2461 Old Greenbrier Pike · Greenbrier, TN 37073

$230,000

2 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 49 Days on market

Built 1900 0.38 ac lot $218/sqft · 30% below area Est $327k · 30% under

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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 +19.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +4.2/10.0
• 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 MLS

Great starter home or investment property. New flooring in kitchen with updated cabinets. Fresh paint throughout and new carpet in guest bedroom. Detached garage and a big back yard. Sunroom and large utility room with a newer water heater. Room to expand on the 2nd floor. The commercial property next door is included with this listing. (2463 Old Greenbrier Pike) Cash or conventional loan only. Seller to make no repairs.

Key facts

• Fenced yard
• Privacy fence
• New roof

Tags

• PERMANENT CHRISTMAS LIGHTING
• PRIVACY FENCE
• FENCED YARD
• NEW ROOF

Property features AI

Exterior

• Parking: Detached 1-car garage; 1 covered parking space (1 total parking space)
• Utilities: Public water; Public sewer; Water available
• Home design: Single family residence; One story
• Construction: Shingle roof; Other construction materials; Year built: existing (no specific year provided)
• Exterior features: Back yard fencing; Storage structure on property; Lot dimensions approximately 80 x 207

Interior

• Kitchen: Eat-in kitchen (approx. 20 x 13); No built-in appliances listed
• Bedrooms: 2 bedrooms (both on the main level); Primary bedroom approx. 15 x 10
• Flooring: Carpet; Concrete; Wood; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Wall furnace; Wall/window air conditioning units
• Interior features: Two fireplaces; Crawl space basement; Eat-in kitchen
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/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 $212k (7.8% below list).
• Recommended offer: $212k (7.8% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 3.4% in Greenbrier — 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 (#187 in TN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Robertson County (rural): math 22% / reading 26% proficiency, ranked #82 of 139 in TN (top 59%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Greenbrier Elementary (math 41% / reading 36%, grade F, #260 of 952 statewide, top 28%, 624 students, 0% FRL); Greenbrier High School (math 15% / reading 22%, grade F, #208 of 332 statewide, top 63%, 812 students, 0% FRL) — zoned schools average 0% FRL vs 42% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 122 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 983 units permitted in Robertson County in 2024 (0 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 $7k of value loss. Plan a longer hold.
• Robertson County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 5y 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 $155k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $212,073 (7.8% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.92% ✗
• Cap rate: 7.73%
• Cash-on-cash: 5.12%
• DSCR: 1.23
• GRM: 9.0

CMA / ARV

• ARV (median comp): $326,819
• List price: $230,000
• Delta: -29.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2519 Old Greenbrier Pike	0.18mi	2/1.0	1,044 (-1%)	12mo	$261,000	$250	80
208 W South St	0.26mi	2/1.0	1,008 (-4%)	1mo	$235,000	$233	80
609 Draughon Dr	0.41mi	2/1.0	1,000 (-5%)	11mo	$265,000	$265	63
1212 Maple St	0.35mi	3/1.0 (+1)	1,000 (-5%)	12mo	$255,000	$255	59
2241 Nunley St	0.45mi	3/1.5 (+1)	1,050 (-1%)	15mo	$268,000	$255	58
2342 Old Greenbrier Pike	0.53mi	3/2.0 (+1)	1,104 (+4%)	1mo	$280,000	$254	58
4610 Church St	0.65mi	3/2.0 (+1)	1,120 (+6%)	7mo	$299,900	$268	45
619 Wilson St	0.67mi	3/2.0 (+1)	1,120 (+6%)	7mo	$297,000	$265	44
2018 Elm Hill Ct	0.72mi	3/1.0 (+1)	1,075 (+2%)	20mo	$272,000	$253	42
1022 West College	0.73mi	3/2.0 (+1)	1,120 (+6%)	8mo	$319,900	$286	40
312 Dreamland Dr	0.43mi	3/2.0 (+1)	1,200 (+14%)	15mo	$325,000	$271	36
803 Draughon Dr	0.56mi	3/2.0 (+1)	1,204 (+14%)	17mo	$298,000	$248	28

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: -8.4%
• Equity multiple: 0.69×
• Total profit: $-19,840
• Equity at exit: $34,294

10-year hold

• IRR: 1.1%
• Equity multiple: 1.08×
• Total profit: $4,934
• 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 37073

• Home prices YoY: -24.7%
• Active inventory: 122
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,121 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$98 /mo · $1,181/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $275

Break-even live

Break-even rent $1,773

Max offer price $230,000

Occupancy floor 82%

Sensitivity live

Price	-10% $405	-5% $340	+0% $275	+5% $210	+10% $145
Rent	-10% $107	-5% $191	+0% $275	+5% $359	+10% $443
Rate	-1.0pp $391	-0.5pp $333	base $275	+0.5pp $215	+1.0pp $155

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: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1022 W College St Unit 2 Greenbrier, TN	3.0	2.0	1120	$2,400	$2.14	5d	1	0.43mi
2126 Nunley St Greenbrier, TN	3.0	2.0	1462	$1,600	$1.09	8d	1	0.56mi
2017 Smith Cir Greenbrier, TN	3.0	2.0	1442	$2,200	$1.53	8d	1	0.98mi

Listing history 36 events

1. 2026-06-18
   days on market $230,000 Active 49 DOM
2. 2026-06-17
   days on market $230,000 Active 48 DOM
3. 2026-06-16
   days on market $230,000 Active 47 DOM
4. 2026-06-15
   days on market $230,000 Active 46 DOM
5. 2026-06-13
   days on market $230,000 Active 44 DOM
6. 2026-06-13
   days on market $230,000 Active 43 DOM
7. 2026-06-09
   days on market $230,000 Active 40 DOM
8. 2026-06-08
   days on market $230,000 Active 39 DOM
9. 2026-06-07
   pricedays on market $230,000 Active 38 DOM
10. 2026-06-03
    days on market $235,900 Active 34 DOM
11. 2026-06-02
    days on market $235,900 Active 33 DOM
12. 2026-06-01
    days on market $235,900 Active 32 DOM
13. 2026-05-31
    days on market $235,900 Active 31 DOM
14. 2026-04-30
    listed $235,900 Active 536-char remark
15. 2026-04-21
    historical
16. 2026-04-07
    price $245,000
17. 2026-03-16
    price $249,900
18. 2026-02-19
    price $257,400
19. 2026-02-04
    listed $259,900 Active
20. 2023-03-28
    soldstatus $155,000
21. 2023-03-27
    soldstatus $155,000 Closed

    Show marketing remark (424 chars)

    Great starter home or investment property. New flooring in kitchen with updated cabinets. Fresh paint throughout and new carpet in guest bedroom. Detached garage and a big back yard. Sunroom and large utility room with a newer water heater. Room to expand on the 2nd floor. The commercial property next door is included with this listing. (2463 Old Greenbrier Pike) Cash or conventional loan only. Seller to make no repairs.

22. 2022-09-07
    historical Active Under Contract

    Show marketing remark (424 chars)

    Great starter home or investment property. New flooring in kitchen with updated cabinets. Fresh paint throughout and new carpet in guest bedroom. Detached garage and a big back yard. Sunroom and large utility room with a newer water heater. Room to expand on the 2nd floor. The commercial property next door is included with this listing. (2463 Old Greenbrier Pike) Cash or conventional loan only. Seller to make no repairs.

23. 2022-09-01
    historical

    Show marketing remark (424 chars)

    Great starter home or investment property. New flooring in kitchen with updated cabinets. Fresh paint throughout and new carpet in guest bedroom. Detached garage and a big back yard. Sunroom and large utility room with a newer water heater. Room to expand on the 2nd floor. The commercial property next door is included with this listing. (2463 Old Greenbrier Pike) Cash or conventional loan only. Seller to make no repairs.

24. 2022-09-01
    listed $189,900 Active

    Show marketing remark (424 chars)

    Great starter home or investment property. New flooring in kitchen with updated cabinets. Fresh paint throughout and new carpet in guest bedroom. Detached garage and a big back yard. Sunroom and large utility room with a newer water heater. Room to expand on the 2nd floor. The commercial property next door is included with this listing. (2463 Old Greenbrier Pike) Cash or conventional loan only. Seller to make no repairs.

25. 2022-08-12
    status Active
26. 2022-07-12
    historical Active Under Contract
27. 2022-06-15
    status Active
28. 2022-06-09
    historical Active Under Contract
29. 2022-05-25
    status Active
30. 2022-05-18
    historical Active Under Contract
31. 2022-05-12
    listed $189,900 Active
32. 2022-02-01
    historical
33. 2021-10-23
    price $199,999
34. 2021-10-04
    price $215,900
35. 2021-09-13
    price $219,900
36. 2021-07-20
    listed $224,900 Active

ⓘ 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: $1,181 · $98/mo
• Projected year-2 tax: $1,633 · $136/mo
• Expected delta: +$452/yr (+$38/mo · 38.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,449
• − Mortgage interest: −$12,884
• − Property taxes: −$1,181
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,036
• − Management: −$2,036
• − Depreciation: −$6,691
• Taxable loss: −$528
• Est. tax savings @ 24.0%: +$127
• After-tax cash flow: $3,427/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: Robertson County
• NCES district ID: 4703600
• Math proficiency: 22% ▼ -11.00%
• Reading proficiency: 26% ▼ -5.00%
• Median HH income: $53,503
• Composite: 21.55/100
• National rank: #8313
• State rank: #82 of 139 in TN

Livability — Greenbrier

• Score: 63/100
• State rank: #187
• US rank: #15098

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenbrier, TN
• City population: 14,312
• Population (ZIP): 14,312

Population outlook (Robertson County) Hauer SSP2

• Today (2025): 72,786 people
• By 2030: 74,478 · +2.3%
• By 2040: 76,948 · +5.7%
• By 2050: 77,618 · +6.6%
• By 2075: 77,545 · +6.5%
• By 2100: 72,836 · +0.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Slovak 3% Italian 2% Scotch-Irish 2%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 97% English-only · Spanish 2% Korean 1%

Political lean MEDSL · Robertson

• 2024 margin: Solid R (+50.9) · D 24.0% · R 74.9% · Other 1.1%
• 2008→2024 swing: -19.8pp toward R · 2008: -31.1pp · 2024: -50.9pp
• All cycles: 2024: R+50.9 2020: R+47.0 2016: R+47.2 2012: R+35.6 2008: R+31.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.44%
• Current HPI: 293.5595
• 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

+2.3% since first listed

24 events — show timeline

• 2026-06-06 Price Changed $230,000 REALTRACS as Distributed by MLS Grid
• 2026-04-30 Listed $235,900 REALTRACS as Distributed by MLS Grid
• 2026-04-21 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2026-04-07 Price Changed $245,000 REALTRACS as Distributed by MLS Grid
• 2026-03-16 Price Changed $249,900 REALTRACS as Distributed by MLS Grid
• 2026-02-19 Price Changed $257,400 REALTRACS as Distributed by MLS Grid
• 2026-02-04 Listed $259,900 REALTRACS as Distributed by MLS Grid
• 2023-03-28 Sold (Public Records) $155,000 Public Records
• 2023-03-27 Sold (MLS) $155,000 REALTRACS as Distributed by MLS Grid
• 2022-09-07 Contingent — REALTRACS as Distributed by MLS Grid
• 2022-09-01 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2022-09-01 Listed $189,900 REALTRACS as Distributed by MLS Grid
• 2022-08-12 Relisted — REALTRACS as Distributed by MLS Grid
• 2022-07-12 Contingent — REALTRACS as Distributed by MLS Grid
• 2022-06-15 Relisted — REALTRACS as Distributed by MLS Grid
• 2022-06-09 Contingent — REALTRACS as Distributed by MLS Grid
• 2022-05-25 Relisted — REALTRACS as Distributed by MLS Grid
• 2022-05-18 Contingent — REALTRACS as Distributed by MLS Grid
• 2022-05-12 Listed $189,900 REALTRACS as Distributed by MLS Grid
• 2022-02-01 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2021-10-23 Price Changed $199,999 REALTRACS as Distributed by MLS Grid
• 2021-10-04 Price Changed $215,900 REALTRACS as Distributed by MLS Grid
• 2021-09-13 Price Changed $219,900 REALTRACS as Distributed by MLS Grid
• 2021-07-20 Listed $224,900 REALTRACS as Distributed by MLS Grid

Property tax history

+6.5%/yr

Latest (2025): $1,181 · +0.0% YoY. Source: county tax records.