292 Obion St

Trimble, TN 38259

$37,900B

2 bd · 1.0 ba · 1,094 sqft · Built 1924 · SingleFamily · Pending · 63 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $950/mo
• Mortgage (P&I): −$199
• Tax + insurance: −$34
• HOA: −$0
• Vac / Maint / Mgmt: −$200
• Net cashflow: $518/mo
• Annual: $6,212/yr
• Cap rate: 22.68%
• Cash-on-cash: 58.54%
• DSCR: 3.60
• 1% rule: 2.51%
• Cash to close: $10,612

Investor read

• This is a 2-bed/1.0-bath single-family listed at $38k.
• At list price, monthly cash flow is $518 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($950 rent vs $38k).
• It's been on market 63 days — a 6% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $36k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-2.3%/yr); year-one equity from $262 of loan paydown is wiped out by about $871 of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#350 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: health & safety C-, schools F, crime F.
• Dyer County (rural): math 40% / reading 38% proficiency, ranked #16 of 139 in TN (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 74 units permitted in Dyer County in 2024 (6 in 5+ unit buildings).
• Dyer County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• At projected returns (-2.3% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.