309 Polk St · Columbia, TN 38401

$120,000

2 bd · 1.0 ba · 924 sqft · SingleFamily public records · 1 Days on market

Built 1960 6,969 sqft lot Est $223k · 46% under ↓ 20% 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 +25.2/30.0
• ARV discount +15.0/15.0
• DSCR +8.3/10.0
• 1% rule +5.5/10.0
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2 bed, 1 bath home featuring a spacious living room and versatile bonus room. Home is situated on a level lot with mature trees in the backyard. Convenient to shopping and dining. This property offers excellent potential as a rental investment. Property is being sold "AS IS, WHERE IS". Information is deemed reliable but not guaranteed, and should be independently reviewed and verified for accuracy by Buyer.

Key facts

• Level lot
• Versatile bonus room
• Spacious living room

Tags

• SPACIOUS LIVING ROOM
• VERSATILE BONUS ROOM
• LEVEL LOT
• MATURE TREES

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Water available
• Home design: Single-family residence; One story; Entry level: main level
• Construction: Vinyl siding; Block foundation; Built (existing) — year not specified
• Exterior features: Level lot; Lot dimensions approx. 60 x 111.9

Interior

• Kitchen: Electric oven; Electric range; Kitchen approx. 8x10
• Bedrooms: 2 bedrooms (both on the main level) — approx. 10x10 each
• Flooring: Carpet; Wood; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Heating present (other type); Cooling via wall/window unit(s)
• Interior features: Ceiling fan(s)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $268 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 9.0% vs local median 2.8% in Columbia — 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 63/100 on livability (#207 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, crime F.
• Maury County (town): math 19% / reading 21% proficiency, ranked #108 of 139 in TN (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: J. Brown Elementary (math 17% / reading 12%, grade F, #753 of 952 statewide, top 81%, 335 students, 0% FRL); Columbia Central High School (math 7% / reading 27%, grade F, #225 of 332 statewide, top 69%, 1,474 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+5.0%/yr); 1118 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,650 units permitted in Maury County in 2024 (60 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Maury County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $57k; list at $120k implies a 112% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1960 — 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. 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. 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 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: 1.05% ✓
• Cap rate: 8.97%
• Cash-on-cash: 9.56%
• DSCR: 1.43
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $222,684
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
307 Polk St	0.01mi	3/1.0 (+1)	893 (-3%)	4mo	$90,000	$101	86
1912 Cherry St	0.08mi	2/1.0	825 (-11%)	1mo	$210,000	$255	77
1610 Blocker Cir	0.54mi	2/1.0	900 (-3%)	1mo	$217,000	$241	70
1904 Cherry St	0.12mi	3/1.0 (+1)	1,040 (+13%)	2mo	$207,000	$199	67
1509 Bailey St	0.49mi	2/1.0	893 (-3%)	6mo	$90,000	$101	66
1899 Cherry St	0.14mi	3/1.0 (+1)	1,047 (+13%)	0mo	$245,900	$235	66
311 E 17th St	0.30mi	2/2.0	833 (-10%)	6mo	$190,000	$228	61
111 E 15th St	0.50mi	2/2.0	1,008 (+9%)	2mo	$245,000	$243	56
104 Beech St	0.24mi	3/1.0 (+1)	1,050 (+14%)	8mo	$255,000	$243	54
317 E 17th St	0.29mi	3/2.0 (+1)	1,056 (+14%)	2mo	$210,000	$199	52
1918 Overton Dr	0.69mi	2/1.0	1,008 (+9%)	7mo	$247,000	$245	47
1812 Cherokee Dr	0.74mi	2/1.0	802 (-13%)	1mo	$240,224	$300	43

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 · 4.97% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $112
• Equity at exit: $17,892

10-year hold

• IRR: 11.5%
• Equity multiple: 1.98×
• Total profit: $32,762
• Equity at exit: $10,375

Cash invested: $33,600 (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 38401

• Home prices YoY: -22.7%
• Rents YoY: 5.0%
• Active inventory: 1118
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,260 high
• Mortgage (P&I): −$629
• Tax from tax record: −$48 /mo · $581/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $268

Break-even live

Break-even rent $921

Max offer price $120,000

Occupancy floor 74%

Sensitivity live

Price	-10% $336	-5% $302	+0% $268	+5% $234	+10% $200
Rent	-10% $168	-5% $218	+0% $268	+5% $318	+10% $367
Rate	-1.0pp $328	-0.5pp $298	base $268	+0.5pp $237	+1.0pp $205

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1901 Cherry St Columbia, TN	2.0	1.0	676	$1,650	$2.44	44d	1	0.11mi
314 E Highland Dr Columbia, TN	2.0	1.0	692	$1,150	$1.66	44d	1	0.12mi
314 E 18th St Columbia, TN	3.0	1.0	988	$999	$1.01	15d	1	0.14mi
207 E 16th St Unit A Columbia, TN	1.0	1.0	796	$700	$0.88	44d	1	0.34mi
216 E 15th St Columbia, TN	1.0	1.0	558	$700	$1.25	44d	1	0.38mi
1510 Whatley St Columbia, TN	2.0	1.0	832	$1,050	$1.26	13d	1	0.41mi
220 E 14th St Unit A Columbia, TN	1.0	1.0	537	$700	$1.30	44d	1	0.45mi
109 E 15th St Columbia, TN	2.0	1.0	812	$1,500	$1.85	44d	1	0.47mi
1315 S High St Columbia, TN	1.0	1.0	800	$1,000	$1.25	4d	1	0.71mi
2411 Pulaski Hwy Columbia, TN	1.0–3.0	1.0–2.0	1042	$1,474	$1.41	2d	12	0.85mi
100 Stonebridge Way Columbia, TN	2.0–3.0	2.0	1067	$1,045	$0.98	2d	4	0.86mi
322 W 12th St Unit 1 Columbia, TN	1.0	1.0	790	$1,100	$1.39	2d	1	0.89mi
1214 School St Columbia, TN	2.0	1.0	1036	$1,300	$1.25	24d	1	0.93mi
2516 Pitts Ct Columbia, TN	1.0–4.0	1.0–2.0	896	$1,533	$1.71	5d	6	0.99mi
917 S High St Unit A Columbia, TN	1.0	1.0	700	$1,083	$1.55	44d	1	1.11mi
908 Mapleash Ave Columbia, TN	3.0	2.0	1112	$1,750	$1.57	18d	1	1.11mi
2701 McIntosh Dr Unit A Columbia, TN	2.0	1.5	1008	$1,250	$1.24	18d	1	1.33mi
2701 McIntosh Dr Unit A Columbia, TN	2.0	1.5	1008	$1,250	$1.24	15d	1	1.33mi
212 W 6th St Unit 8 Columbia, TN	1.0	1.0	677	$1,150	$1.70	44d	1	1.38mi

Listing history 3 events

1. 2026-06-10
   status $120,000 Pending 1 DOM
2. 2026-06-08
   remarks 419-char remark
3. 2026-06-08
   listed $120,000 Active 1 DOM

ⓘ 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: $581 · $48/mo
• Projected year-2 tax: $852 · $71/mo
• Expected delta: +$271/yr (+$23/mo · 46.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% 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: $15,121
• − Mortgage interest: −$6,722
• − Property taxes: −$581
• − Insurance: −$600
• − Repairs & maintenance: −$1,210
• − Management: −$1,210
• − Depreciation: −$3,491
• Taxable income: $1,308
• Est. tax owed @ 24.0%: −$314
• After-tax cash flow: $2,899/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: Maury County
• NCES district ID: 4702760
• Math proficiency: 19% ▼ -5.00%
• Reading proficiency: 21% ▼ -4.00%
• Median HH income: $47,668
• Composite: 17.69/100
• National rank: #9024
• State rank: #108 of 139 in TN

Livability — Columbia

• Score: 63/100
• State rank: #207
• US rank: #16090

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbia, TN
• County: Maury County · 121,382 people
• City population: 67,482
• Metro: Nashville-Davidson--Murfreesboro--Franklin, TN
• Population (ZIP): 67,482
• Household income: $68,475
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 2026.0

Population outlook (Maury County) Hauer SSP2

• Today (2025): 102,894 people
• By 2030: 110,269 · +7.2%
• By 2040: 124,426 · +20.9%
• By 2050: 137,543 · +33.7%
• By 2075: 167,438 · +62.7%
• By 2100: 184,489 · +79.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 12% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 1% Serbian 1% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Maury

• 2024 margin: Solid R (+44.6) · D 27.1% · R 71.8% · Other 1.1%
• 2008→2024 swing: -6.2pp toward R · 2008: -38.4pp · 2024: -44.6pp
• All cycles: 2024: R+44.6 2020: R+36.5 2016: R+39.2 2012: R+26.9 2008: R+38.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.75%
• Current HPI: 343.0362
• Rent YoY: ▲ 4.97%
• Metro: Nashville-Davidson--Murfreesboro--Franklin, 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

-20.0% since first listed

5 events — show timeline

• 2026-06-08 Listed $120,000 REALTRACS as Distributed by MLS Grid
• 2025-09-25 Sold (Public Records) $56,719 Public Records
• 2025-09-05 Pending — REALTRACS as Distributed by MLS Grid
• 2025-09-05 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2025-08-29 Listed $150,000 REALTRACS as Distributed by MLS Grid

Property tax history

+4.9%/yr

Latest (2025): $581 · +0.0% YoY. Source: county tax records.