825 Donna St · Morristown, TN 37814

$725,000

None bd · 7.0 ba · 4,983 sqft · MultiFamily public records · 28 Days on market

Built 1985 Good condition Est $698k · at est.

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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 +28.7/30.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• ARV discount +5.7/15.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 9 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Presenting 825 Donna Street, a 9-unit affordable housing community located in Morristown, TN. The property consists entirely of one-bedroom / one-bathroom units and offers investors stable, contract-backed income with a Housing Assistance Payments (HAP) contract in place. The property is managed by a professional third-party management company, with management structured in accordance with HAP regulations. The property is conveniently positioned near retail, employment centers, and major transportation corridors including I-81, making it an attractive housing option within the growing Lakeway Area market.

Key facts

• One bedroom units
• Near retail
• Built 1985

Tags

• ONE BEDROOM UNITS
• CONTRACT BACKED INCOME
• PROFESSIONAL MANAGEMENT
• NEAR RETAIL
• NEAR EMPLOYMENT CENTERS
• NEAR TRANSPORTATION CORRIDORS

Property features AI

Exterior

• Parking: Off-street parking; On-premise parking
• Utilities: Heating available; Wall cooling
• Home design: Multifamily building with 9 total units; Property address: 825 Donna St, Morristown, TN 37814
• Construction: Frame construction
• Exterior features: Frame construction; 1.53-acre lot

Interior

• Flooring: Laminate; Vinyl
• Heating & cooling: Heating present (type listed as 'Other'); Wall cooling
• Interior features: Laminate and vinyl flooring

What this means for you Summary

Snapshot

• This is a 9 × 1-bed/1-bath units multifamily listed at $725k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $268/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $725k).
• Recommended offer: $714k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 2.9% in Morristown — 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 64/100 on livability (#175 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools D-, crime F, amenities F.
• Hamblen County (urban): math 31% / reading 30% proficiency, ranked #57 of 139 in TN (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 330 active listings in the ZIP; 298 units permitted in Hamblen County in 2024 (48 in 5+ unit buildings).
• At $8,594/mo this rent would consume 185% of the median local household income ($56k/yr) (locally 1001% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $22k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $203k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($714k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $714,125 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F 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?
6. 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.
7. 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.
8. 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: 1.19% ✓
• Cap rate: 10.28%
• Cash-on-cash: 14.25%
• DSCR: 1.63
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $697,620
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1215 Shields Ferry Rd	0.63mi	4/—	5,360 (+8%)	5mo	$748,700	$140	54

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: 4.6%
• Equity multiple: 1.18×
• Total profit: $35,825
• Equity at exit: $108,100

10-year hold

• IRR: 14.0%
• Equity multiple: 2.12×
• Total profit: $227,883
• Equity at exit: $62,685

Cash invested: $203,000 (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 37814

• Home prices YoY: -17.1%
• Active inventory: 330
• Price-to-rent: 63.3×

Monthly cashflow live

• Estimated rent: $8,594 medium
• Mortgage (P&I): −$3,802
• Tax from tax record: −$274 /mo · $3,289/yr
• Insurance: −$302
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,805
• Net cashflow: $2,411

Break-even live

Break-even rent $5,542

Max offer price $725,000

Occupancy floor 67%

Sensitivity live

Price	-10% $2,822	-5% $2,616	+0% $2,411	+5% $2,206	+10% $2,001
Rent	-10% $1,732	-5% $2,072	+0% $2,411	+5% $2,751	+10% $3,090
Rate	-1.0pp $2,776	-0.5pp $2,596	base $2,411	+0.5pp $2,223	+1.0pp $2,032

9-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 9× units	1	1	$8,595
Total (9 units)			$8,594

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: $181,250
• Closing costs: $21,750
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $725,000 Active 28 DOM
2. 2026-06-18
   days on market $725,000 Active 27 DOM
3. 2026-06-17
   days on market $725,000 Active 26 DOM
4. 2026-06-16
   days on market $725,000 Active 25 DOM
5. 2026-06-15
   days on market $725,000 Active 24 DOM
6. 2026-06-14
   days on market $725,000 Active 22 DOM
7. 2026-06-12
   days on market $725,000 Active 21 DOM
8. 2026-06-09
   days on market $725,000 Active 18 DOM
9. 2026-06-08
   days on market $725,000 Active 17 DOM
10. 2026-06-07
    days on market $725,000 Active 16 DOM
11. 2026-06-05
    days on market $725,000 Active 13 DOM
12. 2026-06-02
    days on market $725,000 Active 11 DOM
13. 2026-06-01
    days on market $725,000 Active 10 DOM
14. 2026-05-31
    days on market $725,000 Active 9 DOM
15. 2026-05-30
    days on market $725,000 Active 8 DOM
16. 2026-05-22
    listed $725,000 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: $3,289 · $274/mo
• Projected year-2 tax: $5,148 · $429/mo
• Expected delta: +$1,858/yr (+$155/mo · 56.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 6 d/yr ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $103,128
• − Mortgage interest: −$40,611
• − Property taxes: −$3,289
• − Insurance: −$3,625
• − Repairs & maintenance: −$8,250
• − Management: −$8,250
• − Depreciation: −$21,091
• Taxable income: $18,011
• Est. tax owed @ 24.0%: −$4,323
• After-tax cash flow: $24,611/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 75/100 Cosmetic rehab

This multi-family property is in good condition with no visible repairs needed. It offers stable, contract-backed income with a Housing Assistance Payments (HAP) contract in place. The property is conveniently positioned near retail, employment centers, and major transportation corridors, making it an attractive housing option within the growing Lakeway Area market.

Value-add opportunities

• Both Painting the exterior — Fresh paint can enhance curb appeal and property value.
• Both Landscaping improvements — Well-maintained landscaping can increase property value and attract tenants.
• Rental HVAC maintenance — A well-maintained HVAC system can attract tenants and reduce maintenance costs.
• Resale Interior updates — Updating the interior can attract buyers and increase the property's resale value.
• Both Property management services — Professional management can ensure the property is well-maintained and attract tenants or buyers.
• Both Housing Assistance Payments (HAP) contract — The HAP contract provides stable income and can attract both tenants and buyers.
• Both Community improvements — Improvements to the surrounding area can increase property value and attract tenants or buyers.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Fresh paint can enhance curb appeal and property value. ↑
• Both Landscaping improvements — Well-maintained landscaping can increase property value and attract tenants. ↑
• Rental HVAC maintenance — A well-maintained HVAC system can attract tenants and reduce maintenance costs. ↑
• Resale Interior updates — Updating the interior can attract buyers and increase the property's resale value. ↑
• Both Property management services — Professional management can ensure the property is well-maintained and attract tenants or buyers. ↑
• Both Housing Assistance Payments (HAP) contract — The HAP contract provides stable income and can attract both tenants and buyers. ↑
• Both Community improvements — Improvements to the surrounding area can increase property value and attract tenants or buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hamblen County
• NCES district ID: 4700001
• Math proficiency: 31% ▼ -5.00%
• Reading proficiency: 30% ▼ -4.00%
• Median HH income: $39,361
• Composite: 25.61/100
• National rank: #7412
• State rank: #57 of 139 in TN

Livability — Morristown

• Score: 64/100
• State rank: #175
• US rank: #14625

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morristown, TN
• County: Hamblen County · 35,239 people
• City population: 35,239
• Metro: Morristown, TN
• Population (ZIP): 35,239
• Household income: $55,650
• Rent vs Own: 33.5% rent · 66.5% own
• Severe rent burden: 1001.0

Population outlook (Hamblen County) Hauer SSP2

• Today (2025): 65,185 people
• By 2030: 65,707 · +0.8%
• By 2040: 66,189 · +1.5%
• By 2050: 65,798 · +0.9%
• By 2075: 62,642 · -3.9%
• By 2100: 55,702 · -14.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 16% Two or more races 12% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 2%
• Common ancestry: Slovak 3% Lithuanian 2% Serbian 2%
• Foreign-born: 8% · Canada
• Languages at home: 85% English-only · Spanish 13% Other Asian/Pacific 1%

Political lean MEDSL · Hamblen

• 2024 margin: Solid R (+58.9) · D 20.1% · R 79.0%
• 2008→2024 swing: -20.5pp toward R · 2008: -38.4pp · 2024: -58.9pp
• All cycles: 2024: R+58.9 2020: R+54.0 2016: R+57.2 2012: R+46.4 2008: R+38.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.88%
• Current HPI: 299.6486
• Rent YoY: —
• Metro: Morristown, 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

1 event — show timeline

• 2026-05-22 Listed $725,000 Knoxville MLS

Property tax history

+8.7%/yr

Latest (2024): $3,289 · +8.7% YoY. Source: county tax records.