224 Hickory Ave · Lewisburg, TN 37091

$334,900

3 bd · 1.0 ba · 918 sqft · SingleFamily public records · 1 Days on market

Built 2026 0.33 ac lot

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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 +24.4/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• Livability +3.0/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment or fixer upper, this 2 bedroom one bath home is right in town. The central unit doesn't work. The storage building in back remains with the property. The home needs some work, Some of the floors in the home are weak and not level. Be careful when showing the home. Bing Sold AS IS, Seller to make no repairs. Buyer and or Buyers agent to verify all pertinent information to them.

Key facts

• Quartz countertops
• Open floorplan
• Upgraded finishes

Tags

• OPEN FLOORPLAN
• UPGRADED FINISHES
• CUSTOM BUILT-INS
• ELECTRIC FIREPLACE
• QUARTZ COUNTERTOPS
• TILE BACKSPLASH

Property features AI

Finance

• HOA & community: Pets allowed

Exterior

• Parking: No covered spaces listed; No total parking spaces listed
• Utilities: Public water; Public sewer; Water available
• Home design: Single-family residence; One story; New construction
• Construction: Brick and vinyl siding exterior; Asphalt roof; Slab foundation; New construction
• Exterior features: Covered porch; Covered deck; Porch; Deck; Cleared lot

Interior

• Kitchen: Electric range; Dishwasher; Garbage disposal; Microwave; Stainless steel appliances; Kitchen island
• Bedrooms: Three bedrooms (all on the main level); Primary bedroom with walk-in closet (approx. 14 x 13); Second bedroom approx. 12 x 11; Third bedroom approx. 12 x 11
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air conditioning; Has heating and cooling
• Interior features: Bookcases; Built-in features; Ceiling fans; Open floorplan; Walk-in closets; Kitchen island
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $335k.

Deal economics

• At list price, monthly cash flow is $680 ($8k/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 $334k (0.4% below list).
• Recommended offer: $334k (0.4% below list) — sets the bar for 1% rule.
• Cap rate 8.7% vs local median 3.6% in Lewisburg — 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 59/100 on livability (#284 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Marshall County (rural): math 31% / reading 29% proficiency, ranked #58 of 139 in TN (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Marshall Co High School (math 17% / reading 35%, grade F, #117 of 332 statewide, top 37%, 815 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: 274 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 400 units permitted in Marshall County in 2024 (75 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Marshall County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

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 $140k; list at $335k implies a 139% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $333,645 (0.4% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 1.00% ✗
• Cap rate: 8.73%
• Cash-on-cash: 8.70%
• DSCR: 1.39
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $201,042
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
575 Belfast St	0.10mi	3/1.0	924 (+1%)	19mo	$186,500	$202	78
755 Center St	0.13mi	3/1.0	825 (-10%)	6mo	$224,900	$273	72
756 Center St	0.13mi	3/1.0	840 (-8%)	14mo	$125,000	$149	68
319 Coleman St	0.44mi	2/1.0 (-1)	940 (+2%)	6mo	$75,000	$80	65
729 North St	0.08mi	2/1.0 (-1)	816 (-11%)	9mo	$199,900	$245	65
337 Hickory Cir	0.51mi	2/1.0 (-1)	856 (-7%)	8mo	$225,000	$263	53
532 Harwell Ave	0.31mi	2/1.0 (-1)	828 (-10%)	13mo	$181,300	$219	53
447 Coleman St	0.27mi	3/2.0	1,008 (+10%)	23mo	$225,000	$223	48
830 Finley Beech Rd	0.52mi	2/1.0 (-1)	807 (-12%)	22mo	$78,000	$97	32

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: -3.2%
• Equity multiple: 0.88×
• Total profit: $-11,155
• Equity at exit: $49,935

10-year hold

• IRR: 6.5%
• Equity multiple: 1.48×
• Total profit: $45,331
• Equity at exit: $28,956

Cash invested: $93,772 (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 37091

• Home prices YoY: -14.6%
• Active inventory: 274
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $3,336 medium
• Mortgage (P&I): −$1,756
• Tax from tax record: −$60 /mo · $725/yr
• Insurance: −$140
• HOA: −$0
• Vacancy / Maint / Mgmt: −$701
• Net cashflow: $680

Break-even live

Break-even rent $2,476

Max offer price $334,900

Occupancy floor 75%

Sensitivity live

Price	-10% $869	-5% $774	+0% $680	+5% $585	+10% $90
Rent	-10% $416	-5% $548	+0% $680	+5% $811	+10% $943
Rate	-1.0pp $848	-0.5pp $765	base $680	+0.5pp $593	+1.0pp $505

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: $83,725
• Closing costs: $10,047
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
328 E Church St Lewisburg, TN	2.0	2.0	1000	$4,000	$4.00	44d	1	0.55mi
566 1st Ave N Lewisburg, TN	2.0	1.0	950	$2,250	$2.37	44d	1	0.94mi
423 4th Ave N Lewisburg, TN	2.0	1.0	1086	$790	$0.73	24d	1	0.96mi
708 Woodlawn Ave Lewisburg, TN	2.0	1.0	837	$899	$1.07	17d	1	1.19mi

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $334,900 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: $725 · $60/mo
• Projected year-2 tax: $2,378 · $198/mo
• Expected delta: +$1,653/yr (+$138/mo · 228.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $40,037
• − Mortgage interest: −$18,760
• − Property taxes: −$725
• − Insurance: −$1,674
• − Repairs & maintenance: −$3,203
• − Management: −$3,203
• − Depreciation: −$9,743
• Taxable income: $2,730
• Est. tax owed @ 24.0%: −$655
• After-tax cash flow: $7,500/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: Marshall County
• NCES district ID: 4702670
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 29% ▼ -5.00%
• Median HH income: $43,058
• Composite: 25.56/100
• National rank: #7426
• State rank: #58 of 139 in TN

Livability — Lewisburg

• Score: 59/100
• State rank: #284
• US rank: #20031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lewisburg, TN
• Population (ZIP): 23,991

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 33,222 people
• By 2030: 33,867 · +1.9%
• By 2040: 34,743 · +4.6%
• By 2050: 34,954 · +5.2%
• By 2075: 34,652 · +4.3%
• By 2100: 31,862 · -4.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 8% Black 5% Two or more races 4%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Serbian 4% Slovak 2% Romanian 1%
• Foreign-born: 3% · Canada, Jamaica, Vietnam
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Marshall

• 2024 margin: Solid R (+56.6) · D 21.2% · R 77.8%
• 2008→2024 swing: -17.0pp toward R · 2008: -39.6pp · 2024: -56.6pp
• All cycles: 2024: R+56.6 2020: R+50.0 2016: R+46.6 2012: R+28.9 2008: R+39.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.86%
• Current HPI: 350.5306
• 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

+605.1% since first listed

6 events — show timeline

• 2026-06-18 Listed $334,900 REALTRACS as Distributed by MLS Grid
• 2026-02-09 Sold (Public Records) $140,000 Public Records
• 2025-11-04 Sold (MLS) $100,000 REALTRACS as Distributed by MLS Grid
• 2025-10-03 Pending — REALTRACS as Distributed by MLS Grid
• 2025-09-26 Listed $139,900 REALTRACS as Distributed by MLS Grid
• 2003-04-22 Sold (Public Records) $47,500 Public Records

Property tax history

+3.7%/yr

Latest (2025): $725 · +7.9% YoY. Source: county tax records.