604 Trudy St · Elizabethton, TN 37643

$175,000

3 bd · 1.0 ba · 936 sqft · SingleFamily public records · 241 Days on market

Built 1955 7,405 sqft lot Est $187k · 7% under ↓ 5% 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).

• Cash flow +11.8/30.0
• ARV discount +10.4/15.0
• DSCR +3.5/10.0
• Livability +3.3/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-bedroom, 1-bath cottage in the heart of Elizabethton. Sitting on a . 17-acre lot, this cozy home offers privacy with the convenience of city living. Enjoy nearby access to the Tweetsie Trail, Covered Bridge, shops, restaurants, hospital, and schools. Features include a safe neighborhood, front porch for sitting & large yard perfect for kids or pets.

Key facts

• Front porch
• Large yard
• Covered bridge

Tags

• COVERED BRIDGE
• FRONT PORCH
• LARGE YARD

Property features AI

Exterior

• Home design: Single-family house; Residential property
• Construction: Vinyl siding
• Exterior features: Level lot; Metal roof

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Heat pump for heating; Heat pump for cooling
• Interior features: Six total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $-49 ($-590/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (5.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (26.8% below list).
• Recommended offer: $128k (26.8% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.7% in Elizabethton — 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 66/100 on livability (#121 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime A-; Watch: amenities F, commute F, employment F.
• Elizabethton (suburban): math 36% / reading 35% proficiency, ranked #35 of 139 in TN (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Harold Mccormick Elementary (math 27% / reading 32%, grade F, #423 of 952 statewide, top 48%, 380 students, 0% FRL); T A Dugger Junior High School (math 42% / reading 28%, grade F, #65 of 333 statewide, top 20%, 633 students, 0% FRL); Elizabethton High School (math 17% / reading 41%, grade F, #92 of 332 statewide, top 28%, 863 students, 0% FRL) — zoned schools average 0% FRL vs 43% district-wide (43 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 173 active listings in the ZIP; 184 units permitted in Carter County in 2024 (0 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 $5k of value loss. Plan a longer hold.
• Carter County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 241 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $128,072 (26.8% 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 241 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.73% ✗
• Cap rate: 5.96%
• Cash-on-cash: -1.20%
• DSCR: 0.95
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $187,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
728 Lynn Ave	0.19mi	3/1.0	960 (+3%)	0mo	$197,700	$206	86
709 2nd St	0.23mi	2/1.0 (-1)	920 (-2%)	1mo	$225,000	$245	81
709 Watauga Ave	0.31mi	3/1.0	920 (-2%)	10mo	$122,000	$133	74
134 Jackson Ave	0.41mi	3/1.0	912 (-3%)	8mo	$130,000	$143	70
409 Roan St	0.56mi	2/1.0 (-1)	955 (+2%)	4mo	$184,000	$193	62
806 Beech St	0.33mi	2/1.0 (-1)	857 (-8%)	12mo	$146,897	$171	56
729 Well St	0.18mi	2/1.0 (-1)	1,046 (+12%)	16mo	$150,000	$143	54
900 2nd St	0.16mi	2/1.0 (-1)	819 (-12%)	17mo	$184,500	$225	52
601 Bingham St	0.08mi	2/2.0 (-1)	1,073 (+15%)	15mo	$216,900	$202	50
806 Tipton St	0.44mi	2/1.0 (-1)	1,053 (+12%)	4mo	$169,950	$161	50
708 Well St	0.26mi	2/1.0 (-1)	798 (-15%)	11mo	$185,000	$232	49
116 H St	0.68mi	2/1.0 (-1)	994 (+6%)	12mo	$199,000	$200	43

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: -18.3%
• Equity multiple: 0.36×
• Total profit: $-31,563
• Equity at exit: $26,093

10-year hold

• IRR: -10.8%
• Equity multiple: 0.35×
• Total profit: $-31,812
• Equity at exit: $15,131

Cash invested: $49,000 (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 37643

• Home prices YoY: -19.3%
• Active inventory: 173
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,281 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$70 /mo · $844/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $-49

Break-even live

Break-even rent $1,343

Max offer price $166,309

Occupancy floor 99%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-15
   status Pending
2. 2026-04-01
   status Active
3. 2026-03-27
   status Pending
4. 2026-02-25
   status Active
5. 2026-02-15
   status Pending
6. 2025-09-25
   price $175,000
7. 2025-08-29
   listed $185,000 Active

ⓘ 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: $844 · $70/mo
• Projected year-2 tax: $1,242 · $104/mo
• Expected delta: +$398/yr (+$33/mo · 47.2%)

ⓘ 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 4/10 Moderate 7 d/yr ≥97°F today · 20 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: $15,369
• − Mortgage interest: −$9,803
• − Property taxes: −$844
• − Insurance: −$875
• − Repairs & maintenance: −$1,229
• − Management: −$1,229
• − Depreciation: −$5,091
• Taxable loss: −$3,703
• Est. tax savings @ 24.0%: +$889
• After-tax cash flow: $298/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: Elizabethton
• NCES district ID: 4701110
• Math proficiency: 36% ▼ -12.00%
• Reading proficiency: 35% ▼ -8.00%
• Median HH income: $30,800
• Composite: 28.94/100
• National rank: #6630
• State rank: #35 of 139 in TN

Livability — Elizabethton

• Score: 66/100
• State rank: #121
• US rank: #11785

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elizabethton, TN
• City population: 513
• Population (ZIP): 33,690

Population outlook (Carter County) Hauer SSP2

• Today (2025): 54,493 people
• By 2030: 52,639 · -3.4%
• By 2040: 47,929 · -12.0%
• By 2050: 42,877 · -21.3%
• By 2075: 31,487 · -42.2%
• By 2100: 21,979 · -59.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Carter

• 2024 margin: Solid R (+63.2) · D 17.9% · R 81.2%
• 2008→2024 swing: -16.1pp toward R · 2008: -47.2pp · 2024: -63.2pp
• All cycles: 2024: R+63.2 2020: R+61.5 2016: R+64.0 2012: R+52.0 2008: R+47.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.08%
• Current HPI: 321.4024
• 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

-5.4% since first listed

7 events — show timeline

• 2026-05-15 Pending — TVRMLS
• 2026-04-01 Relisted — TVRMLS
• 2026-03-27 Pending — TVRMLS
• 2026-02-25 Relisted — TVRMLS
• 2026-02-15 Pending — TVRMLS
• 2025-09-25 Price Changed $175,000 TVRMLS
• 2025-08-29 Listed $185,000 TVRMLS

Property tax history

+1.3%/yr

Latest (2025): $844 · +2.4% YoY. Source: county tax records.