775 Highway 39 E · Athens, TN 37303

$1

0 bd · 5.0 ba · 3,410 sqft · SingleFamily public records · 24 Days on market

Built 1977 57 ac lot

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Why this score? — see what drove the F 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 +7.5/15.0
• Rent growth +3.9/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Saturday, April 11, 10 AM ABSOLUTE AUCTION 57+/- Acres, Home, Shop and All Personal Property Tractors, Implements, Tools, 1964 Piper Pa-30! Athens, Tennessee

Key facts

• 57 acre lot
• 2 parking spots
• Listed 24 days

Property features AI

Finance

• HOA & community: No homeowners association; Subdivision: Metes And Bounds

Exterior

• Parking: 2-space carport
• Utilities: Septic tank sewer
• Home design: Single-family residence; Residential property; Not new construction
• Construction: Brick construction
• Exterior features: 57-acre property; Public water

Interior

• Bathrooms: 4 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Electric cooling
• Interior features: Basement; Two fireplaces

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $480,810 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a ?-bed/5.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $-2k ($-28k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• Cap rate 0.5% vs local median 2.8% in Athens — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 62/100 on livability (#229 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime F, amenities F, commute F.
• Mcminn County (rural): math 24% / reading 29% proficiency, ranked #77 of 139 in TN (top 55%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Englewood Elementary (math 31% / reading 30%, grade F, #408 of 952 statewide, top 43%, 539 students, 0% FRL) — zoned schools average 0% FRL vs 54% district-wide (54 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+5.7%/yr); 272 active listings in the ZIP; 45 units permitted in McMinn County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y 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: property tax is 721215.0% of price.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.26% ✗
• Cap rate: 0.47%
• Cash-on-cash: -20.81%
• DSCR: 0.07
• GRM: 32.0

CMA / ARV

• ARV (on-the-fly): $480,810
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
111 County Road 575	0.62mi	4/3.0 (+4)	3,144 (-8%)	14mo	$442,000	$141	26

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 · 5.72% rent growth · sell at horizon

5-year hold

• IRR: -57.8%
• Equity multiple: -0.66×
• Total profit: $-223,063
• Equity at exit: $71,690

10-year hold

• IRR: —
• Equity multiple: -1.75×
• Total profit: $-370,362
• Equity at exit: $41,572

Cash invested: $134,627 (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 37303

• Rents YoY: 5.7%
• Active inventory: 272

Monthly cashflow live

• Estimated rent: $1,251 medium
• Mortgage (P&I): −$2,521
• Tax est. 1.5%: −$601 /mo · $7,212/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $-2,335

Break-even live

Break-even rent $4,206

Max offer price $143,001

Occupancy floor —

Sensitivity live

Price	-10% $-2,002	-5% $-2,168	+0% $-2,335	+5% $-2,501	+10% $-2,667
Rent	-10% $-2,433	-5% $-2,384	+0% $-2,335	+5% $-2,285	+10% $-2,236
Rate	-1.0pp $-2,092	-0.5pp $-2,212	base $-2,335	+0.5pp $-2,459	+1.0pp $-2,586

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: $120,202
• Closing costs: $14,424
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-04-12
   status Pending
2. 2026-03-19
   listed $1 Active
3. 2013-05-01
   listed $425,000
4. 2013-05-01
   listed $425,000
5. 2004-09-07
   soldstatus $250,000
6. 2004-09-07
   soldstatus $321,000
7. 2004-09-07
   soldstatus $321,000
8. 2004-01-21
   listed $278,500
9. 2000-06-05
   soldstatus $264,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,011
• − Mortgage interest: −$26,933
• − Property taxes: −$7,212
• − Insurance: −$2,404
• − Repairs & maintenance: −$1,201
• − Management: −$1,201
• − Depreciation: −$13,987
• Taxable loss: −$37,927
• Est. tax savings @ 24.0%: +$9,102
• After-tax cash flow: $-18,912/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: Mcminn County
• NCES district ID: 4702820
• Math proficiency: 24% ▼ -11.00%
• Reading proficiency: 29% ▼ -4.00%
• Median HH income: $41,622
• Composite: 22.49/100
• National rank: #8099
• State rank: #77 of 139 in TN

Livability — Athens

• Score: 62/100
• State rank: #229
• US rank: #16961

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: McMinn County · 25,688 people
• City population: 25,688
• Metro: Athens, TN
• Population (ZIP): 25,688
• Household income: $62,078
• Rent vs Own: 29.1% rent · 70.9% own
• Severe rent burden: 450.0

Population outlook (McMinn County) Hauer SSP2

• Today (2025): 53,766 people
• By 2030: 54,098 · +0.6%
• By 2040: 54,450 · +1.3%
• By 2050: 54,202 · +0.8%
• By 2075: 55,241 · +2.7%
• By 2100: 56,399 · +4.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 5% Black 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 2% Slovak 1% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% German/W. Germanic 1% Russian/Polish/Slavic 1%

Political lean MEDSL · McMinn

• 2024 margin: Solid R (+64.2) · D 17.5% · R 81.7%
• 2008→2024 swing: -22.3pp toward R · 2008: -41.9pp · 2024: -64.2pp
• All cycles: 2024: R+64.2 2020: R+60.6 2016: R+59.7 2012: R+46.9 2008: R+41.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -165.98%
• Current HPI: 244.0901
• Rent YoY: ▲ 5.72%
• Metro: Athens, 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

+61.0% since first listed

9 events — show timeline

• 2026-04-12 Pending — VMLS
• 2026-03-19 Listed $1 VMLS
• 2013-05-01 Listed $425,000 RCAOR
• 2013-05-01 Listed $425,000 Knoxville MLS
• 2004-09-07 Sold (Public Records) $321,000 Public Records
• 2004-09-07 Sold (Public Records) $321,000 Public Records
• 2004-09-07 Sold (Public Records) $250,000 Public Records
• 2004-01-21 Listed $278,500 Knoxville MLS
• 2000-06-05 Sold (Public Records) $264,000 Public Records