406 Maple Heights St

Kenton, TN 38233

$99,000C+

2 bd · 1.0 ba · 1,812 sqft · Built 1900 · SingleFamily · Active · 111 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,041/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$114
• HOA: −$0
• Vac / Maint / Mgmt: −$219
• Net cashflow: $189/mo
• Annual: $2,272/yr
• Cap rate: 8.59%
• Cash-on-cash: 8.20%
• DSCR: 1.36
• 1% rule: 1.05%
• Cash to close: $27,720

Investor read

• This is a 2-bed/1.0-bath single-family listed at $99k.
• At list price, monthly cash flow is $189 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• It's been on market 111 days — a 9% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $90k (9.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($684 loan paydown + $590 appreciation (0.6% local appreciation)).
• Location reads 58/100 on livability (#309 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B; Watch: health & safety C-, employment D, schools F.
• Gibson County Sp District (rural): math 47% / reading 39% proficiency, ranked #11 of 139 in TN (top 8%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 15 active listings in the ZIP; 155 units permitted in Gibson County in 2024 (0 in 5+ unit buildings).
• Gibson County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.