113 Monticello Ln

Fairfield Glade, TN 38558

$127,000B

2 bd · 2.0 ba · 880 sqft · Built 1998 · Manufactured · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,809/mo
• Mortgage (P&I): −$666
• Tax + insurance: −$212
• HOA: −$110
• Vac / Maint / Mgmt: −$380
• Net cashflow: $441/mo
• Annual: $5,295/yr
• Cap rate: 10.46%
• Cash-on-cash: 14.89%
• DSCR: 1.66
• 1% rule: 1.42%
• Cash to close: $35,560

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $127k.
• At list price, monthly cash flow is $441 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $127k).
• It's been on market 37 days — a 3% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $123k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-2.1%/yr); year-one equity from $878 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#249 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: schools D, amenities F, commute F.
• Cumberland County (rural): math 30% / reading 31% proficiency, ranked #59 of 139 in TN (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 603 active listings in the ZIP; 114 units permitted in Cumberland County in 2024 (0 in 5+ unit buildings).
• Cumberland County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 5 sale attempts since 24y 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.
• Current owner paid $40k; list at $127k implies a 217% gain — meaningful room to come down on a strong offer.
• At projected returns (-2.1% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 10.5% vs local median 2.2% in Fairfield Glade — 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 37 days. Have you received any prior offers? Is the seller open to a 3% 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.