107 Ryan St · Martin, TN 38237

$169,900

9 bd · 2.0 ba · 3,308 sqft · MultiFamily public records · 325 Days on market

Built 1914 0.28 ac lot $51/sqft · 40% below area Est $142k · 19% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Investment Opportunity! Triplex in Martin. 1BR, 1BA per apartment. Close to downtown. Detached garage. 2 bays and storage. Window units for air. Apartment A has gas ventless heat. New flooring in part of this unit. New ceiling fan in bedroom. . Apartment B has upstairs and bedroom and utility are upstairs. New Engineered flooring in living room. Apartment C is rented. Great income potential.

Key facts

• New ceiling fan
• New flooring
• Triplex in martin

Tags

• TRIPLEX IN MARTIN
• DETACHED GARAGE
• NEW FLOORING
• NEW CEILING FAN
• GREAT INCOME POTENTIAL

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1-bath units multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $540/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.7% vs local median 4.0% in Martin — 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 75/100 on livability (#15 in TN, #4,330 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: schools D+, commute F, employment F.
• Weakley County (rural): math 34% / reading 38% proficiency, ranked #32 of 139 in TN (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 85 active listings in the ZIP; 69 units permitted in Weakley County in 2024 (0 in 5+ unit buildings).
• At $3,394/mo this rent would consume 79% of the median local household income ($52k/yr) (locally 636% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Weakley County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 325 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 3 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 $103k; list at $170k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $149,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 325 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 2.00% ✓
• Cap rate: 17.73%
• Cash-on-cash: 40.85%
• DSCR: 2.82
• GRM: 4.2

CMA / ARV

• ARV (median comp): $142,182
• List price: $169,900
• Delta: 19.49%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 37.3%
• Equity multiple: 2.59×
• Total profit: $75,597
• Equity at exit: $25,333

10-year hold

• IRR: 43.9%
• Equity multiple: 5.17×
• Total profit: $198,574
• Equity at exit: $14,690

Cash invested: $47,572 (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 38237

• Home prices YoY: -16.5%
• Active inventory: 85
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $3,394 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$100 /mo · $1,200/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$713
• Net cashflow: $1,619

Break-even live

Break-even rent $1,344

Max offer price $169,900

Occupancy floor 47%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$3,393
Total (3 units)			$3,394

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $169,900 Active 325 DOM
2. 2026-06-18
   days on market $169,900 Active 324 DOM
3. 2026-06-17
   days on market $169,900 Active 323 DOM
4. 2026-06-16
   days on market $169,900 Active 322 DOM
5. 2026-06-15
   days on market $169,900 Active 321 DOM
6. 2026-06-14
   days on market $169,900 Active 319 DOM
7. 2026-06-12
   days on market $169,900 Active 318 DOM
8. 2026-06-09
   days on market $169,900 Active 315 DOM
9. 2026-06-08
   days on market $169,900 Active 314 DOM
10. 2026-06-07
    days on market $169,900 Active 313 DOM
11. 2026-06-04
    days on market $169,900 Active 309 DOM
12. 2026-06-02
    days on market $169,900 Active 308 DOM
13. 2026-06-01
    days on market $169,900 Active 307 DOM
14. 2026-05-31
    days on market $169,900 Active 306 DOM
15. 2026-05-31
    days on market $169,900 Active 305 DOM
16. 2026-02-20
    status Active 394-char remark

    Show marketing remark (394 chars)

    Investment Opportunity! Triplex in Martin. 1BR, 1BA per apartment. Close to downtown. Detached garage. 2 bays and storage. Window units for air. Apartment A has gas ventless heat. New flooring in part of this unit. New ceiling fan in bedroom. . Apartment B has upstairs and bedroom and utility are upstairs. New Engineered flooring in living room. Apartment C is rented. Great income potential.

17. 2026-02-01
    historical 394-char remark

    Show marketing remark (394 chars)

    Investment Opportunity! Triplex in Martin. 1BR, 1BA per apartment. Close to downtown. Detached garage. 2 bays and storage. Window units for air. Apartment A has gas ventless heat. New flooring in part of this unit. New ceiling fan in bedroom. . Apartment B has upstairs and bedroom and utility are upstairs. New Engineered flooring in living room. Apartment C is rented. Great income potential.

18. 2025-10-17
    status Active 394-char remark

    Show marketing remark (394 chars)

    Investment Opportunity! Triplex in Martin. 1BR, 1BA per apartment. Close to downtown. Detached garage. 2 bays and storage. Window units for air. Apartment A has gas ventless heat. New flooring in part of this unit. New ceiling fan in bedroom. . Apartment B has upstairs and bedroom and utility are upstairs. New Engineered flooring in living room. Apartment C is rented. Great income potential.

19. 2025-10-09
    historical Active Under Contract 394-char remark

    Show marketing remark (394 chars)

    Investment Opportunity! Triplex in Martin. 1BR, 1BA per apartment. Close to downtown. Detached garage. 2 bays and storage. Window units for air. Apartment A has gas ventless heat. New flooring in part of this unit. New ceiling fan in bedroom. . Apartment B has upstairs and bedroom and utility are upstairs. New Engineered flooring in living room. Apartment C is rented. Great income potential.

20. 2025-07-10
    listed $169,900 Active 394-char remark

    Show marketing remark (394 chars)

    Investment Opportunity! Triplex in Martin. 1BR, 1BA per apartment. Close to downtown. Detached garage. 2 bays and storage. Window units for air. Apartment A has gas ventless heat. New flooring in part of this unit. New ceiling fan in bedroom. . Apartment B has upstairs and bedroom and utility are upstairs. New Engineered flooring in living room. Apartment C is rented. Great income potential.

21. 2004-12-09
    soldstatus $103,000
22. 2002-04-26
    soldstatus $51,000

ⓘ 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: $1,200 · $100/mo
• Projected year-2 tax: $1,206 · $101/mo
• Expected delta: +$6/yr (+$1/mo · 0.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% 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: $40,728
• − Mortgage interest: −$9,517
• − Property taxes: −$1,200
• − Insurance: −$850
• − Repairs & maintenance: −$3,258
• − Management: −$3,258
• − Depreciation: −$4,943
• Taxable income: $17,702
• Est. tax owed @ 24.0%: −$4,249
• After-tax cash flow: $15,185/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: Weakley County
• NCES district ID: 4704470
• Math proficiency: 34% ▼ -10.00%
• Reading proficiency: 38% ▼ -2.00%
• Median HH income: $35,389
• Composite: 29.77/100
• National rank: #6434
• State rank: #32 of 139 in TN

Livability — Martin

• Score: 75/100
• State rank: #15
• US rank: #4330

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Martin, TN
• County: Weakley County · 15,627 people
• City population: 15,627
• Metro: Martin, TN
• Population (ZIP): 15,627
• Household income: $51,670
• Rent vs Own: 44.6% rent · 55.4% own
• Severe rent burden: 636.0

Population outlook (Weakley County) Hauer SSP2

• Today (2025): 31,862 people
• By 2030: 30,688 · -3.7%
• By 2040: 27,935 · -12.3%
• By 2050: 25,485 · -20.0%
• By 2075: 21,080 · -33.8%
• By 2100: 18,214 · -42.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 13% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 4% · Canada, Vietnam, South Korea
• Languages at home: 95% English-only · Spanish 2% Vietnamese 1% Other Indo-European 1%

Political lean MEDSL · Weakley

• 2024 margin: Solid R (+58.4) · D 20.3% · R 78.7%
• 2008→2024 swing: -27.2pp toward R · 2008: -31.1pp · 2024: -58.4pp
• All cycles: 2024: R+58.4 2020: R+53.7 2016: R+51.4 2012: R+41.0 2008: R+31.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.05%
• Current HPI: 233.76
• Rent YoY: —
• Metro: Martin, 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

+233.1% since first listed

7 events — show timeline

• 2026-02-20 Relisted — RRAR as distributed by MLS GRID
• 2026-02-01 Delisted — RRAR as distributed by MLS GRID
• 2025-10-17 Relisted — RRAR as distributed by MLS GRID
• 2025-10-09 Contingent — RRAR as distributed by MLS GRID
• 2025-07-10 Listed $169,900 RRAR as distributed by MLS GRID
• 2004-12-09 Sold (Public Records) $103,000 Public Records
• 2002-04-26 Sold (Public Records) $51,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $1,200 · +9.2% YoY. Source: county tax records.