1602 Columbia Ave · Columbia, TN 38401

$214,900

3 bd · 1.0 ba · 1,792 sqft · SingleFamily public records · 34 Days on market

Built 1942 6,969 sqft lot Est $312k · 31% under

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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 +16.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• Rent growth +3.7/5.0
• 1% rule +3.4/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Cozy home in a great location less than 5 minutes to Columbia's Downtown Square. This 3 Bed / 1 Full Bath home has been freshly painted with new carpet and has a full unfinished basement. Sand and finish hardwood floors and tile throughout. Granite in bath and kitchen. ATMOS gas heat and water. Nice size lot. Roof and Gutters less than 4 years old and come with warranties. All new windows approximately 3 years old. Property being sold As-Is. Easy to show!

Key facts

• Tile throughout
• Granite in bath
• Granite in kitchen

Tags

• FULL UNFINISHED BASEMENT
• HARDWOOD FLOORS
• TILE THROUGHOUT
• GRANITE IN BATH
• GRANITE IN KITCHEN
• GAS HEAT

Property features AI

Finance

• Other: Living area about 1,311 square feet; Lot size about 0.16 acres

Exterior

• Parking: No covered or designated parking spaces reported
• Utilities: Public water; Public sewer; Electricity available; Natural gas available
• Home design: Single-family residence; Two levels; Residential property
• Construction: Vinyl siding; Shingle roof; Existing (previously built)
• Exterior features: Level lot; Lot dimensions approximately 50 x 150

Interior

• Kitchen: Electric oven
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet; Wood; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (natural gas); Central air conditioning (electric)
• Interior features: Built-in features; Ceiling fans
• Laundry & utility: Washer hookup; Electric dryer hookup; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $108 ($1k/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 $181k (15.9% below list).
• Recommended offer: $181k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 2.8% in Columbia — 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 63/100 on livability (#207 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, crime F.
• Maury County (town): math 19% / reading 21% proficiency, ranked #108 of 139 in TN (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Highland Park Elementary (math 22% / reading 17%, grade F, #654 of 952 statewide, top 72%, 291 students, 0% FRL); Whitthorne Middle School (math 8% / reading 12%, grade F, #257 of 333 statewide, top 78%, 932 students, 0% FRL); Columbia Central High School (math 7% / reading 27%, grade F, #225 of 332 statewide, top 69%, 1,474 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+5.0%/yr); 1129 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,650 units permitted in Maury County in 2024 (60 in 5+ unit buildings).
• This rent runs 32% 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 $6k of value loss. Plan a longer hold.
• Maury County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($208k) 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 $32k; list at $215k implies a 572% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $180,736 (15.9% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 0.84% ✗
• Cap rate: 6.90%
• Cash-on-cash: 2.16%
• DSCR: 1.10
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $311,808
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1119 High St S	0.54mi	3/2.5	1,827 (+2%)	2mo	$640,000	$350	63
1503 Carmack Blvd	0.42mi	3/2.5	1,716 (-4%)	5mo	$290,000	$169	63
403 W 13th St	0.23mi	2/2.0 (-1)	1,600 (-11%)	0mo	$236,500	$148	62
2315 Highland Ave	0.74mi	3/1.5	1,800 (+0%)	2mo	$239,900	$133	61
1010 S High St	0.66mi	2/1.0 (-1)	1,800 (+0%)	4mo	$375,000	$208	60
1210 School St	0.40mi	3/2.0	1,716 (-4%)	20mo	$375,000	$219	54
1504 Highland Ave	0.23mi	3/2.0	1,583 (-12%)	20mo	$260,000	$164	50
1111 School St	0.52mi	3/2.5	1,841 (+3%)	20mo	$320,000	$174	49
1912 Lynnwood Dr	0.46mi	3/2.0	1,599 (-11%)	14mo	$250,000	$156	45
1836 Dimple Ct	0.31mi	3/2.0	1,545 (-14%)	16mo	$274,000	$177	45
333 W 14th St	0.15mi	4/2.5 (+1)	2,056 (+15%)	17mo	$365,000	$178	44
1024 Woodland St	0.73mi	3/2.0	2,054 (+15%)	5mo	$105,000	$51	33

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 · 4.97% rent growth · sell at horizon

5-year hold

• IRR: -10.9%
• Equity multiple: 0.60×
• Total profit: $-24,346
• Equity at exit: $32,042

10-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $2,985
• Equity at exit: $18,581

Cash invested: $60,172 (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 38401

• Home prices YoY: -22.7%
• Rents YoY: 5.0%
• Active inventory: 1129
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,807 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$103 /mo · $1,236/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $108

Break-even live

Break-even rent $1,670

Max offer price $214,900

Occupancy floor 89%

Sensitivity live

Price	-10% $230	-5% $169	+0% $108	+5% $47	+10% $-13
Rent	-10% $-34	-5% $37	+0% $108	+5% $180	+10% $251
Rate	-1.0pp $217	-0.5pp $163	base $108	+0.5pp $53	+1.0pp $-4

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
319 W 14th St Columbia, TN	2.0	1.0	1350	$1,375	$1.02	25d	1	0.20mi
329 E 18th St Columbia, TN	3.0	3.0	1720	$1,795	$1.04	45d	1	0.67mi
107 E 9th St Unit D-7 Columbia, TN	3.0	3.5	2060	$2,550	$1.24	19d	1	0.84mi
505 Washington St Columbia, TN	3.0	2.0	1241	$1,950	$1.57	45d	1	0.93mi
915 Mapleash Ave Columbia, TN	4.0	2.0	1308	$1,995	$1.53	45d	1	1.12mi
2411 Pulaski Hwy Columbia, TN	1.0–3.0	1.0–2.0	1042	$1,749	$1.68	3d	12	1.25mi

Listing history 18 events

1. 2026-06-21
   days on market $214,900 Active 34 DOM
2. 2026-06-18
   days on market $214,900 Active 31 DOM
3. 2026-06-17
   days on market $214,900 Active 30 DOM
4. 2026-06-16
   days on market $214,900 Active 29 DOM
5. 2026-06-15
   statusdays on market $214,900 Active 28 DOM
6. 2026-06-09
   days on market $214,900 Active Under Contract 24 DOM
7. 2026-06-08
   days on market $214,900 Active Under Contract 23 DOM
8. 2026-06-07
   days on market $214,900 Active Under Contract 22 DOM
9. 2026-06-03
   statusdays on market $214,900 Active Under Contract 18 DOM
10. 2026-06-02
    days on market $214,900 Active 17 DOM
11. 2026-06-01
    days on market $214,900 Active 16 DOM
12. 2026-05-31
    days on market $214,900 Active 15 DOM
13. 2026-05-16
    listed $214,900 Active
14. 2026-04-15
    historical
15. 2026-04-09
    price $174,900
16. 2026-03-14
    listed $200,000 Active
17. 2010-11-08
    soldstatus $32,000
18. 2006-03-07
    soldstatus $40,000

ⓘ 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: $1,236 · $103/mo
• Projected year-2 tax: $1,526 · $127/mo
• Expected delta: +$290/yr (+$24/mo · 23.4%)

ⓘ 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 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% 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: $21,688
• − Mortgage interest: −$12,038
• − Property taxes: −$1,236
• − Insurance: −$1,074
• − Repairs & maintenance: −$1,735
• − Management: −$1,735
• − Depreciation: −$6,252
• Taxable loss: −$2,382
• Est. tax savings @ 24.0%: +$572
• After-tax cash flow: $1,871/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: Maury County
• NCES district ID: 4702760
• Math proficiency: 19% ▼ -5.00%
• Reading proficiency: 21% ▼ -4.00%
• Median HH income: $47,668
• Composite: 17.69/100
• National rank: #9024
• State rank: #108 of 139 in TN

Livability — Columbia

• Score: 63/100
• State rank: #207
• US rank: #16090

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbia, TN
• County: Maury County · 121,382 people
• City population: 67,482
• Metro: Nashville-Davidson--Murfreesboro--Franklin, TN
• Population (ZIP): 67,482
• Household income: $68,475
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 2026.0

Population outlook (Maury County) Hauer SSP2

• Today (2025): 102,894 people
• By 2030: 110,269 · +7.2%
• By 2040: 124,426 · +20.9%
• By 2050: 137,543 · +33.7%
• By 2075: 167,438 · +62.7%
• By 2100: 184,489 · +79.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 12% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 1% Serbian 1% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Maury

• 2024 margin: Solid R (+44.6) · D 27.1% · R 71.8% · Other 1.1%
• 2008→2024 swing: -6.2pp toward R · 2008: -38.4pp · 2024: -44.6pp
• All cycles: 2024: R+44.6 2020: R+36.5 2016: R+39.2 2012: R+26.9 2008: R+38.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.75%
• Current HPI: 343.0362
• Rent YoY: ▲ 4.97%
• Metro: Nashville-Davidson--Murfreesboro--Franklin, 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

Price history

+437.2% since first listed

6 events — show timeline

• 2026-05-16 Listed $214,900 REALTRACS as Distributed by MLS Grid
• 2026-04-15 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2026-04-09 Price Changed $174,900 REALTRACS as Distributed by MLS Grid
• 2026-03-14 Listed $200,000 REALTRACS as Distributed by MLS Grid
• 2010-11-08 Sold (Public Records) $32,000 Public Records
• 2006-03-07 Sold (Public Records) $40,000 Public Records

Property tax history

+7.9%/yr

Latest (2025): $1,236 · +0.0% YoY. Source: county tax records.