1603 Lone Oak Rd · Johnson City, TN 37604

$10,000

3 bd · 3.0 ba · 1,530 sqft · SingleFamily public records · 1 Days on market

Built 2010 0.29 ac lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1603 Lone Oak Rd in beautiful East Tennessee! Step into an immaculate home which is beautifully remodeled and redefines modern living. This 3-bedroom, 3 bath home offers versatility and style like no other. One of the two main ensuites is located in the daylight basement and perfect for guests or can be used as an in-law suite, complete with an extra den and a private exit door. The luxurious downstairs bath showcases granite vanity countertops . The kitchen and main bath were tastefully remodeled in 2021, boasting elegant quarts countertops and a walk in tile shower. with a rainfall shower head The hall bath received a 2019 makeover, ensuring comfort with a tiled shower stall and rainfall shower head. Notable upgrades include a new refrigerator in 2023, a 2022-installed hot water heater and a brand new 2.5 ton HVAC unit. Enjoy the outdoors on the new front and back decks with added convenience thanks to new gutters installed in September 2023. Inside, revel in the brilliance of new light fixtures, five ceiling fans and modern Luxury Vinyl Plank (LVP) flooring throughout. There's even a storage building beneath the back deck. The garage offers ample space for storage and a dedicated workshop area for DIY enthusiasts. The large front yard is perfect for pets and children and the private back deck for grilling and your morning coffee. Nestled in the sought after Cherokee Elementary School district, education is a priority. While the FEMA flood map suggest flood insurance, please note the property has never experienced flooding near the house itself, only by the road. Both refrigerators and the microwave are included and the beautiful washer and dryer are negotiable. The Johnson City haven is more than a house, it's the embodiment of a new beginning. Don't miss your chance to call 1603 Lone Oak Road your forever home.

Key facts

• Quartz countertops
• Kitchen island
• 0.29 acre lot

Tags

• REMODELED SPLIT-LEVEL HOME
• OPEN-CONCEPT LIVING AREA
• KITCHEN REMODELED IN 2021
• QUARTZ COUNTERTOPS
• KITCHEN ISLAND
• SUBWAY TILE BACKSPLASH

Property features AI

Finance

• HOA & community: Landscaping (association amenity)

Exterior

• Parking: Deeded parking; 2-car garage; Concrete parking pad
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family house; One and one-half stories; Residential property
• Construction: Stone and vinyl siding exterior; Asphalt shingle roof; Partially finished, walk-out basement; Built with standard foundation
• Exterior features: Deck; Front porch; Cleared, level topography; Outbuilding / shed(s)

Interior

• Kitchen: Cooktop; Dishwasher; Disposal; Electric range
• Bedrooms: Total rooms: 6
• Flooring: Laminate
• Bathrooms: 3 full bathrooms
• Heating & cooling: Heat pump heating; Heat pump cooling
• Interior features: Eat-in kitchen; Granite counters; Kitchen island; Walk-in closets; Insulated windows
• Laundry & utility: Washer hookup; Electric dryer hookup

🏷️ Possibly a rental listed for sale. The $10,000 price doesn't fit this home's estimated sale value (~$281,520) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $10k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $10k).
• Cap rate 175.3% vs local median 3.1% in Johnson City — 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 76/100 on livability (#8 in TN, #3,349 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A; Watch: crime D, commute F, employment F.
• Johnson City (urban): math 46% / reading 47% proficiency, ranked #9 of 139 in TN (top 6%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cherokee Elementary (math 32% / reading 42%, grade F, #272 of 952 statewide, top 31%, 342 students, 0% FRL); Liberty Bell Middle School (math 43% / reading 38%, grade F, #42 of 333 statewide, top 13%, 898 students, 0% FRL); Science Hill High School (math 37% / reading 60%, grade D, #13 of 332 statewide, top 4%, 2,401 students, 0% FRL) — zoned schools average 0% FRL vs 44% district-wide (44 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.5%/yr); 207 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,155 units permitted in Washington County in 2024 (437 in 5+ unit buildings).
• This rent runs 43% of the median local income ($52k/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 $69 of loan paydown is wiped out by about $300 of value loss. Plan a longer hold.
• Washington County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 1.5% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $10,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 18.71% ✓
• Cap rate: 175.33%
• Cash-on-cash: 603.70%
• DSCR: 27.86
• GRM: 0.4

CMA / ARV

• ARV (on-the-fly): $281,520
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1805 Brook Hollow Rd	0.37mi	3/2.0	1,505 (-2%)	1mo	$434,900	$289	75
2 Machamer Ct	0.50mi	3/1.5	1,519 (-1%)	2mo	$259,000	$171	68
1916 Clearwood Dr	0.12mi	3/1.5	1,620 (+6%)	13mo	$210,000	$130	68
1908 Cherokee Rd	0.37mi	3/2.0	1,445 (-6%)	5mo	$360,000	$249	66
1702 Jackson Ter	0.57mi	3/1.5	1,519 (-1%)	14mo	$288,500	$190	55
1610 Woodridge Dr	0.16mi	3/2.0	1,757 (+15%)	17mo	$360,000	$205	50
2101 Cherokee Rd #15	0.39mi	2/1.5 (-1)	1,408 (-8%)	11mo	$1,500	$1	48
1709 Cherokee Rd #201	0.62mi	2/2.5 (-1)	1,640 (+7%)	12mo	$1,750	$1	42
1903 Triangle Rd	0.65mi	3/2.0	1,730 (+13%)	7mo	$242,350	$140	38
6 Bingham Court Ct	0.51mi	2/— (-1)	1,745 (+14%)	12mo	$181,500	$104	38
1607 Seminole Dr	0.58mi	3/2.0	1,660 (+8%)	23mo	$320,000	$193	36
2218 Greenwood Dr	0.72mi	4/2.0 (+1)	1,759 (+15%)	11mo	$324,000	$184	24

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 · 1.51% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 30.23×
• Total profit: $81,858
• Equity at exit: $1,491

10-year hold

• IRR: —
• Equity multiple: 62.25×
• Total profit: $171,498
• Equity at exit: $865

Cash invested: $2,800 (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 37604

• Home prices YoY: -26.1%
• Rents YoY: 1.5%
• Active inventory: 207
• Price-to-rent: 0.4×

Monthly cashflow live

• Estimated rent: $1,871 high
• Mortgage (P&I): −$52
• Tax est. 1.5%: −$12 /mo · $150/yr
• Insurance: −$4
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $1,353

Break-even live

Break-even rent $158

Max offer price $10,000

Occupancy floor 23%

Sensitivity live

Price	-10% $1,360	-5% $1,357	+0% $1,353	+5% $1,350	+10% $1,346
Rent	-10% $1,205	-5% $1,279	+0% $1,353	+5% $1,427	+10% $1,501
Rate	-1.0pp $1,358	-0.5pp $1,356	base $1,353	+0.5pp $1,351	+1.0pp $1,348

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: $2,500
• Closing costs: $300
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2205 Forest Acres Dr Johnson City, TN	4.0	2.0	1932	$2,200	$1.14	14d	1	0.21mi
1608 Herrin Dr Johnson City, TN	3.0	2.0	1528	$1,450	$0.95	22d	1	0.27mi
2 Horseshoe Bnd Johnson City, TN	4.0	3.0	2042	$2,250	$1.10	22d	1	0.42mi
2710 S Greenwood Dr Johnson City, TN	2.0	2.0	1300	$1,850	$1.42	22d	1	0.54mi
2229 N Greenwood Dr Johnson City, TN	3.0	2.5	1443	$1,900	$1.32	44d	1	0.68mi
2229 N Greenwood Dr #2 Johnson City, TN	3.0	2.5	1443	$1,900	$1.32	44d	1	0.68mi
1816 Presswood Rd Johnson City, TN	2.0	1.5	1092	$1,300	$1.19	14d	1	0.79mi
2912 Antioch Rd Johnson City, TN	3.0	2.0	1796	$2,200	$1.22	14d	1	1.04mi
1023 Justus Dr Johnson City, TN	3.0	2.0	2048	$2,200	$1.07	14d	1	1.05mi
700 Antioch Rd Johnson City, TN	3.0	2.0	1500	$1,900	$1.27	44d	1	1.15mi
2802 W Walnut St #5 Johnson City, TN	2.0	2.5	1500	$1,900	$1.27	44d	1	1.28mi
2802 W Walnut St #6 Johnson City, TN	2.0	3.0	1500	$1,800	$1.20	44d	1	1.28mi
2203 McKinley Rd Unit Studio 7 Johnson City, TN	2.0	1.0	1200	$1,535	$1.28	44d	1	1.37mi

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $10,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,447
• − Mortgage interest: −$560
• − Property taxes: −$150
• − Insurance: −$716
• − Repairs & maintenance: −$1,796
• − Management: −$1,796
• − Depreciation: −$291
• Taxable income: $17,138
• Est. tax owed @ 24.0%: −$4,113
• After-tax cash flow: $12,124/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: Johnson City
• NCES district ID: 4702130
• Math proficiency: 46% ▼ -14.00%
• Reading proficiency: 47% ▼ -2.00%
• Median HH income: $37,514
• Composite: 38.69/100
• National rank: #4143
• State rank: #9 of 139 in TN

Livability — Johnson City

• Score: 76/100
• State rank: #8
• US rank: #3349

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Johnson City, TN
• County: Washington County · 129,006 people
• City population: 99,926
• Metro: Johnson City, TN
• Population (ZIP): 39,097
• Household income: $52,345
• Rent vs Own: 49.7% rent · 50.3% own
• Severe rent burden: 2254.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 132,816 people
• By 2030: 135,823 · +2.3%
• By 2040: 140,897 · +6.1%
• By 2050: 145,073 · +9.2%
• By 2075: 156,386 · +17.7%
• By 2100: 159,893 · +20.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 6% Black 6% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 3% Serbian 3% Italian 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+39.5) · D 29.6% · R 69.1% · Other 1.3%
• 2008→2024 swing: -6.0pp toward R · 2008: -33.5pp · 2024: -39.5pp
• All cycles: 2024: R+39.5 2020: R+36.2 2016: R+42.9 2012: R+38.5 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.73%
• Current HPI: 277.1137
• Rent YoY: ▲ 1.51%
• Metro: Johnson City, TN
• 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

-90.2% since first listed

10 events — show timeline

• 2026-06-18 Listed $10,000 TVRMLS
• 2023-11-09 Sold (Public Records) $310,000 Public Records
• 2023-11-09 Sold (MLS) $310,000 TVRMLS
• 2023-10-12 Contingent — TVRMLS
• 2023-10-04 Listed $324,000 TVRMLS
• 2018-08-09 Sold (Public Records) $170,000 Public Records
• 2018-08-07 Sold (MLS) $170,000 TVRMLS
• 2018-06-07 Listed $174,900 TVRMLS
• 2014-02-28 Sold (Public Records) $155,000 Public Records
• 2009-12-02 Sold (Public Records) $102,000 Public Records

Property tax history

-0.9%/yr

Latest (2025): $1,042 · +0.0% YoY. Source: county tax records.