481 Elora Rd

Flintville, TN 37328

$164,900D+

3 bd · 1.0 ba · 1,340 sqft · Built 1900 · SingleFamily · Active · 241 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,189/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$107
• HOA: −$0
• Vac / Maint / Mgmt: −$250
• Net cashflow: $-33/mo
• Annual: $-395/yr
• Cap rate: 6.05%
• Cash-on-cash: -0.86%
• DSCR: 0.96
• 1% rule: 0.72%
• Cash to close: $46,172

Investor read

• This is a 3-bed/1.0-bath single-family listed at $165k.
• At list price, monthly cash flow is $-33 ($-395/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (3.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (27.9% below list).
• It's been on market 241 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (27.9% below list) — sets the bar for 1% rule.
• In year one you build about $12k of equity ($1k loan paydown + $10k appreciation (6.3% local appreciation)).
• Location reads 58/100 on livability (#313 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Lincoln County (rural): math 35% / reading 37% proficiency, ranked #24 of 139 in TN (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Flintville School (math 37% / reading 34%, grade F, #310 of 952 statewide, top 33%, 513 students, 0% FRL); Lincoln County High School (math 15% / reading 47%, grade F, #72 of 332 statewide, top 21%, 1,201 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 173 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• Lincoln County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts; this cycle's ask has dropped $34k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $88k; list at $165k implies a 87% gain — meaningful room to come down on a strong offer.
• At projected returns (6.3% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 241 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?