2062 College St · Milan, TN 38358

$65,000

1 bd · 1.0 ba · 640 sqft · SingleFamily public records · 10 Days on market

Built 1949 6,148 sqft lot

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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 +29.0/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking to build an INVESTMENT PORTFOLIO? Start here. This property may be purchased individually or as part of a package with 2139 Dedmon St and 2062 College St--also in Milan--for $225,000. Get one, two or all three. All information deemed accurate but is not warranted by the seller, company or REALTOR. This document is to be used for reference only and is not a valid part of the listing agreement between the buyer and seller. Square footage to be determined by appraiser.

Key facts

• 6,148 sq ft lot
• Parking
• Built 1949

Property features AI

Exterior

• Parking: One parking space
• Utilities: Public water
• Home design: Single-family residence, one level
• Exterior features: Lot dimensions approximately 53 x 116

Interior

• Bedrooms: One bedroom on the main level
• Interior features: Two total rooms

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($774 rent vs $65k).

Location & tenants

• Location reads 68/100 on livability (#78 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools D-, crime F, amenities F.
• Milan (rural): math 36% / reading 26% proficiency, ranked #55 of 139 in TN (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 82 active listings in the ZIP; 155 units permitted in Gibson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Gibson County population projected to shrink 8% 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 $18k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1949 — 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 $65,000

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.19% ✓
• Cap rate: 10.42%
• Cash-on-cash: 14.73%
• DSCR: 1.66
• GRM: 7.0

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: 5.2%
• Equity multiple: 1.20×
• Total profit: $3,668
• Equity at exit: $9,692

10-year hold

• IRR: 14.6%
• Equity multiple: 2.18×
• Total profit: $21,409
• Equity at exit: $5,620

Cash invested: $18,200 (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 38358

• Home prices YoY: -24.4%
• Active inventory: 82
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $774 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$20 /mo · $241/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$163
• Net cashflow: $223

Break-even live

Break-even rent $491

Max offer price $65,000

Occupancy floor 66%

Sensitivity live

Price	-10% $260	-5% $242	+0% $223	+5% $205	+10% $187
Rent	-10% $162	-5% $193	+0% $223	+5% $254	+10% $285
Rate	-1.0pp $256	-0.5pp $240	base $223	+0.5pp $207	+1.0pp $189

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   days on market $65,000 Active 10 DOM
2. 2026-06-21
   days on market $65,000 Active 9 DOM
3. 2026-06-18
   days on market $65,000 Active 7 DOM
4. 2026-06-17
   days on market $65,000 Active 6 DOM
5. 2026-06-16
   days on market $65,000 Active 5 DOM
6. 2026-06-15
   days on market $65,000 Active 4 DOM
7. 2026-06-13
   days on market $65,000 Active 2 DOM
8. 2026-06-12
   remarks 478-char remark
9. 2026-06-12
   listed $65,000 Active 1 DOM

ⓘ 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: $241 · $20/mo
• Projected year-2 tax: $462 · $38/mo
• Expected delta: +$220/yr (+$18/mo · 91.5%)

ⓘ 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 6/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% 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: $9,287
• − Mortgage interest: −$3,641
• − Property taxes: −$241
• − Insurance: −$325
• − Repairs & maintenance: −$743
• − Management: −$743
• − Depreciation: −$1,891
• Taxable income: $1,703
• Est. tax owed @ 24.0%: −$409
• After-tax cash flow: $2,272/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: Milan
• NCES district ID: 4702970
• Math proficiency: 36% ▼ -16.00%
• Reading proficiency: 26% ▼ -11.00%
• Median HH income: $36,434
• Composite: 25.79/100
• National rank: #7365
• State rank: #55 of 139 in TN

Livability — Milan

• Score: 68/100
• State rank: #78
• US rank: #9084

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milan, TN
• City population: 12,511
• Population (ZIP): 12,511

Population outlook (Gibson County) Hauer SSP2

• Today (2025): 48,793 people
• By 2030: 48,221 · -1.2%
• By 2040: 46,793 · -4.1%
• By 2050: 44,909 · -8.0%
• By 2075: 40,191 · -17.6%
• By 2100: 33,574 · -31.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 17% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Iranian 2% Romanian 2%
• Foreign-born: 2% · Canada

Political lean MEDSL · Gibson

• 2024 margin: Solid R (+52.0) · D 23.6% · R 75.5%
• 2008→2024 swing: -23.2pp toward R · 2008: -28.8pp · 2024: -52.0pp
• All cycles: 2024: R+52.0 2020: R+47.0 2016: R+43.8 2012: R+32.1 2008: R+28.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.28%
• Current HPI: 208.8671
• 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

-61.8% since first listed

2 events — show timeline

• 2026-06-09 Listed $65,000 CWTAR
• 2021-09-27 Sold (Public Records) $170,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $241 · +186.9% YoY. Source: county tax records.