remark (222 chars)

   This 3 bedroom, 2 bath manufactured home sits on a . 66 acre site on a permanent foundation. Totally renovated the property borders a creek. Includes new appliances, new front and back porches and is nestled between trees.

9. 2026-03-04
   status Active 222-char remark

   Show marketing remark (222 chars)

   This 3 bedroom, 2 bath manufactured home sits on a . 66 acre site on a permanent foundation. Totally renovated the property borders a creek. Includes new appliances, new front and back porches and is nestled between trees.

10. 2026-01-12
    status Pending 222-char remark

    Show marketing remark (222 chars)

    This 3 bedroom, 2 bath manufactured home sits on a . 66 acre site on a permanent foundation. Totally renovated the property borders a creek. Includes new appliances, new front and back porches and is nestled between trees.

11. 2025-12-10
    price $169,000 222-char remark

    Show marketing remark (222 chars)

    This 3 bedroom, 2 bath manufactured home sits on a . 66 acre site on a permanent foundation. Totally renovated the property borders a creek. Includes new appliances, new front and back porches and is nestled between trees.

12. 2025-12-10
    status Active 222-char remark

    Show marketing remark (222 chars)

    This 3 bedroom, 2 bath manufactured home sits on a . 66 acre site on a permanent foundation. Totally renovated the property borders a creek. Includes new appliances, new front and back porches and is nestled between trees.

13. 2025-11-20
    status Pending 222-char remark

    Show marketing remark (222 chars)

    This 3 bedroom, 2 bath manufactured home sits on a . 66 acre site on a permanent foundation. Totally renovated the property borders a creek. Includes new appliances, new front and back porches and is nestled between trees.

14. 2025-11-06
    price $189,000 222-char remark

    Show marketing remark (222 chars)

    This 3 bedroom, 2 bath manufactured home sits on a . 66 acre site on a permanent foundation. Totally renovated the property borders a creek. Includes new appliances, new front and back porches and is nestled between trees.

15. 2025-08-19
    listed $350,000 Active 222-char remark

    Show marketing remark (222 chars)

    This 3 bedroom, 2 bath manufactured home sits on a . 66 acre site on a permanent foundation. Totally renovated the property borders a creek. Includes new appliances, new front and back porches and is nestled between trees.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $15,920
• − Mortgage interest: −$8,906
• − Property taxes: −$2,385
• − Insurance: −$795
• − Repairs & maintenance: −$1,274
• − Management: −$1,274
• − Depreciation: −$4,625
• Taxable loss: −$3,339
• Est. tax savings @ 24.0%: +$801
• After-tax cash flow: $192/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 · 12 photos

Good 75/100 Cosmetic rehab

This 3-bedroom, 2-bath manufactured home is in good condition with recent renovations, including new appliances and front and back porches. It offers a good investment opportunity with potential for further improvements.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and rental value
• Both Painting exterior — Fresh paint improves curb appeal and resale value
• Both Replace front porch railings — Weathered railings need replacement for safety and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and rental value ↑
• Both Painting exterior — Fresh paint improves curb appeal and resale value ↑
• Both Replace front porch railings — Weathered railings need replacement for safety and aesthetics ↑

ⓘ 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: Putnam County
• NCES district ID: 4703480
• Math proficiency: 32% ▼ -6.00%
• Reading proficiency: 31% ▼ -5.00%
• Median HH income: $35,738
• Composite: 26.09/100
• National rank: #7291
• State rank: #49 of 139 in TN

Livability — Mayland

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 25,739

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 80,122 people
• By 2030: 82,798 · +3.3%
• By 2040: 87,913 · +9.7%
• By 2050: 92,659 · +15.6%
• By 2075: 104,965 · +31.0%
• By 2100: 113,256 · +41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Slovak 3% Lithuanian 2% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Putnam

• 2024 margin: Solid R (+47.4) · D 25.7% · R 73.1% · Other 1.1%
• 2008→2024 swing: -20.5pp toward R · 2008: -26.9pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+43.4 2016: R+45.0 2012: R+37.1 2008: R+26.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.48%
• Current HPI: 357.041
• 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

-54.6% since first listed

10 events — show timeline

• 2026-05-06 Price Changed $159,000 UCMLS
• 2026-03-30 Relisted — UCMLS
• 2026-03-18 Pending — UCMLS
• 2026-03-04 Relisted — UCMLS
• 2026-01-12 Pending — UCMLS
• 2025-12-10 Price Changed $169,000 UCMLS
• 2025-12-10 Relisted — UCMLS
• 2025-11-20 Pending — UCMLS
• 2025-11-06 Price Changed $189,000 UCMLS
• 2025-08-19 Listed $350,000 UCMLS