4819 Highway 49 W · Vanleer, TN 37181

$1,225,000

40 bd · 10.0 ba · 6,460 sqft · MultiFamily public records · 89 Days on market

Built 1980

---

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 +11.4/30.0
• Appreciation +9.6/10.0
• ARV discount +7.5/15.0
• DSCR +3.3/10.0
• Schools +2.7/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 10 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

10 unit multifamily investment located in a quant town of Vanleer. Well maintained. 9 units of 1 bed, 1 bath; 1 unit 2 bed, 1 bath. Weekly rentals, currently providing utilities (water and electric, gas/ water heater). Cash Flow with long term tenancy. Occupancy is at 100%, due to a strong workforce and affordable housing units local to Dickson, Clarksville, Erin, Cumberland City, and Waverly. Small town apartment complex. 40% on Housing Authority, 60% Private.

Key facts

• Well maintained
• Weekly rentals
• 15 parking spots

Tags

• MULTIFAMILY INVESTMENT
• WELL MAINTAINED
• WEEKLY RENTALS
• AFFORDABLE HOUSING UNITS
• SMALL TOWN APARTMENT COMPLEX

What this means for you Summary

Snapshot

• This is a 9×1bd/1ba + 1×2bd/1ba units multifamily listed at $1.23M.

Deal economics

• At list price, monthly cash flow is $-428 ($-5k/yr) — negative. Per door: $-43/mo.
• To cash-flow at today's rent, offer at most $1.15M (6.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $851k (30.5% below list).
• Recommended offer: $851k (30.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 54/100 on livability (#377 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Dickson County (rural): math 30% / reading 33% proficiency, ranked #39 of 139 in TN (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 16 active listings in the ZIP; 376 units permitted in Dickson County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $121k of equity ($8k loan paydown + $113k appreciation (9.2% local appreciation)).
• Dickson County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$194k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($1.15M) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $220k; list at $1.23M implies a 457% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $851,100 (30.5% 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 89 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.69% ✗
• Cap rate: 5.87%
• Cash-on-cash: -1.50%
• DSCR: 0.93
• GRM: 12.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

9.19% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.5%
• Equity multiple: 2.67×
• Total profit: $572,135
• Equity at exit: $1,032,184

10-year hold

• IRR: 19.5%
• Equity multiple: 5.93×
• Total profit: $1,690,293
• Equity at exit: $2,154,108

Cash invested: $343,000 (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 37181

• Home prices YoY: 2.5%
• Active inventory: 16
• Price-to-rent: 121.5×

Monthly cashflow live

• Estimated rent: $8,511 medium
• Mortgage (P&I): −$6,424
• Tax from tax record: −$217 /mo · $2,604/yr
• Insurance: −$510
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,787
• Net cashflow: $-428

Break-even live

Break-even rent $9,052

Max offer price $1,149,434

Occupancy floor —

10-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 9× units	1	1	$7,560
1× unit	2	1	$951
Total (10 units)			$8,511

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: $306,250
• Closing costs: $36,750
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $1,225,000 Active 89 DOM
2. 2026-06-17
   days on market $1,225,000 Active 88 DOM
3. 2026-06-16
   days on market $1,225,000 Active 87 DOM
4. 2026-06-15
   days on market $1,225,000 Active 86 DOM
5. 2026-06-13
   days on market $1,225,000 Active 84 DOM
6. 2026-06-13
   days on market $1,225,000 Active 83 DOM
7. 2026-06-09
   days on market $1,225,000 Active 80 DOM
8. 2026-06-08
   days on market $1,225,000 Active 79 DOM
9. 2026-06-07
   days on market $1,225,000 Active 78 DOM
10. 2026-06-05
    days on market $1,225,000 Active 75 DOM
11. 2026-06-03
    days on market $1,225,000 Active 74 DOM
12. 2026-06-02
    days on market $1,225,000 Active 73 DOM
13. 2026-06-01
    days on market $1,225,000 Active 72 DOM
14. 2026-05-31
    days on market $1,225,000 Active 71 DOM
15. 2026-03-21
    listed $1,225,000 Active 470-char remark

    Show marketing remark (470 chars)

    10 unit multifamily investment located in a quant town of Vanleer. Well maintained. 9 units of 1 bed, 1 bath; 1 unit 2 bed, 1 bath. Weekly rentals, currently providing utilities (water and electric, gas/ water heater). Cash Flow with long term tenancy. Occupancy is at 100%, due to a strong workforce and affordable housing units local to Dickson, Clarksville, Erin, Cumberland City, and Waverly. Small town apartment complex. 40% on Housing Authority, 60% Private.

16. 2026-03-01
    historical 1325-char remark

    Show marketing remark (1325 chars)

    SVN | Accel Commercial Real Estate is proud to present Vanleer Apartments, a 10-unit multifamily investment located in the heart of Vanleer, Tennessee. This well-maintained asset offers a diverse unit mix of nine one-bedroom, one-bath units and one two-bedroom, one-bath unit, each with functional layouts and full kitchens. The property operates on a weekly rent collection model under annual lease agreements, providing investors with consistent cash flow and long-term tenancy. Occupancy remains at 100%, supported by strong workforce housing demand from surrounding employment hubs in Dickson, Charlotte, and Burns. This deal is currently operating at a 7% cap rate. Strategically located along Highway 49 W, Vanleer Apartments benefits from excellent visibility and accessibility while maintaining a quiet small-town atmosphere. With opportunity for rent growth through light renovations and professional management, this property offers a compelling value-add investment in an expanding submarket. This can be bought as a portfolio of 27 units or separately. MLS #s 3041735, 3041741, 3041742, 3041745 Highlights: 10 total units (nine 1BR/1BA, one 2BR/1BA) 100% occupied; weekly rent collection with annual leases Steady workforce tenant base Reliable income and low turnover Accessible to Dickson and Charlotte

17. 2025-11-06
    listed $1,565,000 Active 1325-char remark

    Show marketing remark (1325 chars)

    SVN | Accel Commercial Real Estate is proud to present Vanleer Apartments, a 10-unit multifamily investment located in the heart of Vanleer, Tennessee. This well-maintained asset offers a diverse unit mix of nine one-bedroom, one-bath units and one two-bedroom, one-bath unit, each with functional layouts and full kitchens. The property operates on a weekly rent collection model under annual lease agreements, providing investors with consistent cash flow and long-term tenancy. Occupancy remains at 100%, supported by strong workforce housing demand from surrounding employment hubs in Dickson, Charlotte, and Burns. This deal is currently operating at a 7% cap rate. Strategically located along Highway 49 W, Vanleer Apartments benefits from excellent visibility and accessibility while maintaining a quiet small-town atmosphere. With opportunity for rent growth through light renovations and professional management, this property offers a compelling value-add investment in an expanding submarket. This can be bought as a portfolio of 27 units or separately. MLS #s 3041735, 3041741, 3041742, 3041745 Highlights: 10 total units (nine 1BR/1BA, one 2BR/1BA) 100% occupied; weekly rent collection with annual leases Steady workforce tenant base Reliable income and low turnover Accessible to Dickson and Charlotte

18. 2012-01-13
    soldstatus $220,000
19. 2002-04-02
    soldstatus $135,000
20. 2001-03-27
    soldstatus $115,000

ⓘ 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: $2,604 · $217/mo
• Projected year-2 tax: $8,698 · $725/mo
• Expected delta: +$6,094/yr (+$508/mo · 234.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $102,132
• − Mortgage interest: −$68,619
• − Property taxes: −$2,604
• − Insurance: −$6,125
• − Repairs & maintenance: −$8,171
• − Management: −$8,171
• − Depreciation: −$35,636
• Taxable loss: −$27,194
• Est. tax savings @ 24.0%: +$6,526
• After-tax cash flow: $1,393/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: Dickson County
• NCES district ID: 4701020
• Math proficiency: 30% ▼ -15.00%
• Reading proficiency: 33% ▼ -6.00%
• Median HH income: $45,458
• Composite: 27.01/100
• National rank: #7064
• State rank: #39 of 139 in TN

Livability — Vanleer

• Score: 54/100
• State rank: #377
• US rank: #24030

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vanleer, TN
• Population (ZIP): 1,520

Population outlook (Dickson County) Hauer SSP2

• Today (2025): 55,013 people
• By 2030: 56,448 · +2.6%
• By 2040: 58,508 · +6.4%
• By 2050: 59,076 · +7.4%
• By 2075: 58,343 · +6.1%
• By 2100: 52,900 · -3.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Other Asian/Pacific 1% German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Dickson

• 2024 margin: Solid R (+51.9) · D 23.5% · R 75.4% · Other 1.1%
• 2008→2024 swing: -30.6pp toward R · 2008: -21.4pp · 2024: -51.9pp
• All cycles: 2024: R+51.9 2020: R+47.4 2016: R+45.6 2012: R+28.4 2008: R+21.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.19%
• Current HPI: 381.0632
• 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

+965.2% since first listed

6 events — show timeline

• 2026-03-21 Listed $1,225,000 REALTRACS as Distributed by MLS Grid
• 2026-03-01 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2025-11-06 Listed $1,565,000 REALTRACS as Distributed by MLS Grid
• 2012-01-13 Sold (Public Records) $220,000 Public Records
• 2002-04-02 Sold (Public Records) $135,000 Public Records
• 2001-03-27 Sold (Public Records) $115,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $2,604 · +0.0% YoY. Source: county tax records.