116 Driftwood Rd · Counce, TN 38326

$219,900

3 bd · 2.0 ba · 1,904 sqft · Condo public records · 188 Days on market

Built 1990 $115/sqft · 72% below area

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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 +16.8/30.0
• Appreciation +8.6/10.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

This charming 3br 2ba condo offers a perfect blend of comfort and convenience with stunning views of the spring-fed lake. The main level features a spacious, vaulted living with cozy gas fireplace and stylish LVP flooring. A convenient bar area complements the open layout, perfect for entertaining. The kitchen is efficiently designed for all your culinary needs, while the master suite provides a private haven. Upstairs you will find a guest bedroom, a loft-style bedroom, a shared bath and access onto a large walk-out balcony. The condo association handles all exterior and grounds/maintenance along with city water, insurance on the building and the community pool. Sold partially furnished.

Key facts

• Cozy gas fireplace
• Stunning views
• Vaulted living

Tags

• STUNNING VIEWS
• VAULTED LIVING
• COZY GAS FIREPLACE
• STYLISH LVP FLOORING
• CONVENIENT BAR AREA
• EFFICIENTLY DESIGNED KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $220k.

Deal economics

• At list price, monthly cash flow is $76 ($908/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 $184k (16.5% below list).
• Recommended offer: $184k (16.5% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 2.5% in Counce — 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.
• Hardin County (rural): math 27% / reading 28% proficiency, ranked #76 of 139 in TN (top 55%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 125 active listings in the ZIP; 24 units permitted in Hardin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($2k loan paydown + $16k appreciation (7.2% local appreciation)).
• Hardin County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.2% appreciation + 3.0% rent growth), your $62k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, 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 188 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $70k; list at $220k implies a 214% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $183,618 (16.5% below list)

Questions for the listing agent

1. It's been on market 188 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.84% ✗
• Cap rate: 7.07%
• Cash-on-cash: 2.77%
• DSCR: 1.12
• GRM: 10.0

CMA / ARV

• ARV (median comp): $772,500
• List price: $219,900
• Delta: -71.53%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

7.21% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.3%
• Equity multiple: 2.37×
• Total profit: $84,390
• Equity at exit: $155,412

10-year hold

• IRR: 18.3%
• Equity multiple: 4.92×
• Total profit: $241,312
• Equity at exit: $297,995

Cash invested: $61,572 (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 38326

• Home prices YoY: 2.4%
• Active inventory: 125
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,836 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$64 /mo · $764/yr
• Insurance: −$92
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $76

Break-even live

Break-even rent $1,740

Max offer price $219,900

Occupancy floor 91%

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: watergaslandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $219,900 Active 188 DOM
2. 2026-06-17
   days on market $219,900 Active 187 DOM
3. 2026-06-16
   days on market $219,900 Active 186 DOM
4. 2026-06-15
   days on market $219,900 Active 185 DOM
5. 2026-06-13
   days on market $219,900 Active 183 DOM
6. 2026-06-12
   days on market $219,900 Active 182 DOM
7. 2026-06-09
   days on market $219,900 Active 179 DOM
8. 2026-06-08
   days on market $219,900 Active 178 DOM
9. 2026-06-08
   days on market $219,900 Active 177 DOM
10. 2026-06-07
    days on market $219,900 Active 176 DOM
11. 2026-06-03
    days on market $219,900 Active 173 DOM
12. 2026-06-02
    days on market $219,900 Active 172 DOM
13. 2026-06-01
    days on market $219,900 Active 171 DOM
14. 2026-05-31
    days on market $219,900 Active 170 DOM
15. 2025-12-12
    listed $219,900 Active 697-char remark

    Show marketing remark (697 chars)

    This charming 3br 2ba condo offers a perfect blend of comfort and convenience with stunning views of the spring-fed lake. The main level features a spacious, vaulted living with cozy gas fireplace and stylish LVP flooring. A convenient bar area complements the open layout, perfect for entertaining. The kitchen is efficiently designed for all your culinary needs, while the master suite provides a private haven. Upstairs you will find a guest bedroom, a loft-style bedroom, a shared bath and access onto a large walk-out balcony. The condo association handles all exterior and grounds/maintenance along with city water, insurance on the building and the community pool. Sold partially furnished.

16. 2025-12-12
    listed $219,900 Active 697-char remark

    Show marketing remark (697 chars)

    This charming 3br 2ba condo offers a perfect blend of comfort and convenience with stunning views of the spring-fed lake. The main level features a spacious, vaulted living with cozy gas fireplace and stylish LVP flooring. A convenient bar area complements the open layout, perfect for entertaining. The kitchen is efficiently designed for all your culinary needs, while the master suite provides a private haven. Upstairs you will find a guest bedroom, a loft-style bedroom, a shared bath and access onto a large walk-out balcony. The condo association handles all exterior and grounds/maintenance along with city water, insurance on the building and the community pool. Sold partially furnished.

17. 2004-01-09
    soldstatus $70,000
18. 1998-11-23
    soldstatus $115,000

ⓘ 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: $764 · $64/mo
• Projected year-2 tax: $1,561 · $130/mo
• Expected delta: +$797/yr (+$66/mo · 104.4%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% 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: $22,034
• − Mortgage interest: −$12,318
• − Property taxes: −$764
• − Insurance: −$1,897
• − Repairs & maintenance: −$1,763
• − Management: −$1,763
• − Depreciation: −$6,397
• Taxable loss: −$2,867
• Est. tax savings @ 24.0%: +$688
• After-tax cash flow: $1,596/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: Hardin County
• NCES district ID: 4701680
• Math proficiency: 27% ▼ -1.00%
• Reading proficiency: 28% ▼ -1.00%
• Median HH income: $34,404
• Composite: 22.64/100
• National rank: #8061
• State rank: #76 of 139 in TN

Livability — Counce

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

Census & demographics

• Population (ZIP): 2,566

Population outlook (Hardin County) Hauer SSP2

• Today (2025): 24,740 people
• By 2030: 23,971 · -3.1%
• By 2040: 22,284 · -9.9%
• By 2050: 20,612 · -16.7%
• By 2075: 17,072 · -31.0%
• By 2100: 13,723 · -44.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Italian 5% Lithuanian 3% Slovak 3%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Hardin

• 2024 margin: Solid R (+71.0) · D 14.1% · R 85.1%
• 2008→2024 swing: -28.3pp toward R · 2008: -42.7pp · 2024: -71.0pp
• All cycles: 2024: R+71.0 2020: R+67.5 2016: R+64.2 2012: R+51.6 2008: R+42.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.21%
• Current HPI: 303.1462
• 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

+91.2% since first listed

4 events — show timeline

• 2025-12-12 Listed $219,900 REALTRACS as Distributed by MLS Grid
• 2025-12-12 Listed $219,900 Memphis Area Association of Realtors(R) MLS
• 2004-01-09 Sold (Public Records) $70,000 Public Records
• 1998-11-23 Sold (Public Records) $115,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $764 · +0.0% YoY. Source: county tax records.