918 Independence Dr · Bloomingdale, TN 37660

$49,000

2 bd · 1.0 ba · 720 sqft · SingleFamily · 170 Days on market

Built 1947 Poor condition 0.50 ac lot $68/sqft · 61% below area ↓ 18% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +2.8/5.0
• Schools +1.8/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment opportunity on a quiet, dead-end street with 0.50 acres. This bungalow was recently surveyed. Loads of potential.

Key facts

• 0.5 acre lot
• Built 1947
• Listed 170 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $49k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $539 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Recommended offer: $43k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.5% vs local median 4.9% in Bloomingdale — 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 56/100 on livability (#343 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Sullivan County (suburban): math 17% / reading 24% proficiency, ranked #109 of 139 in TN (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Ketron Elementary School (math 16% / reading 19%, grade F, #704 of 952 statewide, top 74%, 563 students, 0% FRL) — zoned schools average 0% FRL vs 45% district-wide (45 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+8.0%/yr); 240 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 453 units permitted in Sullivan County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $339 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Sullivan County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 170 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $43,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 170 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1947 — 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 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?
7. 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?
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: 2.27% ✓
• Cap rate: 19.51%
• Cash-on-cash: 47.19%
• DSCR: 3.10
• GRM: 3.7

CMA / ARV

• ARV (median comp): $127,268
• List price: $49,000
• Delta: -61.50%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.95% rent growth · sell at horizon

5-year hold

• IRR: 50.1%
• Equity multiple: 3.35×
• Total profit: $32,250
• Equity at exit: $7,306

10-year hold

• IRR: 57.6%
• Equity multiple: 8.20×
• Total profit: $98,824
• Equity at exit: $4,237

Cash invested: $13,720 (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 37660

• Home prices YoY: -24.2%
• Rents YoY: 8.0%
• Active inventory: 240
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,112 medium
• Mortgage (P&I): −$257
• Tax est. 1.5%: −$61 /mo · $735/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $539

Break-even live

Break-even rent $429

Max offer price $49,000

Occupancy floor 46%

Sensitivity live

Price	-10% $573	-5% $556	+0% $539	+5% $523	+10% $506
Rent	-10% $452	-5% $496	+0% $539	+5% $583	+10% $627
Rate	-1.0pp $564	-0.5pp $552	base $539	+0.5pp $527	+1.0pp $514

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1528 Lynn Garden Dr Unit 5 Kingsport, TN	1.0	1.0	650	$750	$1.15	45d	1	1.19mi

Listing history 18 events

1. 2026-06-21
   days on market $49,000 Active 170 DOM
2. 2026-06-19
   days on market $49,000 Active 168 DOM
3. 2026-06-18
   days on market $49,000 Active 167 DOM
4. 2026-06-17
   days on market $49,000 Active 166 DOM
5. 2026-06-16
   days on market $49,000 Active 165 DOM
6. 2026-06-15
   days on market $49,000 Active 164 DOM
7. 2026-06-14
   days on market $49,000 Active 162 DOM
8. 2026-06-13
   days on market $49,000 Active 161 DOM
9. 2026-06-10
   days on market $49,000 Active 159 DOM
10. 2026-06-09
    days on market $49,000 Active 158 DOM
11. 2026-06-08
    days on market $49,000 Active 157 DOM
12. 2026-06-07
    days on market $49,000 Active 156 DOM
13. 2026-06-02
    days on market $49,000 Active 151 DOM
14. 2026-06-01
    days on market $49,000 Active 150 DOM
15. 2026-05-31
    days on market $49,000 Active 149 DOM
16. 2026-05-30
    days on market $49,000 Active 148 DOM
17. 2026-03-06
    price $49,000 124-char remark

    Show marketing remark (124 chars)

    Investment opportunity on a quiet, dead-end street with 0.50 acres. This bungalow was recently surveyed. Loads of potential.

18. 2026-01-02
    listed $59,900 Active 124-char remark

    Show marketing remark (124 chars)

    Investment opportunity on a quiet, dead-end street with 0.50 acres. This bungalow was recently surveyed. Loads of potential.

ⓘ 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 3/10 Moderate 4 d/yr ≥100°F today · 11 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,339
• − Mortgage interest: −$2,745
• − Property taxes: −$735
• − Insurance: −$245
• − Repairs & maintenance: −$1,067
• − Management: −$1,067
• − Depreciation: −$1,425
• Taxable income: $6,054
• Est. tax owed @ 24.0%: −$1,453
• After-tax cash flow: $5,021/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

Poor 20/100 Extensive rehab

This property requires extensive repairs and updates to bring it up to a livable condition. Significant investment is needed to address structural issues, improve the home's functionality, and increase its value.

Repairs flagged

• Major Kitchen cabinets — Severe damage and need for replacement.
• Major Bathroom fixtures — Outdated and in need of replacement.
• Major Roof — Moss and potential water damage.
• Major Exterior siding — Peeling and structural issues.
• Major Flooring — Worn and in need of replacement.
• Major Interior walls — Bare and in need of painting.
• Major Windows — Broken and need replacement.
• Major Foundation — Unstable and in need of repair.
• Major HVAC system — Old and in need of replacement.
• Major Landscaping — Overgrown and in need of maintenance.

Value-add opportunities

• Both Paint interior walls — Fresh paint can improve the home's appearance and increase its value.
• Both Replace broken windows — New windows will improve the home's curb appeal and increase its value.
• Both Replace HVAC system — A new HVAC system will improve the home's comfort and increase its value.
• Both Replace flooring — New flooring will improve the home's appearance and increase its value.
• Both Replace kitchen cabinets — New cabinets will improve the home's functionality and increase its value.
• Both Replace bathroom fixtures — New fixtures will improve the home's functionality and increase its value.
• Both Repair roof — A repaired roof will improve the home's functionality and increase its value.
• Both Repair exterior siding — A repaired exterior will improve the home's appearance and increase its value.
• Both Repair foundation — A repaired foundation will improve the home's functionality and increase its value.
• Both Maintain landscaping — A maintained landscape will improve the home's curb appeal and increase its value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Severe damage and need for replacement.	Major	$15,000–50,000
Bathroom fixtures · Outdated and in need of replacement.	Major	$15,000–50,000
Roof · Moss and potential water damage.	Major	$15,000–50,000
Exterior siding · Peeling and structural issues.	Major	$15,000–50,000
Flooring · Worn and in need of replacement.	Major	$15,000–50,000
Interior walls · Bare and in need of painting.	Major	$15,000–50,000
Windows · Broken and need replacement.	Major	$15,000–50,000
Foundation · Unstable and in need of repair.	Major	$15,000–50,000
HVAC system · Old and in need of replacement.	Major	$15,000–50,000
Landscaping · Overgrown and in need of maintenance.	Major	$15,000–50,000
Total estimated repair cost · 10 items		$150,000–500,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can improve the home's appearance and increase its value. ↑
• Both Replace broken windows — New windows will improve the home's curb appeal and increase its value. ↑
• Both Replace HVAC system — A new HVAC system will improve the home's comfort and increase its value. ↑
• Both Replace flooring — New flooring will improve the home's appearance and increase its value. ↑
• Both Replace kitchen cabinets — New cabinets will improve the home's functionality and increase its value. ↑
• Both Replace bathroom fixtures — New fixtures will improve the home's functionality and increase its value. ↑
• Both Repair roof — A repaired roof will improve the home's functionality and increase its value. ↑
• Both Repair exterior siding — A repaired exterior will improve the home's appearance and increase its value. ↑
• Both Repair foundation — A repaired foundation will improve the home's functionality and increase its value. ↑
• Both Maintain landscaping — A maintained landscape will improve the home's curb appeal and increase its value. ↑

ⓘ 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: Sullivan County
• NCES district ID: 4703990
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 24% ▼ -10.00%
• Median HH income: $43,263
• Composite: 17.66/100
• National rank: #9030
• State rank: #109 of 139 in TN

Livability — Bloomingdale

• Score: 56/100
• State rank: #343
• US rank: #22770

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sullivan County · 121,987 people
• Metro: Kingsport-Bristol, TN-VA
• Population (ZIP): 40,996
• Household income: $49,191
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 1384.0

Population outlook (Sullivan County) Hauer SSP2

• Today (2025): 157,030 people
• By 2030: 156,415 · -0.4%
• By 2040: 153,778 · -2.1%
• By 2050: 149,018 · -5.1%
• By 2075: 138,068 · -12.1%
• By 2100: 119,927 · -23.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 4% Black 4% Hispanic / Latino 3%
• Common ancestry: Serbian 3% Slovak 3% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Sullivan

• 2024 margin: Solid R (+55.0) · D 22.0% · R 77.0% · Other 1.0%
• 2008→2024 swing: -13.6pp toward R · 2008: -41.3pp · 2024: -55.0pp
• All cycles: 2024: R+55.0 2020: R+51.9 2016: R+56.2 2012: R+47.2 2008: R+41.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.93%
• Current HPI: 252.9821
• Rent YoY: ▲ 7.95%
• Metro: Kingsport-Bristol, TN-VA
• 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

-18.2% since first listed

2 events — show timeline

• 2026-03-06 Price Changed $49,000 TVRMLS
• 2026-01-02 Listed $59,900 TVRMLS