1955 Highway 49 E

Charlotte, TN 37036

$149,900B+

2 bd · 2.0 ba · 1,229 sqft · Built 1984 · SingleFamily · Active · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,722/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$124
• HOA: −$0
• Vac / Maint / Mgmt: −$362
• Net cashflow: $450/mo
• Annual: $5,401/yr
• Cap rate: 9.90%
• Cash-on-cash: 12.87%
• DSCR: 1.57
• 1% rule: 1.15%
• Cash to close: $41,972

Investor read

• This is a 2-bed/2.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $450 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• It's been on market 25 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Location reads 65/100 on livability (#141 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment D-.
• Dickson County (rural): math 30% / reading 33% proficiency, ranked #39 of 139 in TN (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Charlotte Elementary (math 32% / reading 30%, grade F, #400 of 952 statewide, top 43%, 616 students, 0% FRL); Charlotte Middle School (math 30% / reading 25%, grade F, #122 of 333 statewide, top 38%, 436 students, 0% FRL); Creek Wood High School (math 22% / reading 39%, grade F, #75 of 332 statewide, top 24%, 933 students, 0% FRL) — zoned schools average 0% FRL vs 45% district-wide (45 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 59 active listings in the ZIP; 376 units permitted in Dickson County in 2024 (5 in 5+ unit buildings).
• Dickson County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 11y 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.
• Current owner paid $80k; list at $150k implies a 87% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.9% vs local median 2.5% in Charlotte — 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.