220 Harmony Rd · Fall Branch, TN 37659

$180,000

3 bd · 2.0 ba · 960 sqft · Manufactured public records · 7 Days on market

Built 1980 0.48 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 +13.4/30.0
• ARV discount +7.5/15.0
• DSCR +4.0/10.0
• 1% rule +3.8/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity in Jonesborough! This home has recently been surveyed, please notice the markers on the property. This listing includes 3 parcels located at 180 Harmony Rd, listed at $50,000, 184 Harmony Rd Listed at $70,000, and 220 Harmony Rd listed at $180,000. Altogether they are priced in a package deal at $275,000. Whether you're looking for a primary residence, rental property, or investment opportunity, this has plenty of potential. 180 Harmony road is almost a half acre with a septic tank on the property, but the location unknown. There is an old electric meter to the property, but it is currently not hooked up. the Parcel is perfect for a camper. There is electricity and water on harmony rd. 184 Harmony road is a single wide from 1988. There is a well on the property but it is not currently active. Please be careful on the deck as it is sturdy but in poor condition. Sellers have installed new floors on the property. Roof is original. The driveway for 184 Harmony road seems to be on 180 harmony road, so if the property is sold separately, the sellers will create a right of way for 184 harmony road. Location for the septic is known. 220 Harmony road is a 3 bed, 2 full bath double wide manufactured home from 1996 with city water and a septic with new field lines. all the appliances convey with the property. inside, the sellers have laid new floors, painted, replaced the side deck and replaced a window. Foor is 10 years old. Don't miss this unique opportunity! Information taken from 3rd party sources, it is the buyer's responsibility to verify.

Key facts

• Two adjoining lots
• Storage shed
• Windows replaced

Tags

• TWO ADJOINING LOTS
• STORAGE SHED
• DECK RECENTLY REPLACED
• WINDOWS REPLACED
• LIFETIME WARRANTY ROOF

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Septic tank; Cable available
• Home design: Manufactured house (double wide); Single family residence; Residential zoning
• Construction: Vinyl siding; Shingle roof; Foundation: See remarks; Built as a manufactured (mobile) home
• Exterior features: Outbuilding and storage; Level and sloped topography

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher not listed
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Flooring: Laminate; Parquet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Double pane windows; Deck; Front porch
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $4 ($51/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (12.2% below list).
• Recommended offer: $158k (12.2% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 2.5% in Fall Branch — 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 65/100 on livability (#154 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing B+; Watch: amenities F, commute F, employment F.
• Washington County (suburban): math 26% / reading 34% proficiency, ranked #54 of 139 in TN (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sulphur Springs Elementary (math 22% / reading 26%, grade F, #584 of 952 statewide, top 62%, 375 students, 0% FRL); Daniel Boone High School (math 23% / reading 46%, grade F, #41 of 332 statewide, top 15%, 1,211 students, 0% FRL) — zoned schools average 0% FRL vs 41% district-wide (41 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 312 active listings in the ZIP; 1,155 units permitted in Washington County in 2024 (437 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.
• Washington County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $95k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $34k; list at $180k implies a 429% gain — meaningful room to come down on a strong offer.

Recommended offer $158,003 (12.2% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 0.88% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.10%
• DSCR: 1.00
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.1%
• Equity multiple: 0.43×
• Total profit: $-28,871
• Equity at exit: $26,839

10-year hold

• IRR: -7.8%
• Equity multiple: 0.51×
• Total profit: $-24,692
• Equity at exit: $15,563

Cash invested: $50,400 (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 37659

• Home prices YoY: -19.7%
• Active inventory: 312
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,580 medium
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $4

Break-even live

Break-even rent $1,575

Max offer price $180,000

Occupancy floor 95%

Sensitivity live

Price	-10% $129	-5% $66	+0% $4	+5% $-58	+10% $-120
Rent	-10% $-121	-5% $-58	+0% $4	+5% $67	+10% $129
Rate	-1.0pp $95	-0.5pp $50	base $4	+0.5pp $-42	+1.0pp $-90

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-19
   status $180,000 Pending 7 DOM
2. 2026-06-18
   days on market $180,000 Active 7 DOM
3. 2026-06-17
   days on market $180,000 Active 6 DOM
4. 2026-06-16
   days on market $180,000 Active 5 DOM
5. 2026-06-15
   days on market $180,000 Active 4 DOM
6. 2026-06-14
   days on market $180,000 Active 2 DOM
7. 2026-06-13
   remarks 660-char remark
8. 2026-06-13
   listed $180,000 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°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: $18,960
• − Mortgage interest: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$900
• − Repairs & maintenance: −$1,517
• − Management: −$1,517
• − Depreciation: −$5,236
• Taxable loss: −$2,992
• Est. tax savings @ 24.0%: +$718
• After-tax cash flow: $770/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: Washington County
• NCES district ID: 4704380
• Math proficiency: 26% ▼ -21.00%
• Reading proficiency: 34% ▼ -11.00%
• Median HH income: $46,542
• Composite: 25.85/100
• National rank: #7350
• State rank: #54 of 139 in TN

Livability — Fall Branch

• Score: 65/100
• State rank: #154
• US rank: #13417

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Washington County · 129,006 people
• Metro: Johnson City, TN
• Population (ZIP): 29,080
• Household income: $71,110
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 310.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 3% Asian 2% Black 1%
• Common ancestry: Italian 3% Serbian 3% Slovak 2%
• Foreign-born: 3% · South Korea, Canada
• Languages at home: 96% English-only · Spanish 1% Korean 1% Other Asian/Pacific 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: ▼ -73.31%
• Current HPI: 298.6464
• Rent YoY: —
• 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

+708.8% since first listed

3 events — show timeline

• 2026-06-11 Listed $275,000 TVRMLS
• 2026-06-11 Listed $180,000 TVRMLS
• 1992-01-11 Sold (Public Records) $34,000 Public Records

Property tax history

+11.2%/yr

Latest (2025): $354 · +0.0% YoY. Source: county tax records.