352 Hickory Grove Blvd · Clarksville, TN 37040

$170,000

4 bd · 2.0 ba · 2,333 sqft · SingleFamily public records · 27 Days on market

Built 1960 1.82 ac lot Est $268k · 37% under

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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 +26.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +6.8/10.0
• Livability +4.2/5.0
• Rent growth +2.8/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NICE OLDER HOME IN POPULAR AREA CLOSE TO RIVERSIDE DR. REVERSE BASEMENT FULLY FINISHED-EFFICENCY APT - 1 BDRM,1 BATH W/KITCHEN, DEN, UTILITY AREA - 3 BDRM, ON MAIN 1 FULL BATH, LARGE KITCHEN-DINING W/KNOTTY PINE, CABINETS & PANELING. GOOD CONDITION.

Key facts

• Investor property
• Almost 2 acres
• 1.82 acre lot

Tags

• ALMOST 2 ACRES
• INVESTOR PROPERTY

Property features AI

Finance

• Other: Lot size approximately 1.82 acres

Exterior

• Parking: Attached parking; Asphalt driveway/parking; Total parking for 5 vehicles (including 1 covered/carport space); 1-car carport
• Utilities: Public water; Public sewer; Electric service available
• Home design: Single-family residential; Two levels; Living area reported as 2,333 total square feet
• Construction: Brick construction; Asphalt roof; Foundation: Other; Year built: Existing
• Exterior features: Patio; Covered patio/porch; Porch; Hilly, sloped lot; Barn(s); Storage structure(s)

Interior

• Kitchen: Electric oven; Electric range; Kitchen approximately 22 x 13
• Bedrooms: 4 bedrooms total; 3 bedrooms on the main level; Bedroom sizes include two at approximately 13 x 11
• Flooring: Carpet; Concrete; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Ceiling fans; Extra closets; Walk-in closets; Partial basement; Fireplace (1)
• Laundry & utility: Electricity available

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $409 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $167k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 3.5% in Clarksville — 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 84/100 on livability (#1 in TN, #798 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment C-, crime D+.
• Montgomery County (urban): math 25% / reading 31% proficiency, ranked #65 of 139 in TN (top 47%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Norman Smith Elementary (math 14% / reading 23%, grade F, #691 of 952 statewide, top 73%, 566 students, 0% FRL); Montgomery Central High (math 6% / reading 40%, grade F, #149 of 332 statewide, top 46%, 1,056 students, 0% FRL) — zoned schools average 0% FRL vs 40% district-wide (40 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.3%/yr); 608 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,583 units permitted in Montgomery County in 2024 (617 in 5+ unit buildings).
• This rent runs 35% of the median local income ($68k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Montgomery County population projected at +49% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago; this cycle's ask has dropped $30k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $116k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/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 $167,450 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D 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: 1.18% ✓
• Cap rate: 9.57%
• Cash-on-cash: 11.70%
• DSCR: 1.52
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $268,295
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1154 Old Charlotte Trce	0.34mi	3/2.5 (-1)	2,106 (-10%)	7mo	$355,000	$169	55
725 Kleeman Dr	0.44mi	3/2.0 (-1)	2,481 (+6%)	12mo	$250,000	$101	54
716 Woodmont Blvd	0.31mi	3/2.0 (-1)	2,014 (-14%)	5mo	$235,000	$117	54
170 Hickory Grove Blvd	0.27mi	3/2.0 (-1)	2,043 (-12%)	14mo	$195,000	$95	50
765 Greenwood Ave	0.66mi	4/2.0	2,040 (-13%)	4mo	$234,365	$115	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.32% rent growth · sell at horizon

5-year hold

• IRR: -2.7%
• Equity multiple: 0.90×
• Total profit: $-4,810
• Equity at exit: $25,348

10-year hold

• IRR: 5.0%
• Equity multiple: 1.34×
• Total profit: $16,262
• Equity at exit: $14,698

Cash invested: $47,600 (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 37040

• Home prices YoY: -22.0%
• Rents YoY: 1.3%
• Active inventory: 608
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,999 high
• Mortgage (P&I): −$891
• Tax from tax record: −$152 /mo · $1,828/yr
• Insurance: −$71
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $409

Break-even live

Break-even rent $1,481

Max offer price $170,000

Occupancy floor 75%

Sensitivity live

Price	-10% $505	-5% $457	+0% $409	+5% $361	+10% $313
Rent	-10% $251	-5% $330	+0% $409	+5% $488	+10% $567
Rate	-1.0pp $494	-0.5pp $452	base $409	+0.5pp $365	+1.0pp $320

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
135 Lawn St Clarksville, TN	4.0	4.0	1783	$2,250	$1.26	14d	1	0.44mi
60 W High St Clarksville, TN	3.0	3.0	1881	$1,695	$0.90	14d	1	0.51mi
947 Clark St Clarksville, TN	3.0	2.0	1800	$1,675	$0.93	22d	1	0.95mi
1282 Jostin Dr Clarksville, TN	4.0	2.5	2257	$2,000	$0.89	22d	1	1.04mi
632 Hidden Valley Dr Clarksville, TN	3.0	2.5	1982	$1,900	$0.96	22d	1	1.31mi
924 E Happy Hollow Dr Clarksville, TN	4.0	4.0	2063	$2,300	$1.11	14d	1	1.39mi

Listing history 14 events

1. 2026-06-10
   status $170,000 Pending 27 DOM
2. 2026-06-09
   days on market $170,000 Active 27 DOM
3. 2026-06-08
   days on market $170,000 Active 26 DOM
4. 2026-06-07
   days on market $170,000 Active 25 DOM
5. 2026-06-05
   days on market $170,000 Active 22 DOM
6. 2026-06-03
   days on market $170,000 Active 21 DOM
7. 2026-06-02
   pricedays on market $170,000 Active 20 DOM
8. 2026-05-31
   days on market $175,000 Active 18 DOM
9. 2026-05-30
   days on market $175,000 Active 17 DOM
10. 2026-05-13
    listed $199,999 Active
11. 2012-09-10
    soldstatus $116,000
12. 2012-09-07
    soldstatus $116,000 253-char remark

    Show marketing remark (253 chars)

    NICE OLDER HOME IN POPULAR AREA CLOSE TO RIVERSIDE DR. REVERSE BASEMENT FULLY FINISHED-EFFICENCY APT - 1 BDRM,1 BATH W/KITCHEN, DEN, UTILITY AREA - 3 BDRM, ON MAIN 1 FULL BATH, LARGE KITCHEN-DINING W/KNOTTY PINE, CABINETS & PANELING. GOOD CONDITION.

13. 2012-08-16
    historical 253-char remark

    Show marketing remark (253 chars)

    NICE OLDER HOME IN POPULAR AREA CLOSE TO RIVERSIDE DR. REVERSE BASEMENT FULLY FINISHED-EFFICENCY APT - 1 BDRM,1 BATH W/KITCHEN, DEN, UTILITY AREA - 3 BDRM, ON MAIN 1 FULL BATH, LARGE KITCHEN-DINING W/KNOTTY PINE, CABINETS & PANELING. GOOD CONDITION.

14. 2011-09-07
    listed $116,900 253-char remark

    Show marketing remark (253 chars)

    NICE OLDER HOME IN POPULAR AREA CLOSE TO RIVERSIDE DR. REVERSE BASEMENT FULLY FINISHED-EFFICENCY APT - 1 BDRM,1 BATH W/KITCHEN, DEN, UTILITY AREA - 3 BDRM, ON MAIN 1 FULL BATH, LARGE KITCHEN-DINING W/KNOTTY PINE, CABINETS & PANELING. GOOD CONDITION.

ⓘ 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: $1,828 · $152/mo
• Projected year-2 tax: $1,828 · $152/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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) · 78% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $23,984
• − Mortgage interest: −$9,523
• − Property taxes: −$1,828
• − Insurance: −$1,516
• − Repairs & maintenance: −$1,919
• − Management: −$1,919
• − Depreciation: −$4,945
• Taxable income: $2,334
• Est. tax owed @ 24.0%: −$560
• After-tax cash flow: $4,345/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: Montgomery County
• NCES district ID: 4703030
• Math proficiency: 25% ▼ -20.00%
• Reading proficiency: 31% ▼ -10.00%
• Median HH income: $50,423
• Composite: 24.56/100
• National rank: #7641
• State rank: #65 of 139 in TN

Livability — Clarksville

• Score: 84/100
• State rank: #1
• US rank: #798

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clarksville, TN
• County: Montgomery County · 211,371 people
• City population: 211,371
• Metro: Clarksville, TN-KY
• Population (ZIP): 64,977
• Household income: $67,745
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 2670.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 236,633 people
• By 2030: 258,978 · +9.4%
• By 2040: 305,456 · +29.1%
• By 2050: 353,147 · +49.2%
• By 2075: 471,289 · +99.2%
• By 2100: 564,122 · +138.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 56% Black 25% Two or more races 11% Hispanic / Latino 10% Asian 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Italian 4% Lithuanian 1% Slovak 1%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 90% English-only · Spanish 5% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Montgomery

• 2024 margin: R (+18.4) · D 40.0% · R 58.5% · Other 1.5%
• 2008→2024 swing: -10.5pp toward R · 2008: -7.9pp · 2024: -18.4pp
• All cycles: 2024: R+18.4 2020: R+12.7 2016: R+18.6 2012: R+10.5 2008: R+7.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.79%
• Current HPI: 269.0601
• Rent YoY: ▲ 1.32%
• Metro: Clarksville, TN-KY
• 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

+71.1% since first listed

5 events — show timeline

• 2026-05-13 Listed $199,999 REALTRACS as Distributed by MLS Grid
• 2012-09-10 Sold (Public Records) $116,000 Public Records
• 2012-09-07 Sold (MLS) $116,000 REALTRACS as Distributed by MLS Grid
• 2012-08-16 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2011-09-07 Listed $116,900 REALTRACS as Distributed by MLS Grid

Property tax history

+11.6%/yr

Latest (2025): $1,828 · +1.4% YoY. Source: county tax records.