3113 Setting Sun Dr · Thompson's Station, TN 37179

$499,900

3 bd · 3.5 ba · 2,067 sqft · Other public records · 512 Days on market

Built 2025 $242/sqft · 29% below area Est $668k · 25% under ↓ 13% 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).

• ARV discount +15.0/15.0
• Cash flow +13.1/30.0
• Schools +5.5/10.0
• Rent growth +5.0/5.0
• DSCR +3.9/10.0
• 1% rule +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Multiple Offer Disclosure and Notice: Final, highest and best due 3:00PM Feb 18, 2026. Here’s your chance to get into highly desirable Tollgate Village. Thoughtfully upgraded beyond builder grade, this 3-bed, 3.5-bath townhome offers elevated, move-in-ready living with an attached 2-car garage. The modern three-story layout features open-concept living with 9-foot ceilings, a spacious kitchen with stainless appliances, a breakfast area, and a spacious second-story deck off the kitchen. Owner-added enhancements include additional recessed lighting, custom window shades, pantry upgrades, and a professionally built-out primary closet system, providing the finishes and conveniences you often wish for after buying new construction. Set in the heart of Tollgate’s walkable Town Center, you’re steps from Mojo’s Tacos, coffee shops, salons, hardware store, medical and dental offices, and other local favorites. Zoned for top-rated Williamson County schools and within walking distance to Independence High School. With the next phase of townhomes not expected until 2026 and at a higher projected price point, this is an excellent opportunity to enjoy the Tollgate lifestyle now. Flexible use options make this property equally ideal as a primary residence or a long-term investment.

Key facts

• Front porch living
• Gourmet kitchen
• Walk-in closets

Tags

• FRONT PORCH LIVING
• GOURMET KITCHEN
• OPEN GREAT ROOM
• PRIVATE BATHROOM
• WALK-IN CLOSETS

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath other listed at $500k.

Deal economics

• At list price, monthly cash flow is $-17 ($-204/yr) — negative.
• To cash-flow at today's rent, offer at most $497k (0.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $376k (24.9% below list).
• Recommended offer: $376k (24.9% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 1.5% in Thompson's Station — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Williamson County (rural): math 58% / reading 59% proficiency, ranked #1 of 139 in TN (top 1%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 9% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+11.0%/yr); 351 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,994 units permitted in Williamson County in 2024 (637 in 5+ unit buildings).
• This rent runs 33% of the median local income ($136k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Williamson County population projected at +59% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 512 days — a 12% lower offer ($440k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 2y 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.

Recommended offer $375,581 (24.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 512 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
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. 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: 0.75% ✗
• Cap rate: 6.25%
• Cash-on-cash: -0.15%
• DSCR: 0.99
• GRM: 11.1

CMA / ARV

• ARV (median comp): $667,800
• List price: $499,900
• Delta: -25.14%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.55×
• Total profit: $-62,471
• Equity at exit: $74,537

10-year hold

• IRR: 2.8%
• Equity multiple: 1.24×
• Total profit: $33,603
• Equity at exit: $43,222

Cash invested: $139,972 (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 37179

• Home prices YoY: -25.7%
• Rents YoY: 11.0%
• Active inventory: 351
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $3,756 high
• Mortgage (P&I): −$2,622
• Tax from tax record: −$154 /mo · $1,851/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$789
• Net cashflow: $-17

Break-even live

Break-even rent $3,777

Max offer price $496,900

Occupancy floor 95%

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2012 Tollgate Blvd Thompsons Station, TN	2.0	3.0	2120	$5,000	$2.36	23d	1	0.04mi
2017 Bungalow Dr Thompsons Station, TN	3.0	2.5	1723	$2,800	$1.63	43d	1	0.24mi
3267 Vinemont Dr Thompsons Station, TN	4.0	3.5	2491	$4,200	$1.69	43d	1	0.48mi
2531 Tapestry St Thompsons Station, TN	4.0	3.0	2566	$3,950	$1.54	43d	1	0.70mi
1477 Channing Dr Thompsons Station, TN	3.0	2.5	1750	$2,950	$1.69	43d	1	0.96mi
1623 Hampshire Pl Thompsons Station, TN	3.0	2.5	1921	$2,950	$1.54	11d	1	0.97mi

Listing history 36 events

1. 2026-06-18
   days on market $499,900 Active 512 DOM
2. 2026-06-17
   days on market $499,900 Active 511 DOM
3. 2026-06-16
   days on market $499,900 Active 510 DOM
4. 2026-06-15
   days on market $499,900 Active 509 DOM
5. 2026-06-13
   days on market $499,900 Active 507 DOM
6. 2026-06-13
   days on market $499,900 Active 506 DOM
7. 2026-06-09
   days on market $499,900 Active 503 DOM
8. 2026-06-08
   days on market $499,900 Active 502 DOM
9. 2026-06-07
   days on market $499,900 Active 501 DOM
10. 2026-06-02
    days on market $499,900 Active 496 DOM
11. 2026-06-01
    days on market $499,900 Active 495 DOM
12. 2026-05-31
    days on market $499,900 Active 494 DOM
13. 2026-03-20
    soldstatus $494,900
14. 2026-03-18
    soldstatus $494,900 Closed 1312-char remark

    Show marketing remark (1312 chars)

    Multiple Offer Disclosure and Notice: Final, highest and best due 3:00PM Feb 18, 2026. Here’s your chance to get into highly desirable Tollgate Village. Thoughtfully upgraded beyond builder grade, this 3-bed, 3.5-bath townhome offers elevated, move-in-ready living with an attached 2-car garage. The modern three-story layout features open-concept living with 9-foot ceilings, a spacious kitchen with stainless appliances, a breakfast area, and a spacious second-story deck off the kitchen. Owner-added enhancements include additional recessed lighting, custom window shades, pantry upgrades, and a professionally built-out primary closet system, providing the finishes and conveniences you often wish for after buying new construction. Set in the heart of Tollgate’s walkable Town Center, you’re steps from Mojo’s Tacos, coffee shops, salons, hardware store, medical and dental offices, and other local favorites. Zoned for top-rated Williamson County schools and within walking distance to Independence High School. With the next phase of townhomes not expected until 2026 and at a higher projected price point, this is an excellent opportunity to enjoy the Tollgate lifestyle now. Flexible use options make this property equally ideal as a primary residence or a long-term investment.

15. 2026-02-18
    historical Active Under Contract 1312-char remark

    Show marketing remark (1312 chars)

    Multiple Offer Disclosure and Notice: Final, highest and best due 3:00PM Feb 18, 2026. Here’s your chance to get into highly desirable Tollgate Village. Thoughtfully upgraded beyond builder grade, this 3-bed, 3.5-bath townhome offers elevated, move-in-ready living with an attached 2-car garage. The modern three-story layout features open-concept living with 9-foot ceilings, a spacious kitchen with stainless appliances, a breakfast area, and a spacious second-story deck off the kitchen. Owner-added enhancements include additional recessed lighting, custom window shades, pantry upgrades, and a professionally built-out primary closet system, providing the finishes and conveniences you often wish for after buying new construction. Set in the heart of Tollgate’s walkable Town Center, you’re steps from Mojo’s Tacos, coffee shops, salons, hardware store, medical and dental offices, and other local favorites. Zoned for top-rated Williamson County schools and within walking distance to Independence High School. With the next phase of townhomes not expected until 2026 and at a higher projected price point, this is an excellent opportunity to enjoy the Tollgate lifestyle now. Flexible use options make this property equally ideal as a primary residence or a long-term investment.

16. 2026-01-17
    price $494,900 1312-char remark

    Show marketing remark (1312 chars)

    Multiple Offer Disclosure and Notice: Final, highest and best due 3:00PM Feb 18, 2026. Here’s your chance to get into highly desirable Tollgate Village. Thoughtfully upgraded beyond builder grade, this 3-bed, 3.5-bath townhome offers elevated, move-in-ready living with an attached 2-car garage. The modern three-story layout features open-concept living with 9-foot ceilings, a spacious kitchen with stainless appliances, a breakfast area, and a spacious second-story deck off the kitchen. Owner-added enhancements include additional recessed lighting, custom window shades, pantry upgrades, and a professionally built-out primary closet system, providing the finishes and conveniences you often wish for after buying new construction. Set in the heart of Tollgate’s walkable Town Center, you’re steps from Mojo’s Tacos, coffee shops, salons, hardware store, medical and dental offices, and other local favorites. Zoned for top-rated Williamson County schools and within walking distance to Independence High School. With the next phase of townhomes not expected until 2026 and at a higher projected price point, this is an excellent opportunity to enjoy the Tollgate lifestyle now. Flexible use options make this property equally ideal as a primary residence or a long-term investment.

17. 2026-01-07
    price $504,900 1312-char remark

    Show marketing remark (1312 chars)

    Multiple Offer Disclosure and Notice: Final, highest and best due 3:00PM Feb 18, 2026. Here’s your chance to get into highly desirable Tollgate Village. Thoughtfully upgraded beyond builder grade, this 3-bed, 3.5-bath townhome offers elevated, move-in-ready living with an attached 2-car garage. The modern three-story layout features open-concept living with 9-foot ceilings, a spacious kitchen with stainless appliances, a breakfast area, and a spacious second-story deck off the kitchen. Owner-added enhancements include additional recessed lighting, custom window shades, pantry upgrades, and a professionally built-out primary closet system, providing the finishes and conveniences you often wish for after buying new construction. Set in the heart of Tollgate’s walkable Town Center, you’re steps from Mojo’s Tacos, coffee shops, salons, hardware store, medical and dental offices, and other local favorites. Zoned for top-rated Williamson County schools and within walking distance to Independence High School. With the next phase of townhomes not expected until 2026 and at a higher projected price point, this is an excellent opportunity to enjoy the Tollgate lifestyle now. Flexible use options make this property equally ideal as a primary residence or a long-term investment.

18. 2025-12-08
    listed $515,000 Active 1312-char remark

    Show marketing remark (1312 chars)

    Multiple Offer Disclosure and Notice: Final, highest and best due 3:00PM Feb 18, 2026. Here’s your chance to get into highly desirable Tollgate Village. Thoughtfully upgraded beyond builder grade, this 3-bed, 3.5-bath townhome offers elevated, move-in-ready living with an attached 2-car garage. The modern three-story layout features open-concept living with 9-foot ceilings, a spacious kitchen with stainless appliances, a breakfast area, and a spacious second-story deck off the kitchen. Owner-added enhancements include additional recessed lighting, custom window shades, pantry upgrades, and a professionally built-out primary closet system, providing the finishes and conveniences you often wish for after buying new construction. Set in the heart of Tollgate’s walkable Town Center, you’re steps from Mojo’s Tacos, coffee shops, salons, hardware store, medical and dental offices, and other local favorites. Zoned for top-rated Williamson County schools and within walking distance to Independence High School. With the next phase of townhomes not expected until 2026 and at a higher projected price point, this is an excellent opportunity to enjoy the Tollgate lifestyle now. Flexible use options make this property equally ideal as a primary residence or a long-term investment.

19. 2025-03-10
    soldstatus $499,900 Closed 848-char remark

    Show marketing remark (848 chars)

    Seller will pay $7,500 of Buyers Closing Costs.. This property can close in 30 days, This Brand New Townhome, The Highland, is a Fabulous 3 Bedroom, 3.5 Bathroom, 2 Car Garage Property in Tollgate Village Town Center with an innovative townhome design for a contemporary lifestyle. This three-story plan boasts thoughtful design with open-concept living for easy entertaining, along with a chef’s kitchen and breakfast area and large 2nd story deck off the kitchen. Amenities include nine-foot ceilings, 2 car attached garage, stainless steel appliance package, and more! This Townhome is right in the middle of walkable Restuarants, Salons, Dental and Medical Offices. There is Tollgate Wine and Spirits and the Stretch Zone along with Coffe Shops, Sandwich Shops, Nail Salons and more. It realy dosent get any better than Tollgate Village.

20. 2025-02-12
    status Pending 848-char remark

    Show marketing remark (848 chars)

    Seller will pay $7,500 of Buyers Closing Costs.. This property can close in 30 days, This Brand New Townhome, The Highland, is a Fabulous 3 Bedroom, 3.5 Bathroom, 2 Car Garage Property in Tollgate Village Town Center with an innovative townhome design for a contemporary lifestyle. This three-story plan boasts thoughtful design with open-concept living for easy entertaining, along with a chef’s kitchen and breakfast area and large 2nd story deck off the kitchen. Amenities include nine-foot ceilings, 2 car attached garage, stainless steel appliance package, and more! This Townhome is right in the middle of walkable Restuarants, Salons, Dental and Medical Offices. There is Tollgate Wine and Spirits and the Stretch Zone along with Coffe Shops, Sandwich Shops, Nail Salons and more. It realy dosent get any better than Tollgate Village.

21. 2025-01-22
    listed $499,900 Active
22. 2025-01-03
    listed $499,900 Active 848-char remark

    Show marketing remark (848 chars)

    Seller will pay $7,500 of Buyers Closing Costs.. This property can close in 30 days, This Brand New Townhome, The Highland, is a Fabulous 3 Bedroom, 3.5 Bathroom, 2 Car Garage Property in Tollgate Village Town Center with an innovative townhome design for a contemporary lifestyle. This three-story plan boasts thoughtful design with open-concept living for easy entertaining, along with a chef’s kitchen and breakfast area and large 2nd story deck off the kitchen. Amenities include nine-foot ceilings, 2 car attached garage, stainless steel appliance package, and more! This Townhome is right in the middle of walkable Restuarants, Salons, Dental and Medical Offices. There is Tollgate Wine and Spirits and the Stretch Zone along with Coffe Shops, Sandwich Shops, Nail Salons and more. It realy dosent get any better than Tollgate Village.

23. 2024-12-31
    historical
24. 2024-11-21
    listed $499,900 Active
25. 2024-11-19
    historical
26. 2024-10-08
    price $499,900
27. 2024-08-31
    historical
28. 2024-08-31
    listed $539,900 Active
29. 2024-08-28
    price $539,900
30. 2024-07-11
    historical
31. 2024-07-11
    listed $564,875 Active
32. 2024-05-18
    listed $564,875 Active
33. 2024-05-01
    historical
34. 2024-02-13
    price $564,875
35. 2024-02-01
    price $557,900
36. 2024-01-05
    listed $567,900 Active

ⓘ 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: $1,851 · $154/mo
• Projected year-2 tax: $3,549 · $296/mo
• Expected delta: +$1,698/yr (+$142/mo · 91.7%)

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

Taxation est. · year 1

• Rental income: $45,070
• − Mortgage interest: −$28,002
• − Property taxes: −$1,851
• − Insurance: −$2,500
• − Repairs & maintenance: −$3,606
• − Management: −$3,606
• − Depreciation: −$14,543
• Taxable loss: −$9,037
• Est. tax savings @ 24.0%: +$2,169
• After-tax cash flow: $1,965/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: Williamson County
• NCES district ID: 4704530
• Math proficiency: 58% ▼ -13.00%
• Reading proficiency: 59% ▼ -8.00%
• Median HH income: $103,392
• Composite: 54.94/100
• National rank: #1307
• State rank: #1 of 139 in TN

Livability — Thompson's Station

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Thompson's Station, TN
• County: Williamson County · 237,211 people
• City population: 17,411
• Metro: Nashville-Davidson--Murfreesboro--Franklin, TN
• Population (ZIP): 18,043
• Household income: $136,188
• Rent vs Own: 13.3% rent · 86.7% own
• Severe rent burden: 88.0

Population outlook (Williamson County) Hauer SSP2

• Today (2025): 275,925 people
• By 2030: 308,630 · +11.9%
• By 2040: 374,403 · +35.7%
• By 2050: 438,644 · +59.0%
• By 2075: 592,763 · +114.8%
• By 2100: 691,828 · +150.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 11% Hispanic / Latino 5% Asian 2% Black 1%
• Common ancestry: Slovak 3% Romanian 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Asian/Pacific 1% Arabic 1%

Political lean MEDSL · Williamson

• 2024 margin: Solid R (+32.4) · D 33.0% · R 65.4% · Other 1.7%
• 2008→2024 swing: +7.1pp toward D · 2008: -39.5pp · 2024: -32.4pp
• All cycles: 2024: R+32.4 2020: R+26.1 2016: R+35.5 2012: R+46.8 2008: R+39.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.20%
• Current HPI: 344.7933
• Rent YoY: ▲ 10.96%
• Metro: Nashville-Davidson--Murfreesboro--Franklin, 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

-12.9% since first listed

24 events — show timeline

• 2026-03-20 Sold (Public Records) $494,900 Public Records
• 2026-03-18 Sold (MLS) $494,900 REALTRACS as Distributed by MLS Grid
• 2026-02-18 Contingent — REALTRACS as Distributed by MLS Grid
• 2026-01-17 Price Changed $494,900 REALTRACS as Distributed by MLS Grid
• 2026-01-07 Price Changed $504,900 REALTRACS as Distributed by MLS Grid
• 2025-12-08 Listed $515,000 REALTRACS as Distributed by MLS Grid
• 2025-03-10 Sold (MLS) $499,900 REALTRACS as Distributed by MLS Grid
• 2025-02-12 Pending — REALTRACS as Distributed by MLS Grid
• 2025-01-22 Listed $499,900 Zillow
• 2025-01-03 Listed $499,900 REALTRACS as Distributed by MLS Grid
• 2024-12-31 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2024-11-21 Listed $499,900 REALTRACS as Distributed by MLS Grid
• 2024-11-19 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2024-10-08 Price Changed $499,900 REALTRACS as Distributed by MLS Grid
• 2024-08-31 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2024-08-31 Listed $539,900 REALTRACS as Distributed by MLS Grid
• 2024-08-28 Price Changed $539,900 REALTRACS as Distributed by MLS Grid
• 2024-07-11 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2024-07-11 Listed $564,875 REALTRACS as Distributed by MLS Grid
• 2024-05-18 Listed $564,875 REALTRACS as Distributed by MLS Grid
• 2024-05-01 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2024-02-13 Price Changed $564,875 REALTRACS as Distributed by MLS Grid
• 2024-02-01 Price Changed $557,900 REALTRACS as Distributed by MLS Grid
• 2024-01-05 Listed $567,900 REALTRACS as Distributed by MLS Grid

Property tax history

+109.7%/yr

Latest (2025): $1,851 · +49.3% YoY. Source: county tax records.