126 Armory Dr · Lewisburg, TN 37091

$312,000

3 bd · 2.0 ba · 2,004 sqft · SingleFamily public records

Built 1954 0.59 ac lot Est $407k · 23% under ↓ 8% since listing

---

Why this score? — see what drove the B+ 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.0/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready - This beautiful, 3BR, 2BA home is situated on a large lot with mature trees and is only a few minutes from anywhere in town. Renovations completed within the past few years include a kitchen makeover, a two-car carport, a concrete driveway, and replacement windows. Kitchen appliances, along with the washer and dryer, will remain with the house. Other features include a large primary bedroom with ensuite, a covered patio overlooking the fenced back yard, and a comfortable Florida room - perfect for reading and relaxing. The seller maintains a pest contract with Cook's Pest Control. The security system will remain with the home.

Key facts

• 0.59 acre lot
• Garage
• Built 1954

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $312k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $312k).
• Cap rate 14.2% 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: crime F, amenities F, commute 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.
• Zoned schools: Marshall Co High School (math 17% / reading 35%, grade F, #117 of 332 statewide, top 37%, 815 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 274 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $87k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $312,000

Questions for the listing agent

1. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.60% ✓
• Cap rate: 14.22%
• Cash-on-cash: 28.31%
• DSCR: 2.26
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $406,812
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1183 Finley Beech Rd	0.61mi	3/2.5	1,960 (-2%)	3mo	$370,000	$189	64
3016 Cambridge Ct	0.62mi	3/2.5	2,025 (+1%)	12mo	$415,000	$205	57
1195 Finley Beech Rd	0.67mi	3/2.0	1,922 (-4%)	12mo	$390,000	$203	51

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: 22.5%
• Equity multiple: 1.92×
• Total profit: $80,599
• Equity at exit: $46,520

10-year hold

• IRR: 30.5%
• Equity multiple: 3.73×
• Total profit: $238,824
• Equity at exit: $26,976

Cash invested: $87,360 (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: 5.2×

Monthly cashflow live

• Estimated rent: $5,000 medium
• Mortgage (P&I): −$1,636
• Tax from tax record: −$123 /mo · $1,478/yr
• Insurance: −$130
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,050
• Net cashflow: $2,061

Break-even live

Break-even rent $2,392

Max offer price $312,000

Occupancy floor 54%

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: $78,000
• Closing costs: $9,360
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
335 E Hill Ave Lewisburg, TN	3.0	2.0	1800	$5,000	$2.78	43d	1	0.88mi

Listing history 12 events

1. 2026-03-20
   listed $312,000
2. 2026-03-19
   historical
3. 2026-02-14
   historical 649-char remark

   Show marketing remark (649 chars)

   Move-in ready - This beautiful, 3BR, 2BA home is situated on a large lot with mature trees and is only a few minutes from anywhere in town. Renovations completed within the past few years include a kitchen makeover, a two-car carport, a concrete driveway, and replacement windows. Kitchen appliances, along with the washer and dryer, will remain with the house. Other features include a large primary bedroom with ensuite, a covered patio overlooking the fenced back yard, and a comfortable Florida room - perfect for reading and relaxing. The seller maintains a pest contract with Cook's Pest Control. The security system will remain with the home.

4. 2026-02-04
   price $311,400 649-char remark

   Show marketing remark (649 chars)

   Move-in ready - This beautiful, 3BR, 2BA home is situated on a large lot with mature trees and is only a few minutes from anywhere in town. Renovations completed within the past few years include a kitchen makeover, a two-car carport, a concrete driveway, and replacement windows. Kitchen appliances, along with the washer and dryer, will remain with the house. Other features include a large primary bedroom with ensuite, a covered patio overlooking the fenced back yard, and a comfortable Florida room - perfect for reading and relaxing. The seller maintains a pest contract with Cook's Pest Control. The security system will remain with the home.

5. 2025-12-04
   status Active 649-char remark

   Show marketing remark (649 chars)

   Move-in ready - This beautiful, 3BR, 2BA home is situated on a large lot with mature trees and is only a few minutes from anywhere in town. Renovations completed within the past few years include a kitchen makeover, a two-car carport, a concrete driveway, and replacement windows. Kitchen appliances, along with the washer and dryer, will remain with the house. Other features include a large primary bedroom with ensuite, a covered patio overlooking the fenced back yard, and a comfortable Florida room - perfect for reading and relaxing. The seller maintains a pest contract with Cook's Pest Control. The security system will remain with the home.

6. 2025-11-21
   historical Active Under Contract 649-char remark

   Show marketing remark (649 chars)

   Move-in ready - This beautiful, 3BR, 2BA home is situated on a large lot with mature trees and is only a few minutes from anywhere in town. Renovations completed within the past few years include a kitchen makeover, a two-car carport, a concrete driveway, and replacement windows. Kitchen appliances, along with the washer and dryer, will remain with the house. Other features include a large primary bedroom with ensuite, a covered patio overlooking the fenced back yard, and a comfortable Florida room - perfect for reading and relaxing. The seller maintains a pest contract with Cook's Pest Control. The security system will remain with the home.

7. 2025-11-12
   price $311,900 649-char remark

   Show marketing remark (649 chars)

   Move-in ready - This beautiful, 3BR, 2BA home is situated on a large lot with mature trees and is only a few minutes from anywhere in town. Renovations completed within the past few years include a kitchen makeover, a two-car carport, a concrete driveway, and replacement windows. Kitchen appliances, along with the washer and dryer, will remain with the house. Other features include a large primary bedroom with ensuite, a covered patio overlooking the fenced back yard, and a comfortable Florida room - perfect for reading and relaxing. The seller maintains a pest contract with Cook's Pest Control. The security system will remain with the home.

8. 2025-10-17
   price $314,900 649-char remark

   Show marketing remark (649 chars)

   Move-in ready - This beautiful, 3BR, 2BA home is situated on a large lot with mature trees and is only a few minutes from anywhere in town. Renovations completed within the past few years include a kitchen makeover, a two-car carport, a concrete driveway, and replacement windows. Kitchen appliances, along with the washer and dryer, will remain with the house. Other features include a large primary bedroom with ensuite, a covered patio overlooking the fenced back yard, and a comfortable Florida room - perfect for reading and relaxing. The seller maintains a pest contract with Cook's Pest Control. The security system will remain with the home.

9. 2025-09-24
   price $319,900 649-char remark

   Show marketing remark (649 chars)

   Move-in ready - This beautiful, 3BR, 2BA home is situated on a large lot with mature trees and is only a few minutes from anywhere in town. Renovations completed within the past few years include a kitchen makeover, a two-car carport, a concrete driveway, and replacement windows. Kitchen appliances, along with the washer and dryer, will remain with the house. Other features include a large primary bedroom with ensuite, a covered patio overlooking the fenced back yard, and a comfortable Florida room - perfect for reading and relaxing. The seller maintains a pest contract with Cook's Pest Control. The security system will remain with the home.

10. 2025-09-10
    price $324,900 649-char remark

    Show marketing remark (649 chars)

    Move-in ready - This beautiful, 3BR, 2BA home is situated on a large lot with mature trees and is only a few minutes from anywhere in town. Renovations completed within the past few years include a kitchen makeover, a two-car carport, a concrete driveway, and replacement windows. Kitchen appliances, along with the washer and dryer, will remain with the house. Other features include a large primary bedroom with ensuite, a covered patio overlooking the fenced back yard, and a comfortable Florida room - perfect for reading and relaxing. The seller maintains a pest contract with Cook's Pest Control. The security system will remain with the home.

11. 2025-09-02
    price $329,900 649-char remark

    Show marketing remark (649 chars)

    Move-in ready - This beautiful, 3BR, 2BA home is situated on a large lot with mature trees and is only a few minutes from anywhere in town. Renovations completed within the past few years include a kitchen makeover, a two-car carport, a concrete driveway, and replacement windows. Kitchen appliances, along with the washer and dryer, will remain with the house. Other features include a large primary bedroom with ensuite, a covered patio overlooking the fenced back yard, and a comfortable Florida room - perfect for reading and relaxing. The seller maintains a pest contract with Cook's Pest Control. The security system will remain with the home.

12. 2025-08-19
    listed $339,900 Active 649-char remark

    Show marketing remark (649 chars)

    Move-in ready - This beautiful, 3BR, 2BA home is situated on a large lot with mature trees and is only a few minutes from anywhere in town. Renovations completed within the past few years include a kitchen makeover, a two-car carport, a concrete driveway, and replacement windows. Kitchen appliances, along with the washer and dryer, will remain with the house. Other features include a large primary bedroom with ensuite, a covered patio overlooking the fenced back yard, and a comfortable Florida room - perfect for reading and relaxing. The seller maintains a pest contract with Cook's Pest Control. The security system will remain with the home.

ⓘ 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: $1,478 · $123/mo
• Projected year-2 tax: $2,215 · $185/mo
• Expected delta: +$737/yr (+$61/mo · 49.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 21 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: $60,000
• − Mortgage interest: −$17,477
• − Property taxes: −$1,478
• − Insurance: −$1,560
• − Repairs & maintenance: −$4,800
• − Management: −$4,800
• − Depreciation: −$9,076
• Taxable income: $20,809
• Est. tax owed @ 24.0%: −$4,994
• After-tax cash flow: $19,734/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

-8.2% since first listed

12 events — show timeline

• 2026-03-20 Listed $312,000 REALTRACS as Distributed by MLS Grid
• 2026-03-19 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2026-02-14 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2026-02-04 Price Changed $311,400 REALTRACS as Distributed by MLS Grid
• 2025-12-04 Relisted — REALTRACS as Distributed by MLS Grid
• 2025-11-21 Contingent — REALTRACS as Distributed by MLS Grid
• 2025-11-12 Price Changed $311,900 REALTRACS as Distributed by MLS Grid
• 2025-10-17 Price Changed $314,900 REALTRACS as Distributed by MLS Grid
• 2025-09-24 Price Changed $319,900 REALTRACS as Distributed by MLS Grid
• 2025-09-10 Price Changed $324,900 REALTRACS as Distributed by MLS Grid
• 2025-09-02 Price Changed $329,900 REALTRACS as Distributed by MLS Grid
• 2025-08-19 Listed $339,900 REALTRACS as Distributed by MLS Grid

Property tax history

+2.4%/yr

Latest (2025): $1,478 · +7.9% YoY. Source: county tax records.