123 Groves Rd · Pikeville, TN 37367

$90,000

2 bd · 1.0 ba · 1,234 sqft · SingleFamily public records · 3 Days on market

Built 1947 9,583 sqft lot $73/sqft · 59% below area ↓ 23% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks MLS

Step into a home that whispers stories from generations past. Nestled in a quiet neighborhood, this unique property offers a rare blend of vintage character and spacious living. From its classic architectural details to its inviting layout, every corner holds the promise of something special. Whether you're drawn to its nostalgic appeal or dreaming of your own design touches, this home is ready to inspire. Large windows, generous rooms, and a welcoming front porch set the stage for your next chapter. Come see the possibilities—this one won't stay a secret for long.

Key facts

• 9,583 sq ft lot
• Built 1947
• Listed 3 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Cap rate 24.8% vs local median 4.8% in Pikeville — 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 59/100 on livability (#296 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing B+; Watch: health & safety C-, schools F, amenities F.
• Bledsoe County (rural): math 19% / reading 27% proficiency, ranked #104 of 139 in TN (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 155 active listings in the ZIP.
• At $2,458/mo this rent would consume 54% of the median local household income ($55k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $10k of equity ($622 loan paydown + $9k appreciation (10.0% local appreciation)).
• Bledsoe County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts; this cycle's ask has dropped $20k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 8→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,000

Questions for the listing agent

1. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 2.73% ✓
• Cap rate: 24.79%
• Cash-on-cash: 66.06%
• DSCR: 3.94
• GRM: 3.1

CMA / ARV

• ARV (median comp): $221,327
• List price: $90,000
• Delta: -54.86%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 Cleveland Ave	0.33mi	3/2.0 (+1)	1,288 (+4%)	2mo	$193,000	$150	67
106 Cleveland Ave	0.33mi	3/2.0 (+1)	1,232 (-0%)	12mo	$250,000	$203	66
203 Cherry St	0.30mi	3/1.5 (+1)	1,392 (+13%)	4mo	$138,000	$99	54
118 Cleveland Ave	0.34mi	3/2.0 (+1)	1,288 (+4%)	19mo	$220,000	$171	52
114 Cleveland Ave	0.33mi	3/2.0 (+1)	1,288 (+4%)	22mo	$220,000	$171	50

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 77.5%
• Equity multiple: 6.45×
• Total profit: $137,362
• Equity at exit: $81,079

10-year hold

• IRR: 71.6%
• Equity multiple: 14.29×
• Total profit: $335,023
• Equity at exit: $174,850

Cash invested: $25,200 (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 37367

• Home prices YoY: 34.5%
• Active inventory: 155
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $2,458 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$46 /mo · $546/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$516
• Net cashflow: $1,387

Break-even live

Break-even rent $702

Max offer price $90,000

Occupancy floor 39%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $90,000 Active 3 DOM
2. 2026-06-17
   days on market $90,000 Active 2 DOM
3. 2026-06-15
   pricedays on marketlisting id $90,000 Active 1 DOM
4. 2026-06-10
   days on market $99,900 Active 162 DOM
5. 2026-06-09
   days on market $99,900 Active 161 DOM
6. 2026-06-08
   days on market $99,900 Active 160 DOM
7. 2026-06-07
   days on market $99,900 Active 159 DOM
8. 2026-06-03
   days on market $99,900 Active 155 DOM
9. 2026-06-02
   days on market $99,900 Active 154 DOM
10. 2026-06-01
    days on market $99,900 Active 153 DOM
11. 2026-05-31
    days on market $99,900 Active 152 DOM
12. 2026-05-30
    days on market $99,900 Active 151 DOM
13. 2026-03-13
    price $99,900 577-char remark

    Show marketing remark (577 chars)

    Step into a home that whispers stories from generations past. Nestled in a quiet neighborhood, this unique property offers a rare blend of vintage character and spacious living. From its classic architectural details to its inviting layout, every corner holds the promise of something special. Whether you're drawn to its nostalgic appeal or dreaming of your own design touches, this home is ready to inspire. Large windows, generous rooms, and a welcoming front porch set the stage for your next chapter. Come see the possibilities—this one won't stay a secret for long.

14. 2026-03-13
    price $99,900 577-char remark

    Show marketing remark (577 chars)

    Step into a home that whispers stories from generations past. Nestled in a quiet neighborhood, this unique property offers a rare blend of vintage character and spacious living. From its classic architectural details to its inviting layout, every corner holds the promise of something special. Whether you're drawn to its nostalgic appeal or dreaming of your own design touches, this home is ready to inspire. Large windows, generous rooms, and a welcoming front porch set the stage for your next chapter. Come see the possibilities—this one won't stay a secret for long.

15. 2025-12-30
    listed $109,900 Active 577-char remark

    Show marketing remark (577 chars)

    Step into a home that whispers stories from generations past. Nestled in a quiet neighborhood, this unique property offers a rare blend of vintage character and spacious living. From its classic architectural details to its inviting layout, every corner holds the promise of something special. Whether you're drawn to its nostalgic appeal or dreaming of your own design touches, this home is ready to inspire. Large windows, generous rooms, and a welcoming front porch set the stage for your next chapter. Come see the possibilities—this one won't stay a secret for long.

16. 2025-12-30
    listed $109,900 Active 577-char remark

    Show marketing remark (577 chars)

    Step into a home that whispers stories from generations past. Nestled in a quiet neighborhood, this unique property offers a rare blend of vintage character and spacious living. From its classic architectural details to its inviting layout, every corner holds the promise of something special. Whether you're drawn to its nostalgic appeal or dreaming of your own design touches, this home is ready to inspire. Large windows, generous rooms, and a welcoming front porch set the stage for your next chapter. Come see the possibilities—this one won't stay a secret for long.

17. 2025-12-25
    historical
18. 2025-12-25
    listed $129,900
19. 2025-09-29
    listed $129,900 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: $546 · $46/mo
• Projected year-2 tax: $639 · $53/mo
• Expected delta: +$93/yr (+$8/mo · 17.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 8 d/yr ≥103°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,501
• − Mortgage interest: −$5,041
• − Property taxes: −$546
• − Insurance: −$450
• − Repairs & maintenance: −$2,360
• − Management: −$2,360
• − Depreciation: −$2,618
• Taxable income: $16,125
• Est. tax owed @ 24.0%: −$3,870
• After-tax cash flow: $12,776/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: Bledsoe County
• NCES district ID: 4700270
• Math proficiency: 19% ▼ -13.00%
• Reading proficiency: 27% ▼ -1.00%
• Median HH income: $35,901
• Composite: 19.02/100
• National rank: #8845
• State rank: #104 of 139 in TN

Livability — Pikeville

• Score: 59/100
• State rank: #296
• US rank: #20539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pikeville, TN
• County: Bledsoe · 11,736 people
• Population (ZIP): 11,736
• Household income: $54,696
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 2.1

Population outlook (Bledsoe County) Hauer SSP2

• Today (2025): 18,085 people
• By 2030: 19,649 · +8.6%
• By 2040: 22,438 · +24.1%
• By 2050: 24,582 · +35.9%
• By 2075: 26,769 · +48.0%
• By 2100: 25,033 · +38.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Italian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Bledsoe

• 2024 margin: Solid R (+70.5) · D 14.4% · R 84.9%
• 2008→2024 swing: -36.0pp toward R · 2008: -34.5pp · 2024: -70.5pp
• All cycles: 2024: R+70.5 2020: R+65.2 2016: R+58.6 2012: R+40.3 2008: R+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 106.44%
• Current HPI: 415.344
• Rent YoY: —
• Metro: —
• 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

-23.1% since first listed

7 events — show timeline

• 2026-03-13 Price Changed $99,900 RCAOR
• 2026-03-13 Price Changed $99,900 GCAR
• 2025-12-30 Listed $109,900 GCAR
• 2025-12-30 Listed $109,900 RCAOR
• 2025-12-25 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2025-12-25 Listed $129,900 REALTRACS as Distributed by MLS Grid
• 2025-09-29 Listed $129,900 RCAOR

Property tax history

+6.4%/yr

Latest (2025): $546 · +0.0% YoY. Source: county tax records.