239 Mackenzie Way · Lewisburg, TN 37091

$189,990

3 bd · 2.5 ba · 1,474 sqft · SingleFamily · 13 Days on market

Built 2025 Good condition $129/sqft · 18% below area Est $230k · 18% under $153/mo HOA · 10% of rent ↓ 5% 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).

• ARV discount +15.0/15.0
• Cash flow +7.9/30.0
• Condition / age +3.8/5.0
• 1% rule +3.4/10.0
• Livability +3.0/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

An open floorplan, this gorgeous townhome is maintenance free in a fantastic, landscaped community. Designed with modern living in mind, every inch of this home is built for both entertaining and everyday ease. The popular Medford floor plan has 3 beds, 2.5 baths and 1,474 sq ft. All bedrooms are upstairs making the downstairs feel spacious. Stainless steel appliances, white Silestone quartz countertops, and smart home features all in this great townhome! Visit us today to walk this floorplan in person and explore what bucolic Lewisburg has to offer. Photos are of Medford model home; floor plan is the same. Near quaint downtown and all the restaurants and shopping! 40 minutes to Cool Springs! Taxes are estimated. Builder contract. Photos are of the same floor plan at a different location (model home) and show the builder's optional features and finishes available at an additional cost. They are not pictures of the actual property for sale. Call and don't miss out on this great value Builder contract and taxes are estimated.

Key facts

• Quartz countertops
• Open floorplan
• Maintenance free

Tags

• OPEN FLOORPLAN
• SMART HOME FEATURES
• MAINTENANCE FREE
• ALL STAINLESS-STEEL APPLIANCES
• QUARTZ COUNTERTOPS

Property features AI

Finance

• Other: Level lot/topography
• HOA & community: Homeowners association with monthly fee; HOA fee $153 per month; HOA maintains structure and grounds and provides insurance; Community sidewalks; Underground utilities; Pets allowed

Exterior

• Parking: Attached garage (1 car) with garage door opener; Driveway; Parking lot; Garage faces front
• Security: Smart locks; Smart camera(s)/recording; Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity available; Water available
• Home design: Single family residence (attached property); Two levels; End unit; New construction
• Construction: Vinyl siding; Shingle roof; Slab foundation; New / built recently
• Exterior features: Patio; Privacy fencing; Smart camera(s)/recording; Smart irrigation; Smart locks

Interior

• Kitchen: Pantry; Dishwasher; Disposal; Microwave; Electric range
• Bedrooms: 3 bedrooms; Bedroom 1 — 11x13 with full bath; Bedroom 2 — 9x9; Bedroom 3 — 11x9; Master bathroom with double vanity
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Air filter; Extra closets; Smart lights; Smart thermostat; Air purifier; Smoke detector(s)
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $190k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-202 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $161k (15.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (15.8% below list).
• Recommended offer: $160k (15.8% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 3.6% in Lewisburg — 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 (#284 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Marshall County (rural): math 31% / reading 29% proficiency, ranked #58 of 139 in TN (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Oak Grove Elementary (471 students, 0% FRL); Marshall Co High School (math 17% / reading 35%, grade F, #117 of 332 statewide, top 37%, 815 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 274 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 400 units permitted in Marshall County in 2024 (75 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Marshall County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts 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.

Recommended offer $160,000 (15.8% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.84% ✗
• Cap rate: 5.02%
• Cash-on-cash: -4.56%
• DSCR: 0.80
• GRM: 9.9

CMA / ARV

• ARV (median comp): $230,478
• List price: $189,990
• Delta: -17.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
149 Mackenzie Way	0.04mi	3/2.5	1,474 (0%)	5mo	$199,990	$136	94
325 Weston Dr	0.05mi	3/2.5	1,474 (0%)	18mo	$234,990	$159	83
314 Weston Dr	0.02mi	3/2.5	1,474 (0%)	20mo	$224,990	$153	83
198 Southview Dr	0.39mi	3/2.0	1,500 (+2%)	3mo	$309,900	$207	75
943 Wedgewood Dr	0.27mi	3/2.0	1,384 (-6%)	5mo	$295,000	$213	71
172 Southview Dr	0.35mi	3/2.0	1,509 (+2%)	9mo	$317,700	$211	70
118 Southview Dr	0.21mi	3/2.0	1,256 (-15%)	1mo	$259,900	$207	63
185 Southview Dr	0.40mi	3/2.0	1,346 (-9%)	5mo	$301,000	$224	60
1211 Maelee Ann Dr	0.30mi	4/2.5 (+1)	1,649 (+12%)	3mo	$316,000	$192	59
115 Cecil St	0.54mi	3/2.0	1,500 (+2%)	16mo	$299,999	$200	56
1212 Maelee Ann Dr	0.30mi	3/2.0	1,338 (-9%)	20mo	$276,000	$206	52
811 Meadow St	0.61mi	3/2.0	1,599 (+8%)	19mo	$327,000	$205	40

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: -23.9%
• Equity multiple: 0.18×
• Total profit: $-43,532
• Equity at exit: $28,328

10-year hold

• IRR: -18.8%
• Equity multiple: -0.01×
• Total profit: $-53,992
• Equity at exit: $16,427

Cash invested: $53,197 (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 37091

• Home prices YoY: -14.6%
• Active inventory: 274
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,600 medium
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,850/yr
• Insurance: −$79
• HOA: −$153
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $-202

Break-even live

Break-even rent $1,856

Max offer price $160,763

Occupancy floor —

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: $47,498
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
174 Mackenzie Way Lewisburg, TN	3.0	2.5	1474	$1,600	$1.09	21d	1	0.10mi
174 Mackenzie Way Lewisburg, TN	3.0	2.5	1474	$1,600	$1.09	24d	1	0.10mi
968 Foxboro Dr Lewisburg, TN	3.0	2.0	1472	$1,600	$1.09	44d	1	1.12mi

HOA detail

• Monthly dues: $153 · $1,836/yr

Listing history 21 events

1. 2026-06-18
   days on market $189,990 Active 13 DOM
2. 2026-06-17
   days on market $189,990 Active 12 DOM
3. 2026-06-16
   days on market $189,990 Active 11 DOM
4. 2026-06-15
   days on market $189,990 Active 10 DOM
5. 2026-06-13
   days on market $189,990 Active 8 DOM

   Show marketing remark (1039 chars)

   An open floorplan, this gorgeous townhome is maintenance free in a fantastic, landscaped community. Designed with modern living in mind, every inch of this home is built for both entertaining and everyday ease. The popular Medford floor plan has 3 beds, 2.5 baths and 1,474 sq ft. All bedrooms are upstairs making the downstairs feel spacious. Stainless steel appliances, white Silestone quartz countertops, and smart home features all in this great townhome! Visit us today to walk this floorplan in person and explore what bucolic Lewisburg has to offer. Photos are of Medford model home; floor plan is the same. Near quaint downtown and all the restaurants and shopping! 40 minutes to Cool Springs! Taxes are estimated. Builder contract. Photos are of the same floor plan at a different location (model home) and show the builder's optional features and finishes available at an additional cost. They are not pictures of the actual property for sale. Call and don't miss out on this great value Builder contract and taxes are estimated.

6. 2026-06-09
   days on market $189,990 Active 4 DOM
7. 2026-06-08
   days on market $189,990 Active 3 DOM
8. 2026-06-07
   days on marketlisting id $189,990 Active 2 DOM
9. 2026-06-03
   days on market $189,990 Active 3 DOM
10. 2026-06-02
    days on market $189,990 Active 2 DOM
11. 2026-06-01
    days on marketlisting id $189,990 Active 1 DOM
12. 2026-05-31
    days on market $189,990 Active 66 DOM

    Show marketing remark (1039 chars)

    An open floorplan, this gorgeous townhome is maintenance free in a fantastic, landscaped community. Designed with modern living in mind, every inch of this home is built for both entertaining and everyday ease. The popular Medford floor plan has 3 beds, 2.5 baths and 1,474 sq ft. All bedrooms are upstairs making the downstairs feel spacious. Stainless steel appliances, white Silestone quartz countertops, and smart home features all in this great townhome! Visit us today to walk this floorplan in person and explore what bucolic Lewisburg has to offer. Photos are of Medford model home; floor plan is the same. Near quaint downtown and all the restaurants and shopping! 40 minutes to Cool Springs! Taxes are estimated. Builder contract. Photos are of the same floor plan at a different location (model home) and show the builder's optional features and finishes available at an additional cost. They are not pictures of the actual property for sale. Call and don't miss out on this great value Builder contract and taxes are estimated.

13. 2026-05-19
    historical 853-char remark

    Show marketing remark (853 chars)

    From the open floorplan to its smart home features, this gorgeous end townhome s maintenance free in beautifully landscaped community! Designed with modern living in mind, every inch of this home is built for both entertaining and everyday ease. The popular Medford floor plan has 3 beds, 2.5 baths and 1,474 sq ft. All bedrooms are upstairs making the downstairs feel spacious! The home comes with ALL Stainless-Steel appliances included, smart home features, quartz countertops and much more! Visit us today to walk this floorplan in person and explore with bucolic Lewisburg has to offer. Photos are of Medford model home; floor plan is the same. Near quaint downtown and all the restaurants and shopping! 35 minutes to Cool Springs! Taxes are estimated. Builder contract. Call and don't miss out on this great value! Onsite Agent is Jeffrey James.

14. 2026-05-16
    price $189,990 853-char remark

    Show marketing remark (853 chars)

    From the open floorplan to its smart home features, this gorgeous end townhome s maintenance free in beautifully landscaped community! Designed with modern living in mind, every inch of this home is built for both entertaining and everyday ease. The popular Medford floor plan has 3 beds, 2.5 baths and 1,474 sq ft. All bedrooms are upstairs making the downstairs feel spacious! The home comes with ALL Stainless-Steel appliances included, smart home features, quartz countertops and much more! Visit us today to walk this floorplan in person and explore with bucolic Lewisburg has to offer. Photos are of Medford model home; floor plan is the same. Near quaint downtown and all the restaurants and shopping! 35 minutes to Cool Springs! Taxes are estimated. Builder contract. Call and don't miss out on this great value! Onsite Agent is Jeffrey James.

15. 2026-05-16
    price $189,990 1206-char remark

    Show marketing remark (853 chars)

    From the open floorplan to its smart home features, this gorgeous end townhome s maintenance free in beautifully landscaped community! Designed with modern living in mind, every inch of this home is built for both entertaining and everyday ease. The popular Medford floor plan has 3 beds, 2.5 baths and 1,474 sq ft. All bedrooms are upstairs making the downstairs feel spacious! The home comes with ALL Stainless-Steel appliances included, smart home features, quartz countertops and much more! Visit us today to walk this floorplan in person and explore with bucolic Lewisburg has to offer. Photos are of Medford model home; floor plan is the same. Near quaint downtown and all the restaurants and shopping! 35 minutes to Cool Springs! Taxes are estimated. Builder contract. Call and don't miss out on this great value! Onsite Agent is Jeffrey James.

16. 2026-05-04
    listed $199,990 Active 853-char remark

    Show marketing remark (853 chars)

    From the open floorplan to its smart home features, this gorgeous end townhome s maintenance free in beautifully landscaped community! Designed with modern living in mind, every inch of this home is built for both entertaining and everyday ease. The popular Medford floor plan has 3 beds, 2.5 baths and 1,474 sq ft. All bedrooms are upstairs making the downstairs feel spacious! The home comes with ALL Stainless-Steel appliances included, smart home features, quartz countertops and much more! Visit us today to walk this floorplan in person and explore with bucolic Lewisburg has to offer. Photos are of Medford model home; floor plan is the same. Near quaint downtown and all the restaurants and shopping! 35 minutes to Cool Springs! Taxes are estimated. Builder contract. Call and don't miss out on this great value! Onsite Agent is Jeffrey James.

17. 2026-05-03
    historical
18. 2026-04-05
    listed $199,990 Active
19. 2026-04-01
    price $199,990 1206-char remark
20. 2026-03-27
    price $202,990 1206-char remark
21. 2026-03-26
    listed $241,990 Active 1206-char remark

ⓘ 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: $19,200
• − Mortgage interest: −$10,642
• − Property taxes: −$2,850
• − Insurance: −$950
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − HOA: −$1,836
• − Depreciation: −$5,527
• Taxable loss: −$5,677
• Est. tax savings @ 24.0%: +$1,363
• After-tax cash flow: $-1,061/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

Good 75/100 Cosmetic rehab

This Medford model home is in good condition with modern features and a good layout, ready for move-in.

Value-add opportunities

• Both Smart home features — Enhances both resale and rental appeal
• Both Landscaping improvements — Enhances curb appeal and property value
• Both Painting exterior — Improves curb appeal and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Smart home features — Enhances both resale and rental appeal ↑
• Both Landscaping improvements — Enhances curb appeal and property value ↑
• Both Painting exterior — Improves curb appeal and property 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: Marshall County
• NCES district ID: 4702670
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 29% ▼ -5.00%
• Median HH income: $43,058
• Composite: 25.56/100
• National rank: #7426
• State rank: #58 of 139 in TN

Livability — Lewisburg

• Score: 59/100
• State rank: #284
• US rank: #20031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lewisburg, TN
• Population (ZIP): 23,991

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 33,222 people
• By 2030: 33,867 · +1.9%
• By 2040: 34,743 · +4.6%
• By 2050: 34,954 · +5.2%
• By 2075: 34,652 · +4.3%
• By 2100: 31,862 · -4.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 8% Black 5% Two or more races 4%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Serbian 4% Slovak 2% Romanian 1%
• Foreign-born: 3% · Canada, Jamaica, Vietnam
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Marshall

• 2024 margin: Solid R (+56.6) · D 21.2% · R 77.8%
• 2008→2024 swing: -17.0pp toward R · 2008: -39.6pp · 2024: -56.6pp
• All cycles: 2024: R+56.6 2020: R+50.0 2016: R+46.6 2012: R+28.9 2008: R+39.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.86%
• Current HPI: 350.5306
• 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

-5.0% since first listed

8 events — show timeline

• 2026-06-13 Contingent — REALTRACS as Distributed by MLS Grid
• 2026-06-05 Listed $189,990 REALTRACS as Distributed by MLS Grid
• 2026-05-31 Listed $189,990 REALTRACS as Distributed by MLS Grid
• 2026-05-19 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2026-05-16 Price Changed $189,990 REALTRACS as Distributed by MLS Grid
• 2026-05-04 Listed $199,990 REALTRACS as Distributed by MLS Grid
• 2026-05-03 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2026-04-05 Listed $199,990 REALTRACS as Distributed by MLS Grid

Property tax history

+7.7%/yr

Latest (2025): $167 · +7.7% YoY. Source: county tax records.