203 Edgewood Ave · Mount Pleasant, TN 38474

$144,900

3 bd · 2.0 ba · 1,260 sqft · SingleFamily public records · 26 Days on market

Built 1940 8,537 sqft lot $115/sqft · 21% below area Est $223k · 35% 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 +25.6/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +5.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

New on market. Renovated home in Mt Pleasant. Lots of square feet for the price. Almost everything new.

Key facts

• 8,537 sq ft lot
• Built 1940
• Listed 25 days

Property features AI

Finance

• Financial info: Annual tax amount listed (not included in feature list per instructions)

Exterior

• Parking: No covered spaces; No designated parking spaces listed
• Security: No security features listed
• Utilities: Public water; Public sewer; Water available
• Home design: Single-family residence; One story; Existing/established home
• Construction: Constructed with other/unspecified materials; Assessor-reported living area ~1532 sq ft
• Exterior features: Lot approximately 0.196 acres; Lot dimensions about 54 x 158 (irregular)

Interior

• Kitchen: No appliances listed
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Other
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No basement; Other flooring
• Laundry & utility: No laundry/utility appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $341 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $143k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 2.2% in Mount Pleasant — 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 (#196 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, schools F, amenities F.
• Maury County (town): math 19% / reading 21% proficiency, ranked #108 of 139 in TN (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 144 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,650 units permitted in Maury County in 2024 (60 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Maury County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $120k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $142,726 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — 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: 1.05% ✓
• Cap rate: 9.12%
• Cash-on-cash: 10.09%
• DSCR: 1.45
• GRM: 7.9

CMA / ARV

• ARV (median comp): $222,567
• List price: $144,900
• Delta: -34.90%
• 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
412 Wall St	0.27mi	3/2.0	1,287 (+2%)	2mo	$264,900	$206	82
702 1st Ave	0.20mi	3/2.5	1,400 (+11%)	6mo	$189,900	$136	66
309 Washington Ave	0.37mi	3/2.0	1,165 (-8%)	8mo	$250,000	$215	64
203 Summer St	0.32mi	3/2.0	1,130 (-10%)	11mo	$204,000	$181	59
514 Florida Ave	0.21mi	2/1.0 (-1)	1,395 (+11%)	12mo	$240,000	$172	54
303 Lawrence St	0.09mi	2/1.0 (-1)	1,440 (+14%)	14mo	$210,000	$146	52
205 S Cherry St	0.37mi	3/1.0	1,101 (-13%)	11mo	$240,000	$218	49
110 Howard St	0.72mi	3/1.0	1,342 (+6%)	8mo	$252,500	$188	45
111 3rd Ave	0.66mi	2/1.0 (-1)	1,195 (-5%)	9mo	$239,900	$201	44
7602 Dugger St	0.63mi	2/1.5 (-1)	1,152 (-9%)	10mo	$215,000	$187	41
420 S Main St E	0.74mi	3/3.0	1,080 (-14%)	5mo	$222,500	$206	34
1205 Shackelford Dr	0.75mi	3/1.0	1,075 (-15%)	12mo	$249,900	$232	27

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: -1.2%
• Equity multiple: 0.96×
• Total profit: $-1,823
• Equity at exit: $21,605

10-year hold

• IRR: 8.5%
• Equity multiple: 1.64×
• Total profit: $26,126
• Equity at exit: $12,528

Cash invested: $40,572 (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 38474

• Home prices YoY: -5.5%
• Active inventory: 144
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,524 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$43 /mo · $511/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $341

Break-even live

Break-even rent $1,092

Max offer price $144,900

Occupancy floor 73%

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 W Cooper St Mount Pleasant, TN	3.0	2.0	1509	$1,850	$1.23	1d	1	0.54mi
711 N Main St Mount Pleasant, TN	2.0	1.0	1100	$1,290	$1.17	21d	1	0.85mi
445 Southport Rd Mount Pleasant, TN	3.0	1.0	1000	$1,175	$1.18	14d	1	1.06mi

Listing history 15 events

1. 2026-05-18
   price $144,900 309-char remark
2. 2026-05-08
   price $155,000 309-char remark
3. 2026-05-01
   listed $165,000 Active 309-char remark
4. 2024-11-27
   historical
5. 2024-11-19
   historical Active Under Contract
6. 2024-10-23
   price $209,999
7. 2024-10-05
   price $214,999
8. 2024-08-28
   listed $219,000 Active
9. 2024-07-18
   historical
10. 2018-10-29
    soldstatus $119,600
11. 2018-10-29
    soldstatus $119,600
12. 2018-10-16
    soldstatus $119,500 Closed

    Show marketing remark (106 chars)

    New on market. Renovated home in Mt Pleasant. Lots of square feet for the price. Almost everything new.

13. 2018-09-19
    historical Contingent - Financing

    Show marketing remark (106 chars)

    New on market. Renovated home in Mt Pleasant. Lots of square feet for the price. Almost everything new.

14. 2018-08-17
    price $119,500

    Show marketing remark (106 chars)

    New on market. Renovated home in Mt Pleasant. Lots of square feet for the price. Almost everything new.

15. 2018-07-26
    listed $129,900 Active

    Show marketing remark (106 chars)

    New on market. Renovated home in Mt Pleasant. Lots of square feet for the price. Almost everything new.

ⓘ 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: $511 · $43/mo
• Projected year-2 tax: $1,029 · $86/mo
• Expected delta: +$518/yr (+$43/mo · 101.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% 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: $18,286
• − Mortgage interest: −$8,117
• − Property taxes: −$511
• − Insurance: −$724
• − Repairs & maintenance: −$1,463
• − Management: −$1,463
• − Depreciation: −$4,215
• Taxable income: $1,793
• Est. tax owed @ 24.0%: −$430
• After-tax cash flow: $3,662/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: Maury County
• NCES district ID: 4702760
• Math proficiency: 19% ▼ -5.00%
• Reading proficiency: 21% ▼ -4.00%
• Median HH income: $47,668
• Composite: 17.69/100
• National rank: #9024
• State rank: #108 of 139 in TN

Livability — Mount Pleasant

• Score: 63/100
• State rank: #196
• US rank: #15433

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Pleasant, TN
• Population (ZIP): 9,336

Population outlook (Maury County) Hauer SSP2

• Today (2025): 102,894 people
• By 2030: 110,269 · +7.2%
• By 2040: 124,426 · +20.9%
• By 2050: 137,543 · +33.7%
• By 2075: 167,438 · +62.7%
• By 2100: 184,489 · +79.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 15% Two or more races 6%
• Common ancestry: Italian 2% Lithuanian 1% Serbian 1%
• Foreign-born: 0% · Canada

Political lean MEDSL · Maury

• 2024 margin: Solid R (+44.6) · D 27.1% · R 71.8% · Other 1.1%
• 2008→2024 swing: -6.2pp toward R · 2008: -38.4pp · 2024: -44.6pp
• All cycles: 2024: R+44.6 2020: R+36.5 2016: R+39.2 2012: R+26.9 2008: R+38.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -22.21%
• Current HPI: 383.7754
• 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

+11.5% since first listed

16 events — show timeline

• 2026-05-28 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2026-05-18 Price Changed $144,900 REALTRACS as Distributed by MLS Grid
• 2026-05-08 Price Changed $155,000 REALTRACS as Distributed by MLS Grid
• 2026-05-01 Listed $165,000 REALTRACS as Distributed by MLS Grid
• 2024-11-27 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2024-11-19 Contingent — REALTRACS as Distributed by MLS Grid
• 2024-10-23 Price Changed $209,999 REALTRACS as Distributed by MLS Grid
• 2024-10-05 Price Changed $214,999 REALTRACS as Distributed by MLS Grid
• 2024-08-28 Listed $219,000 REALTRACS as Distributed by MLS Grid
• 2024-07-18 Coming Soon — REALTRACS as Distributed by MLS Grid
• 2018-10-29 Sold (Public Records) $119,600 Public Records
• 2018-10-29 Sold (Public Records) $119,600 Public Records
• 2018-10-16 Sold (MLS) $119,500 REALTRACS as Distributed by MLS Grid
• 2018-09-19 Contingent — REALTRACS as Distributed by MLS Grid
• 2018-08-17 Price Changed $119,500 REALTRACS as Distributed by MLS Grid
• 2018-07-26 Listed $129,900 REALTRACS as Distributed by MLS Grid

Property tax history

+0.2%/yr

Latest (2025): $511 · -46.9% YoY. Source: county tax records.