408 W High St · Manchester, TN 37355

$210,000

3 bd · 3.0 ba · 1,838 sqft · SingleFamily public records · 10 Days on market

Built 1920 9,147 sqft lot Est $285k · 26% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +14.6/30.0
• DSCR +4.4/10.0
• 1% rule +3.4/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3-Bedroom Home with Modern Amenities in Prime Location. This beautifully maintained 3-bedroom, 2.5-bathroom home offers the perfect blend of comfort and convenience. Located in an established neighborhood, the home features high ceilings, newer appliances (all included), and thoughtful upgrades throughout. Enjoy outdoor living with a large back deck, ideal for entertaining, and a spacious covered front porch for relaxing mornings or evenings. The property also includes a custom fire pit, a 6-person hot tub, and a 12x24 barn for extra storage. Conveniently located within walking distance to Manchester Square, where you can enjoy local craft beer, boutique shopping, and a variety of restaurants. The nearby recreation center and park make it perfect for those with an active lifestyle. Plus, easy access to Interstate 24 ensures quick commutes to Murfreesboro and Nashville. This home has been truly loved and cared for-schedule a tour to experience it for yourself! Owner/agent.

Key facts

• Large living room
• Full bath
• 9,147 sq ft lot

Tags

• LARGE LIVING ROOM
• ADJOINING DINING AREA
• PRIMARY BEDROOM ON MAIN LEVEL
• FULL BATH

Property features AI

Finance

• Other: Living area reported as 1,685 square feet

Exterior

• Parking: Attached parking; Carport with 2 covered spaces (total 2 parking spaces)
• Utilities: Public water; Public sewer; Water available
• Home design: Single family residence; Residential property; Two levels; Existing construction
• Construction: Vinyl siding
• Exterior features: Porch, covered porch, deck, patio; Lot approximately 0.21 acre (100x100 irregular)

Interior

• Kitchen: Eat-in kitchen; Electric range, dishwasher, microwave
• Bedrooms: 3 bedrooms total; 1 bedroom on the main level; Bedroom sizes: 15x11, 15x11, 11x9
• Flooring: Laminate
• Bathrooms: 2 full baths; 1 half bath
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Electric range, dishwasher, microwave; Laminate flooring; Crawl space basement
• Laundry & utility: Utility room (11x6)

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $49 ($585/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 $175k (16.5% below list).
• Recommended offer: $175k (16.5% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.1% in Manchester — 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 58/100 on livability (#305 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Manchester (town): math 31% / reading 29% proficiency, ranked #61 of 139 in TN (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: College Street Elementary (math 42% / reading 32%, grade F, #272 of 952 statewide, top 31%, 547 students, 0% FRL) — zoned schools average 0% FRL vs 52% district-wide (52 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 209 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 389 units permitted in Coffee County in 2024 (6 in 5+ unit buildings).
• This rent runs 33% of the median local income ($63k/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 $6k of value loss. Plan a longer hold.
• Coffee County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 11y 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.

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 $175,358 (16.5% 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 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?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.84% ✗
• Cap rate: 6.57%
• Cash-on-cash: 0.99%
• DSCR: 1.04
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $284,890
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 W High St	0.00mi	3/2.5	1,685 (-8%)	0mo	$210,000	$125	84
512 W High St	0.09mi	3/2.5	1,680 (-9%)	8mo	$160,000	$95	73
303 Willow St	0.45mi	3/2.0	1,838 (0%)	4mo	$224,000	$122	71
440 Woodrow St	0.41mi	3/2.0	1,910 (+4%)	7mo	$296,000	$155	65
507 Riverside Dr	0.50mi	3/2.0	1,935 (+5%)	12mo	$333,800	$173	54
210 Rigney Dr	0.65mi	4/2.0 (+1)	1,757 (-4%)	2mo	$315,000	$179	52
110 Phillips Dr	0.67mi	4/2.5 (+1)	1,670 (-9%)	5mo	$314,990	$189	42

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: -14.7%
• Equity multiple: 0.47×
• Total profit: $-30,969
• Equity at exit: $31,312

10-year hold

• IRR: -6.1%
• Equity multiple: 0.61×
• Total profit: $-23,149
• Equity at exit: $18,157

Cash invested: $58,800 (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 37355

• Home prices YoY: -7.5%
• Active inventory: 209
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,754 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$148 /mo · $1,774/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $49

Break-even live

Break-even rent $1,692

Max offer price $210,000

Occupancy floor 92%

Sensitivity live

Price	-10% $168	-5% $108	+0% $49	+5% $-11	+10% $-70
Rent	-10% $-90	-5% $-21	+0% $49	+5% $118	+10% $187
Rate	-1.0pp $154	-0.5pp $102	base $49	+0.5pp $-6	+1.0pp $-61

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
296 Hunt St Manchester, TN	2.0	2.0	1400	$1,490	$1.06	45d	1	0.77mi

Listing history 21 events

1. 2026-05-01
   status Pending
2. 2026-04-21
   listed $210,000 Active
3. 2025-07-06
   historical $2,500
4. 2025-06-04
   listed $2,500
5. 2024-10-31
   soldstatus $280,000 Closed 999-char remark

   Show marketing remark (999 chars)

   Charming 3-Bedroom Home with Modern Amenities in Prime Location. This beautifully maintained 3-bedroom, 2.5-bathroom home offers the perfect blend of comfort and convenience. Located in an established neighborhood, the home features high ceilings, newer appliances (all included), and thoughtful upgrades throughout. Enjoy outdoor living with a large back deck, ideal for entertaining, and a spacious covered front porch for relaxing mornings or evenings. The property also includes a custom fire pit, a 6-person hot tub, and a 12x24 barn for extra storage. Conveniently located within walking distance to Manchester Square, where you can enjoy local craft beer, boutique shopping, and a variety of restaurants. The nearby recreation center and park make it perfect for those with an active lifestyle. Plus, easy access to Interstate 24 ensures quick commutes to Murfreesboro and Nashville. This home has been truly loved and cared for-schedule a tour to experience it for yourself! Owner/agent.

6. 2024-10-28
   status Pending 999-char remark

   Show marketing remark (999 chars)

   Charming 3-Bedroom Home with Modern Amenities in Prime Location. This beautifully maintained 3-bedroom, 2.5-bathroom home offers the perfect blend of comfort and convenience. Located in an established neighborhood, the home features high ceilings, newer appliances (all included), and thoughtful upgrades throughout. Enjoy outdoor living with a large back deck, ideal for entertaining, and a spacious covered front porch for relaxing mornings or evenings. The property also includes a custom fire pit, a 6-person hot tub, and a 12x24 barn for extra storage. Conveniently located within walking distance to Manchester Square, where you can enjoy local craft beer, boutique shopping, and a variety of restaurants. The nearby recreation center and park make it perfect for those with an active lifestyle. Plus, easy access to Interstate 24 ensures quick commutes to Murfreesboro and Nashville. This home has been truly loved and cared for-schedule a tour to experience it for yourself! Owner/agent.

7. 2024-10-07
   historical Active Under Contract 999-char remark

   Show marketing remark (999 chars)

   Charming 3-Bedroom Home with Modern Amenities in Prime Location. This beautifully maintained 3-bedroom, 2.5-bathroom home offers the perfect blend of comfort and convenience. Located in an established neighborhood, the home features high ceilings, newer appliances (all included), and thoughtful upgrades throughout. Enjoy outdoor living with a large back deck, ideal for entertaining, and a spacious covered front porch for relaxing mornings or evenings. The property also includes a custom fire pit, a 6-person hot tub, and a 12x24 barn for extra storage. Conveniently located within walking distance to Manchester Square, where you can enjoy local craft beer, boutique shopping, and a variety of restaurants. The nearby recreation center and park make it perfect for those with an active lifestyle. Plus, easy access to Interstate 24 ensures quick commutes to Murfreesboro and Nashville. This home has been truly loved and cared for-schedule a tour to experience it for yourself! Owner/agent.

8. 2024-09-18
   price $275,000 999-char remark

   Show marketing remark (999 chars)

   Charming 3-Bedroom Home with Modern Amenities in Prime Location. This beautifully maintained 3-bedroom, 2.5-bathroom home offers the perfect blend of comfort and convenience. Located in an established neighborhood, the home features high ceilings, newer appliances (all included), and thoughtful upgrades throughout. Enjoy outdoor living with a large back deck, ideal for entertaining, and a spacious covered front porch for relaxing mornings or evenings. The property also includes a custom fire pit, a 6-person hot tub, and a 12x24 barn for extra storage. Conveniently located within walking distance to Manchester Square, where you can enjoy local craft beer, boutique shopping, and a variety of restaurants. The nearby recreation center and park make it perfect for those with an active lifestyle. Plus, easy access to Interstate 24 ensures quick commutes to Murfreesboro and Nashville. This home has been truly loved and cared for-schedule a tour to experience it for yourself! Owner/agent.

9. 2024-09-17
   price $285,000 999-char remark

   Show marketing remark (999 chars)

   Charming 3-Bedroom Home with Modern Amenities in Prime Location. This beautifully maintained 3-bedroom, 2.5-bathroom home offers the perfect blend of comfort and convenience. Located in an established neighborhood, the home features high ceilings, newer appliances (all included), and thoughtful upgrades throughout. Enjoy outdoor living with a large back deck, ideal for entertaining, and a spacious covered front porch for relaxing mornings or evenings. The property also includes a custom fire pit, a 6-person hot tub, and a 12x24 barn for extra storage. Conveniently located within walking distance to Manchester Square, where you can enjoy local craft beer, boutique shopping, and a variety of restaurants. The nearby recreation center and park make it perfect for those with an active lifestyle. Plus, easy access to Interstate 24 ensures quick commutes to Murfreesboro and Nashville. This home has been truly loved and cared for-schedule a tour to experience it for yourself! Owner/agent.

10. 2024-09-06
    listed $290,000 Active 999-char remark

    Show marketing remark (999 chars)

    Charming 3-Bedroom Home with Modern Amenities in Prime Location. This beautifully maintained 3-bedroom, 2.5-bathroom home offers the perfect blend of comfort and convenience. Located in an established neighborhood, the home features high ceilings, newer appliances (all included), and thoughtful upgrades throughout. Enjoy outdoor living with a large back deck, ideal for entertaining, and a spacious covered front porch for relaxing mornings or evenings. The property also includes a custom fire pit, a 6-person hot tub, and a 12x24 barn for extra storage. Conveniently located within walking distance to Manchester Square, where you can enjoy local craft beer, boutique shopping, and a variety of restaurants. The nearby recreation center and park make it perfect for those with an active lifestyle. Plus, easy access to Interstate 24 ensures quick commutes to Murfreesboro and Nashville. This home has been truly loved and cared for-schedule a tour to experience it for yourself! Owner/agent.

11. 2024-09-01
    historical $290,000 999-char remark

    Show marketing remark (999 chars)

    Charming 3-Bedroom Home with Modern Amenities in Prime Location. This beautifully maintained 3-bedroom, 2.5-bathroom home offers the perfect blend of comfort and convenience. Located in an established neighborhood, the home features high ceilings, newer appliances (all included), and thoughtful upgrades throughout. Enjoy outdoor living with a large back deck, ideal for entertaining, and a spacious covered front porch for relaxing mornings or evenings. The property also includes a custom fire pit, a 6-person hot tub, and a 12x24 barn for extra storage. Conveniently located within walking distance to Manchester Square, where you can enjoy local craft beer, boutique shopping, and a variety of restaurants. The nearby recreation center and park make it perfect for those with an active lifestyle. Plus, easy access to Interstate 24 ensures quick commutes to Murfreesboro and Nashville. This home has been truly loved and cared for-schedule a tour to experience it for yourself! Owner/agent.

12. 2019-09-11
    historical
13. 2019-08-27
    status Active
14. 2019-08-22
    status Pending
15. 2019-08-02
    listed $119,900 Active
16. 2016-01-02
    soldstatus $106,000 Closed
17. 2015-12-31
    soldstatus $106,000
18. 2015-11-30
    historical Contingent - Financing
19. 2015-09-15
    listed $112,000 Active
20. 2007-06-12
    soldstatus $32,000
21. 2006-06-30
    soldstatus $35,000

ⓘ 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: $1,774 · $148/mo
• Projected year-2 tax: $1,774 · $148/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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,043
• − Mortgage interest: −$11,763
• − Property taxes: −$1,774
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,683
• − Management: −$1,683
• − Depreciation: −$6,109
• Taxable loss: −$3,020
• Est. tax savings @ 24.0%: +$725
• After-tax cash flow: $1,310/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: Manchester
• NCES district ID: 4702610
• Math proficiency: 31% ▼ -4.00%
• Reading proficiency: 29% ▼ -5.00%
• Median HH income: $41,102
• Composite: 25.37/100
• National rank: #7472
• State rank: #61 of 139 in TN

Livability — Manchester

• Score: 58/100
• State rank: #305
• US rank: #20837

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manchester, TN
• County: Coffee County · 57,744 people
• City population: 29,805
• Metro: Tullahoma-Manchester, TN
• Population (ZIP): 29,805
• Household income: $63,357
• Rent vs Own: 30.1% rent · 69.9% own
• Severe rent burden: 401.0

Population outlook (Coffee County) Hauer SSP2

• Today (2025): 57,234 people
• By 2030: 58,571 · +2.3%
• By 2040: 60,972 · +6.5%
• By 2050: 62,537 · +9.3%
• By 2075: 65,694 · +14.8%
• By 2100: 63,355 · +10.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 5% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 1% Romanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Coffee

• 2024 margin: Solid R (+55.1) · D 21.8% · R 76.9% · Other 1.3%
• 2008→2024 swing: -25.7pp toward R · 2008: -29.4pp · 2024: -55.1pp
• All cycles: 2024: R+55.1 2020: R+50.2 2016: R+48.6 2012: R+37.1 2008: R+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -27.43%
• Current HPI: 336.5317
• Rent YoY: —
• Metro: Tullahoma-Manchester, 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

+500.0% since first listed

21 events — show timeline

• 2026-05-01 Pending — REALTRACS as Distributed by MLS Grid
• 2026-04-21 Listed $210,000 REALTRACS as Distributed by MLS Grid
• 2025-07-06 Rental Removed $2,500 TURBOTENANT
• 2025-06-04 Listed for Rent $2,500 TURBOTENANT
• 2024-10-31 Sold (MLS) $280,000 REALTRACS as Distributed by MLS Grid
• 2024-10-28 Pending — REALTRACS as Distributed by MLS Grid
• 2024-10-07 Contingent — REALTRACS as Distributed by MLS Grid
• 2024-09-18 Price Changed $275,000 REALTRACS as Distributed by MLS Grid
• 2024-09-17 Price Changed $285,000 REALTRACS as Distributed by MLS Grid
• 2024-09-06 Listed $290,000 REALTRACS as Distributed by MLS Grid
• 2024-09-01 Coming Soon $290,000 REALTRACS as Distributed by MLS Grid
• 2019-09-11 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2019-08-27 Relisted — REALTRACS as Distributed by MLS Grid
• 2019-08-22 Pending — REALTRACS as Distributed by MLS Grid
• 2019-08-02 Listed $119,900 REALTRACS as Distributed by MLS Grid
• 2016-01-02 Sold (MLS) $106,000 REALTRACS as Distributed by MLS Grid
• 2015-12-31 Sold (Public Records) $106,000 Public Records
• 2015-11-30 Contingent — REALTRACS as Distributed by MLS Grid
• 2015-09-15 Listed $112,000 REALTRACS as Distributed by MLS Grid
• 2007-06-12 Sold (Public Records) $32,000 Public Records
• 2006-06-30 Sold (Public Records) $35,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $1,774 · +36.4% YoY. Source: county tax records.