155&1849 E Jere Whitson & Summerhaven · Cookeville, TN 38501

$927,999

None bd · 2.0 ba · 2,046 sqft · MultiFamily public records · 32 Days on market

Built 1986

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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 +16.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• Livability +3.8/5.0
• 1% rule +3.2/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

PERFECT INVESTMENT LOCATED IN CITY LIMITS OF COOKEVILLE! SITUATED WITHIN WALKING DISTANCE TO TENNESSEE TECH WITH EASY ACCESS TO COOKEVILLE HIGH SCHOOL, JERE WHITSON ELEMENTARY, WHILE ALSO BEING CLOSE TO SHOPPING AND RESTARUANTS. TRULY A REMARKABLE LOCATION. * PLEASE READ AGENT REMARKS *

Key facts

• Washer dryer hookups
• Storage units
• Separately metered

Tags

• EXCELLENT RENTAL HISTORY
• LOW MAINTENANCE PROPERTY
• WASHER DRYER HOOKUPS
• SEPARATELY METERED
• STORAGE UNITS

Property features AI

Exterior

• Parking: Paved parking
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Residential income property; Multi-family; Other multi-family subtype; Zoned RM8
• Construction: Frame, brick, and vinyl siding construction; Has basement (crawl space)
• Exterior features: Front porch; Metal roof; Paved road access

Interior

• Kitchen: Electric oven; Electric range; Refrigerator; Electric water heater
• Flooring: Vinyl flooring; Tile flooring
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Double pane windows; Crawl space basement

What this means for you Summary

Snapshot

• This is a ?-bed/2.0-bath multifamily listed at $928k.

Deal economics

• At list price, monthly cash flow is $550 ($7k/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 $758k (18.3% below list).
• Recommended offer: $758k (18.3% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 3.1% in Cookeville — 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 76/100 on livability (#11 in TN, #3,551 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: schools D-, commute F, employment F.
• Putnam County (town): math 32% / reading 31% proficiency, ranked #49 of 139 in TN (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-1.4%/yr); 285 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 700 units permitted in Putnam County in 2024 (48 in 5+ unit buildings).
• At $7,584/mo this rent would consume 175% of the median local household income ($52k/yr) (locally 2410% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $28k of value loss. Plan a longer hold.
• Putnam County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($900k) 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 $142k; list at $928k implies a 551% gain — meaningful room to come down on a strong offer.

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 $758,400 (18.3% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 18% 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 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?
4. 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?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.82% ✗
• Cap rate: 7.00%
• Cash-on-cash: 2.54%
• DSCR: 1.11
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $335,544
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
141 E 15th St	0.29mi	4/4.0	2,200 (+8%)	4mo	$360,000	$164	62
1347 Maddux Ave	0.30mi	4/4.0	2,320 (+13%)	4mo	$354,000	$153	52

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.47×
• Total profit: $-138,070
• Equity at exit: $138,368

10-year hold

• IRR: -12.0%
• Equity multiple: 0.37×
• Total profit: $-162,998
• Equity at exit: $80,236

Cash invested: $259,840 (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 38501

• Home prices YoY: -24.2%
• Rents YoY: -1.4%
• Active inventory: 285
• Price-to-rent: 70.2×

Monthly cashflow live

• Estimated rent: $7,584 medium
• Mortgage (P&I): −$4,867
• Tax from tax record: −$188 /mo · $2,261/yr
• Insurance: −$387
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,593
• Net cashflow: $550

Break-even live

Break-even rent $6,888

Max offer price $927,999

Occupancy floor 88%

Sensitivity live

Price	-10% $1,075	-5% $812	+0% $550	+5% $287	+10% $24
Rent	-10% $-49	-5% $250	+0% $550	+5% $849	+10% $1,149
Rate	-1.0pp $1,017	-0.5pp $786	base $550	+0.5pp $309	+1.0pp $65

7-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$6,612
1× unit	1	1	$974
Total (7 units)			$7,584

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: $232,000
• Closing costs: $27,840
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
306 E 13th St Cookeville, TN	3.0	2.0	1537	$1,950	$1.27	45d	1	0.51mi
431 Juniper Dr Cookeville, TN	3.0	2.5	1424	$1,650	$1.16	45d	1	0.84mi
407 Juniper Dr Cookeville, TN	3.0	2.0	1424	$1,650	$1.16	45d	1	0.89mi
1301 Fisk Rd Cookeville, TN	3.0	2.5	1818	$1,900	$1.05	45d	1	1.41mi

Listing history 20 events

1. 2026-06-22
   days on market $927,999 Active 32 DOM
2. 2026-06-19
   days on market $927,999 Active 30 DOM
3. 2026-06-18
   days on market $927,999 Active 29 DOM
4. 2026-06-17
   days on market $927,999 Active 28 DOM
5. 2026-06-16
   days on market $927,999 Active 27 DOM
6. 2026-06-15
   days on market $927,999 Active 26 DOM
7. 2026-06-14
   days on market $927,999 Active 24 DOM
8. 2026-06-13
   days on market $927,999 Active 23 DOM
9. 2026-06-10
   days on market $927,999 Active 21 DOM
10. 2026-06-09
    days on market $927,999 Active 20 DOM
11. 2026-06-08
    days on market $927,999 Active 19 DOM
12. 2026-06-07
    days on market $927,999 Active 18 DOM
13. 2026-06-05
    days on market $927,999 Active 15 DOM
14. 2026-06-02
    days on market $927,999 Active 13 DOM
15. 2026-06-01
    days on market $927,999 Active 12 DOM
16. 2026-05-31
    days on market $927,999 Active 11 DOM
17. 2026-05-30
    days on market $927,999 Active 10 DOM
18. 2026-05-20
    listed $927,999 Active
19. 2026-05-19
    listed $329,000 Active 287-char remark

    Show marketing remark (287 chars)

    PERFECT INVESTMENT LOCATED IN CITY LIMITS OF COOKEVILLE! SITUATED WITHIN WALKING DISTANCE TO TENNESSEE TECH WITH EASY ACCESS TO COOKEVILLE HIGH SCHOOL, JERE WHITSON ELEMENTARY, WHILE ALSO BEING CLOSE TO SHOPPING AND RESTARUANTS. TRULY A REMARKABLE LOCATION. * PLEASE READ AGENT REMARKS *

20. 2019-02-01
    soldstatus $142,500

ⓘ 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: $2,261 · $188/mo
• Projected year-2 tax: $6,589 · $549/mo
• Expected delta: +$4,328/yr (+$361/mo · 191.4%)

ⓘ 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 ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $91,008
• − Mortgage interest: −$51,982
• − Property taxes: −$2,261
• − Insurance: −$4,640
• − Repairs & maintenance: −$7,281
• − Management: −$7,281
• − Depreciation: −$26,996
• Taxable loss: −$9,433
• Est. tax savings @ 24.0%: +$2,264
• After-tax cash flow: $8,861/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: Putnam County
• NCES district ID: 4703480
• Math proficiency: 32% ▼ -6.00%
• Reading proficiency: 31% ▼ -5.00%
• Median HH income: $35,738
• Composite: 26.09/100
• National rank: #7291
• State rank: #49 of 139 in TN

Livability — Cookeville

• Score: 76/100
• State rank: #11
• US rank: #3551

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cookeville, TN
• County: Putnam County · 72,571 people
• City population: 72,571
• Metro: Cookeville, TN
• Population (ZIP): 42,471
• Household income: $52,145
• Rent vs Own: 51.1% rent · 48.9% own
• Severe rent burden: 2410.0

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 80,122 people
• By 2030: 82,798 · +3.3%
• By 2040: 87,913 · +9.7%
• By 2050: 92,659 · +15.6%
• By 2075: 104,965 · +31.0%
• By 2100: 113,256 · +41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 9% Two or more races 6% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 5% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Putnam

• 2024 margin: Solid R (+47.4) · D 25.7% · R 73.1% · Other 1.1%
• 2008→2024 swing: -20.5pp toward R · 2008: -26.9pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+43.4 2016: R+45.0 2012: R+37.1 2008: R+26.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.19%
• Current HPI: 285.6959
• Rent YoY: ▼ -1.45%
• Metro: Cookeville, 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

+551.2% since first listed

3 events — show timeline

• 2026-05-20 Listed $927,999 UCMLS
• 2026-05-19 Listed $329,000 UCMLS
• 2019-02-01 Sold (Public Records) $142,500 Public Records

Property tax history

+6.0%/yr

Latest (2025): $2,261 · +1.9% YoY. Source: county tax records.