145 1st Avenue Ave N · Baxter, TN 38544

$120,000

3 bd · 2.0 ba · 960 sqft · SingleFamily public records · 369 Days on market

Built 1948 0.41 ac lot $125/sqft · 48% below area Est $232k · 48% 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 +15.7/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +4.8/10.0
• 1% rule +3.3/10.0
• Livability +3.3/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Investor special! This 3-bedroom, 1-bath home offers great potential with solid bones and a spacious layout. Featuring a large kitchen perfect for updates or redesign, the property also includes a detached 2-car garage, ideal for added storage or workshop space. With a little TLC, this could be a fantastic rental, flip, or starter home. Don't miss out on this great investment opportunity!

Key facts

• Large kitchen
• 0.41 acre lot
• Garage

Tags

• LARGE KITCHEN
• DETACHED 2-CAR GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $-15 ($-175/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (2.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $99k (17.5% below list).
• Recommended offer: $99k (17.5% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 1.8% in Baxter — 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 66/100 on livability (#131 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, employment D, schools F.
• Putnam County (town): math 32% / reading 31% proficiency, ranked #49 of 139 in TN (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 200 active listings in the ZIP; 700 units permitted in Putnam County in 2024 (48 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($830 loan paydown + $12k appreciation (10.0% local appreciation)).
• Putnam County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 369 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $120k implies a 118% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $99,043 (17.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 369 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.83% ✗
• Cap rate: 6.81%
• Cash-on-cash: 1.85%
• DSCR: 1.08
• GRM: 10.1

CMA / ARV

• ARV (median comp): $231,525
• List price: $120,000
• Delta: -48.17%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
398 Elmore Town Rd	0.45mi	3/1.0	1,000 (+4%)	6mo	$77,000	$77	63
412 3rd Ave N	0.24mi	2/2.0 (-1)	1,097 (+14%)	18mo	$200,000	$182	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.9%
• Equity multiple: 2.92×
• Total profit: $64,421
• Equity at exit: $108,106

10-year hold

• IRR: 21.2%
• Equity multiple: 6.67×
• Total profit: $190,430
• Equity at exit: $233,134

Cash invested: $33,600 (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 38544

• Home prices YoY: 5.0%
• Active inventory: 200
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $990 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$51 /mo · $615/yr
• Insurance: −$50
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $-15

Break-even live

Break-even rent $1,009

Max offer price $117,422

Occupancy floor 96%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-19
   days on market $120,000 Active 369 DOM
2. 2026-06-18
   days on market $120,000 Active 368 DOM
3. 2026-06-17
   days on market $120,000 Active 367 DOM
4. 2026-06-16
   days on market $120,000 Active 366 DOM
5. 2026-06-15
   days on market $120,000 Active 365 DOM
6. 2026-06-14
   days on market $120,000 Active 363 DOM
7. 2026-06-13
   days on market $120,000 Active 362 DOM
8. 2026-06-10
   days on market $120,000 Active 360 DOM
9. 2026-06-09
   days on market $120,000 Active 359 DOM
10. 2026-06-08
    days on market $120,000 Active 358 DOM
11. 2026-06-07
    days on market $120,000 Active 357 DOM
12. 2026-06-05
    days on market $120,000 Active 354 DOM
13. 2026-06-02
    days on market $120,000 Active 352 DOM
14. 2026-06-01
    days on market $120,000 Active 351 DOM
15. 2026-05-31
    days on market $120,000 Active 350 DOM
16. 2026-05-30
    days on market $120,000 Active 349 DOM
17. 2026-05-11
    status Active 391-char remark

    Show marketing remark (391 chars)

    Investor special! This 3-bedroom, 1-bath home offers great potential with solid bones and a spacious layout. Featuring a large kitchen perfect for updates or redesign, the property also includes a detached 2-car garage, ideal for added storage or workshop space. With a little TLC, this could be a fantastic rental, flip, or starter home. Don't miss out on this great investment opportunity!

18. 2026-05-04
    historical Active Under Contract 391-char remark

    Show marketing remark (391 chars)

    Investor special! This 3-bedroom, 1-bath home offers great potential with solid bones and a spacious layout. Featuring a large kitchen perfect for updates or redesign, the property also includes a detached 2-car garage, ideal for added storage or workshop space. With a little TLC, this could be a fantastic rental, flip, or starter home. Don't miss out on this great investment opportunity!

19. 2026-04-21
    price $120,000 391-char remark

    Show marketing remark (391 chars)

    Investor special! This 3-bedroom, 1-bath home offers great potential with solid bones and a spacious layout. Featuring a large kitchen perfect for updates or redesign, the property also includes a detached 2-car garage, ideal for added storage or workshop space. With a little TLC, this could be a fantastic rental, flip, or starter home. Don't miss out on this great investment opportunity!

20. 2025-12-17
    status Active 391-char remark

    Show marketing remark (391 chars)

    Investor special! This 3-bedroom, 1-bath home offers great potential with solid bones and a spacious layout. Featuring a large kitchen perfect for updates or redesign, the property also includes a detached 2-car garage, ideal for added storage or workshop space. With a little TLC, this could be a fantastic rental, flip, or starter home. Don't miss out on this great investment opportunity!

21. 2025-12-06
    historical 391-char remark

    Show marketing remark (391 chars)

    Investor special! This 3-bedroom, 1-bath home offers great potential with solid bones and a spacious layout. Featuring a large kitchen perfect for updates or redesign, the property also includes a detached 2-car garage, ideal for added storage or workshop space. With a little TLC, this could be a fantastic rental, flip, or starter home. Don't miss out on this great investment opportunity!

22. 2025-06-27
    status Active 391-char remark

    Show marketing remark (391 chars)

    Investor special! This 3-bedroom, 1-bath home offers great potential with solid bones and a spacious layout. Featuring a large kitchen perfect for updates or redesign, the property also includes a detached 2-car garage, ideal for added storage or workshop space. With a little TLC, this could be a fantastic rental, flip, or starter home. Don't miss out on this great investment opportunity!

23. 2025-06-16
    historical Active Under Contract 391-char remark

    Show marketing remark (391 chars)

    Investor special! This 3-bedroom, 1-bath home offers great potential with solid bones and a spacious layout. Featuring a large kitchen perfect for updates or redesign, the property also includes a detached 2-car garage, ideal for added storage or workshop space. With a little TLC, this could be a fantastic rental, flip, or starter home. Don't miss out on this great investment opportunity!

24. 2025-06-05
    listed $130,000 Active 391-char remark

    Show marketing remark (391 chars)

    Investor special! This 3-bedroom, 1-bath home offers great potential with solid bones and a spacious layout. Featuring a large kitchen perfect for updates or redesign, the property also includes a detached 2-car garage, ideal for added storage or workshop space. With a little TLC, this could be a fantastic rental, flip, or starter home. Don't miss out on this great investment opportunity!

25. 2015-08-11
    soldstatus $55,000 157-char remark

    Show marketing remark (157 chars)

    Invest. 2 homes for 1 price. 2 detached garages 24 X 36, 12 X 12 and 93 X 190, 100 X 190. 145 1st Avenue was built in 1948, 110 Medley Dr. was built in 1950.

26. 2015-08-11
    soldstatus $55,000

    Show marketing remark (157 chars)

    Invest. 2 homes for 1 price. 2 detached garages 24 X 36, 12 X 12 and 93 X 190, 100 X 190. 145 1st Avenue was built in 1948, 110 Medley Dr. was built in 1950.

27. 2015-07-13
    listed $69,900 157-char remark

    Show marketing remark (157 chars)

    Invest. 2 homes for 1 price. 2 detached garages 24 X 36, 12 X 12 and 93 X 190, 100 X 190. 145 1st Avenue was built in 1948, 110 Medley Dr. was built in 1950.

28. 2003-09-29
    soldstatus $40,000
29. 2000-06-07
    soldstatus $25,000
30. 1992-12-15
    soldstatus $35,000

ⓘ 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: $615 · $51/mo
• Projected year-2 tax: $852 · $71/mo
• Expected delta: +$237/yr (+$20/mo · 38.5%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,885
• − Mortgage interest: −$6,722
• − Property taxes: −$615
• − Insurance: −$1,398
• − Repairs & maintenance: −$951
• − Management: −$951
• − Depreciation: −$3,491
• Taxable loss: −$2,242
• Est. tax savings @ 24.0%: +$538
• After-tax cash flow: $363/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: Putnam County
• NCES district ID: 4703480
• Math proficiency: 32% ▼ -6.00%
• Reading proficiency: 31% ▼ -5.00%
• Median HH income: $35,738
• Composite: 26.09/100
• National rank: #7291
• State rank: #49 of 139 in TN

Livability — Baxter

• Score: 66/100
• State rank: #131
• US rank: #12008

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Baxter, TN
• Population (ZIP): 7,413

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 80,122 people
• By 2030: 82,798 · +3.3%
• By 2040: 87,913 · +9.7%
• By 2050: 92,659 · +15.6%
• By 2075: 104,965 · +31.0%
• By 2100: 113,256 · +41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 8% Two or more races 3%
• Common ancestry: Iranian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Canada, South Korea, Jamaica
• Languages at home: 93% English-only · Spanish 7%

Political lean MEDSL · Putnam

• 2024 margin: Solid R (+47.4) · D 25.7% · R 73.1% · Other 1.1%
• 2008→2024 swing: -20.5pp toward R · 2008: -26.9pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+43.4 2016: R+45.0 2012: R+37.1 2008: R+26.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.12%
• Current HPI: 320.6255
• 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

+242.9% since first listed

14 events — show timeline

• 2026-05-11 Relisted — UCMLS
• 2026-05-04 Contingent — UCMLS
• 2026-04-21 Price Changed $120,000 UCMLS
• 2025-12-17 Relisted — UCMLS
• 2025-12-06 Delisted — UCMLS
• 2025-06-27 Relisted — UCMLS
• 2025-06-16 Contingent — UCMLS
• 2025-06-05 Listed $130,000 UCMLS
• 2015-08-11 Sold (Public Records) $55,000 Public Records
• 2015-08-11 Sold (MLS) $55,000 UCMLS
• 2015-07-13 Listed $69,900 UCMLS
• 2003-09-29 Sold (Public Records) $40,000 Public Records
• 2000-06-07 Sold (Public Records) $25,000 Public Records
• 1992-12-15 Sold (Public Records) $35,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $615 · +0.0% YoY. Source: county tax records.