860 Berry St NE · Cleveland, TN 37311

$220,000

4 bd · 2.0 ba · 1,120 sqft · MultiFamily public records · 105 Days on market

Built 1940 6,534 sqft 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 +25.4/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Fully renovated duplex! Each unit features 2 bedrooms and 1 bathroom. New roof, plumbing, electrical, mini splits, siding, windows, and much more!

Key facts

• New siding
• New electrical
• New roof

Tags

• FULLY RENOVATED DUPLEX
• STRONG INCOME POTENTIAL
• NEW WINDOWS
• NEW SIDING
• NEW ROOF
• NEW ELECTRICAL

Property features AI

Finance

• Other: Approximately 1,120 above-grade finished area
• Financial info: Residential income property (duplex)
• HOA & community: No community features listed

Exterior

• Parking: Gravel parking; Off-street parking; On-street parking; Unpaved parking areas
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Duplex (residential income); Two levels; Updated/remodeled condition
• Construction: Stucco and vinyl siding exterior; Shingle roof; Slab foundation; Built with two-story design
• Exterior features: Side porch; City lot with front yard; Cleared, level lot; Asphalt road frontage on a city street

Interior

• Kitchen: Refrigerator; Microwave; Dishwasher; Free-standing electric range/oven; Free-standing freezer
• Bedrooms: Duplex configuration (separate living units)
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Ductless heating; Ductless cooling
• Interior features: Updated/remodeled interiors; Exhaust fan; Electric water heater
• Laundry & utility: No laundry hookups listed

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $503 ($6k/yr) — positive. Per door: $252/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Recommended offer: $200k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 3.5% in Cleveland — 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 70/100 on livability (#55 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment D, crime F, amenities F.
• Cleveland (urban): math 23% / reading 28% proficiency, ranked #85 of 139 in TN (top 61%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Blythe-Bower Elementary (math 16% / reading 20%, grade F, #697 of 952 statewide, top 74%, 636 students, 0% FRL) — zoned schools average 0% FRL vs 53% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.0%/yr); 196 active listings in the ZIP; 768 units permitted in Bradley County in 2024 (0 in 5+ unit buildings).
• At $2,325/mo this rent would consume 59% of the median local household income ($47k/yr) (locally 1184% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Bradley County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($200k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.06% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.80%
• DSCR: 1.44
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.95% rent growth · sell at horizon

5-year hold

• IRR: -1.6%
• Equity multiple: 0.94×
• Total profit: $-3,791
• Equity at exit: $32,803

10-year hold

• IRR: 8.0%
• Equity multiple: 1.60×
• Total profit: $37,172
• Equity at exit: $19,022

Cash invested: $61,600 (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 37311

• Home prices YoY: -25.4%
• Rents YoY: 3.0%
• Active inventory: 196
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $2,325 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$88 /mo · $1,057/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $503

Break-even live

Break-even rent $1,688

Max offer price $220,000

Occupancy floor 73%

Sensitivity live

Price	-10% $628	-5% $566	+0% $503	+5% $441	+10% $379
Rent	-10% $320	-5% $411	+0% $503	+5% $595	+10% $687
Rate	-1.0pp $614	-0.5pp $559	base $503	+0.5pp $446	+1.0pp $388

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,324
Total (2 units)			$2,325

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $220,000 Active 105 DOM
2. 2026-06-18
   days on market $220,000 Active 104 DOM
3. 2026-06-17
   days on market $220,000 Active 103 DOM
4. 2026-06-16
   days on market $220,000 Active 102 DOM
5. 2026-06-15
   days on market $220,000 Active 101 DOM
6. 2026-06-14
   days on market $220,000 Active 99 DOM
7. 2026-06-13
   days on market $220,000 Active 98 DOM
8. 2026-06-10
   days on market $220,000 Active 96 DOM
9. 2026-06-09
   days on market $220,000 Active 95 DOM
10. 2026-06-08
    days on market $220,000 Active 94 DOM
11. 2026-06-07
    days on market $220,000 Active 93 DOM
12. 2026-06-05
    days on market $220,000 Active 90 DOM
13. 2026-06-03
    days on market $220,000 Active 89 DOM
14. 2026-06-02
    days on market $220,000 Active 88 DOM
15. 2026-06-01
    days on market $220,000 Active 87 DOM
16. 2026-05-31
    days on market $220,000 Active 86 DOM
17. 2026-05-30
    days on market $220,000 Active 85 DOM
18. 2026-05-12
    price $220,000
19. 2026-04-06
    price $225,000
20. 2026-03-06
    listed $230,000 Active
21. 2024-09-09
    soldstatus $198,980 Closed 146-char remark

    Show marketing remark (146 chars)

    Fully renovated duplex! Each unit features 2 bedrooms and 1 bathroom. New roof, plumbing, electrical, mini splits, siding, windows, and much more!

22. 2024-09-03
    status Pending 146-char remark

    Show marketing remark (146 chars)

    Fully renovated duplex! Each unit features 2 bedrooms and 1 bathroom. New roof, plumbing, electrical, mini splits, siding, windows, and much more!

23. 2024-07-15
    price $199,900 146-char remark

    Show marketing remark (146 chars)

    Fully renovated duplex! Each unit features 2 bedrooms and 1 bathroom. New roof, plumbing, electrical, mini splits, siding, windows, and much more!

24. 2024-05-30
    listed $210,000 Active 146-char remark

    Show marketing remark (146 chars)

    Fully renovated duplex! Each unit features 2 bedrooms and 1 bathroom. New roof, plumbing, electrical, mini splits, siding, windows, and much more!

25. 2023-08-10
    soldstatus $40,000
26. 2003-06-09
    soldstatus $12,000

ⓘ 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: $1,057 · $88/mo
• Projected year-2 tax: $1,562 · $130/mo
• Expected delta: +$505/yr (+$42/mo · 47.8%)

ⓘ 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 6/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,900
• − Mortgage interest: −$12,323
• − Property taxes: −$1,057
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,232
• − Management: −$2,232
• − Depreciation: −$6,400
• Taxable income: $2,556
• Est. tax owed @ 24.0%: −$613
• After-tax cash flow: $5,426/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: Cleveland
• NCES district ID: 4700690
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 28% ▼ -6.00%
• Median HH income: $37,612
• Composite: 21.28/100
• National rank: #8394
• State rank: #85 of 139 in TN

Livability — Cleveland

• Score: 70/100
• State rank: #55
• US rank: #7689

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cleveland, TN
• County: Bradley County · 99,337 people
• City population: 99,337
• Metro: Cleveland, TN
• Population (ZIP): 30,720
• Household income: $47,153
• Rent vs Own: 53.4% rent · 46.6% own
• Severe rent burden: 1184.0

Population outlook (Bradley County) Hauer SSP2

• Today (2025): 114,901 people
• By 2030: 120,137 · +4.6%
• By 2040: 130,125 · +13.2%
• By 2050: 139,257 · +21.2%
• By 2075: 161,664 · +40.7%
• By 2100: 179,767 · +56.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 12% Black 9% Two or more races 6%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Slovak 3% Serbian 2% Italian 1%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 9% Russian/Polish/Slavic 1%

Political lean MEDSL · Bradley

• 2024 margin: Solid R (+58.9) · D 20.0% · R 78.9% · Other 1.1%
• 2008→2024 swing: -9.2pp toward R · 2008: -49.7pp · 2024: -58.9pp
• All cycles: 2024: R+58.9 2020: R+55.3 2016: R+59.1 2012: R+53.9 2008: R+49.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.10%
• Current HPI: 285.0723
• Rent YoY: ▲ 2.95%
• Metro: Cleveland, 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

+1733.3% since first listed

9 events — show timeline

• 2026-05-12 Price Changed $220,000 GCAR
• 2026-04-06 Price Changed $225,000 GCAR
• 2026-03-06 Listed $230,000 GCAR
• 2024-09-09 Sold (MLS) $198,980 RCAOR
• 2024-09-03 Pending — RCAOR
• 2024-07-15 Price Changed $199,900 RCAOR
• 2024-05-30 Listed $210,000 RCAOR
• 2023-08-10 Sold (Public Records) $40,000 Public Records
• 2003-06-09 Sold (Public Records) $12,000 Public Records

Property tax history

+12.5%/yr

Latest (2025): $1,057 · +116.6% YoY. Source: county tax records.