607 N Main St

Dyer, TN 38330

$23,500B+

2 bd · 1.0 ba · 1,045 sqft · Built 1964 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $950/mo
• Mortgage (P&I): −$123
• Tax + insurance: −$23
• HOA: −$0
• Vac / Maint / Mgmt: −$199
• Net cashflow: $604/mo
• Annual: $7,246/yr
• Cap rate: 37.13%
• Cash-on-cash: 110.12%
• DSCR: 5.90
• 1% rule: 4.04%
• Cash to close: $6,580

Investor read

• This is a 2-bed/1.0-bath single-family listed at $24k.
• At list price, monthly cash flow is $604 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($950 rent vs $24k).
• It's been on market 23 days — a 2% lower offer ($23k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $23k (1.5% below list) — sets the bar for market timing.
• In year one you build about $533 of equity ($162 loan paydown + $371 appreciation (1.6% local appreciation)).
• Location reads 62/100 on livability (#234 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Gibson County Sp District (rural): math 47% / reading 39% proficiency, ranked #11 of 139 in TN (top 8%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 28 active listings in the ZIP; 155 units permitted in Gibson County in 2024 (0 in 5+ unit buildings).
• Gibson County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $9k; list at $24k implies a 161% gain — meaningful room to come down on a strong offer.
• At projected returns (1.6% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• 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.

Questions for listing agent

• Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.