206 Edison St W · Fayetteville, TN 37334

$449,000

4 bd · 8.0 ba · 6,478 sqft · MultiFamily public records · 47 Days on market

Built 1930 8,188 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

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

Prime investment opportunity in the heart of downtown Fayetteville, this fully occupied seven-unit apartment complex features all one-bedroom units that have been recently updated for strong tenant appeal. The property offers stable cash flow today with clear upside potential, as the lower level includes a former laundromat space that presents a value-add opportunity for additional income or conversion to alternative uses. With its central location, modern updates, and built-in growth potential, this property is well positioned for both steady returns and long-term appreciation.

Key facts

• Recently updated
• Central location
• 8,188 sq ft lot

Tags

• SEVEN UNIT APARTMENT COMPLEX
• RECENTLY UPDATED
• CENTRAL LOCATION

Property features AI

Finance

• Other: Zoning: C1
• Financial info: Seven total units; Gross income reported at $66,240; Net operating income reported at $31,274; Owner pays electricity, trash collection, and water; Tenants pay cable TV
• HOA & community: No HOA information provided

Exterior

• Parking: No designated covered parking spaces reported; No parking total reported
• Security: No security details provided
• Utilities: Public water; Public sewer; Water available
• Home design: Residential income multi-family building; Attached property; Three or more levels
• Construction: Brick and vinyl siding exterior; Metal roof
• Exterior features: Property has a view; Lot dimensions approximately 92 x 89

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Seven 1-bedroom units (unit-level details indicate each 1-bedroom unit)
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: Each 1-bedroom unit has 1 bathroom
• Heating & cooling: Wall furnace heating; Wall/window air conditioning units
• Interior features: Laminate and vinyl flooring; Wall furnaces for heating; Wall/window air conditioning units
• Laundry & utility: Shared laundry

What this means for you Summary

Snapshot

• This is a 4-bed/8.0-bath multifamily listed at $449k.

Deal economics

• At list price, monthly cash flow is $3k ($40k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $449k).
• Recommended offer: $436k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.2% vs local median 2.9% in Fayetteville — 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 63/100 on livability (#204 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Fayetteville (town): math 18% / reading 24% proficiency, ranked #114 of 139 in TN (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Ralph Askins School (math 32% / reading 32%, grade F, #369 of 952 statewide, top 42%, 555 students, 0% FRL); Fayetteville High School (math 8% / reading 37%, grade F, #156 of 332 statewide, top 49%, 383 students, 0% FRL) — zoned schools average 0% FRL vs 58% district-wide (58 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 188 active listings in the ZIP; 173 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Lincoln County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $126k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y ago 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 $300k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $435,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
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 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: 1.68% ✓
• Cap rate: 15.20%
• Cash-on-cash: 31.80%
• DSCR: 2.41
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 26.7%
• Equity multiple: 2.11×
• Total profit: $139,255
• Equity at exit: $66,947

10-year hold

• IRR: 34.3%
• Equity multiple: 4.13×
• Total profit: $393,780
• Equity at exit: $38,821

Cash invested: $125,720 (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 37334

• Home prices YoY: -16.9%
• Active inventory: 188
• Price-to-rent: 34.7×

Monthly cashflow live

• Estimated rent: $7,553 medium
• Mortgage (P&I): −$2,355
• Tax from tax record: −$94 /mo · $1,124/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,586
• Net cashflow: $3,332

Break-even live

Break-even rent $3,336

Max offer price $449,000

Occupancy floor 51%

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

Units	Beds	Baths	Est. rent
▸ 7× units	1	1	$7,553
Total (7 units)			$7,553

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-15
   days on market $449,000 Active 47 DOM
2. 2026-06-13
   days on market $449,000 Active 45 DOM
3. 2026-06-12
   days on market $449,000 Active 44 DOM
4. 2026-06-09
   days on market $449,000 Active 41 DOM
5. 2026-06-08
   days on market $449,000 Active 40 DOM
6. 2026-06-08
   days on market $449,000 Active 39 DOM
7. 2026-06-07
   days on market $449,000 Active 38 DOM
8. 2026-06-03
   days on market $449,000 Active 35 DOM
9. 2026-06-02
   days on market $449,000 Active 34 DOM
10. 2026-06-01
    days on market $449,000 Active 33 DOM
11. 2026-05-31
    days on market $449,000 Active 32 DOM
12. 2026-04-29
    listed $449,000 Active
13. 2026-04-01
    historical 585-char remark

    Show marketing remark (585 chars)

    Prime investment opportunity in the heart of downtown Fayetteville, this fully occupied seven-unit apartment complex features all one-bedroom units that have been recently updated for strong tenant appeal. The property offers stable cash flow today with clear upside potential, as the lower level includes a former laundromat space that presents a value-add opportunity for additional income or conversion to alternative uses. With its central location, modern updates, and built-in growth potential, this property is well positioned for both steady returns and long-term appreciation.

14. 2025-12-04
    price $529,000 585-char remark

    Show marketing remark (585 chars)

    Prime investment opportunity in the heart of downtown Fayetteville, this fully occupied seven-unit apartment complex features all one-bedroom units that have been recently updated for strong tenant appeal. The property offers stable cash flow today with clear upside potential, as the lower level includes a former laundromat space that presents a value-add opportunity for additional income or conversion to alternative uses. With its central location, modern updates, and built-in growth potential, this property is well positioned for both steady returns and long-term appreciation.

15. 2025-09-26
    listed $569,000 Active 585-char remark

    Show marketing remark (585 chars)

    Prime investment opportunity in the heart of downtown Fayetteville, this fully occupied seven-unit apartment complex features all one-bedroom units that have been recently updated for strong tenant appeal. The property offers stable cash flow today with clear upside potential, as the lower level includes a former laundromat space that presents a value-add opportunity for additional income or conversion to alternative uses. With its central location, modern updates, and built-in growth potential, this property is well positioned for both steady returns and long-term appreciation.

16. 2024-12-16
    soldstatus $300,000
17. 2024-12-09
    soldstatus $300,000 Closed 287-char remark

    Show marketing remark (287 chars)

    Investors!!!!!! 7 Unit multi-family complex in Downtown Fayetteville. Within walking distance to grocery stores, banks and restaurants. Gross income $4,760 monthly! All 7 units currently occupied. Laundromat on main floor and has equipment to get working again. Call agent for more info.

18. 2024-11-22
    status Pending 287-char remark

    Show marketing remark (287 chars)

    Investors!!!!!! 7 Unit multi-family complex in Downtown Fayetteville. Within walking distance to grocery stores, banks and restaurants. Gross income $4,760 monthly! All 7 units currently occupied. Laundromat on main floor and has equipment to get working again. Call agent for more info.

19. 2024-11-22
    status Active 287-char remark

    Show marketing remark (287 chars)

    Investors!!!!!! 7 Unit multi-family complex in Downtown Fayetteville. Within walking distance to grocery stores, banks and restaurants. Gross income $4,760 monthly! All 7 units currently occupied. Laundromat on main floor and has equipment to get working again. Call agent for more info.

20. 2024-11-16
    status Pending 287-char remark

    Show marketing remark (287 chars)

    Investors!!!!!! 7 Unit multi-family complex in Downtown Fayetteville. Within walking distance to grocery stores, banks and restaurants. Gross income $4,760 monthly! All 7 units currently occupied. Laundromat on main floor and has equipment to get working again. Call agent for more info.

21. 2024-11-12
    status Active 287-char remark

    Show marketing remark (287 chars)

    Investors!!!!!! 7 Unit multi-family complex in Downtown Fayetteville. Within walking distance to grocery stores, banks and restaurants. Gross income $4,760 monthly! All 7 units currently occupied. Laundromat on main floor and has equipment to get working again. Call agent for more info.

22. 2024-11-10
    status Pending 287-char remark

    Show marketing remark (287 chars)

    Investors!!!!!! 7 Unit multi-family complex in Downtown Fayetteville. Within walking distance to grocery stores, banks and restaurants. Gross income $4,760 monthly! All 7 units currently occupied. Laundromat on main floor and has equipment to get working again. Call agent for more info.

23. 2024-11-08
    listed $300,000 Active 287-char remark

    Show marketing remark (287 chars)

    Investors!!!!!! 7 Unit multi-family complex in Downtown Fayetteville. Within walking distance to grocery stores, banks and restaurants. Gross income $4,760 monthly! All 7 units currently occupied. Laundromat on main floor and has equipment to get working again. Call agent for more info.

24. 2017-01-27
    soldstatus $81,000 Closed
25. 2016-12-21
    historical Contingent - Financing
26. 2016-12-16
    listed $87,500 Active
27. 2009-09-14
    soldstatus $92,000
28. 2006-03-07
    soldstatus $110,000
29. 2000-12-08
    soldstatus $79,000

ⓘ 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: $1,124 · $94/mo
• Projected year-2 tax: $3,188 · $266/mo
• Expected delta: +$2,064/yr (+$172/mo · 183.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% 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: $90,636
• − Mortgage interest: −$25,151
• − Property taxes: −$1,124
• − Insurance: −$2,245
• − Repairs & maintenance: −$7,251
• − Management: −$7,251
• − Depreciation: −$13,062
• Taxable income: $34,552
• Est. tax owed @ 24.0%: −$8,293
• After-tax cash flow: $31,686/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: Fayetteville
• NCES district ID: 4701200
• Math proficiency: 18% ▼ -15.00%
• Reading proficiency: 24% ▼ -3.00%
• Median HH income: $31,291
• Composite: 16.93/100
• National rank: #9138
• State rank: #114 of 139 in TN

Livability — Fayetteville

• Score: 63/100
• State rank: #204
• US rank: #16029

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fayetteville, TN
• City population: 24,168
• Population (ZIP): 24,168

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 34,400 people
• By 2030: 34,550 · +0.4%
• By 2040: 34,345 · -0.2%
• By 2050: 33,310 · -3.2%
• By 2075: 30,199 · -12.2%
• By 2100: 24,960 · -27.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 8% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Serbian 2% Italian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Lincoln

• 2024 margin: Solid R (+64.6) · D 17.2% · R 81.9%
• 2008→2024 swing: -22.5pp toward R · 2008: -42.2pp · 2024: -64.6pp
• All cycles: 2024: R+64.6 2020: R+60.0 2016: R+59.0 2012: R+49.1 2008: R+42.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.76%
• Current HPI: 288.9104
• 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

+468.4% since first listed

18 events — show timeline

• 2026-04-29 Listed $449,000 REALTRACS as Distributed by MLS Grid
• 2026-04-01 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2025-12-04 Price Changed $529,000 REALTRACS as Distributed by MLS Grid
• 2025-09-26 Listed $569,000 REALTRACS as Distributed by MLS Grid
• 2024-12-16 Sold (Public Records) $300,000 Public Records
• 2024-12-09 Sold (MLS) $300,000 REALTRACS as Distributed by MLS Grid
• 2024-11-22 Pending — REALTRACS as Distributed by MLS Grid
• 2024-11-22 Relisted — REALTRACS as Distributed by MLS Grid
• 2024-11-16 Pending — REALTRACS as Distributed by MLS Grid
• 2024-11-12 Relisted — REALTRACS as Distributed by MLS Grid
• 2024-11-10 Pending — REALTRACS as Distributed by MLS Grid
• 2024-11-08 Listed $300,000 REALTRACS as Distributed by MLS Grid
• 2017-01-27 Sold (MLS) $81,000 REALTRACS as Distributed by MLS Grid
• 2016-12-21 Contingent — REALTRACS as Distributed by MLS Grid
• 2016-12-16 Listed $87,500 REALTRACS as Distributed by MLS Grid
• 2009-09-14 Sold (Public Records) $92,000 Public Records
• 2006-03-07 Sold (Public Records) $110,000 Public Records
• 2000-12-08 Sold (Public Records) $79,000 Public Records

Property tax history

-3.3%/yr

Latest (2025): $1,124 · +0.0% YoY. Source: county tax records.