950 Indian Gap Rd · Sevierville, TN 37876

$165,000

2 bd · 1.0 ba · 1,128 sqft · SingleFamily public records · 114 Days on market

Built 1950 0.50 ac lot $146/sqft · 69% below area ↓ 17% since listing

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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 +17.2/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• 1% rule +4.7/10.0
• Livability +2.9/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0

Listing remarks MLS

Cute and cozy 2 Bedroom, 1 Bath cottage situated on a private 1/2 acre lot in a country setting in the Boyds Creek area of Sevierville. The open floor plan offers a spacious living room with lots of natural light pouring into the home through a large picture window. A oil burning stove provides additional warmth or a backup heating source in case of a weather related power outage. The kitchen offers a full compliment of appliances and solid wood cabinetry. The 2 bedrooms are ample in size. A large laundry room and an unfinished basement offer additional storage opportunities. The private, screened in porch overlooks the yard and offers a relaxing retreat. The country cottage is ideal for a starter home, an investment property or a vacation getaway. This home is being offered for the first time in over 50 years and being is sold as-is.

Key facts

• Solid wood cabinetry
• Open floor plan
• Private lot

Tags

• PRIVATE LOT
• COUNTRY SETTING
• OPEN FLOOR PLAN
• NATURAL LIGHT
• FULL COMPLIMENT OF APPLIANCES
• SOLID WOOD CABINETRY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $118 ($1k/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 $159k (3.5% below list).
• Recommended offer: $150k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 1.7% in Sevierville — 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 57/100 on livability (#323 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: employment C-, schools F, crime F.
• Sevier County (rural): math 31% / reading 28% proficiency, ranked #62 of 139 in TN (top 45%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents soft (-2.6%/yr); 1127 active listings in the ZIP; 1,594 units permitted in Sevier County in 2024 (456 in 5+ unit buildings).
• This rent runs 33% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Sevier County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 0.0% rent growth), your $46k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.97% ✗
• Cap rate: 7.15%
• Cash-on-cash: 3.06%
• DSCR: 1.14
• GRM: 8.6

CMA / ARV

• ARV (median comp): $535,730
• List price: $165,000
• Delta: -69.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2161 Wingspan Dr	0.71mi	2/2.0	1,008 (-11%)	17mo	$405,500	$402	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 25.4%
• Equity multiple: 3.01×
• Total profit: $92,715
• Equity at exit: $148,645

10-year hold

• IRR: 21.6%
• Equity multiple: 6.60×
• Total profit: $258,830
• Equity at exit: $320,559

Cash invested: $46,200 (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 37876

• Home prices YoY: 2.4%
• Rents YoY: -2.6%
• Active inventory: 1127
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,592 medium
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $118

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 88%

Sensitivity live

Price	-10% $232	-5% $175	+0% $118	+5% $61	+10% $4
Rent	-10% $-8	-5% $55	+0% $118	+5% $181	+10% $243
Rate	-1.0pp $201	-0.5pp $160	base $118	+0.5pp $75	+1.0pp $31

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $165,000 Active 114 DOM
2. 2026-06-18
   days on market $165,000 Active 113 DOM
3. 2026-06-17
   days on market $165,000 Active 112 DOM
4. 2026-06-16
   days on market $165,000 Active 111 DOM
5. 2026-06-15
   days on market $165,000 Active 110 DOM
6. 2026-06-14
   days on market $165,000 Active 108 DOM
7. 2026-06-13
   days on market $165,000 Active 107 DOM
8. 2026-06-10
   statusdays on market $165,000 Active 105 DOM
9. 2026-06-09
   days on market $165,000 Pending - Continue to Show 104 DOM
10. 2026-06-08
    days on market $165,000 Pending - Continue to Show 103 DOM
11. 2026-06-07
    days on market $165,000 Pending - Continue to Show 102 DOM
12. 2026-06-02
    days on market $165,000 Pending - Continue to Show 97 DOM
13. 2026-06-01
    days on market $165,000 Pending - Continue to Show 96 DOM
14. 2026-05-31
    days on market $165,000 Pending - Continue to Show 95 DOM
15. 2026-05-30
    days on market $165,000 Pending - Continue to Show 94 DOM
16. 2026-04-27
    price $165,000 847-char remark

    Show marketing remark (847 chars)

    Cute and cozy 2 Bedroom, 1 Bath cottage situated on a private 1/2 acre lot in a country setting in the Boyds Creek area of Sevierville. The open floor plan offers a spacious living room with lots of natural light pouring into the home through a large picture window. A oil burning stove provides additional warmth or a backup heating source in case of a weather related power outage. The kitchen offers a full compliment of appliances and solid wood cabinetry. The 2 bedrooms are ample in size. A large laundry room and an unfinished basement offer additional storage opportunities. The private, screened in porch overlooks the yard and offers a relaxing retreat. The country cottage is ideal for a starter home, an investment property or a vacation getaway. This home is being offered for the first time in over 50 years and being is sold as-is.

17. 2026-03-29
    price $184,900 847-char remark

    Show marketing remark (847 chars)

    Cute and cozy 2 Bedroom, 1 Bath cottage situated on a private 1/2 acre lot in a country setting in the Boyds Creek area of Sevierville. The open floor plan offers a spacious living room with lots of natural light pouring into the home through a large picture window. A oil burning stove provides additional warmth or a backup heating source in case of a weather related power outage. The kitchen offers a full compliment of appliances and solid wood cabinetry. The 2 bedrooms are ample in size. A large laundry room and an unfinished basement offer additional storage opportunities. The private, screened in porch overlooks the yard and offers a relaxing retreat. The country cottage is ideal for a starter home, an investment property or a vacation getaway. This home is being offered for the first time in over 50 years and being is sold as-is.

18. 2026-02-25
    listed $199,900 Active 847-char remark

    Show marketing remark (847 chars)

    Cute and cozy 2 Bedroom, 1 Bath cottage situated on a private 1/2 acre lot in a country setting in the Boyds Creek area of Sevierville. The open floor plan offers a spacious living room with lots of natural light pouring into the home through a large picture window. A oil burning stove provides additional warmth or a backup heating source in case of a weather related power outage. The kitchen offers a full compliment of appliances and solid wood cabinetry. The 2 bedrooms are ample in size. A large laundry room and an unfinished basement offer additional storage opportunities. The private, screened in porch overlooks the yard and offers a relaxing retreat. The country cottage is ideal for a starter home, an investment property or a vacation getaway. This home is being offered for the first time in over 50 years and being is sold as-is.

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,108
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,529
• − Management: −$1,529
• − Depreciation: −$4,800
• Taxable loss: −$1,292
• Est. tax savings @ 24.0%: +$310
• After-tax cash flow: $1,722/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: Sevier County
• NCES district ID: 4703780
• Math proficiency: 31% ▼ -6.00%
• Reading proficiency: 28% ▼ -4.00%
• Median HH income: $42,730
• Composite: 25.12/100
• National rank: #7527
• State rank: #62 of 139 in TN

Livability — Sevierville

• Score: 57/100
• State rank: #323
• US rank: #21663

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sevier County · 80,402 people
• Metro: Sevierville, TN
• Population (ZIP): 33,561
• Household income: $58,277
• Rent vs Own: 23.4% rent · 76.6% own
• Severe rent burden: 611.0

Population outlook (Sevier County) Hauer SSP2

• Today (2025): 107,903 people
• By 2030: 113,633 · +5.3%
• By 2040: 123,969 · +14.9%
• By 2050: 132,123 · +22.4%
• By 2075: 148,524 · +37.6%
• By 2100: 153,436 · +42.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 5% Two or more races 5% Black 1%
• Common ancestry: Slovak 5% Serbian 4% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Russian/Polish/Slavic 1%

Political lean MEDSL · Sevier

• 2024 margin: Solid R (+61.1) · D 18.9% · R 80.1% · Other 1.0%
• 2008→2024 swing: -13.1pp toward R · 2008: -48.1pp · 2024: -61.1pp
• All cycles: 2024: R+61.1 2020: R+57.6 2016: R+61.7 2012: R+54.8 2008: R+48.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.06%
• Current HPI: 477.19
• Rent YoY: ▼ -2.57%
• Metro: Sevierville, 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

-17.5% since first listed

3 events — show timeline

• 2026-04-27 Price Changed $165,000 Knoxville MLS
• 2026-03-29 Price Changed $184,900 Knoxville MLS
• 2026-02-25 Listed $199,900 Knoxville MLS

Property tax history

+1.6%/yr

Latest (2025): $225 · +0.0% YoY. Source: county tax records.