391 Elm Ave · Lewisburg, TN 37091

$314,000

3 bd · 3.0 ba · 1,488 sqft · SingleFamily public records · 70 Days on market

Built 2023 0.25 ac lot $211/sqft · 16% above area Est $273k · 15% over

---

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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Livability +3.0/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.8/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEW PRICE!! Welcome to this beautifully crafted single-level home in Lewisburg, TN, built in 2023 by a trusted local builder and thoughtfully upgraded for modern living. Situated on a desirable corner lot spanning approximately ¼ acre, this home offers both curb appeal and functionality with a brand new $12,000 concrete double driveway and a welcoming covered front porch. Step inside to an inviting open-concept layout featuring 10-foot ceilings with a trey detail in the living room, creating a bright and airy feel. Durable laminate flooring runs throughout the main living areas, complementing the stylish kitchen complete with granite countertops, white cabinetry, a double sink, and a window overlooking the yard. The spacious dining area is perfect for everyday living or entertaining guests. The home includes 3 bedrooms and 2 full bathrooms, highlighted by a newly renovated $8,000 primary shower that adds a touch of luxury to the private suite. Both bathrooms feature matching granite countertops and white cabinets for a cohesive design. A dedicated laundry room with extra storage enhances convenience, while window blinds throughout the home provide added privacy and move-in-ready appeal. Enjoy outdoor living with a back deck ideal for relaxing or grilling, all set within a quiet, established neighborhood. Located just minutes from Saddle Creek Golf Course, the historic town square, shopping, restaurants, schools, and the local recreation center, this home also offers easy access to I-65—just 10 minutes away. Commutes to Columbia and Spring Hill are approximately 25–30 minutes, and Franklin is only about 40 minutes. Perfect for first-time buyers or those looking to downsize, this nearly new home blends comfort, style, and location in one exceptional package. Floorplan is last photo in media!). Qualified buyers can get up to $3,200 in lender credits with Preferred Lender- see flyer in documents!

Key facts

• 0.25 acre lot
• 4 parking spots
• Built 2023

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $314k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $314k).
• Recommended offer: $295k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 3.6% in Lewisburg — 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 59/100 on livability (#284 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Marshall County (rural): math 31% / reading 29% proficiency, ranked #58 of 139 in TN (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 274 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 400 units permitted in Marshall County in 2024 (75 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Marshall County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $88k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 4 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

• 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 $295,160 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.26% ✓
• Cap rate: 10.85%
• Cash-on-cash: 16.27%
• DSCR: 1.72
• GRM: 6.6

CMA / ARV

• ARV (median comp): $273,179
• List price: $314,000
• Delta: 14.94%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
948 Oak St	0.15mi	3/2.0	1,497 (+1%)	12mo	$271,000	$181	78
188 Trey Dr	0.35mi	3/2.0	1,430 (-4%)	5mo	$275,000	$192	69
930 Oak St	0.16mi	3/2.0	1,361 (-8%)	9mo	$240,000	$176	67
1080 Finley Beech Rd	0.29mi	3/2.0	1,359 (-9%)	10mo	$305,000	$224	60
156 Trey Dr	0.32mi	3/2.0	1,375 (-8%)	13mo	$291,500	$212	58
321 Lexie Dr	0.45mi	3/2.0	1,384 (-7%)	13mo	$300,000	$217	52
310 Lexie Dr	0.45mi	3/2.0	1,354 (-9%)	10mo	$315,000	$233	52
197 Trey Dr	0.39mi	3/2.0	1,341 (-10%)	13mo	$273,900	$204	50
1025 Curtis Springs Ln	0.73mi	3/2.0	1,673 (+12%)	1mo	$299,990	$179	40
1021 Curtis Springs Ln	0.73mi	3/2.0	1,673 (+12%)	3mo	$300,000	$179	39
1002 Nature Ln	0.74mi	3/2.0	1,673 (+12%)	3mo	$300,000	$179	38
1006 Nature Ln	0.74mi	3/2.0	1,673 (+12%)	5mo	$329,990	$197	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.3%
• Equity multiple: 1.28×
• Total profit: $24,976
• Equity at exit: $46,818

10-year hold

• IRR: 16.6%
• Equity multiple: 2.36×
• Total profit: $119,208
• Equity at exit: $27,149

Cash invested: $87,920 (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 37091

• Home prices YoY: -14.6%
• Active inventory: 274
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $3,969 medium
• Mortgage (P&I): −$1,647
• Tax from tax record: −$166 /mo · $1,988/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$833
• Net cashflow: $1,192

Break-even live

Break-even rent $2,460

Max offer price $314,000

Occupancy floor 65%

Sensitivity live

Price	-10% $1,370	-5% $1,281	+0% $1,192	+5% $1,103	+10% $1,015
Rent	-10% $879	-5% $1,036	+0% $1,192	+5% $1,349	+10% $1,506
Rate	-1.0pp $1,350	-0.5pp $1,272	base $1,192	+0.5pp $1,111	+1.0pp $1,028

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: $78,500
• Closing costs: $9,420
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
328 E Church St Lewisburg, TN	2.0	2.0	1000	$4,000	$4.00	44d	1	0.97mi
335 E Hill Ave Lewisburg, TN	3.0	2.0	1800	$5,000	$2.78	44d	1	1.02mi
566 1st Ave N Lewisburg, TN	2.0	1.0	950	$2,250	$2.37	44d	1	1.28mi
423 4th Ave N Lewisburg, TN	2.0	1.0	1086	$790	$0.73	24d	1	1.40mi

Listing history 30 events

1. 2026-06-18
   days on market $314,000 Active 70 DOM
2. 2026-06-17
   days on market $314,000 Active 69 DOM
3. 2026-06-16
   days on market $314,000 Active 68 DOM
4. 2026-06-15
   days on market $314,000 Active 67 DOM
5. 2026-06-13
   days on market $314,000 Active 65 DOM
6. 2026-06-09
   days on market $314,000 Active 61 DOM
7. 2026-06-08
   days on market $314,000 Active 60 DOM
8. 2026-06-07
   days on market $314,000 Active 59 DOM
9. 2026-06-03
   days on market $314,000 Active 55 DOM
10. 2026-06-02
    days on market $314,000 Active 54 DOM
11. 2026-06-01
    days on market $314,000 Active 53 DOM
12. 2026-05-31
    pricedays on market $314,000 Active 52 DOM
13. 2026-05-15
    price $316,900 1944-char remark

    Show marketing remark (1944 chars)

    NEW PRICE!! Welcome to this beautifully crafted single-level home in Lewisburg, TN, built in 2023 by a trusted local builder and thoughtfully upgraded for modern living. Situated on a desirable corner lot spanning approximately ¼ acre, this home offers both curb appeal and functionality with a brand new $12,000 concrete double driveway and a welcoming covered front porch. Step inside to an inviting open-concept layout featuring 10-foot ceilings with a trey detail in the living room, creating a bright and airy feel. Durable laminate flooring runs throughout the main living areas, complementing the stylish kitchen complete with granite countertops, white cabinetry, a double sink, and a window overlooking the yard. The spacious dining area is perfect for everyday living or entertaining guests. The home includes 3 bedrooms and 2 full bathrooms, highlighted by a newly renovated $8,000 primary shower that adds a touch of luxury to the private suite. Both bathrooms feature matching granite countertops and white cabinets for a cohesive design. A dedicated laundry room with extra storage enhances convenience, while window blinds throughout the home provide added privacy and move-in-ready appeal. Enjoy outdoor living with a back deck ideal for relaxing or grilling, all set within a quiet, established neighborhood. Located just minutes from Saddle Creek Golf Course, the historic town square, shopping, restaurants, schools, and the local recreation center, this home also offers easy access to I-65—just 10 minutes away. Commutes to Columbia and Spring Hill are approximately 25–30 minutes, and Franklin is only about 40 minutes. Perfect for first-time buyers or those looking to downsize, this nearly new home blends comfort, style, and location in one exceptional package. Floorplan is last photo in media!). Qualified buyers can get up to $3,200 in lender credits with Preferred Lender- see flyer in documents!

14. 2026-04-29
    price $319,900 1944-char remark

    Show marketing remark (1944 chars)

    NEW PRICE!! Welcome to this beautifully crafted single-level home in Lewisburg, TN, built in 2023 by a trusted local builder and thoughtfully upgraded for modern living. Situated on a desirable corner lot spanning approximately ¼ acre, this home offers both curb appeal and functionality with a brand new $12,000 concrete double driveway and a welcoming covered front porch. Step inside to an inviting open-concept layout featuring 10-foot ceilings with a trey detail in the living room, creating a bright and airy feel. Durable laminate flooring runs throughout the main living areas, complementing the stylish kitchen complete with granite countertops, white cabinetry, a double sink, and a window overlooking the yard. The spacious dining area is perfect for everyday living or entertaining guests. The home includes 3 bedrooms and 2 full bathrooms, highlighted by a newly renovated $8,000 primary shower that adds a touch of luxury to the private suite. Both bathrooms feature matching granite countertops and white cabinets for a cohesive design. A dedicated laundry room with extra storage enhances convenience, while window blinds throughout the home provide added privacy and move-in-ready appeal. Enjoy outdoor living with a back deck ideal for relaxing or grilling, all set within a quiet, established neighborhood. Located just minutes from Saddle Creek Golf Course, the historic town square, shopping, restaurants, schools, and the local recreation center, this home also offers easy access to I-65—just 10 minutes away. Commutes to Columbia and Spring Hill are approximately 25–30 minutes, and Franklin is only about 40 minutes. Perfect for first-time buyers or those looking to downsize, this nearly new home blends comfort, style, and location in one exceptional package. Floorplan is last photo in media!). Qualified buyers can get up to $3,200 in lender credits with Preferred Lender- see flyer in documents!

15. 2026-04-10
    listed $324,900 Active 1944-char remark

    Show marketing remark (1944 chars)

    NEW PRICE!! Welcome to this beautifully crafted single-level home in Lewisburg, TN, built in 2023 by a trusted local builder and thoughtfully upgraded for modern living. Situated on a desirable corner lot spanning approximately ¼ acre, this home offers both curb appeal and functionality with a brand new $12,000 concrete double driveway and a welcoming covered front porch. Step inside to an inviting open-concept layout featuring 10-foot ceilings with a trey detail in the living room, creating a bright and airy feel. Durable laminate flooring runs throughout the main living areas, complementing the stylish kitchen complete with granite countertops, white cabinetry, a double sink, and a window overlooking the yard. The spacious dining area is perfect for everyday living or entertaining guests. The home includes 3 bedrooms and 2 full bathrooms, highlighted by a newly renovated $8,000 primary shower that adds a touch of luxury to the private suite. Both bathrooms feature matching granite countertops and white cabinets for a cohesive design. A dedicated laundry room with extra storage enhances convenience, while window blinds throughout the home provide added privacy and move-in-ready appeal. Enjoy outdoor living with a back deck ideal for relaxing or grilling, all set within a quiet, established neighborhood. Located just minutes from Saddle Creek Golf Course, the historic town square, shopping, restaurants, schools, and the local recreation center, this home also offers easy access to I-65—just 10 minutes away. Commutes to Columbia and Spring Hill are approximately 25–30 minutes, and Franklin is only about 40 minutes. Perfect for first-time buyers or those looking to downsize, this nearly new home blends comfort, style, and location in one exceptional package. Floorplan is last photo in media!). Qualified buyers can get up to $3,200 in lender credits with Preferred Lender- see flyer in documents!

16. 2026-04-08
    historical $324,900 1944-char remark

    Show marketing remark (1944 chars)

    NEW PRICE!! Welcome to this beautifully crafted single-level home in Lewisburg, TN, built in 2023 by a trusted local builder and thoughtfully upgraded for modern living. Situated on a desirable corner lot spanning approximately ¼ acre, this home offers both curb appeal and functionality with a brand new $12,000 concrete double driveway and a welcoming covered front porch. Step inside to an inviting open-concept layout featuring 10-foot ceilings with a trey detail in the living room, creating a bright and airy feel. Durable laminate flooring runs throughout the main living areas, complementing the stylish kitchen complete with granite countertops, white cabinetry, a double sink, and a window overlooking the yard. The spacious dining area is perfect for everyday living or entertaining guests. The home includes 3 bedrooms and 2 full bathrooms, highlighted by a newly renovated $8,000 primary shower that adds a touch of luxury to the private suite. Both bathrooms feature matching granite countertops and white cabinets for a cohesive design. A dedicated laundry room with extra storage enhances convenience, while window blinds throughout the home provide added privacy and move-in-ready appeal. Enjoy outdoor living with a back deck ideal for relaxing or grilling, all set within a quiet, established neighborhood. Located just minutes from Saddle Creek Golf Course, the historic town square, shopping, restaurants, schools, and the local recreation center, this home also offers easy access to I-65—just 10 minutes away. Commutes to Columbia and Spring Hill are approximately 25–30 minutes, and Franklin is only about 40 minutes. Perfect for first-time buyers or those looking to downsize, this nearly new home blends comfort, style, and location in one exceptional package. Floorplan is last photo in media!). Qualified buyers can get up to $3,200 in lender credits with Preferred Lender- see flyer in documents!

17. 2026-03-23
    historical
18. 2026-03-12
    price $324,900
19. 2025-11-08
    price $329,900
20. 2025-10-23
    price $334,900
21. 2025-10-09
    price $339,900
22. 2025-09-19
    listed $349,900 Active
23. 2024-06-14
    soldstatus $294,900 Closed
24. 2024-05-12
    historical Active Under Contract
25. 2024-04-30
    price $289,999
26. 2024-04-16
    status Active
27. 2024-04-14
    historical Active Under Contract
28. 2024-02-25
    listed $299,999 Active
29. 2024-02-22
    historical $299,999
30. 2009-11-19
    soldstatus $101,691

ⓘ 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: $1,988 · $166/mo
• Projected year-2 tax: $2,229 · $186/mo
• Expected delta: +$241/yr (+$20/mo · 12.1%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% 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: $47,627
• − Mortgage interest: −$17,589
• − Property taxes: −$1,988
• − Insurance: −$1,570
• − Repairs & maintenance: −$3,810
• − Management: −$3,810
• − Depreciation: −$9,135
• Taxable income: $9,725
• Est. tax owed @ 24.0%: −$2,334
• After-tax cash flow: $11,973/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: Marshall County
• NCES district ID: 4702670
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 29% ▼ -5.00%
• Median HH income: $43,058
• Composite: 25.56/100
• National rank: #7426
• State rank: #58 of 139 in TN

Livability — Lewisburg

• Score: 59/100
• State rank: #284
• US rank: #20031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lewisburg, TN
• Population (ZIP): 23,991

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 33,222 people
• By 2030: 33,867 · +1.9%
• By 2040: 34,743 · +4.6%
• By 2050: 34,954 · +5.2%
• By 2075: 34,652 · +4.3%
• By 2100: 31,862 · -4.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 8% Black 5% Two or more races 4%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Serbian 4% Slovak 2% Romanian 1%
• Foreign-born: 3% · Canada, Jamaica, Vietnam
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Marshall

• 2024 margin: Solid R (+56.6) · D 21.2% · R 77.8%
• 2008→2024 swing: -17.0pp toward R · 2008: -39.6pp · 2024: -56.6pp
• All cycles: 2024: R+56.6 2020: R+50.0 2016: R+46.6 2012: R+28.9 2008: R+39.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.86%
• Current HPI: 350.5306
• 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

+211.6% since first listed

18 events — show timeline

• 2026-05-15 Price Changed $316,900 REALTRACS as Distributed by MLS Grid
• 2026-04-29 Price Changed $319,900 REALTRACS as Distributed by MLS Grid
• 2026-04-10 Listed $324,900 REALTRACS as Distributed by MLS Grid
• 2026-04-08 Coming Soon $324,900 REALTRACS as Distributed by MLS Grid
• 2026-03-23 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2026-03-12 Price Changed $324,900 REALTRACS as Distributed by MLS Grid
• 2025-11-08 Price Changed $329,900 REALTRACS as Distributed by MLS Grid
• 2025-10-23 Price Changed $334,900 REALTRACS as Distributed by MLS Grid
• 2025-10-09 Price Changed $339,900 REALTRACS as Distributed by MLS Grid
• 2025-09-19 Listed $349,900 REALTRACS as Distributed by MLS Grid
• 2024-06-14 Sold (MLS) $294,900 REALTRACS as Distributed by MLS Grid
• 2024-05-12 Contingent — REALTRACS as Distributed by MLS Grid
• 2024-04-30 Price Changed $289,999 REALTRACS as Distributed by MLS Grid
• 2024-04-16 Relisted — REALTRACS as Distributed by MLS Grid
• 2024-04-14 Contingent — REALTRACS as Distributed by MLS Grid
• 2024-02-25 Listed $299,999 REALTRACS as Distributed by MLS Grid
• 2024-02-22 Coming Soon $299,999 REALTRACS as Distributed by MLS Grid
• 2009-11-19 Sold (Public Records) $101,691 Public Records

Property tax history

+30.7%/yr

Latest (2025): $1,988 · +38.7% YoY. Source: county tax records.