416 S 2nd St · Clarksville, TN 37040

$230,000

16 bd · 4.0 ba · 1,412 sqft · Other public records · 174 Days on market

Built 1930

---

Why this score? — see what drove the D 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 +16.0/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• Livability +4.2/5.0
• 1% rule +3.4/10.0
• Rent growth +2.8/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This partially remodeled 4-plex has ample room for an investor to complete rehab, and have a solid ROI. Sold As- Is. New windows installed in 2024, and new siding installed 12/2025. Located in the Dog Hill neighborhood, this investment is in an "Opportunity Zone", eligible for HUGE tax benefits! (link in MLS) It is NOT in the Historic district, so remodel plans won't need to go through Planning Commission. Units #1 and #2 are month to month, unit #4 lease renews in Feb/2026, and unit #3 is vacant for showings. (Unit #4 - 85% remodeled) (Unit #3 - 50% remodeled) (Units #1 & #2 need full remodel). There are 4 electric meters on house, yet one HVAC/Thermostat in Unit#3. Options

Key facts

• New siding installed
• 4 electric meters
• One hvac

Tags

• NEW WINDOWS INSTALLED
• NEW SIDING INSTALLED
• 4 ELECTRIC METERS
• ONE HVAC
• 2 MINUTE WALK TO DOWNTOWN

Property features AI

Finance

• Other: Zoned R-4
• Financial info: Gross income reported at $27,470; Net operating income reported at $19,528; Owner pays electricity, trash collection, and water; Tenant pays: none

Exterior

• Parking: Driveway and on-street parking
• Utilities: Public water; Public sewer; Water available
• Home design: Quadruplex; Two levels; Attached property; Agent-measured living area of 2,215 and total building area of 2,215
• Construction: Vinyl siding; Asphalt roof; Existing structure
• Exterior features: Driveway; On-street parking

Interior

• Bedrooms: Four 1-bedroom units
• Flooring: Laminate; Vinyl
• Bathrooms: Four 1-bath units
• Heating & cooling: Central heating; Central air
• Interior features: Laminate and vinyl flooring; Central heating; Central air
• Laundry & utility: Individual laundry hookups with washer hookup and electric dryer hookup

What this means for you Summary

Snapshot

• This is a 16-bed/4.0-bath other listed at $230k.

Deal economics

• At list price, monthly cash flow is $114 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (16.3% below list).
• Recommended offer: $193k (16.3% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 3.5% in Clarksville — 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 84/100 on livability (#1 in TN, #798 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment C-, crime D+.
• Montgomery County (urban): math 25% / reading 31% proficiency, ranked #65 of 139 in TN (top 47%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Norman Smith Elementary (math 14% / reading 23%, grade F, #691 of 952 statewide, top 73%, 566 students, 0% FRL); Rossview Middle (math 31% / reading 32%, grade F, #89 of 333 statewide, top 28%, 1,022 students, 0% FRL); Rossview High (math 10% / reading 51%, grade F, #75 of 332 statewide, top 24%, 2,030 students, 0% FRL) — zoned schools average 0% FRL vs 40% district-wide (40 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.3%/yr); 608 active listings in the ZIP; 2,583 units permitted in Montgomery County in 2024 (617 in 5+ unit buildings).
• This rent runs 34% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Montgomery County population projected at +49% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 174 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $45k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $175k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $192,571 (16.3% below list)

Questions for the listing agent

1. It's been on market 174 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D 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. 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?
7. 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.
8. 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.
9. 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: 0.84% ✗
• Cap rate: 6.89%
• Cash-on-cash: 2.13%
• DSCR: 1.09
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.32% rent growth · sell at horizon

5-year hold

• IRR: -14.7%
• Equity multiple: 0.48×
• Total profit: $-33,278
• Equity at exit: $34,294

10-year hold

• IRR: -8.7%
• Equity multiple: 0.49×
• Total profit: $-32,647
• Equity at exit: $19,886

Cash invested: $64,400 (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 37040

• Home prices YoY: -22.0%
• Rents YoY: 1.3%
• Active inventory: 608
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,926 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$105 /mo · $1,261/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $114

Break-even live

Break-even rent $1,781

Max offer price $230,000

Occupancy floor 89%

Sensitivity live

Price	-10% $244	-5% $179	+0% $114	+5% $49	+10% $-16
Rent	-10% $-38	-5% $38	+0% $114	+5% $190	+10% $266
Rate	-1.0pp $230	-0.5pp $173	base $114	+0.5pp $55	+1.0pp $-6

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $230,000 Active 174 DOM
2. 2026-06-18
   price $230,000 Active 171 DOM
3. 2026-06-18
   days on market $235,000 Active 171 DOM
4. 2026-06-17
   days on market $235,000 Active 170 DOM
5. 2026-06-16
   days on market $235,000 Active 169 DOM
6. 2026-06-15
   days on market $235,000 Active 168 DOM
7. 2026-06-14
   days on market $235,000 Active 166 DOM
8. 2026-06-13
   days on market $235,000 Active 165 DOM
9. 2026-06-10
   days on market $235,000 Active 163 DOM
10. 2026-06-09
    pricedays on market $235,000 Active 162 DOM
11. 2026-06-08
    days on market $239,500 Active 161 DOM
12. 2026-06-07
    days on market $239,500 Active 160 DOM
13. 2026-06-05
    days on market $239,500 Active 157 DOM
14. 2026-06-03
    days on market $239,500 Active 156 DOM
15. 2026-06-02
    days on market $239,500 Active 155 DOM
16. 2026-05-31
    days on market $239,500 Active 153 DOM
17. 2026-05-30
    days on market $239,500 Active 152 DOM
18. 2026-05-23
    status Active
19. 2026-05-23
    price $239,500
20. 2026-05-19
    historical Active Under Contract
21. 2026-02-04
    price $250,000
22. 2025-12-29
    listed $275,000 Active
23. 2024-03-14
    historical
24. 2024-01-28
    listed
25. 2023-07-13
    historical
26. 2021-12-17
    soldstatus $175,000
27. 2016-05-27
    soldstatus $50,000

ⓘ 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: $1,261 · $105/mo
• Projected year-2 tax: $1,633 · $136/mo
• Expected delta: +$372/yr (+$31/mo · 29.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $23,109
• − Mortgage interest: −$12,884
• − Property taxes: −$1,261
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,849
• − Management: −$1,849
• − Depreciation: −$6,691
• Taxable loss: −$2,574
• Est. tax savings @ 24.0%: +$618
• After-tax cash flow: $1,989/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: Montgomery County
• NCES district ID: 4703030
• Math proficiency: 25% ▼ -20.00%
• Reading proficiency: 31% ▼ -10.00%
• Median HH income: $50,423
• Composite: 24.56/100
• National rank: #7641
• State rank: #65 of 139 in TN

Livability — Clarksville

• Score: 84/100
• State rank: #1
• US rank: #798

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clarksville, TN
• County: Montgomery County · 211,371 people
• City population: 211,371
• Metro: Clarksville, TN-KY
• Population (ZIP): 64,977
• Household income: $67,745
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 2670.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 236,633 people
• By 2030: 258,978 · +9.4%
• By 2040: 305,456 · +29.1%
• By 2050: 353,147 · +49.2%
• By 2075: 471,289 · +99.2%
• By 2100: 564,122 · +138.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 56% Black 25% Two or more races 11% Hispanic / Latino 10% Asian 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Italian 4% Lithuanian 1% Slovak 1%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 90% English-only · Spanish 5% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Montgomery

• 2024 margin: R (+18.4) · D 40.0% · R 58.5% · Other 1.5%
• 2008→2024 swing: -10.5pp toward R · 2008: -7.9pp · 2024: -18.4pp
• All cycles: 2024: R+18.4 2020: R+12.7 2016: R+18.6 2012: R+10.5 2008: R+7.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.79%
• Current HPI: 269.0601
• Rent YoY: ▲ 1.32%
• Metro: Clarksville, TN-KY
• 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

+379.0% since first listed

10 events — show timeline

• 2026-05-23 Relisted — REALTRACS as Distributed by MLS Grid
• 2026-05-23 Price Changed $239,500 REALTRACS as Distributed by MLS Grid
• 2026-05-19 Contingent — REALTRACS as Distributed by MLS Grid
• 2026-02-04 Price Changed $250,000 REALTRACS as Distributed by MLS Grid
• 2025-12-29 Listed $275,000 REALTRACS as Distributed by MLS Grid
• 2024-03-14 Rental Removed — APPFOLIO
• 2024-01-28 Listed for Rent — APPFOLIO
• 2023-07-13 Rental Removed — APPFOLIO
• 2021-12-17 Sold (Public Records) $175,000 Public Records
• 2016-05-27 Sold (Public Records) $50,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $1,261 · +1.4% YoY. Source: county tax records.