1703 Perimeter Dr

Jamestown, TN 38556

$244,929C-

3 bd · 2.0 ba · 1,223 sqft · Built 1995 · SingleFamily · Active · 104 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,300/mo
• Mortgage (P&I): −$1,284
• Tax + insurance: −$145
• HOA: −$4
• Vac / Maint / Mgmt: −$483
• Net cashflow: $384/mo
• Annual: $4,607/yr
• Cap rate: 8.17%
• Cash-on-cash: 6.72%
• DSCR: 1.30
• 1% rule: 0.94%
• Cash to close: $68,580

Investor read

• This is a 3-bed/2.0-bath single-family listed at $245k.
• At list price, monthly cash flow is $384 ($5k/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 $230k (6.1% below list).
• It's been on market 104 days — a 9% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $223k (9.0% below list) — sets the bar for market timing.
• In year one you build about $26k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• Location reads 61/100 on livability (#250 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: housing D, crime F, amenities F.
• Fentress County (rural): math 24% / reading 27% proficiency, ranked #91 of 139 in TN (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: South Fentress Elementary School (math 19% / reading 25%, grade F, #601 of 952 statewide, top 66%, 632 students, 0% FRL); Clarkrange High School (math 17% / reading 44%, grade F, #73 of 332 statewide, top 22%, 260 students, 0% FRL) — zoned schools average 0% FRL vs 65% district-wide (65 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 325 active listings in the ZIP; 1 comparable units currently listed for rent nearby.
• Fentress County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 10 sale attempts since 4y 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $69k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.2% vs local median 4.6% in Jamestown — 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.

Questions for listing agent

• It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.