208 S Russell St · Portland, TN 37148

$169,000

3 bd · 2.0 ba · 1,955 sqft · SingleFamily public records · 5 Days on market

Built 1920 0.37 ac lot Est $321k · 47% under

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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 +28.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.2/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the timeless charm of this 1920 Victorian cottage, perfectly nestled in the heart of Portland, TN. This 3-bedroom, 1-bathroom home is filled with character and offers endless possibilities for investors, first-time buyers, or those looking to restore a piece of history. Situated on a sizable lot with mature trees and plenty of room for landscaping or potential expansion. The home is being sold as-is, providing the perfect canvas for modern updates while preserving its historical charm.

Key facts

• Large lots
• Historic home
• Mature trees

Tags

• HISTORIC HOME
• MATURE TREES
• LARGE LOTS

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: No covered or designated parking recorded
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Other construction materials
• Exterior features: Lot approximately 0.37 acre (80 x 189 irregular); Water available

Interior

• Kitchen: Electric oven; Electric range; Dishwasher
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Wood flooring; Laminate flooring; Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Wood heating; Wall/window air-conditioning units
• Interior features: Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $561 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Cap rate 10.3% vs local median 3.6% in Portland — 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 66/100 on livability (#122 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Sumner County (suburban): math 44% / reading 39% proficiency, ranked #12 of 139 in TN (top 9%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Watt Hardison Elementary (math 37% / reading 37%, grade F, #272 of 952 statewide, top 31%, 445 students, 0% FRL); Portland High School (math 17% / reading 30%, grade F, #145 of 332 statewide, top 44%, 1,199 students, 0% FRL) — zoned schools average 0% FRL vs 34% district-wide (34 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 305 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,748 units permitted in Sumner County in 2024 (124 in 5+ unit buildings).
• This rent runs 30% of the median local income ($82k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Sumner County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $47k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y ago 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 $30k; list at $169k implies a 463% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• 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 $169,000

Questions for the listing agent

1. Built in 1920 — 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 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. 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.
5. 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.
6. 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: 1.22% ✓
• Cap rate: 10.28%
• Cash-on-cash: 14.24%
• DSCR: 1.63
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $320,620
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
889 Parkside Blvd	0.45mi	4/2.5 (+1)	1,990 (+2%)	1mo	$324,990	$163	68
884 Parkside Blvd	0.48mi	4/2.5 (+1)	1,990 (+2%)	1mo	$319,990	$161	67
865 Parkside Blvd	0.43mi	4/2.5 (+1)	1,990 (+2%)	4mo	$340,000	$171	66
876 Parkside Blvd	0.48mi	4/2.5 (+1)	1,990 (+2%)	2mo	$345,990	$174	66
601 S Russell St	0.30mi	2/2.5 (-1)	1,820 (-7%)	2mo	$289,000	$159	66
873 Parkside Blvd	0.43mi	4/2.5 (+1)	1,825 (-7%)	3mo	$313,000	$172	59
880 Parkside Blvd	0.49mi	4/2.5 (+1)	1,825 (-7%)	1mo	$318,990	$175	58
877 Parkside Blvd	0.44mi	4/3.0 (+1)	2,170 (+11%)	4mo	$354,990	$164	49
872 Parkside Blvd	0.48mi	4/3.0 (+1)	2,170 (+11%)	2mo	$349,990	$161	49
864 Parkside Blvd	0.47mi	4/3.0 (+1)	2,170 (+11%)	4mo	$349,990	$161	47
126 Old Westmoreland Rd	0.57mi	3/2.5	2,210 (+13%)	4mo	$430,000	$195	46
302 Church St	0.53mi	4/2.0 (+1)	1,688 (-14%)	4mo	$225,374	$134	44

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.6%
• Equity multiple: 1.18×
• Total profit: $8,347
• Equity at exit: $25,198

10-year hold

• IRR: 14.0%
• Equity multiple: 2.12×
• Total profit: $53,205
• Equity at exit: $14,612

Cash invested: $47,320 (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 37148

• Home prices YoY: -22.2%
• Active inventory: 305
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,069 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$117 /mo · $1,400/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $561

Break-even live

Break-even rent $1,359

Max offer price $169,000

Occupancy floor 68%

Sensitivity live

Price	-10% $657	-5% $609	+0% $561	+5% $514	+10% $466
Rent	-10% $398	-5% $480	+0% $561	+5% $643	+10% $725
Rate	-1.0pp $647	-0.5pp $604	base $561	+0.5pp $518	+1.0pp $473

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
123 Hood Trl Portland, TN	3.0	2.0	1640	$2,100	$1.28	24d	1	0.39mi
889 Parkside Blvd Portland, TN	4.0	2.5	1990	$2,395	$1.20	15d	1	0.44mi

Listing history 10 events

1. 2026-06-01
   days on market $169,000 Active 5 DOM
2. 2026-05-31
   days on market $169,000 Active 4 DOM
3. 2026-05-27
   listed $169,000 Active
4. 2026-01-01
   historical 499-char remark

   Show marketing remark (499 chars)

   Discover the timeless charm of this 1920 Victorian cottage, perfectly nestled in the heart of Portland, TN. This 3-bedroom, 1-bathroom home is filled with character and offers endless possibilities for investors, first-time buyers, or those looking to restore a piece of history. Situated on a sizable lot with mature trees and plenty of room for landscaping or potential expansion. The home is being sold as-is, providing the perfect canvas for modern updates while preserving its historical charm.

5. 2025-08-11
   price $199,900 499-char remark

   Show marketing remark (499 chars)

   Discover the timeless charm of this 1920 Victorian cottage, perfectly nestled in the heart of Portland, TN. This 3-bedroom, 1-bathroom home is filled with character and offers endless possibilities for investors, first-time buyers, or those looking to restore a piece of history. Situated on a sizable lot with mature trees and plenty of room for landscaping or potential expansion. The home is being sold as-is, providing the perfect canvas for modern updates while preserving its historical charm.

6. 2025-06-02
   listed $221,500 Active 499-char remark

   Show marketing remark (499 chars)

   Discover the timeless charm of this 1920 Victorian cottage, perfectly nestled in the heart of Portland, TN. This 3-bedroom, 1-bathroom home is filled with character and offers endless possibilities for investors, first-time buyers, or those looking to restore a piece of history. Situated on a sizable lot with mature trees and plenty of room for landscaping or potential expansion. The home is being sold as-is, providing the perfect canvas for modern updates while preserving its historical charm.

7. 2025-06-01
   historical 500-char remark

   Show marketing remark (500 chars)

   Discover the timeless charm of this 1920 Victorian cottage, perfectly nestled in the heart of Portland, TN. This 3-bedroom, 1-bathroom home is filled with character and offers endless possibilities for investors, first-time buyers, or those looking to restore a piece of history. Situated on a sizable lot with mature trees and plenty of room for landscaping or potential expansion. The home is being sold as-is, providing the perfect canvas for modern updates while preserving its historical charm.

8. 2025-04-18
   price $229,000 500-char remark

   Show marketing remark (500 chars)

   Discover the timeless charm of this 1920 Victorian cottage, perfectly nestled in the heart of Portland, TN. This 3-bedroom, 1-bathroom home is filled with character and offers endless possibilities for investors, first-time buyers, or those looking to restore a piece of history. Situated on a sizable lot with mature trees and plenty of room for landscaping or potential expansion. The home is being sold as-is, providing the perfect canvas for modern updates while preserving its historical charm.

9. 2024-11-18
   listed $249,900 Active 500-char remark

   Show marketing remark (500 chars)

   Discover the timeless charm of this 1920 Victorian cottage, perfectly nestled in the heart of Portland, TN. This 3-bedroom, 1-bathroom home is filled with character and offers endless possibilities for investors, first-time buyers, or those looking to restore a piece of history. Situated on a sizable lot with mature trees and plenty of room for landscaping or potential expansion. The home is being sold as-is, providing the perfect canvas for modern updates while preserving its historical charm.

10. 1997-03-19
    soldstatus $30,000

ⓘ 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: $1,400 · $117/mo
• Projected year-2 tax: $1,400 · $117/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,832
• − Mortgage interest: −$9,467
• − Property taxes: −$1,400
• − Insurance: −$845
• − Repairs & maintenance: −$1,987
• − Management: −$1,987
• − Depreciation: −$4,916
• Taxable income: $4,231
• Est. tax owed @ 24.0%: −$1,015
• After-tax cash flow: $5,722/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: Sumner County
• NCES district ID: 4704020
• Math proficiency: 44% ▼ -11.00%
• Reading proficiency: 39% ▼ -5.00%
• Median HH income: $56,998
• Composite: 36.44/100
• National rank: #4667
• State rank: #12 of 139 in TN

Livability — Portland

• Score: 66/100
• State rank: #122
• US rank: #11795

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portland, TN
• County: Sumner County · 196,654 people
• City population: 26,274
• Metro: Nashville-Davidson--Murfreesboro--Franklin, TN
• Population (ZIP): 26,274
• Household income: $81,633
• Rent vs Own: 24.3% rent · 75.7% own
• Severe rent burden: 319.0

Population outlook (Sumner County) Hauer SSP2

• Today (2025): 208,284 people
• By 2030: 223,902 · +7.5%
• By 2040: 253,892 · +21.9%
• By 2050: 281,199 · +35.0%
• By 2075: 344,866 · +65.6%
• By 2100: 384,369 · +84.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 6% Two or more races 4% Black 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 3% Serbian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Sumner

• 2024 margin: Solid R (+41.8) · D 28.5% · R 70.3% · Other 1.1%
• 2008→2024 swing: -6.9pp toward R · 2008: -34.9pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.6 2016: R+45.0 2012: R+42.0 2008: R+34.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.34%
• Current HPI: 315.8252
• Rent YoY: —
• 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

+463.3% since first listed

8 events — show timeline

• 2026-05-27 Listed $169,000 REALTRACS as Distributed by MLS Grid
• 2026-01-01 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2025-08-11 Price Changed $199,900 REALTRACS as Distributed by MLS Grid
• 2025-06-02 Listed $221,500 REALTRACS as Distributed by MLS Grid
• 2025-06-01 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2025-04-18 Price Changed $229,000 REALTRACS as Distributed by MLS Grid
• 2024-11-18 Listed $249,900 REALTRACS as Distributed by MLS Grid
• 1997-03-19 Sold (Public Records) $30,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $1,400 · +0.0% YoY. Source: county tax records.