1604 Lamar St · Athens, TN 37303

$99,900

2 bd · 2.0 ba · 1,276 sqft · Manufactured public records · 10 Days on market

Built 1992 6,969 sqft lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Rent growth +3.9/5.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investment Opportunity - 1604 Lamar St, Athens, TN Attention investors and rehab enthusiasts! This property offers tremendous potential for those looking to renovate and add value. Situated in a convenient Athens location, 1604 Lamar St is being sold ''As Is'' and will require a complete remodel, making it an ideal project for investors, flippers, or buyers seeking to customize a property from the ground up. With a functional layout and strong upside potential, this home presents an opportunity to create equity through renovations and improvements. Conveniently located near shopping, dining, schools, and major roadways, the property provides easy access to everything Athens has to offer.

Key facts

• Complete remodel
• Convenient location
• 6,969 sq ft lot

Tags

• CONVENIENT LOCATION
• COMPLETE REMODEL

Property features AI

Exterior

• Parking: Other parking
• Utilities: Public sewer
• Home design: Attached: No; Single-family property; Building area recorded as 1,276
• Construction: Other construction materials
• Exterior features: Rolling slope lot

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Other heating; Cooling present
• Interior features: Two full bathrooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $405 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 11.2% vs local median 2.8% in Athens — 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 62/100 on livability (#229 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools D-, crime F, amenities F.
• Athens (town): math 38% / reading 33% proficiency, ranked #34 of 139 in TN (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.7%/yr); 273 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 45 units permitted in McMinn County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.7% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. Crime grade is F 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?
4. 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.
5. 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.
6. 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: 1.29% ✓
• Cap rate: 11.15%
• Cash-on-cash: 17.36%
• DSCR: 1.77
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $232,232
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
316 Fisher Street St	0.19mi	3/2.0 (+1)	1,152 (-10%)	10mo	$209,900	$182	62
2000 Velma Rd	0.71mi	3/2.0 (+1)	1,350 (+6%)	8mo	$210,000	$156	46

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 · 5.72% rent growth · sell at horizon

5-year hold

• IRR: 11.5%
• Equity multiple: 1.47×
• Total profit: $13,161
• Equity at exit: $14,895

10-year hold

• IRR: 22.4%
• Equity multiple: 3.15×
• Total profit: $60,192
• Equity at exit: $8,638

Cash invested: $27,972 (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 37303

• Rents YoY: 5.7%
• Active inventory: 273
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,285 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$45 /mo · $541/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $405

Break-even live

Break-even rent $773

Max offer price $99,900

Occupancy floor 64%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2315 Clearwater Rd Athens, TN	3.0	2.0	1600	$1,550	$0.97	43d	1	0.66mi

Listing history 9 events

1. 2026-06-19
   days on market $99,900 Active 10 DOM
2. 2026-06-18
   days on market $99,900 Active 9 DOM
3. 2026-06-17
   days on market $99,900 Active 8 DOM
4. 2026-06-16
   days on market $99,900 Active 7 DOM
5. 2026-06-15
   days on market $99,900 Active 6 DOM
6. 2026-06-14
   days on market $99,900 Active 4 DOM
7. 2026-06-12
   days on market $99,900 Active 3 DOM
8. 2026-06-09
   pricedays on marketlisting id $99,900 Active 1 DOM
9. 2026-05-14
   listed 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: $541 · $45/mo
• Projected year-2 tax: $709 · $59/mo
• Expected delta: +$168/yr (+$14/mo · 31.1%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,420
• − Mortgage interest: −$5,596
• − Property taxes: −$541
• − Insurance: −$500
• − Repairs & maintenance: −$1,234
• − Management: −$1,234
• − Depreciation: −$2,906
• Taxable income: $3,410
• Est. tax owed @ 24.0%: −$818
• After-tax cash flow: $4,036/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: Athens
• NCES district ID: 4700120
• Math proficiency: 38% ▼ -12.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $31,556
• Composite: 29.03/100
• National rank: #6609
• State rank: #34 of 139 in TN

Livability — Athens

• Score: 62/100
• State rank: #229
• US rank: #16961

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Athens, TN
• County: McMinn County · 25,688 people
• City population: 25,688
• Metro: Athens, TN
• Population (ZIP): 25,688
• Household income: $62,078
• Rent vs Own: 29.1% rent · 70.9% own
• Severe rent burden: 450.0

Population outlook (McMinn County) Hauer SSP2

• Today (2025): 53,766 people
• By 2030: 54,098 · +0.6%
• By 2040: 54,450 · +1.3%
• By 2050: 54,202 · +0.8%
• By 2075: 55,241 · +2.7%
• By 2100: 56,399 · +4.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 5% Black 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 2% Slovak 1% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% German/W. Germanic 1% Russian/Polish/Slavic 1%

Political lean MEDSL · McMinn

• 2024 margin: Solid R (+64.2) · D 17.5% · R 81.7%
• 2008→2024 swing: -22.3pp toward R · 2008: -41.9pp · 2024: -64.2pp
• All cycles: 2024: R+64.2 2020: R+60.6 2016: R+59.7 2012: R+46.9 2008: R+41.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -165.98%
• Current HPI: 244.0901
• Rent YoY: ▲ 5.72%
• Metro: Athens, 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

Property tax history

+7.8%/yr

Latest (2025): $541 · +0.0% YoY. Source: county tax records.