2404 Main St · Pikeville, TN 37367

$249,000

3 bd · 1.0 ba · 1,014 sqft · SingleFamily public records · 135 Days on market

Built 1950 0.43 ac lot $246/sqft · 48% above area Est $222k · 12% over ↓ 6% 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 +23.0/30.0
• Appreciation +10.0/10.0
• DSCR +7.4/10.0
• 1% rule +4.7/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.0/15.0
• Schools +1.9/10.0

Listing remarks MLS

This beautifully updated 3-bedroom, 1.5-bath home puts you right in the heart of it all. Located directly across from the city playground, it's perfect for anyone who loves community living with convenience at their doorstep. Enjoy walkable downtown Pikeville while being just minutes from the breathtaking trails, waterfalls, and outdoor adventures of Fall Creek Falls State Park. With modern updates throughout and a prime location that blends small-town charm with outdoor escape, this home is move-in ready and full of opportunity. BUYER TO CONFIRM ALL INFORMATION AND MEASUREMENTS!

Key facts

• Modern updates
• Waterfalls
• Outdoor adventures

Tags

• WALKABLE DOWNTOWN PIKEVILLE
• BREATHTAKING TRAILS
• WATERFALLS
• OUTDOOR ADVENTURES
• FALL CREEK FALLS STATE PARK
• MODERN UPDATES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $249k.

Deal economics

• At list price, monthly cash flow is $442 ($5k/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 $240k (3.4% below list).
• Recommended offer: $219k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.8% in Pikeville — 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 59/100 on livability (#296 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing B+; Watch: health & safety C-, schools F, amenities F.
• Bledsoe County (rural): math 19% / reading 27% proficiency, ranked #104 of 139 in TN (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 155 active listings in the ZIP.
• At $2,404/mo this rent would consume 53% of the median local household income ($55k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Bledsoe County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($219k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $219,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
7. 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.
8. 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: 0.97% ✗
• Cap rate: 8.42%
• Cash-on-cash: 7.60%
• DSCR: 1.34
• GRM: 8.6

CMA / ARV

• ARV (median comp): $221,840
• List price: $249,000
• Delta: 12.24%
• Verdict: OVERPRICED
• Comps: 19 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.8%
• Equity multiple: 3.35×
• Total profit: $163,625
• Equity at exit: $224,319

10-year hold

• IRR: 25.8%
• Equity multiple: 7.59×
• Total profit: $459,471
• Equity at exit: $483,752

Cash invested: $69,720 (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 37367

• Home prices YoY: 34.5%
• Active inventory: 155
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,404 medium
• Mortgage (P&I): −$1,306
• Tax from tax record: −$48 /mo · $576/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$505
• Net cashflow: $442

Break-even live

Break-even rent $1,845

Max offer price $249,000

Occupancy floor 77%

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $249,000 Active 135 DOM
2. 2026-06-17
   days on market $249,000 Active 134 DOM
3. 2026-06-16
   days on market $249,000 Active 133 DOM
4. 2026-06-15
   days on market $249,000 Active 132 DOM
5. 2026-06-14
   days on market $249,000 Active 130 DOM
6. 2026-06-10
   days on market $249,000 Active 127 DOM
7. 2026-06-09
   days on market $249,000 Active 126 DOM
8. 2026-06-08
   days on market $249,000 Active 125 DOM
9. 2026-06-07
   days on market $249,000 Active 124 DOM
10. 2026-06-03
    days on market $249,000 Active 120 DOM
11. 2026-06-02
    days on market $249,000 Active 119 DOM
12. 2026-06-01
    days on market $249,000 Active 118 DOM
13. 2026-05-31
    days on market $249,000 Active 117 DOM
14. 2026-05-30
    days on market $249,000 Active 116 DOM
15. 2026-04-30
    price $249,000 586-char remark

    Show marketing remark (586 chars)

    This beautifully updated 3-bedroom, 1.5-bath home puts you right in the heart of it all. Located directly across from the city playground, it's perfect for anyone who loves community living with convenience at their doorstep. Enjoy walkable downtown Pikeville while being just minutes from the breathtaking trails, waterfalls, and outdoor adventures of Fall Creek Falls State Park. With modern updates throughout and a prime location that blends small-town charm with outdoor escape, this home is move-in ready and full of opportunity. BUYER TO CONFIRM ALL INFORMATION AND MEASUREMENTS!

16. 2026-02-23
    price $255,000 586-char remark

    Show marketing remark (586 chars)

    This beautifully updated 3-bedroom, 1.5-bath home puts you right in the heart of it all. Located directly across from the city playground, it's perfect for anyone who loves community living with convenience at their doorstep. Enjoy walkable downtown Pikeville while being just minutes from the breathtaking trails, waterfalls, and outdoor adventures of Fall Creek Falls State Park. With modern updates throughout and a prime location that blends small-town charm with outdoor escape, this home is move-in ready and full of opportunity. BUYER TO CONFIRM ALL INFORMATION AND MEASUREMENTS!

17. 2026-02-03
    listed $265,000 Active 586-char remark

    Show marketing remark (586 chars)

    This beautifully updated 3-bedroom, 1.5-bath home puts you right in the heart of it all. Located directly across from the city playground, it's perfect for anyone who loves community living with convenience at their doorstep. Enjoy walkable downtown Pikeville while being just minutes from the breathtaking trails, waterfalls, and outdoor adventures of Fall Creek Falls State Park. With modern updates throughout and a prime location that blends small-town charm with outdoor escape, this home is move-in ready and full of opportunity. BUYER TO CONFIRM ALL INFORMATION AND MEASUREMENTS!

ⓘ 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: $576 · $48/mo
• Projected year-2 tax: $1,768 · $147/mo
• Expected delta: +$1,192/yr (+$99/mo · 206.9%)

ⓘ 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 ≥103°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,851
• − Mortgage interest: −$13,948
• − Property taxes: −$576
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,308
• − Management: −$2,308
• − Depreciation: −$7,244
• Taxable income: $1,222
• Est. tax owed @ 24.0%: −$293
• After-tax cash flow: $5,008/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: Bledsoe County
• NCES district ID: 4700270
• Math proficiency: 19% ▼ -13.00%
• Reading proficiency: 27% ▼ -1.00%
• Median HH income: $35,901
• Composite: 19.02/100
• National rank: #8845
• State rank: #104 of 139 in TN

Livability — Pikeville

• Score: 59/100
• State rank: #296
• US rank: #20539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pikeville, TN
• County: Bledsoe · 11,736 people
• Population (ZIP): 11,736
• Household income: $54,696
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 2.1

Population outlook (Bledsoe County) Hauer SSP2

• Today (2025): 18,085 people
• By 2030: 19,649 · +8.6%
• By 2040: 22,438 · +24.1%
• By 2050: 24,582 · +35.9%
• By 2075: 26,769 · +48.0%
• By 2100: 25,033 · +38.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Italian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Bledsoe

• 2024 margin: Solid R (+70.5) · D 14.4% · R 84.9%
• 2008→2024 swing: -36.0pp toward R · 2008: -34.5pp · 2024: -70.5pp
• All cycles: 2024: R+70.5 2020: R+65.2 2016: R+58.6 2012: R+40.3 2008: R+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 106.44%
• Current HPI: 415.344
• 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

-6.0% since first listed

3 events — show timeline

• 2026-04-30 Price Changed $249,000 GCAR
• 2026-02-23 Price Changed $255,000 GCAR
• 2026-02-03 Listed $265,000 GCAR

Property tax history

+3.6%/yr

Latest (2025): $576 · +0.0% YoY. Source: county tax records.