247 Cornwell Avenue 240 A-c Ave · Watertown, TN 37184

$155,000

2 bd · 1.0 ba · 876 sqft · SingleFamily public records · 13 Days on market

Built 1920 9,147 sqft lot Est $105k · 47% over ↓ 6% since listing

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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 +23.8/30.0
• Appreciation +10.0/10.0
• DSCR +7.7/10.0
• 1% rule +4.9/10.0
• Schools +3.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

Great size in historic location. Can have 2-3 BR if sun room is used for BR. A professional carpenter was updating and improving the home, but became very ill and had to go back to Texas. This home is charming 100 yr old home. Many quality features added by carpenter. A few rooms are unfinished. Being sold as is. Beautiful pantry was added in hall entrance. Some beautiful upgrades to kitchen-dining. And you are the beneficiary of a reduced price from planned price if home were were finished. Kitchen and new pantry are very unique. Selling for cash, as probably too much to complete for bank to consider conventional. No FHA, VA etc. High quality work by carpenter. Come see and maybe you ca

Key facts

• Beautiful pantry
• Historic location
• Huge storage barn

Tags

• HISTORIC LOCATION
• BEAUTIFUL PANTRY
• HUGE STORAGE BARN

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (0.6% below list).
• Recommended offer: $154k (0.6% below list) — sets the bar for 1% rule.
• Cap rate 8.6% vs local median 2.9% in Watertown — 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 73/100 on livability (#21 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Wilson County (rural): math 42% / reading 43% proficiency, ranked #10 of 139 in TN (top 7%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Watertown Elementary (math 50% / reading 49%, grade D, #119 of 952 statewide, top 14%, 577 students, 0% FRL); Watertown Middle School (math 22% / reading 24%, grade F, #168 of 333 statewide, top 51%, 338 students, 0% FRL); Watertown High School (math 8% / reading 37%, grade F, #156 of 332 statewide, top 49%, 680 students, 0% FRL) — zoned schools average 0% FRL vs 25% district-wide (25 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 45 active listings in the ZIP; 1,927 units permitted in Wilson County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Wilson County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $154,096 (0.6% below list)

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: 0.99% ✗
• Cap rate: 8.61%
• Cash-on-cash: 8.27%
• DSCR: 1.37
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $105,120
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
239 Commerce Ave	0.40mi	2/1.0	864 (-1%)	11mo	$210,000	$243	70
111 Commerce Ave	0.45mi	2/1.0	924 (+6%)	7mo	$111,000	$120	64
524 E College St	0.17mi	2/1.0	794 (-9%)	20mo	$175,000	$220	60
116 Cornwell Ave	0.22mi	2/1.0	964 (+10%)	17mo	$110,000	$114	59
119 Richland Ave	0.57mi	1/1.0 (-1)	990 (+13%)	5mo	$75,000	$76	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.3%
• Equity multiple: 3.38×
• Total profit: $103,402
• Equity at exit: $139,636

10-year hold

• IRR: 26.2%
• Equity multiple: 7.67×
• Total profit: $289,375
• Equity at exit: $301,131

Cash invested: $43,400 (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 37184

• Home prices YoY: 4.0%
• Active inventory: 45
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,541 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$41 /mo · $489/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $299

Break-even live

Break-even rent $1,162

Max offer price $155,000

Occupancy floor 76%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2025-12-19
   soldstatus $145,000
2. 2025-12-01
   status Pending
3. 2025-11-18
   listed $155,000 Active

ⓘ 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: $489 · $41/mo
• Projected year-2 tax: $1,100 · $92/mo
• Expected delta: +$612/yr (+$51/mo · 125.1%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% 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: $18,492
• − Mortgage interest: −$8,682
• − Property taxes: −$489
• − Insurance: −$775
• − Repairs & maintenance: −$1,479
• − Management: −$1,479
• − Depreciation: −$4,509
• Taxable income: $1,077
• Est. tax owed @ 24.0%: −$259
• After-tax cash flow: $3,332/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: Wilson County
• NCES district ID: 4704550
• Math proficiency: 42% ▼ -11.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $68,429
• Composite: 38.33/100
• National rank: #4225
• State rank: #10 of 139 in TN

Livability — Watertown

• Score: 73/100
• State rank: #21
• US rank: #5029

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Watertown, TN
• Population (ZIP): 7,224

Population outlook (Wilson County) Hauer SSP2

• Today (2025): 160,409 people
• By 2030: 176,099 · +9.8%
• By 2040: 206,769 · +28.9%
• By 2050: 235,383 · +46.7%
• By 2075: 302,144 · +88.4%
• By 2100: 343,710 · +114.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Black 3% Two or more races 2% Asian 1%
• Common ancestry: Lithuanian 2% Romanian 1% Iranian 1%
• Foreign-born: 1% · Philippines
• Languages at home: 98% English-only · Other Asian/Pacific 1% German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Wilson

• 2024 margin: Solid R (+40.1) · D 29.4% · R 69.4% · Other 1.2%
• 2008→2024 swing: -3.5pp toward R · 2008: -36.6pp · 2024: -40.1pp
• All cycles: 2024: R+40.1 2020: R+37.7 2016: R+44.3 2012: R+41.6 2008: R+36.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.35%
• Current HPI: 425.096
• Rent YoY: —
• Metro: —
• 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

-6.5% since first listed

3 events — show timeline

• 2025-12-19 Sold (Public Records) $145,000 Public Records
• 2025-12-01 Pending — GCAR
• 2025-11-18 Listed $155,000 GCAR

Property tax history

+0.9%/yr

Latest (2025): $489 · +0.0% YoY. Source: county tax records.