113/115 Walsh Ln · Oak Ridge, TN 37830

$310,000

4 bd · 0.0 ba · — sqft · MultiFamily · 110 Days on market

Built 1943 0.49 ac lot ↓ 2% since listing

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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 +13.8/30.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• 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

This former single-family property has been professionally converted into a two-unit duplex, now addressed as 113 and 115 Walsh Lane. Each unit offers separate entrances and independent living spaces, making it ideal for dual tenancy or owner-occupancy with rental income. The functional layouts maximize square footage and tenant appeal, with comfortable living areas, practical kitchens, and well-sized bedrooms. The property provides strong flexibility for long-term rental, short-term rental (where permitted), or multi-generational housing. A smart addition to any portfolio, 113 & 115 Walsh Lane combines stability, versatility, and income potential. don't miss this amazing investment o

Key facts

• Two unit duplex
• Practical kitchens
• Separate entrances

Tags

• TWO UNIT DUPLEX
• SEPARATE ENTRANCES
• INDEPENDENT LIVING SPACES
• FUNCTIONAL LAYOUTS
• COMFORTABLE LIVING AREAS
• PRACTICAL KITCHENS

Property features AI

Finance

• Financial info: Two total units (multifamily)

Exterior

• Parking: On-street parking
• Construction: Block and frame construction
• Exterior features: Block and frame construction

Interior

• Kitchen: Refrigerator
• Bedrooms: One unit with 3 bedrooms; One unit with 1 bedroom
• Flooring: Hardwood; Tile
• Heating & cooling: Central heating (natural gas and electric); Central cooling; Ceiling fans
• Interior features: Hardwood and tile flooring; Refrigerator included

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $310k.

Deal economics

• At list price, monthly cash flow is $28 ($333/yr) — positive. Per door: $14/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $275k (11.4% below list).
• Recommended offer: $275k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.4% in Oak Ridge — 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 78/100 on livability (#4 in TN, #2,605 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, commute F.
• Oak Ridge (suburban): math 34% / reading 37% proficiency, ranked #23 of 139 in TN (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.1%/yr); 189 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 400 units permitted in Anderson County in 2024 (91 in 5+ unit buildings).
• At $2,747/mo this rent would consume 46% of the median local household income ($72k/yr) (locally 914% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($282k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $274,700 (11.4% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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.
9. 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.
10. 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: 0.89% ✗
• Cap rate: 6.40%
• Cash-on-cash: 0.38%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

No comps found within radius.

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
460 W Outer Dr	0.45mi	4/2.0	1,425	9mo	$340,000	$239	51
178180 Hillside Rd	0.65mi	5/— (+1)	1,425	6mo	$285,000	$200	47
178 & 180 Hillside Rd	0.66mi	5/— (+1)	1,425	6mo	$285,000	$200	46
380 W Outer Dr	0.74mi	5/— (+1)	2,119	2mo	$322,000	$152	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.11% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.45×
• Total profit: $-48,118
• Equity at exit: $46,222

10-year hold

• IRR: -6.9%
• Equity multiple: 0.56×
• Total profit: $-38,201
• Equity at exit: $26,803

Cash invested: $86,800 (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 37830

• Home prices YoY: -33.2%
• Rents YoY: 3.1%
• Active inventory: 189
• Price-to-rent: 18.8×

Monthly cashflow live

• Estimated rent: $2,747 high
• Mortgage (P&I): −$1,626
• Tax est. 1.5%: −$388 /mo · $4,650/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$577
• Net cashflow: $28

Break-even live

Break-even rent $2,712

Max offer price $310,000

Occupancy floor 94%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,748
Total (2 units)			$2,747

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
113 Wakeman Ln Oak Ridge, TN	3.0	1.0	1100	$1,550	$1.41	2d	1	0.12mi
102 Wainwright Rd Oak Ridge, TN	3.0	1.5	1250	$1,295	$1.04	2d	1	0.30mi
219 Highland Ave Unit 1 Oak Ridge, TN	3.0	1.0	950	$1,595	$1.68	2d	1	0.50mi
156 N Illinois Ave Oak Ridge, TN	3.0	2.0	1326	$1,695	$1.28	2d	1	0.57mi
289 Royce Cir Oak Ridge, TN	2.0–3.0	2.0	1063	$1,516	$1.43	2d	3	0.72mi

Listing history 16 events

1. 2026-06-18
   days on market $310,000 Active 110 DOM
2. 2026-06-17
   days on market $310,000 Active 109 DOM
3. 2026-06-16
   days on market $310,000 Active 108 DOM
4. 2026-06-15
   days on market $310,000 Active 107 DOM
5. 2026-06-14
   days on market $310,000 Active 105 DOM
6. 2026-06-10
   days on market $310,000 Active 102 DOM
7. 2026-06-09
   days on market $310,000 Active 101 DOM
8. 2026-06-08
   days on market $310,000 Active 100 DOM
9. 2026-06-07
   days on market $310,000 Active 99 DOM
10. 2026-06-03
    days on market $310,000 Active 95 DOM
11. 2026-06-02
    days on market $310,000 Active 94 DOM
12. 2026-06-01
    days on market $310,000 Active 93 DOM
13. 2026-05-31
    days on market $310,000 Active 92 DOM
14. 2026-05-31
    days on market $310,000 Active 91 DOM
15. 2026-05-20
    price $310,000
16. 2026-02-27
    listed $315,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 6 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,964
• − Mortgage interest: −$17,365
• − Property taxes: −$4,650
• − Insurance: −$1,550
• − Repairs & maintenance: −$2,637
• − Management: −$2,637
• − Depreciation: −$9,018
• Taxable loss: −$4,893
• Est. tax savings @ 24.0%: +$1,174
• After-tax cash flow: $1,508/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: Oak Ridge
• NCES district ID: 4703240
• Math proficiency: 34% ▼ -3.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $49,949
• Composite: 30.75/100
• National rank: #6159
• State rank: #23 of 139 in TN

Livability — Oak Ridge

• Score: 78/100
• State rank: #4
• US rank: #2605

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oak Ridge, TN
• County: Anderson County · 33,038 people
• City population: 33,038
• Metro: Knoxville, TN
• Population (ZIP): 33,038
• Household income: $72,269
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 914.0

Population outlook (Anderson County) Hauer SSP2

• Today (2025): 76,963 people
• By 2030: 77,226 · +0.3%
• By 2040: 76,905 · -0.1%
• By 2050: 75,405 · -2.0%
• By 2075: 70,858 · -7.9%
• By 2100: 60,585 · -21.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 7% Hispanic / Latino 6% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 3% Slovak 3% Italian 3%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 91% English-only · Spanish 5% Chinese 1% German/W. Germanic 1%

Political lean MEDSL · Anderson

• 2024 margin: Solid R (+35.7) · D 31.5% · R 67.3% · Other 1.2%
• 2008→2024 swing: -9.5pp toward R · 2008: -26.2pp · 2024: -35.7pp
• All cycles: 2024: R+35.7 2020: R+32.2 2016: R+34.3 2012: R+29.8 2008: R+26.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -160.89%
• Current HPI: 323.0396
• Rent YoY: ▲ 3.11%
• Metro: Knoxville, 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

-1.6% since first listed

2 events — show timeline

• 2026-05-20 Price Changed $310,000 Knoxville MLS
• 2026-02-27 Listed $315,000 Knoxville MLS