3061 Highland St · Milan, TN 38358

$125,000

3 bd · 2.0 ba · 2,044 sqft · SingleFamily public records · 17 Days on market

Built 1925 0.71 ac lot ↓ 17% since listing

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Why this score? — see what drove the C- 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 +21.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +4.9/10.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Historic 1925 Mission Revival / Spanish Eclectic home situated on a 0.71± acre lot in Milan, TN. This distinctive property offers approximately 2,044 square feet with 3 bedrooms, 2 bathrooms, and high ceilings throughout. Many original architectural features remain, including glass-paneled interior doors, antique crystal door knobs and hardware, working transom windows designed for natural airflow, an original built-in interior mail slot, historic millwork, and hardwood floors. Tall ceilings and classic proportions create spacious living areas while preserving the character of early 20th century craftsmanship. The property is zoned Residential / Professional, offering potential flexi

Key facts

• 0.71 acre lot
• Garage
• Built 1925

Property features AI

Exterior

• Parking: One-car garage; Three parking spaces total
• Utilities: Public water; Public sewer; Electricity connected (100 Amp service)
• Home design: Single-family residence; One story; Raised foundation
• Construction: Plaster construction
• Exterior features: Covered front porch; Public-maintained city street access; Zoned R/P (Residential Professional)

Interior

• Bedrooms: Two main-level bedrooms
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: High ceilings; Wood-frame windows

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $189 ($2k/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 $124k (0.9% below list).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#78 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools D-, crime F, amenities F.
• Milan (rural): math 36% / reading 26% proficiency, ranked #55 of 139 in TN (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 82 active listings in the ZIP; 155 units permitted in Gibson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Gibson County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,125 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.99% ✗
• Cap rate: 8.11%
• Cash-on-cash: 6.48%
• DSCR: 1.29
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -6.4%
• Equity multiple: 0.76×
• Total profit: $-8,245
• Equity at exit: $18,638

10-year hold

• IRR: 3.3%
• Equity multiple: 1.23×
• Total profit: $8,211
• Equity at exit: $10,808

Cash invested: $35,000 (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 38358

• Home prices YoY: -24.4%
• Active inventory: 82
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,239 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$82 /mo · $987/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $189

Break-even live

Break-even rent $1,000

Max offer price $125,000

Occupancy floor 80%

Sensitivity live

Price	-10% $260	-5% $224	+0% $189	+5% $154	+10% $118
Rent	-10% $91	-5% $140	+0% $189	+5% $238	+10% $287
Rate	-1.0pp $252	-0.5pp $221	base $189	+0.5pp $157	+1.0pp $124

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-07
   statusdays on market $125,000 Pending 17 DOM
2. 2026-06-03
   days on market $125,000 Active 15 DOM
3. 2026-06-02
   days on market $125,000 Active 14 DOM
4. 2026-06-01
   days on market $125,000 Active 13 DOM
5. 2026-05-31
   days on market $125,000 Active 12 DOM
6. 2026-05-22
   price $125,000
7. 2026-05-22
   status Active
8. 2026-04-17
   status Pending
9. 2026-04-13
   listed $150,000 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: $987 · $82/mo
• Projected year-2 tax: $987 · $82/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,868
• − Mortgage interest: −$7,002
• − Property taxes: −$987
• − Insurance: −$625
• − Repairs & maintenance: −$1,189
• − Management: −$1,189
• − Depreciation: −$3,636
• Taxable income: $239
• Est. tax owed @ 24.0%: −$57
• After-tax cash flow: $2,211/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: Milan
• NCES district ID: 4702970
• Math proficiency: 36% ▼ -16.00%
• Reading proficiency: 26% ▼ -11.00%
• Median HH income: $36,434
• Composite: 25.79/100
• National rank: #7365
• State rank: #55 of 139 in TN

Livability — Milan

• Score: 68/100
• State rank: #78
• US rank: #9084

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milan, TN
• City population: 12,511
• Population (ZIP): 12,511

Population outlook (Gibson County) Hauer SSP2

• Today (2025): 48,793 people
• By 2030: 48,221 · -1.2%
• By 2040: 46,793 · -4.1%
• By 2050: 44,909 · -8.0%
• By 2075: 40,191 · -17.6%
• By 2100: 33,574 · -31.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 17% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Iranian 2% Romanian 2%
• Foreign-born: 2% · Canada

Political lean MEDSL · Gibson

• 2024 margin: Solid R (+52.0) · D 23.6% · R 75.5%
• 2008→2024 swing: -23.2pp toward R · 2008: -28.8pp · 2024: -52.0pp
• All cycles: 2024: R+52.0 2020: R+47.0 2016: R+43.8 2012: R+32.1 2008: R+28.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.28%
• Current HPI: 208.8671
• 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

-16.7% since first listed

4 events — show timeline

• 2026-05-22 Price Changed $125,000 CWTAR
• 2026-05-22 Relisted — CWTAR
• 2026-04-17 Pending — CWTAR
• 2026-04-13 Listed $150,000 CWTAR

Property tax history

+3.1%/yr

Latest (2025): $987 · +186.1% YoY. Source: county tax records.