69 Carolane Dr · Jackson, TN 38305

$204,900

4 bd · 3.0 ba · 1,849 sqft · MultiFamily public records · 29 Days on market

Built 1973 7,542 sqft lot ↓ 16% 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 +28.6/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Livability +3.1/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Turnkey, fully leased duplex—ideal for steady cash flow! One side features a charming 1 BR/1 BA unit currently leased at \$895/mo, while the other offers a spacious 3 BR/1 BA home bringing in \$1,100/mo for a total monthly income of \$1,995. A brand-new roof replacement is already under contract at full price, delivering worry-free ownership from day one. Located in a convenient neighborhood near shopping, dining, and major commuter routes, this property is perfectly positioned for both long-term investors and owner-occupants seeking rental income. Don’t miss out on this exceptional value—schedule your showing today!

Key facts

• 7,542 sq ft lot
• Built 1973
• Listed 28 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $205k.

Deal economics

• At list price, monthly cash flow is $677 ($8k/yr) — positive. Per door: $339/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $205k).
• Recommended offer: $202k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 3.5% in Jackson — 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 62/100 on livability (#216 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Madison County (urban): math 10% / reading 17% proficiency, ranked #131 of 139 in TN (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.6%/yr); 508 active listings in the ZIP; 247 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Madison County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $57k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 5 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,826 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 1.18% ✓
• Cap rate: 10.26%
• Cash-on-cash: 14.16%
• DSCR: 1.63
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.58% rent growth · sell at horizon

5-year hold

• IRR: 3.0%
• Equity multiple: 1.11×
• Total profit: $6,454
• Equity at exit: $30,551

10-year hold

• IRR: 11.2%
• Equity multiple: 1.82×
• Total profit: $47,298
• Equity at exit: $17,716

Cash invested: $57,372 (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 38305

• Rents YoY: 1.6%
• Active inventory: 508
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $2,408 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$65 /mo · $783/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$506
• Net cashflow: $677

Break-even live

Break-even rent $1,551

Max offer price $204,900

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,408
Total (2 units)			$2,408

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: $51,225
• Closing costs: $6,147
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-19
   days on market $204,900 Active 29 DOM
2. 2026-06-18
   days on market $204,900 Active 28 DOM
3. 2026-06-17
   days on market $204,900 Active 27 DOM
4. 2026-06-16
   days on market $204,900 Active 26 DOM
5. 2026-06-15
   days on market $204,900 Active 25 DOM
6. 2026-06-14
   days on market $204,900 Active 23 DOM
7. 2026-06-13
   days on market $204,900 Active 22 DOM
8. 2026-06-10
   days on market $204,900 Active 20 DOM
9. 2026-06-09
   days on market $204,900 Active 19 DOM
10. 2026-06-08
    days on market $204,900 Active 18 DOM
11. 2026-06-07
    days on market $204,900 Active 17 DOM
12. 2026-06-05
    days on market $204,900 Active 14 DOM
13. 2026-06-03
    days on market $204,900 Active 13 DOM
14. 2026-06-02
    days on market $204,900 Active 12 DOM
15. 2026-06-01
    days on market $204,900 Active 11 DOM
16. 2026-05-31
    days on market $204,900 Active 10 DOM
17. 2026-05-30
    days on market $204,900 Active 9 DOM
18. 2026-05-21
    listed $214,900 Active
19. 2026-03-01
    historical 642-char remark

    Show marketing remark (642 chars)

    Turnkey, fully leased duplex—ideal for steady cash flow! One side features a charming 1 BR/1 BA unit currently leased at \$895/mo, while the other offers a spacious 3 BR/1 BA home bringing in \$1,100/mo for a total monthly income of \$1,995. A brand-new roof replacement is already under contract at full price, delivering worry-free ownership from day one. Located in a convenient neighborhood near shopping, dining, and major commuter routes, this property is perfectly positioned for both long-term investors and owner-occupants seeking rental income. Don’t miss out on this exceptional value—schedule your showing today!

20. 2025-11-11
    status Active 642-char remark

    Show marketing remark (642 chars)

    Turnkey, fully leased duplex—ideal for steady cash flow! One side features a charming 1 BR/1 BA unit currently leased at \$895/mo, while the other offers a spacious 3 BR/1 BA home bringing in \$1,100/mo for a total monthly income of \$1,995. A brand-new roof replacement is already under contract at full price, delivering worry-free ownership from day one. Located in a convenient neighborhood near shopping, dining, and major commuter routes, this property is perfectly positioned for both long-term investors and owner-occupants seeking rental income. Don’t miss out on this exceptional value—schedule your showing today!

21. 2025-11-01
    historical Active Under Contract 642-char remark

    Show marketing remark (642 chars)

    Turnkey, fully leased duplex—ideal for steady cash flow! One side features a charming 1 BR/1 BA unit currently leased at \$895/mo, while the other offers a spacious 3 BR/1 BA home bringing in \$1,100/mo for a total monthly income of \$1,995. A brand-new roof replacement is already under contract at full price, delivering worry-free ownership from day one. Located in a convenient neighborhood near shopping, dining, and major commuter routes, this property is perfectly positioned for both long-term investors and owner-occupants seeking rental income. Don’t miss out on this exceptional value—schedule your showing today!

22. 2025-10-24
    listed $194,990 Active 642-char remark

    Show marketing remark (642 chars)

    Turnkey, fully leased duplex—ideal for steady cash flow! One side features a charming 1 BR/1 BA unit currently leased at \$895/mo, while the other offers a spacious 3 BR/1 BA home bringing in \$1,100/mo for a total monthly income of \$1,995. A brand-new roof replacement is already under contract at full price, delivering worry-free ownership from day one. Located in a convenient neighborhood near shopping, dining, and major commuter routes, this property is perfectly positioned for both long-term investors and owner-occupants seeking rental income. Don’t miss out on this exceptional value—schedule your showing today!

23. 2025-10-18
    historical
24. 2025-07-26
    price $199,900
25. 2025-07-03
    price $212,900
26. 2025-05-29
    listed $214,900 Active
27. 2025-02-03
    historical $1,100
28. 2025-01-22
    listed $1,100
29. 2022-05-04
    soldstatus $645,000
30. 2022-05-04
    soldstatus $162,500
31. 2021-02-25
    soldstatus $127,500
32. 2000-01-28
    soldstatus $255,000

ⓘ 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: $783 · $65/mo
• Projected year-2 tax: $1,455 · $121/mo
• Expected delta: +$672/yr (+$56/mo · 85.8%)

ⓘ 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 7/10 Severe 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% 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: $28,896
• − Mortgage interest: −$11,478
• − Property taxes: −$783
• − Insurance: −$1,024
• − Repairs & maintenance: −$2,312
• − Management: −$2,312
• − Depreciation: −$5,961
• Taxable income: $5,027
• Est. tax owed @ 24.0%: −$1,206
• After-tax cash flow: $6,920/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: Madison County
• NCES district ID: 4702580
• Math proficiency: 10% ▼ -11.00%
• Reading proficiency: 17% ▼ -4.00%
• Median HH income: $42,015
• Composite: 11.74/100
• National rank: #9687
• State rank: #131 of 139 in TN

Livability — Jackson

• Score: 62/100
• State rank: #216
• US rank: #16488

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jackson, TN
• County: Madison County · 87,024 people
• City population: 87,024
• Metro: Jackson, TN
• Population (ZIP): 53,488
• Household income: $68,977
• Rent vs Own: 36.7% rent · 63.3% own
• Severe rent burden: 2228.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 95,952 people
• By 2030: 94,264 · -1.8%
• By 2040: 89,607 · -6.6%
• By 2050: 84,133 · -12.3%
• By 2075: 72,215 · -24.7%
• By 2100: 62,062 · -35.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 57% Black 32% Hispanic / Latino 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 2% Italian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Madison

• 2024 margin: R (+18.2) · D 40.3% · R 58.5% · Other 1.2%
• 2008→2024 swing: +3.4pp toward D · 2008: -21.6pp · 2024: -18.2pp
• All cycles: 2024: R+18.2 2020: R+12.9 2016: R+15.6 2012: R+8.9 2008: R+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -118.63%
• Current HPI: 195.4511
• Rent YoY: ▲ 1.58%
• Metro: Jackson, TN
• 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

-15.7% since first listed

15 events — show timeline

• 2026-05-21 Listed $214,900 REALTRACS as Distributed by MLS Grid
• 2026-03-01 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2025-11-11 Relisted — REALTRACS as Distributed by MLS Grid
• 2025-11-01 Contingent — REALTRACS as Distributed by MLS Grid
• 2025-10-24 Listed $194,990 REALTRACS as Distributed by MLS Grid
• 2025-10-18 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2025-07-26 Price Changed $199,900 REALTRACS as Distributed by MLS Grid
• 2025-07-03 Price Changed $212,900 REALTRACS as Distributed by MLS Grid
• 2025-05-29 Listed $214,900 REALTRACS as Distributed by MLS Grid
• 2025-02-03 Rental Removed $1,100 BUILDIUM
• 2025-01-22 Listed for Rent $1,100 BUILDIUM
• 2022-05-04 Sold (Public Records) $162,500 Public Records
• 2022-05-04 Sold (Public Records) $645,000 Public Records
• 2021-02-25 Sold (Public Records) $127,500 Public Records
• 2000-01-28 Sold (Public Records) $255,000 Public Records

Property tax history

-1.1%/yr

Latest (2025): $783 · +0.0% YoY. Source: county tax records.