5433 Conifer Ln

Cookeville, TN 38506

$2,100D

3 bd · 2.0 ba · 2,390 sqft · Built 2026 · SingleFamily · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,734/mo
• Mortgage (P&I): −$11
• Tax + insurance: −$4
• HOA: −$0
• Vac / Maint / Mgmt: −$364
• Net cashflow: $1,355/mo
• Annual: $16,266/yr
• Cap rate: 780.85%
• Cash-on-cash: 2766.29%
• DSCR: 124.08
• 1% rule: 82.58%
• Cash to close: $588

Investor read

• This is a 3-bed/2.0-bath single-family listed at $2k.
• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $2k).
• It's been on market 31 days — a 3% lower offer ($2k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $2k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $15 of loan paydown is wiped out by about $63 of value loss. Plan a longer hold.
• 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: 323 active listings in the ZIP; 700 units permitted in Putnam County in 2024 (48 in 5+ unit buildings).
• Putnam County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $588 cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 780.9% 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.

Questions for listing agent

• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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?
• 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?
• 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.