61 Brazzle Rd

Waverly, TN 37185

$99,999B+

4 bd · 1.0 ba · 1,410 sqft · Built 1956 · SingleFamily · Pending · 202 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,520/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$72
• HOA: −$0
• Vac / Maint / Mgmt: −$319
• Net cashflow: $605/mo
• Annual: $7,259/yr
• Cap rate: 13.55%
• Cash-on-cash: 25.92%
• DSCR: 2.15
• 1% rule: 1.52%
• Cash to close: $28,000

Investor read

• This is a 4-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $605 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• It's been on market 202 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#209 in TN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: amenities F, commute F, employment F.
• Humphreys County (rural): math 21% / reading 24% proficiency, ranked #103 of 139 in TN (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Waverly Elementary (math 47% / reading 37%, grade F, #191 of 952 statewide, top 22%, 359 students, 0% FRL); Waverly Central High School (math 8% / reading 37%, grade F, #156 of 332 statewide, top 49%, 503 students, 0% FRL) — zoned schools average 0% FRL vs 49% district-wide (49 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 155 active listings in the ZIP; 39 units permitted in Humphreys County in 2024 (0 in 5+ unit buildings).
• Humphreys County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $75k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.
• 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.
• Cap rate 13.6% vs local median 2.8% in Waverly — 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.

Questions for listing agent

• It's been on market 202 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1956 — 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 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?
• 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.
• 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.
• 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.