113 Water St · Cornersville, TN 37047

$99,900

2 bd · 1.0 ba · 698 sqft · SingleFamily public records · 17 Days on market

Built 1918 0.38 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Appreciation +5.5/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great Renovation Opportunity! 2 Bedroom Home on Extra Large Lot (2nd Building Lot Possible if approved by City and surveyed off); Property has been used for a Rental for several years, selling to settle an Estate;

Key facts

• Extra large lot
• 0.38 acre lot
• Built 1918

Tags

• EXTRA LARGE LOT
• RENOVATION OPPORTUNITY
• 2ND BUILDING LOT POSSIBLE

Property features AI

Exterior

• Utilities: Public water; Public sewer; Electricity available
• Home design: Single-family residence; One story; Residential property
• Construction: Vinyl siding; Shingle roof; Stone foundation; Existing (year built not specified)
• Exterior features: Covered porch

Interior

• Kitchen: No appliances included
• Bedrooms: 2 bedrooms (both on the main level); Primary bedroom approx. 13 x 11; Second bedroom approx. 9 x 10
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating (electric); Wall/window air conditioning unit(s)
• Interior features: Eat-in kitchen; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $409 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 4.1% in Cornersville — 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 65/100 on livability (#152 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, employment D+, amenities 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: Cornersville Elementary (math 35% / reading 34%, grade F, #319 of 952 statewide, top 37%, 468 students, 0% FRL); Cornersville School (math 21% / reading 32%, grade F, #112 of 332 statewide, top 35%, 442 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: 43 active listings in the ZIP; 400 units permitted in Marshall County in 2024 (75 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($691 loan paydown + $1k appreciation (1.0% local appreciation)).
• Marshall County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; moderate wildfire 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 $98,401 (1.5% below list)

Questions for the listing agent

1. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
6. 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.
7. 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: 1.36% ✓
• Cap rate: 12.00%
• Cash-on-cash: 20.40%
• DSCR: 1.91
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.03% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.6%
• Equity multiple: 2.00×
• Total profit: $28,060
• Equity at exit: $34,253

10-year hold

• IRR: 22.7%
• Equity multiple: 3.75×
• Total profit: $76,923
• Equity at exit: $45,633

Cash invested: $27,972 (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 37047

• Home prices YoY: 0.3%
• Active inventory: 43
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,358 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$32 /mo · $383/yr
• Insurance: −$42
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $409

Break-even live

Break-even rent $840

Max offer price $99,900

Occupancy floor 65%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-15
   status $99,900 Pending 17 DOM
2. 2026-06-13
   days on market $99,900 Active Under Contract 17 DOM
3. 2026-06-09
   days on market $99,900 Active Under Contract 13 DOM
4. 2026-06-08
   days on market $99,900 Active Under Contract 12 DOM
5. 2026-06-07
   days on market $99,900 Active Under Contract 11 DOM
6. 2026-06-03
   days on market $99,900 Active Under Contract 7 DOM
7. 2026-06-02
   days on market $99,900 Active Under Contract 6 DOM
8. 2026-06-01
   days on market $99,900 Active Under Contract 5 DOM
9. 2026-05-31
   statusdays on market $99,900 Active Under Contract 4 DOM
10. 2026-05-27
    listed $99,900 Active

ⓘ 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: $383 · $32/mo
• Projected year-2 tax: $709 · $59/mo
• Expected delta: +$326/yr (+$27/mo · 85.2%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,297
• − Mortgage interest: −$5,596
• − Property taxes: −$383
• − Insurance: −$1,297
• − Repairs & maintenance: −$1,304
• − Management: −$1,304
• − Depreciation: −$2,906
• Taxable income: $3,507
• Est. tax owed @ 24.0%: −$842
• After-tax cash flow: $4,066/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: 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 — Cornersville

• Score: 65/100
• State rank: #152
• US rank: #13391

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cornersville, TN
• Population (ZIP): 2,685

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 (76%)
• Race & ethnicity: White 76% Two or more races 18% Black 3% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Iranian 2% Polish 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 3% German/W. Germanic 1%

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: ▲ 1.03%
• Current HPI: 366.0155
• 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

1 event — show timeline

• 2026-05-27 Listed $99,900 REALTRACS as Distributed by MLS Grid

Property tax history

+4.2%/yr

Latest (2025): $383 · +5.5% YoY. Source: county tax records.