414 Illinois Ave · Etowah, TN 37331

$144,000

3 bd · 1.0 ba · 2,208 sqft · SingleFamily public records · 14 Days on market

Built 1915 0.52 ac lot ↓ 3% since listing

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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 +22.7/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +5.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming 1915 ranch-style home full of character and timeless appeal, located in Etowah at 414 Illinois Avenue! This inviting 4-bedroom, 1 full bathroom home features a bright and airy sunroom addition--perfect for relaxing, entertaining, or enjoying your morning coffee. The front of the home is accented with beautiful stained glass windows, adding a unique touch of historic charm and natural light. Outside, you'll find a spacious side yard offering plenty of room for gardening, outdoor activities, or future expansion. The backyard includes multiple storage sheds, providing ample space for tools, hobbies, or additional storage needs. A wonderful blend of classic details and functional livin

Key facts

• Sunroom addition
• Spacious side yard
• 0.52 acre lot

Tags

• SUNROOM ADDITION
• STAINED GLASS WINDOWS
• SPACIOUS SIDE YARD
• MULTIPLE STORAGE SHEDS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $144k.

Deal economics

• At list price, monthly cash flow is $248 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $144k).
• Cap rate 8.4% vs local median 3.0% in Etowah — 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 63/100 on livability (#195 in TN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: health & safety C-, schools F, amenities F.
• Etowah (town): math 33% / reading 21% proficiency, ranked #78 of 139 in TN (top 56%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 70 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 $996 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $144,000

Questions for the listing agent

1. Built in 1915 — 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. 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.
5. 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.
6. 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: 1.01% ✓
• Cap rate: 8.36%
• Cash-on-cash: 7.38%
• DSCR: 1.33
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.81×
• Total profit: $-7,575
• Equity at exit: $21,471

10-year hold

• IRR: 4.6%
• Equity multiple: 1.34×
• Total profit: $13,598
• Equity at exit: $12,450

Cash invested: $40,320 (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 37331

• Home prices YoY: -7.4%
• Active inventory: 70
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,455 medium
• Mortgage (P&I): −$755
• Tax from tax record: −$86 /mo · $1,033/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $248

Break-even live

Break-even rent $1,141

Max offer price $144,000

Occupancy floor 78%

Sensitivity live

Price	-10% $330	-5% $289	+0% $248	+5% $207	+10% $166
Rent	-10% $133	-5% $191	+0% $248	+5% $305	+10% $363
Rate	-1.0pp $321	-0.5pp $285	base $248	+0.5pp $211	+1.0pp $173

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: $36,000
• Closing costs: $4,320
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-27
   status Pending
2. 2026-04-13
   listed $144,000 Active
3. 2026-01-28
   listed $144,000
4. 2026-01-28
   historical
5. 2025-11-10
   price $144,000
6. 2025-10-30
   price $149,000

ⓘ 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: $1,033 · $86/mo
• Projected year-2 tax: $1,033 · $86/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥104°F today · 19 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: $17,457
• − Mortgage interest: −$8,066
• − Property taxes: −$1,033
• − Insurance: −$720
• − Repairs & maintenance: −$1,397
• − Management: −$1,397
• − Depreciation: −$4,189
• Taxable income: $655
• Est. tax owed @ 24.0%: −$157
• After-tax cash flow: $2,819/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: Etowah
• NCES district ID: 4701140
• Math proficiency: 33% ▼ -12.00%
• Reading proficiency: 21% ▼ -10.00%
• Median HH income: $36,027
• Composite: 22.44/100
• National rank: #8109
• State rank: #78 of 139 in TN

Livability — Etowah

• Score: 63/100
• State rank: #195
• US rank: #15410

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Etowah, TN
• City population: 7,653
• Population (ZIP): 7,653

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 (83%)
• Race & ethnicity: White 83% Two or more races 8% Black 6% Hispanic / Latino 4%
• Common ancestry: Lithuanian 2% Italian 2% Serbian 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2% Tagalog/Filipino 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: ▼ -27.76%
• Current HPI: 346.2746
• 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

-3.4% since first listed

6 events — show timeline

• 2026-04-27 Pending — Knoxville MLS
• 2026-04-13 Listed $144,000 Knoxville MLS
• 2026-01-28 Listed $144,000 REALTRACS as Distributed by MLS Grid
• 2026-01-28 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2025-11-10 Price Changed $144,000 GCAR
• 2025-10-30 Price Changed $149,000 GCAR

Property tax history

+5.6%/yr

Latest (2025): $1,033 · +0.0% YoY. Source: county tax records.