1532 Patrick Dr · Lewisburg, TN 37091

$280,000

3 bd · 3.0 ba · 1,288 sqft · SingleFamily public records · 45 Days on market

Built 2006 0.28 ac lot $217/sqft · at area comps Est $278k · at est.

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Why this score? — see what drove the D- 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 +14.4/30.0
• ARV discount +7.2/15.0
• DSCR +4.4/10.0
• 1% rule +3.0/10.0
• Livability +3.0/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Super cute ranch with loads of updates and ready for a new owner! This home features open concept floor plan for entertaining, upgraded flooring, tall ceilings, super functional kitchen with adjoining pantry, large primary suite with private bath, two secondary bedrooms and hall bath with shower/tub combination. Nice sized back yard for relaxing or spending time with friends and family. Located conveniently between Downtown Lewisburg and I-65. This home is move in ready and a total creme puff. Great location, great updates and great price!

Key facts

• Functional kitchen
• Back yard
• Upgraded flooring

Tags

• OPEN CONCEPT FLOOR PLAN
• UPGRADED FLOORING
• FUNCTIONAL KITCHEN
• ADJOINING PANTRY
• PRIVATE BATH
• BACK YARD

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $59 ($706/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 $225k (19.6% below list).
• Recommended offer: $225k (19.6% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.8% in Lewisburg — 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 (#284 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Marshall County (rural): math 31% / reading 29% proficiency, ranked #58 of 139 in TN (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 269 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 400 units permitted in Marshall County in 2024 (75 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Marshall County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 $227k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire 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 $225,000 (19.6% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
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. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.80% ✗
• Cap rate: 6.54%
• Cash-on-cash: 0.90%
• DSCR: 1.04
• GRM: 10.4

CMA / ARV

• ARV (median comp): $277,992
• List price: $280,000
• Delta: 0.72%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1532 Patrick Dr	0.00mi	3/2.0	1,288 (0%)	0mo	$275,000	$214	96
1528 Patrick Dr	0.04mi	3/2.0	1,279 (-1%)	8mo	$264,900	$207	86
1504 Patrick Dr	0.05mi	3/2.0	1,190 (-8%)	0mo	$250,000	$210	81
1543 Joanne Cir	0.19mi	3/2.0	1,278 (-1%)	10mo	$295,000	$231	78
1531 Patrick Dr	0.04mi	3/2.0	1,204 (-6%)	8mo	$280,000	$233	76
341 Holly Grove Rd	0.15mi	3/2.0	1,385 (+8%)	3mo	$295,000	$213	74
241 Holly Grove Rd	0.22mi	3/2.0	1,344 (+4%)	8mo	$295,000	$219	72
475 Holly Grove Rd	0.36mi	3/2.0	1,288 (0%)	17mo	$330,000	$256	65
1523 Patrick Dr	0.10mi	3/2.0	1,400 (+9%)	14mo	$284,900	$204	65
1465 Old Farmington Rd	0.22mi	3/1.5	1,450 (+13%)	4mo	$195,000	$134	59
1544 Joanne Cir	0.22mi	3/2.0	1,200 (-7%)	21mo	$235,000	$196	57

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.47×
• Total profit: $-41,725
• Equity at exit: $41,749

10-year hold

• IRR: -6.3%
• Equity multiple: 0.59×
• Total profit: $-31,912
• Equity at exit: $24,209

Cash invested: $78,400 (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 37091

• Home prices YoY: -14.6%
• Active inventory: 269
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,250 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$134 /mo · $1,604/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $59

Break-even live

Break-even rent $2,176

Max offer price $280,000

Occupancy floor 92%

Sensitivity live

Price	-10% $217	-5% $138	+0% $59	+5% $-20	+10% $-100
Rent	-10% $-119	-5% $-30	+0% $59	+5% $148	+10% $237
Rate	-1.0pp $200	-0.5pp $130	base $59	+0.5pp $-14	+1.0pp $-88

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
566 1st Ave N Lewisburg, TN	2.0	1.0	950	$2,250	$2.37	45d	1	1.45mi

Listing history 22 events

1. 2026-05-10
   status Pending 545-char remark

   Show marketing remark (545 chars)

   Super cute ranch with loads of updates and ready for a new owner! This home features open concept floor plan for entertaining, upgraded flooring, tall ceilings, super functional kitchen with adjoining pantry, large primary suite with private bath, two secondary bedrooms and hall bath with shower/tub combination. Nice sized back yard for relaxing or spending time with friends and family. Located conveniently between Downtown Lewisburg and I-65. This home is move in ready and a total creme puff. Great location, great updates and great price!

2. 2026-04-24
   price $280,000 545-char remark

   Show marketing remark (545 chars)

   Super cute ranch with loads of updates and ready for a new owner! This home features open concept floor plan for entertaining, upgraded flooring, tall ceilings, super functional kitchen with adjoining pantry, large primary suite with private bath, two secondary bedrooms and hall bath with shower/tub combination. Nice sized back yard for relaxing or spending time with friends and family. Located conveniently between Downtown Lewisburg and I-65. This home is move in ready and a total creme puff. Great location, great updates and great price!

3. 2026-03-26
   listed $290,000 Active 545-char remark

   Show marketing remark (545 chars)

   Super cute ranch with loads of updates and ready for a new owner! This home features open concept floor plan for entertaining, upgraded flooring, tall ceilings, super functional kitchen with adjoining pantry, large primary suite with private bath, two secondary bedrooms and hall bath with shower/tub combination. Nice sized back yard for relaxing or spending time with friends and family. Located conveniently between Downtown Lewisburg and I-65. This home is move in ready and a total creme puff. Great location, great updates and great price!

4. 2024-01-09
   soldstatus $227,000
5. 2024-01-08
   soldstatus $227,000 Closed 220-char remark

   Show marketing remark (220 chars)

   Home has been well Maintained; Non-Smokers; Great Neighborhood w/Very Little Traffic; Split Floor Plan; New HVAC; New Paint; Concrete Poarch/Patio; Storage Building [Virtual Tour & Ariel Links Can be sent on request]

6. 2023-11-27
   status Pending 220-char remark

   Show marketing remark (220 chars)

   Home has been well Maintained; Non-Smokers; Great Neighborhood w/Very Little Traffic; Split Floor Plan; New HVAC; New Paint; Concrete Poarch/Patio; Storage Building [Virtual Tour & Ariel Links Can be sent on request]

7. 2023-11-15
   price $234,900 220-char remark

   Show marketing remark (220 chars)

   Home has been well Maintained; Non-Smokers; Great Neighborhood w/Very Little Traffic; Split Floor Plan; New HVAC; New Paint; Concrete Poarch/Patio; Storage Building [Virtual Tour & Ariel Links Can be sent on request]

8. 2023-10-25
   price $244,900 220-char remark

   Show marketing remark (220 chars)

   Home has been well Maintained; Non-Smokers; Great Neighborhood w/Very Little Traffic; Split Floor Plan; New HVAC; New Paint; Concrete Poarch/Patio; Storage Building [Virtual Tour & Ariel Links Can be sent on request]

9. 2023-10-19
   price $249,900 220-char remark

   Show marketing remark (220 chars)

   Home has been well Maintained; Non-Smokers; Great Neighborhood w/Very Little Traffic; Split Floor Plan; New HVAC; New Paint; Concrete Poarch/Patio; Storage Building [Virtual Tour & Ariel Links Can be sent on request]

10. 2023-10-13
    price $254,900 220-char remark

    Show marketing remark (220 chars)

    Home has been well Maintained; Non-Smokers; Great Neighborhood w/Very Little Traffic; Split Floor Plan; New HVAC; New Paint; Concrete Poarch/Patio; Storage Building [Virtual Tour & Ariel Links Can be sent on request]

11. 2023-09-28
    price $259,900 220-char remark

    Show marketing remark (220 chars)

    Home has been well Maintained; Non-Smokers; Great Neighborhood w/Very Little Traffic; Split Floor Plan; New HVAC; New Paint; Concrete Poarch/Patio; Storage Building [Virtual Tour & Ariel Links Can be sent on request]

12. 2023-09-21
    price $270,900 220-char remark

    Show marketing remark (220 chars)

    Home has been well Maintained; Non-Smokers; Great Neighborhood w/Very Little Traffic; Split Floor Plan; New HVAC; New Paint; Concrete Poarch/Patio; Storage Building [Virtual Tour & Ariel Links Can be sent on request]

13. 2023-09-14
    price $271,900 220-char remark

    Show marketing remark (220 chars)

    Home has been well Maintained; Non-Smokers; Great Neighborhood w/Very Little Traffic; Split Floor Plan; New HVAC; New Paint; Concrete Poarch/Patio; Storage Building [Virtual Tour & Ariel Links Can be sent on request]

14. 2023-09-07
    price $272,900 220-char remark

    Show marketing remark (220 chars)

    Home has been well Maintained; Non-Smokers; Great Neighborhood w/Very Little Traffic; Split Floor Plan; New HVAC; New Paint; Concrete Poarch/Patio; Storage Building [Virtual Tour & Ariel Links Can be sent on request]

15. 2023-08-31
    price $273,900 220-char remark

    Show marketing remark (220 chars)

    Home has been well Maintained; Non-Smokers; Great Neighborhood w/Very Little Traffic; Split Floor Plan; New HVAC; New Paint; Concrete Poarch/Patio; Storage Building [Virtual Tour & Ariel Links Can be sent on request]

16. 2023-08-24
    price $274,900 220-char remark

    Show marketing remark (220 chars)

    Home has been well Maintained; Non-Smokers; Great Neighborhood w/Very Little Traffic; Split Floor Plan; New HVAC; New Paint; Concrete Poarch/Patio; Storage Building [Virtual Tour & Ariel Links Can be sent on request]

17. 2023-08-16
    price $275,900 220-char remark

    Show marketing remark (220 chars)

    Home has been well Maintained; Non-Smokers; Great Neighborhood w/Very Little Traffic; Split Floor Plan; New HVAC; New Paint; Concrete Poarch/Patio; Storage Building [Virtual Tour & Ariel Links Can be sent on request]

18. 2023-08-10
    price $276,900 220-char remark

    Show marketing remark (220 chars)

    Home has been well Maintained; Non-Smokers; Great Neighborhood w/Very Little Traffic; Split Floor Plan; New HVAC; New Paint; Concrete Poarch/Patio; Storage Building [Virtual Tour & Ariel Links Can be sent on request]

19. 2023-08-03
    price $277,900 220-char remark

    Show marketing remark (220 chars)

    Home has been well Maintained; Non-Smokers; Great Neighborhood w/Very Little Traffic; Split Floor Plan; New HVAC; New Paint; Concrete Poarch/Patio; Storage Building [Virtual Tour & Ariel Links Can be sent on request]

20. 2023-07-27
    price $278,900 220-char remark

    Show marketing remark (220 chars)

    Home has been well Maintained; Non-Smokers; Great Neighborhood w/Very Little Traffic; Split Floor Plan; New HVAC; New Paint; Concrete Poarch/Patio; Storage Building [Virtual Tour & Ariel Links Can be sent on request]

21. 2023-07-13
    listed $279,900 Active 220-char remark

    Show marketing remark (220 chars)

    Home has been well Maintained; Non-Smokers; Great Neighborhood w/Very Little Traffic; Split Floor Plan; New HVAC; New Paint; Concrete Poarch/Patio; Storage Building [Virtual Tour & Ariel Links Can be sent on request]

22. 2007-05-23
    soldstatus $92,330

ⓘ 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: $1,604 · $134/mo
• Projected year-2 tax: $1,988 · $166/mo
• Expected delta: +$384/yr (+$32/mo · 23.9%)

ⓘ 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 5/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,000
• − Mortgage interest: −$15,684
• − Property taxes: −$1,604
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,160
• − Management: −$2,160
• − Depreciation: −$8,145
• Taxable loss: −$4,154
• Est. tax savings @ 24.0%: +$997
• After-tax cash flow: $1,703/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: Marshall County
• NCES district ID: 4702670
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 29% ▼ -5.00%
• Median HH income: $43,058
• Composite: 25.56/100
• National rank: #7426
• State rank: #58 of 139 in TN

Livability — Lewisburg

• Score: 59/100
• State rank: #284
• US rank: #20031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lewisburg, TN
• Population (ZIP): 23,991

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 33,222 people
• By 2030: 33,867 · +1.9%
• By 2040: 34,743 · +4.6%
• By 2050: 34,954 · +5.2%
• By 2075: 34,652 · +4.3%
• By 2100: 31,862 · -4.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 8% Black 5% Two or more races 4%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Serbian 4% Slovak 2% Romanian 1%
• Foreign-born: 3% · Canada, Jamaica, Vietnam
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Marshall

• 2024 margin: Solid R (+56.6) · D 21.2% · R 77.8%
• 2008→2024 swing: -17.0pp toward R · 2008: -39.6pp · 2024: -56.6pp
• All cycles: 2024: R+56.6 2020: R+50.0 2016: R+46.6 2012: R+28.9 2008: R+39.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.86%
• Current HPI: 350.5306
• 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

+203.3% since first listed

22 events — show timeline

• 2026-05-10 Pending — REALTRACS as Distributed by MLS Grid
• 2026-04-24 Price Changed $280,000 REALTRACS as Distributed by MLS Grid
• 2026-03-26 Listed $290,000 REALTRACS as Distributed by MLS Grid
• 2024-01-09 Sold (Public Records) $227,000 Public Records
• 2024-01-08 Sold (MLS) $227,000 REALTRACS as Distributed by MLS Grid
• 2023-11-27 Pending — REALTRACS as Distributed by MLS Grid
• 2023-11-15 Price Changed $234,900 REALTRACS as Distributed by MLS Grid
• 2023-10-25 Price Changed $244,900 REALTRACS as Distributed by MLS Grid
• 2023-10-19 Price Changed $249,900 REALTRACS as Distributed by MLS Grid
• 2023-10-13 Price Changed $254,900 REALTRACS as Distributed by MLS Grid
• 2023-09-28 Price Changed $259,900 REALTRACS as Distributed by MLS Grid
• 2023-09-21 Price Changed $270,900 REALTRACS as Distributed by MLS Grid
• 2023-09-14 Price Changed $271,900 REALTRACS as Distributed by MLS Grid
• 2023-09-07 Price Changed $272,900 REALTRACS as Distributed by MLS Grid
• 2023-08-31 Price Changed $273,900 REALTRACS as Distributed by MLS Grid
• 2023-08-24 Price Changed $274,900 REALTRACS as Distributed by MLS Grid
• 2023-08-16 Price Changed $275,900 REALTRACS as Distributed by MLS Grid
• 2023-08-10 Price Changed $276,900 REALTRACS as Distributed by MLS Grid
• 2023-08-03 Price Changed $277,900 REALTRACS as Distributed by MLS Grid
• 2023-07-27 Price Changed $278,900 REALTRACS as Distributed by MLS Grid
• 2023-07-13 Listed $279,900 REALTRACS as Distributed by MLS Grid
• 2007-05-23 Sold (Public Records) $92,330 Public Records

Property tax history

+4.3%/yr

Latest (2025): $1,604 · +2.0% YoY. Source: county tax records.