740 Kings Ln Unit A3 · Tullahoma, TN 37388

$185,000

3 bd · 2.0 ba · 1,130 sqft · Condo · 102 Days on market

Built 2025 Good condition $164/sqft · 11% below area Est $209k · 11% under $130/mo HOA · 8% of rent ↓ 7% since listing

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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).

• ARV discount +12.7/15.0
• Cash flow +11.2/30.0
• 1% rule +4.1/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• DSCR +3.3/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Step into this beautifully designed 3BR/2BA two-story townhome where modern style meets everyday convenience. An inviting open layout is complemented by durable luxury vinyl plank flooring, custom cabinetry, and sleek, modern ceiling fans throughout. The kitchen is a true standout, featuring stainless Whirlpool appliances—including refrigerator, stove, microwave, washer, and dryer—all ready for move-in ease. Enjoy a prime location just minutes from shopping, dining, and local amenities an zoned for highly regarded Tullahoma City Schools, this property offers both comfort and practicality in one appealing package.

Key facts

• Custom cabinetry
• Open layout
• Prime location

Tags

• OPEN LAYOUT
• LUXURY VINYL PLANK FLOORING
• CUSTOM CABINETRY
• STAINLESS WHIRLPOOL APPLIANCES
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $185k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-72 ($-868/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (8.6% below list).
• Recommended offer: $168k (9.0% below list) — sets the bar for market timing.
• Cap rate 5.8% vs local median 3.5% in Tullahoma — 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 67/100 on livability (#109 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, employment D+.
• Tullahoma (town): math 23% / reading 24% proficiency, ranked #101 of 139 in TN (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Robert E Lee Elementary (math 41% / reading 37%, grade F, #253 of 952 statewide, top 27%, 500 students, 0% FRL); Tullahoma High School (math 15% / reading 32%, grade F, #145 of 332 statewide, top 44%, 1,137 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 378 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 389 units permitted in Coffee County in 2024 (6 in 5+ unit buildings).
• This rent runs 34% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Coffee County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($168k) is reasonable based on typical stale-listing flexibility.

Recommended offer $168,350 (9.0% 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 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.91% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.68%
• DSCR: 0.93
• GRM: 9.1

CMA / ARV

• ARV (median comp): $208,917
• List price: $185,000
• Delta: -11.45%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
740 Kings Ln Unit A6	0.00mi	3/2.0	1,130 (0%)	0mo	$185,000	$164	100
126 Middleton Ct	0.15mi	2/2.0 (-1)	1,148 (+2%)	0mo	$215,000	$187	85
107 Chastain St	0.18mi	3/2.0	1,040 (-8%)	1mo	$214,900	$207	78
0 Chastain St E	0.18mi	3/2.0	1,040 (-8%)	2mo	$214,900	$207	77
2 Chastain St W	0.19mi	3/2.0	1,040 (-8%)	1mo	$214,900	$207	77
106 Chastain St	0.19mi	3/2.0	1,040 (-8%)	2mo	$216,000	$208	76
741 Kings Ln Unit A-1	0.06mi	2/2.0 (-1)	950 (-16%)	1mo	$200,000	$211	66
741 Kings Ln Unit C12	0.06mi	2/2.0 (-1)	950 (-16%)	2mo	$200,000	$211	66
311 E Grizzard St	1.30mi	3/2.0	1,070 (-5%)	1mo	$215,000	$201	56
701 Cedar Ln	1.35mi	3/1.0	1,232 (+9%)	2mo	$185,000	$150	44
809 E Grizzard St	1.39mi	3/2.0	878 (-22%)	2mo	$185,000	$211	39
705 Circle Dr	1.49mi	2/1.0 (-1)	870 (-23%)	2mo	$155,000	$178	29

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: -19.0%
• Equity multiple: 0.33×
• Total profit: $-34,482
• Equity at exit: $27,584

10-year hold

• IRR: -11.4%
• Equity multiple: 0.31×
• Total profit: $-35,534
• 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 →

Active competition Active MLS

• For sale now: 2 active
• Median asking: $192,450 ($170/sqft)
• Median days on market: 42 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +8.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 37388

• Home prices YoY: -19.9%
• Active inventory: 378
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,691 medium
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$130
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $-72

Break-even live

Break-even rent $1,783

Max offer price $174,527

Occupancy floor 99%

Sensitivity live

Price	-10% $55	-5% $-8	+0% $-72	+5% $-136	+10% $-200
Rent	-10% $-206	-5% $-139	+0% $-72	+5% $-6	+10% $61
Rate	-1.0pp $21	-0.5pp $-25	base $-72	+0.5pp $-120	+1.0pp $-169

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1315 Cedar Ln Tullahoma, TN	1.0–2.0	1.0–2.0	902	$1,395	$1.55	72d	1	0.81mi
612 Marbury Rd Tullahoma, TN	3.0	2.0	1200	$1,600	$1.33	93d	1	1.00mi

Property features AI

Finance

• Other: Living area approximately 1,130 (owner reported)
• HOA & community: HOA with a $130 monthly feeOne-time association fee of $200HOA covers grounds maintenance and trash

Exterior

• Parking: 2 open parking spaces on concrete
• Utilities: Public waterPublic sewerElectricity availableWater service available
• Home design: Residential attached property (horizontal property regime - attached)Two levelsNew construction
• Construction: Brick constructionShingle roofSlab foundationBuilt new
• Exterior features: PatioLevel lot

Interior

• Kitchen: Electric oven and electric rangeMicrowaveRefrigeratorStainless steel appliances
• Bedrooms: 3 bedrooms (1 on main level)Bedroom sizes: 9x9, 12x14, 12x12
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heatingCentral air conditioning (electric)
• Interior features: Open floor plan (living room and kitchen)No basement
• Laundry & utility: Washer and dryer includedWasher hookup and electric dryer hookup

HOA detail $130/mo · $1,560/yr condo

• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $185,000 Active 102 DOM
2. 2026-08-07
   days on market $185,000 Active 101 DOM
3. 2026-08-06
   days on market $185,000 Active 100 DOM
4. 2026-08-05
   days on market $185,000 Active 99 DOM
5. 2026-08-04
   days on market $185,000 Active 98 DOM
6. 2026-08-03
   days on market $185,000 Active 97 DOM
7. 2026-07-31
   days on market $185,000 Active 94 DOM
8. 2026-07-29
   days on market $185,000 Active 92 DOM
9. 2026-07-27
   days on market $185,000 Active 90 DOM
10. 2026-07-25
    days on market $185,000 Active 88 DOM
11. 2026-07-24
    days on market $185,000 Active 87 DOM
12. 2026-07-23
    days on market $185,000 Active 86 DOM
13. 2026-07-22
    days on market $185,000 Active 85 DOM
14. 2026-07-21
    days on market $185,000 Active 84 DOM
15. 2026-07-18
    days on market $185,000 Active 81 DOM
16. 2026-07-16
    days on market $185,000 Active 79 DOM
17. 2026-07-16
    days on market $185,000 Active 78 DOM
18. 2026-07-14
    days on market $185,000 Active 77 DOM
19. 2026-07-13
    days on market $185,000 Active 76 DOM
20. 2026-07-12
    days on market $185,000 Active 75 DOM
21. 2026-07-11
    days on market $185,000 Active 74 DOM
22. 2026-07-10
    days on market $185,000 Active 73 DOM
23. 2026-07-09
    days on market $185,000 Active 72 DOM
24. 2026-07-08
    days on market $185,000 Active 71 DOM
25. 2026-07-07
    days on market $185,000 Active 70 DOM
26. 2026-07-06
    days on market $185,000 Active 69 DOM
27. 2026-07-05
    days on market $185,000 Active 68 DOM
28. 2026-07-04
    days on market $185,000 Active 67 DOM
29. 2026-07-03
    days on market $185,000 Active 66 DOM
30. 2026-07-02
    days on market $185,000 Active 65 DOM
31. 2026-07-01
    days on market $185,000 Active 64 DOM
32. 2026-06-30
    days on market $185,000 Active 63 DOM
33. 2026-06-29
    days on market $185,000 Active 62 DOM
34. 2026-06-28
    days on market $185,000 Active 61 DOM
35. 2026-06-28
    days on market $185,000 Active 60 DOM
36. 2026-06-27
    days on market $185,000 Active 59 DOM
37. 2026-06-26
    days on market $185,000 Active 58 DOM
38. 2026-06-22
    days on market $185,000 Active 55 DOM
39. 2026-06-19
    days on market $185,000 Active 52 DOM
40. 2026-06-18
    days on market $185,000 Active 51 DOM
41. 2026-06-17
    days on market $185,000 Active 50 DOM
42. 2026-06-16
    days on market $185,000 Active 49 DOM
43. 2026-06-15
    days on market $185,000 Active 48 DOM
44. 2026-06-14
    days on market $185,000 Active 46 DOM
45. 2026-06-13
    days on market $185,000 Active 45 DOM
46. 2026-06-10
    days on market $185,000 Active 43 DOM
47. 2026-06-09
    days on market $185,000 Active 42 DOM
48. 2026-06-08
    days on market $185,000 Active 41 DOM
49. 2026-06-07
    days on market $185,000 Active 40 DOM
50. 2026-06-05
    days on market $185,000 Active 37 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $20,295
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$1,624
• − Management: −$1,624
• − HOA: −$1,560
• − Depreciation: −$5,382
• Taxable loss: −$3,956
• Est. tax savings @ 24.0%: +$950
• After-tax cash flow: $81/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This move-in-ready 3BR/2BA townhome features modern design, stainless steel appliances, and new finishes, making it an attractive option for both buyers and renters.

Value-add opportunities

• Both Painting — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Landscaping — Well-maintained landscaping can improve curb appeal and attract potential buyers ↑
• Both Add decorative elements — Adding decorative elements can enhance the home's curb appeal and interior aesthetics ↑

F Composite school gradezoned avg 28/100

Zoned Schools

Elementary Robert E Lee Elementary F TN #253/952 Nat'l #20,819/41,679 Middle East Middle School F TN #176/333 Nat'l #11,208/14,009 High Tullahoma High School F TN #145/332 Nat'l #13,485/17,239

Schools (NCES district)

• District: Tullahoma
• NCES district ID: 4704200
• Math proficiency: 23% ▼ -5.00%
• Reading proficiency: 24% ▼ -4.00%
• Median HH income: $37,384
• Composite: 19.61/100
• National rank: #8752
• State rank: #101 of 139 in TN

C Composite livability gradescore 67/100

Livability — Tullahoma

• Score: 67/100
• State rank: #109
• US rank: #11169

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tullahoma, TN
• County: Coffee County · 57,234 people
• City population: 27,939
• Metro: Tullahoma-Manchester, TN
• Population (ZIP): 27,939
• Household income: $59,537
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 4% of renters

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Population outlook (Coffee County) Hauer SSP2

• Today (2025): 57,234 people
• By 2030: 58,571 · +2.3%
• By 2040: 60,972 · +6.5%
• By 2050: 62,537 · +9.3%
• By 2075: 65,694 · +14.8%
• By 2100: 63,355 · +10.7%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 6% Hispanic / Latino 5% Black 5%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 3% Italian 3% Serbian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 96% English-only · Spanish 3%

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Political lean MEDSL · Coffee

• 2024 margin: Solid R (+55.1) · D 21.8% · R 76.9% · Other 1.3%
• 2008→2024 swing: -25.7pp toward R · 2008: -29.4pp · 2024: -55.1pp
• All cycles: 2024: R+55.1 2020: R+50.2 2016: R+48.6 2012: R+37.1 2008: R+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.82%
• Current HPI: 317.7062
• Rent YoY: —
• Metro: Tullahoma-Manchester, TN
• State GDP YoY: ▲ 2.78%
• F500 in state: 22

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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

Property features AI

Finance

• Other: Living area approximately 1,130 (owner reported)
• HOA & community: HOA with a $130 monthly feeOne-time association fee of $200HOA covers grounds maintenance and trash

Exterior

• Parking: 2 open parking spaces on concrete
• Utilities: Public waterPublic sewerElectricity availableWater service available
• Home design: Residential attached property (horizontal property regime - attached)Two levelsNew construction
• Construction: Brick constructionShingle roofSlab foundationBuilt new
• Exterior features: PatioLevel lot

Interior

• Kitchen: Electric oven and electric rangeMicrowaveRefrigeratorStainless steel appliances
• Bedrooms: 3 bedrooms (1 on main level)Bedroom sizes: 9x9, 12x14, 12x12
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heatingCentral air conditioning (electric)
• Interior features: Open floor plan (living room and kitchen)No basement
• Laundry & utility: Washer and dryer includedWasher hookup and electric dryer hookup

Price history

-7.5% since first listed

2 events — show timeline

• 2026-06-02 Price Changed $185,000 REALTRACS as Distributed by MLS Grid
• 2026-04-28 Listed $199,900 REALTRACS as Distributed by MLS Grid