603 Depot St · Paris, TN 38242

$8,500

2 bd · 1.0 ba · 868 sqft · SingleFamily public records · 113 Days on market

Built 1920 5,227 sqft lot

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investors special. Possible tear down, or bring it back to life! Will need lots of major repairs. Serious inquires only. Agent has an ownership interest in Owner/Entity. All information deemed reliable but not guaranteed. Buyer/Buyers Agent to verify. The property was purchased via tax sale. Buyer will receive a WARRANTY DEED.

Key facts

• 5,227 sq ft lot
• Built 1920
• Listed 112 days

Property features AI

Exterior

• Utilities: Public water
• Home design: Single-family residence; One story
• Exterior features: Lot approximately 0.12 acres; Lot dimensions about 41 x 128 x 41 x 127

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom (main level)
• Interior features: 3 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $8k.

Deal economics

• At list price, monthly cash flow is $610 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($848 rent vs $8k).
• Recommended offer: $8k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#13 in TN, #4,115 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, schools D, commute F.
• Paris (town): math 42% / reading 32% proficiency, ranked #28 of 139 in TN (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 186 active listings in the ZIP; 19 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $59 of loan paydown is wiped out by about $255 of value loss. Plan a longer hold.
• Henry County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($8k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $6k (43%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $6k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $7,735 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 9.98% ✓
• Cap rate: 92.45%
• Cash-on-cash: 307.70%
• DSCR: 14.69
• GRM: 0.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 16.76×
• Total profit: $37,505
• Equity at exit: $1,267

10-year hold

• IRR: —
• Equity multiple: 35.77×
• Total profit: $82,763
• Equity at exit: $735

Cash invested: $2,380 (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 38242

• Home prices YoY: -17.6%
• Active inventory: 186
• Price-to-rent: 0.8×

Monthly cashflow live

• Estimated rent: $848 medium
• Mortgage (P&I): −$45
• Tax from tax record: −$12 /mo · $139/yr
• Insurance: −$4
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $610

Break-even live

Break-even rent $76

Max offer price $8,500

Occupancy floor 23%

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: $2,125
• Closing costs: $255
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $8,500 Active 113 DOM
2. 2026-06-17
   days on market $8,500 Active 112 DOM
3. 2026-06-16
   days on market $8,500 Active 111 DOM
4. 2026-06-15
   days on market $8,500 Active 110 DOM
5. 2026-06-13
   days on market $8,500 Active 108 DOM
6. 2026-06-12
   days on market $8,500 Active 107 DOM
7. 2026-06-09
   days on market $8,500 Active 104 DOM
8. 2026-06-08
   days on market $8,500 Active 103 DOM
9. 2026-06-08
   days on market $8,500 Active 102 DOM
10. 2026-06-07
    pricedays on market $8,500 Active 101 DOM
11. 2026-06-03
    days on market $9,000 Active 98 DOM
12. 2026-06-02
    days on market $9,000 Active 97 DOM
13. 2026-06-01
    days on market $9,000 Active 96 DOM
14. 2026-05-31
    days on market $9,000 Active 95 DOM
15. 2026-05-19
    price $9,000
16. 2026-05-08
    price $12,000
17. 2026-02-25
    listed $15,000 Active
18. 2025-08-14
    historical
19. 2025-07-26
    listed $12,500 Active
20. 2002-09-03
    soldstatus $5,800

ⓘ 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: $139 · $12/mo
• Projected year-2 tax: $139 · $12/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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°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: $10,177
• − Mortgage interest: −$476
• − Property taxes: −$139
• − Insurance: −$42
• − Repairs & maintenance: −$814
• − Management: −$814
• − Depreciation: −$247
• Taxable income: $7,644
• Est. tax owed @ 24.0%: −$1,834
• After-tax cash flow: $5,489/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: Paris
• NCES district ID: 4703360
• Math proficiency: 42% ▼ -4.00%
• Reading proficiency: 32% ▼ -2.00%
• Median HH income: $30,045
• Composite: 30.15/100
• National rank: #6330
• State rank: #28 of 139 in TN

Livability — Paris

• Score: 75/100
• State rank: #13
• US rank: #4115

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paris, TN
• City population: 19,619
• Population (ZIP): 19,619

Population outlook (Henry County) Hauer SSP2

• Today (2025): 31,750 people
• By 2030: 31,277 · -1.5%
• By 2040: 30,064 · -5.3%
• By 2050: 28,675 · -9.7%
• By 2075: 25,767 · -18.8%
• By 2100: 22,318 · -29.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 10% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 2% Spanish 2%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+55.3) · D 21.8% · R 77.1% · Other 1.1%
• 2008→2024 swing: -33.0pp toward R · 2008: -22.4pp · 2024: -55.3pp
• All cycles: 2024: R+55.3 2020: R+51.1 2016: R+49.8 2012: R+30.2 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.93%
• Current HPI: 234.3442
• 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

+55.2% since first listed

6 events — show timeline

• 2026-05-19 Price Changed $9,000 CWTAR
• 2026-05-08 Price Changed $12,000 CWTAR
• 2026-02-25 Listed $15,000 CWTAR
• 2025-08-14 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2025-07-26 Listed $12,500 REALTRACS as Distributed by MLS Grid
• 2002-09-03 Sold (Public Records) $5,800 Public Records

Property tax history

+1.0%/yr

Latest (2025): $139 · +7.8% YoY. Source: county tax records.