371 Myers Rd · Winchester, TN 37398

$185,000

3 bd · 2.0 ba · 1,834 sqft · SingleFamily public records · 5 Days on market

Built 1969 0.46 ac lot

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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 +27.6/30.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Newly renovated home by one of Franklin County's top home builders. This ready to move in 3 bdrm, 2 bath both remodeled, new plumbing, new kitchen. new paint, some wiring, dry wall & brick refinished.

Key facts

• Attached carport
• Florida room
• Concreted driveway

Tags

• FLORIDA ROOM
• ATTACHED CARPORT
• CONCRETED DRIVEWAY
• STORAGE SHED
• SPLIT LOT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $551 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Cap rate 9.9% vs local median 3.0% in Winchester — 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 65/100 on livability (#149 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime D, amenities D-.
• Franklin County (town): math 18% / reading 22% proficiency, ranked #111 of 139 in TN (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Decherd Elementary (math 27% / reading 17%, grade F, #601 of 952 statewide, top 66%, 442 students, 0% FRL); Franklin Co High School (math 5% / reading 22%, grade F, #255 of 332 statewide, top 77%, 1,180 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 324 active listings in the ZIP; 422 units permitted in Franklin County in 2024 (5 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 $6k of value loss. Plan a longer hold.
• Franklin County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y 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 $114k; list at $185k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $185,000

Questions for the listing agent

1. Built in 1969 — 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. 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?
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: 1.17% ✓
• Cap rate: 9.87%
• Cash-on-cash: 12.77%
• DSCR: 1.57
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $397,978
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
371 Myers Rd	0.00mi	3/2.0	1,834 (0%)	1mo	$220,000	$120	99
281 Myers Rd	0.09mi	3/2.5	1,775 (-3%)	20mo	$298,000	$168	72
285 Crimson Dr	0.35mi	3/2.0	1,761 (-4%)	8mo	$300,000	$170	70
147 Crimson Dr	0.41mi	3/2.0	1,773 (-3%)	10mo	$350,000	$197	68
270 Audobon Dr	0.73mi	3/2.0	1,844 (+0%)	0mo	$425,000	$230	65
454 Myers Rd	0.10mi	3/2.0	1,580 (-14%)	10mo	$364,900	$231	64
43 Orchard Ln	0.36mi	3/2.0	1,998 (+9%)	16mo	$365,000	$183	55
290 Colonial Dr	0.44mi	3/2.0	1,644 (-10%)	13mo	$357,000	$217	51
218 Chickamauga Trl	0.59mi	3/2.0	1,632 (-11%)	8mo	$357,900	$219	48
2425 Old Tullahoma Rd	0.50mi	3/2.0	1,567 (-15%)	8mo	$315,000	$201	46
2272 Old Tullahoma Rd	0.38mi	3/2.5	1,577 (-14%)	17mo	$354,900	$225	42
119 Riva Lake Rd	0.58mi	4/2.0 (+1)	1,969 (+7%)	20mo	$450,000	$229	39

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: 2.6%
• Equity multiple: 1.10×
• Total profit: $5,091
• Equity at exit: $27,584

10-year hold

• IRR: 12.1%
• Equity multiple: 1.96×
• Total profit: $49,472
• Equity at exit: $15,995

Cash invested: $51,800 (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 37398

• Home prices YoY: -21.1%
• Active inventory: 324
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,162 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$110 /mo · $1,315/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $551

Break-even live

Break-even rent $1,464

Max offer price $185,000

Occupancy floor 70%

Sensitivity live

Price	-10% $656	-5% $604	+0% $551	+5% $499	+10% $447
Rent	-10% $380	-5% $466	+0% $551	+5% $637	+10% $722
Rate	-1.0pp $644	-0.5pp $598	base $551	+0.5pp $503	+1.0pp $455

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-26
   status Pending
2. 2026-04-20
   listed $185,000 Active
3. 2015-05-15
   soldstatus $114,200 Closed 204-char remark

   Show marketing remark (204 chars)

   Newly renovated home by one of Franklin County's top home builders. This ready to move in 3 bdrm, 2 bath both remodeled, new plumbing, new kitchen. new paint, some wiring, dry wall & brick refinished.

4. 2015-04-08
   historical Contingent - Financing 204-char remark

   Show marketing remark (204 chars)

   Newly renovated home by one of Franklin County's top home builders. This ready to move in 3 bdrm, 2 bath both remodeled, new plumbing, new kitchen. new paint, some wiring, dry wall & brick refinished.

5. 2015-01-06
   listed $118,900 Active 204-char remark

   Show marketing remark (204 chars)

   Newly renovated home by one of Franklin County's top home builders. This ready to move in 3 bdrm, 2 bath both remodeled, new plumbing, new kitchen. new paint, some wiring, dry wall & brick refinished.

6. 2014-10-20
   listed $118,900 204-char remark

   Show marketing remark (204 chars)

   Newly renovated home by one of Franklin County's top home builders. This ready to move in 3 bdrm, 2 bath both remodeled, new plumbing, new kitchen. new paint, some wiring, dry wall & brick refinished.

7. 2013-09-11
   soldstatus $63,500

ⓘ 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: $1,315 · $110/mo
• Projected year-2 tax: $1,315 · $110/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,946
• − Mortgage interest: −$10,363
• − Property taxes: −$1,315
• − Insurance: −$925
• − Repairs & maintenance: −$2,076
• − Management: −$2,076
• − Depreciation: −$5,382
• Taxable income: $3,810
• Est. tax owed @ 24.0%: −$914
• After-tax cash flow: $5,701/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: Franklin County
• NCES district ID: 4701290
• Math proficiency: 18% ▼ -9.00%
• Reading proficiency: 22% ▼ -8.00%
• Median HH income: $43,108
• Composite: 17.24/100
• National rank: #9094
• State rank: #111 of 139 in TN

Livability — Winchester

• Score: 65/100
• State rank: #149
• US rank: #13341

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Winchester, TN
• Population (ZIP): 15,712

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 42,858 people
• By 2030: 43,540 · +1.6%
• By 2040: 44,623 · +4.1%
• By 2050: 45,523 · +6.2%
• By 2075: 48,954 · +14.2%
• By 2100: 50,170 · +17.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 7% Black 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+53.2) · D 23.0% · R 76.1%
• 2008→2024 swing: -30.6pp toward R · 2008: -22.5pp · 2024: -53.2pp
• All cycles: 2024: R+53.2 2020: R+47.7 2016: R+43.7 2012: R+28.9 2008: R+22.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.03%
• Current HPI: 333.839
• 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

+191.3% since first listed

7 events — show timeline

• 2026-04-26 Pending — REALTRACS as Distributed by MLS Grid
• 2026-04-20 Listed $185,000 REALTRACS as Distributed by MLS Grid
• 2015-05-15 Sold (MLS) $114,200 REALTRACS as Distributed by MLS Grid
• 2015-04-08 Contingent — REALTRACS as Distributed by MLS Grid
• 2015-01-06 Listed $118,900 REALTRACS as Distributed by MLS Grid
• 2014-10-20 Listed $118,900 REALTRACS as Distributed by MLS Grid
• 2013-09-11 Sold (Public Records) $63,500 Public Records

Property tax history

+5.1%/yr

Latest (2025): $1,315 · +0.0% YoY. Source: county tax records.