36 SR 399 · Palmer, TN 37365

$155,000

3 bd · 1.0 ba · 1,280 sqft · SingleFamily public records · 227 Days on market

Built 2002 0.54 ac lot $121/sqft · at area comps Est $159k · at est.

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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 +12.3/30.0
• ARV discount +8.8/15.0
• Appreciation +5.0/10.0
• DSCR +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.4/5.0
• 1% rule +2.2/10.0
• Schools +1.8/10.0

Listing remarks MLS

Charming single-family home situated on a spacious 0.54-acre lot. This 3-bedroom, 2-bath property offers approximately 1,300 square feet of comfortable living space with an open living and dining area, perfect for both relaxing and entertaining. Recent updates include a new back porch, new cabinets, and new main water lines installed to the property. This home combines modern improvements with a generous lot size, providing plenty of room to enjoy both indoors and outdoors. Move-in ready and conveniently located.

Key facts

• New main water lines
• Spacious lot
• New cabinets

Tags

• SPACIOUS LOT
• NEW BACK PORCH
• NEW CABINETS
• NEW MAIN WATER LINES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $-30 ($-355/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (3.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (28.3% below list).
• Recommended offer: $111k (28.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 47/100 on livability (#421 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Grundy County (rural): math 21% / reading 23% proficiency, ranked #110 of 139 in TN (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: North Elementary (math 32% / reading 22%, grade F, #496 of 952 statewide, top 55%, 338 students, 0% FRL); Grundy County High School (math 8% / reading 17%, grade F, #259 of 332 statewide, top 79%, 534 students, 0% FRL) — zoned schools average 0% FRL vs 72% district-wide (72 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 28 active listings in the ZIP; 16 units permitted in Grundy County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Grundy County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 227 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $110k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,111 (28.3% 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 227 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
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. 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?
6. Crime grade is F 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?
7. 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?
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: 0.72% ✗
• Cap rate: 6.06%
• Cash-on-cash: -0.82%
• DSCR: 0.96
• GRM: 11.6

CMA / ARV

• ARV (median comp): $159,467
• List price: $155,000
• Delta: -2.80%
• Verdict: FAIR
• Comps: 6 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
149 64th Ave	0.58mi	4/2.0 (+1)	1,294 (+1%)	16mo	$240,000	$185	49
108 65th Avenue Ave	0.37mi	3/2.0	1,456 (+14%)	12mo	$155,000	$106	46

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: 6.7%
• Equity multiple: 1.38×
• Total profit: $16,706
• Equity at exit: $69,695

10-year hold

• IRR: 9.5%
• Equity multiple: 2.43×
• Total profit: $62,018
• Equity at exit: $107,408

Cash invested: $43,400 (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 37365

• Active inventory: 28
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,111 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$30 /mo · $359/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $-30

Break-even live

Break-even rent $1,149

Max offer price $149,780

Occupancy floor 98%

Sensitivity live

Price	-10% $58	-5% $14	+0% $-30	+5% $-73	+10% $-117
Rent	-10% $-117	-5% $-73	+0% $-30	+5% $14	+10% $58
Rate	-1.0pp $49	-0.5pp $10	base $-30	+0.5pp $-70	+1.0pp $-111

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-22
   days on market $155,000 Active 227 DOM
2. 2026-06-21
   days on market $155,000 Active 226 DOM
3. 2026-06-19
   days on market $155,000 Active 224 DOM
4. 2026-06-18
   days on market $155,000 Active 223 DOM
5. 2026-06-17
   days on market $155,000 Active 222 DOM
6. 2026-06-16
   days on market $155,000 Active 221 DOM
7. 2026-06-15
   days on market $155,000 Active 220 DOM
8. 2026-06-14
   days on market $155,000 Active 218 DOM
9. 2026-06-12
   days on market $155,000 Active 217 DOM
10. 2026-06-09
    days on market $155,000 Active 214 DOM
11. 2026-06-08
    days on market $155,000 Active 213 DOM
12. 2026-06-07
    days on market $155,000 Active 212 DOM
13. 2026-06-02
    days on market $155,000 Active 207 DOM
14. 2026-06-01
    days on market $155,000 Active 206 DOM
15. 2026-05-31
    days on market $155,000 Active 205 DOM
16. 2026-05-30
    days on market $155,000 Active 204 DOM
17. 2026-04-29
    status Active 520-char remark

    Show marketing remark (520 chars)

    Charming single-family home situated on a spacious 0.54-acre lot. This 3-bedroom, 2-bath property offers approximately 1,300 square feet of comfortable living space with an open living and dining area, perfect for both relaxing and entertaining. Recent updates include a new back porch, new cabinets, and new main water lines installed to the property. This home combines modern improvements with a generous lot size, providing plenty of room to enjoy both indoors and outdoors. Move-in ready and conveniently located.

18. 2026-04-22
    historical 520-char remark

    Show marketing remark (520 chars)

    Charming single-family home situated on a spacious 0.54-acre lot. This 3-bedroom, 2-bath property offers approximately 1,300 square feet of comfortable living space with an open living and dining area, perfect for both relaxing and entertaining. Recent updates include a new back porch, new cabinets, and new main water lines installed to the property. This home combines modern improvements with a generous lot size, providing plenty of room to enjoy both indoors and outdoors. Move-in ready and conveniently located.

19. 2025-12-30
    price $160,000 520-char remark

    Show marketing remark (520 chars)

    Charming single-family home situated on a spacious 0.54-acre lot. This 3-bedroom, 2-bath property offers approximately 1,300 square feet of comfortable living space with an open living and dining area, perfect for both relaxing and entertaining. Recent updates include a new back porch, new cabinets, and new main water lines installed to the property. This home combines modern improvements with a generous lot size, providing plenty of room to enjoy both indoors and outdoors. Move-in ready and conveniently located.

20. 2025-10-31
    listed $170,000 Active 520-char remark

    Show marketing remark (520 chars)

    Charming single-family home situated on a spacious 0.54-acre lot. This 3-bedroom, 2-bath property offers approximately 1,300 square feet of comfortable living space with an open living and dining area, perfect for both relaxing and entertaining. Recent updates include a new back porch, new cabinets, and new main water lines installed to the property. This home combines modern improvements with a generous lot size, providing plenty of room to enjoy both indoors and outdoors. Move-in ready and conveniently located.

21. 2025-09-09
    soldstatus $110,000
22. 2024-11-07
    historical 308-char remark

    Show marketing remark (308 chars)

    Come check out this property with endless possibilities! Can be turned into a store, hair salon, or duplex. Located at the intersection of highway 399 and 108. Has been used as a church for the last few years so its in great shape to mold into whatever you need. Come check out this property before its gone.

23. 2024-09-12
    price $109,900 308-char remark

    Show marketing remark (308 chars)

    Come check out this property with endless possibilities! Can be turned into a store, hair salon, or duplex. Located at the intersection of highway 399 and 108. Has been used as a church for the last few years so its in great shape to mold into whatever you need. Come check out this property before its gone.

24. 2024-05-24
    price $139,900 308-char remark

    Show marketing remark (308 chars)

    Come check out this property with endless possibilities! Can be turned into a store, hair salon, or duplex. Located at the intersection of highway 399 and 108. Has been used as a church for the last few years so its in great shape to mold into whatever you need. Come check out this property before its gone.

25. 2024-01-04
    listed $150,000 Active 308-char remark

    Show marketing remark (308 chars)

    Come check out this property with endless possibilities! Can be turned into a store, hair salon, or duplex. Located at the intersection of highway 399 and 108. Has been used as a church for the last few years so its in great shape to mold into whatever you need. Come check out this property before its gone.

26. 2008-07-23
    soldstatus $96,000
27. 2002-12-03
    soldstatus $18,500
28. 2002-06-18
    soldstatus $10,000

ⓘ 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: $359 · $30/mo
• Projected year-2 tax: $1,100 · $92/mo
• Expected delta: +$742/yr (+$62/mo · 206.5%)

ⓘ 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 7/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $13,333
• − Mortgage interest: −$8,682
• − Property taxes: −$359
• − Insurance: −$775
• − Repairs & maintenance: −$1,067
• − Management: −$1,067
• − Depreciation: −$4,509
• Taxable loss: −$3,125
• Est. tax savings @ 24.0%: +$750
• After-tax cash flow: $395/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: Grundy County
• NCES district ID: 4701530
• Math proficiency: 21% ▼ -4.00%
• Reading proficiency: 23% ▼ -3.00%
• Median HH income: $28,948
• Composite: 17.56/100
• National rank: #9044
• State rank: #110 of 139 in TN

Livability — Palmer

• Score: 47/100
• State rank: #421
• US rank: #26252

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,729

Population outlook (Grundy County) Hauer SSP2

• Today (2025): 12,660 people
• By 2030: 12,088 · -4.5%
• By 2040: 10,879 · -14.1%
• By 2050: 9,666 · -23.6%
• By 2075: 7,126 · -43.7%
• By 2100: 4,941 · -61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Scottish 5% Slovak 3% Lithuanian 1%

Political lean MEDSL · Grundy

• 2024 margin: Solid R (+69.3) · D 15.0% · R 84.3%
• 2008→2024 swing: -56.5pp toward R · 2008: -12.8pp · 2024: -69.3pp
• All cycles: 2024: R+69.3 2020: R+65.2 2016: R+55.3 2012: R+20.5 2008: R+12.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+1500.0% since first listed

12 events — show timeline

• 2026-04-29 Relisted — REALTRACS as Distributed by MLS Grid
• 2026-04-22 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2025-12-30 Price Changed $160,000 REALTRACS as Distributed by MLS Grid
• 2025-10-31 Listed $170,000 REALTRACS as Distributed by MLS Grid
• 2025-09-09 Sold (Public Records) $110,000 Public Records
• 2024-11-07 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2024-09-12 Price Changed $109,900 REALTRACS as Distributed by MLS Grid
• 2024-05-24 Price Changed $139,900 REALTRACS as Distributed by MLS Grid
• 2024-01-04 Listed $150,000 REALTRACS as Distributed by MLS Grid
• 2008-07-23 Sold (Public Records) $96,000 Public Records
• 2002-12-03 Sold (Public Records) $18,500 Public Records
• 2002-06-18 Sold (Public Records) $10,000 Public Records

Property tax history

-6.2%/yr

Latest (2025): $359 · +0.0% YoY. Source: county tax records.