1805 King College Rd Unit E6 · Bristol, TN 37620

$135,000

2 bd · 2.0 ba · 1,260 sqft · Condo public records · 18 Days on market

Built 1972 $140/mo HOA · 8% of rent

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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 +27.5/30.0
• DSCR +9.6/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

All you need is your suitcase!! Fully Furnished and Low maintenance end unit condo close to many activities in Bristol and surrounding area. This condo was updated by the previous owner. Paint and new flooring throughout. This end unit condo with two balconies in the rear and one on the front have bountiful options. Live in it, lease it, or possibly use as short term rental. Make your appointment with your Realtor today!

Key facts

• 2 back balconies
• Community pool
• Move in ready

Tags

• MOVE IN READY
• DESIRABLE END UNIT
• NEWLY RENOVATED FULL BATHROOM
• 2 BACK BALCONIES
• COMMUNITY POOL
• EASY WALK TO CONVENIENCE STORE

Property features AI

Finance

• Other: Zoned residential; Located in Village Square Condo subdivision
• HOA & community: Homeowners association with a $140 monthly fee; Community pool

Exterior

• Utilities: Public water; Public sewer
• Home design: Townhouse; Two levels; Condominium (residential)
• Construction: Brick construction
• Exterior features: Community pool; Shingle roof

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heat pump heating; Heat pump cooling
• Interior features: Eat-in kitchen; 4 total rooms
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $397 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 3.8% in Bristol — 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 73/100 on livability (#24 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, commute F, employment F.
• Bristol (urban): math 37% / reading 35% proficiency, ranked #29 of 139 in TN (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Holston View Elementary (math 62% / reading 57%, grade B-, #60 of 952 statewide, top 7%, 301 students, 0% FRL); Tennessee High School (math 20% / reading 41%, grade F, #75 of 332 statewide, top 24%, 1,154 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 254 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 453 units permitted in Sullivan County in 2024 (6 in 5+ unit buildings).
• This rent runs 37% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k 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 + 3.0% rent growth), your $38k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $132,975 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D 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 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: 1.27% ✓
• Cap rate: 9.83%
• Cash-on-cash: 12.62%
• DSCR: 1.56
• GRM: 6.5

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: 2.4%
• Equity multiple: 1.09×
• Total profit: $3,477
• Equity at exit: $20,129

10-year hold

• IRR: 12.0%
• Equity multiple: 1.95×
• Total profit: $35,796
• Equity at exit: $11,672

Cash invested: $37,800 (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 37620

• Active inventory: 254
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,721 high
• Mortgage (P&I): −$708
• Tax from tax record: −$58 /mo · $697/yr
• Insurance: −$56
• HOA: −$140
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $397

Break-even live

Break-even rent $1,218

Max offer price $135,000

Occupancy floor 72%

Sensitivity live

Price	-10% $474	-5% $436	+0% $397	+5% $359	+10% $321
Rent	-10% $261	-5% $329	+0% $397	+5% $465	+10% $533
Rate	-1.0pp $465	-0.5pp $432	base $397	+0.5pp $362	+1.0pp $327

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
254 Wildwood Dr Bristol, TN	3.0	1.5	1200	$1,550	$1.29	14d	1	0.23mi
201 Springdale Rd Bristol, TN	3.0	2.0	1635	$2,750	$1.68	45d	1	1.04mi
221 Monroe Dr Bristol, TN	3.0	2.0	1282	$2,650	$2.07	22d	1	1.15mi
1206 Golf St Bristol, TN	3.0	1.0	960	$1,500	$1.56	14d	1	1.16mi
279 Reservoir St Bristol, VA	3.0	1.5	1300	$1,600	$1.23	14d	1	1.46mi
924 Maryland Ave Unit F Bristol, TN	2.0	2.0	1780	$2,000	$1.12	14d	1	1.47mi

HOA detail condo

• Monthly dues: $140 · $1,680/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-19
   days on market $135,000 Active 18 DOM
2. 2026-06-18
   days on market $135,000 Active 17 DOM
3. 2026-06-17
   days on market $135,000 Active 16 DOM
4. 2026-06-16
   days on market $135,000 Active 15 DOM
5. 2026-06-15
   days on market $135,000 Active 14 DOM
6. 2026-06-14
   days on market $135,000 Active 12 DOM
7. 2026-06-13
   days on market $135,000 Active 11 DOM
8. 2026-06-10
   days on market $135,000 Active 9 DOM
9. 2026-06-09
   days on market $135,000 Active 8 DOM
10. 2026-06-08
    days on market $135,000 Active 7 DOM
11. 2026-06-07
    days on market $135,000 Active 6 DOM
12. 2026-06-03
    days on market $135,000 Active 2 DOM
13. 2026-06-02
    remarks 699-char remark
14. 2026-06-02
    listed $135,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TN · Resets to sale price

• Current annual tax: $697 · $58/mo
• Projected year-2 tax: $958 · $80/mo
• Expected delta: +$262/yr (+$22/mo · 37.5%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,653
• − Mortgage interest: −$7,562
• − Property taxes: −$697
• − Insurance: −$675
• − Repairs & maintenance: −$1,652
• − Management: −$1,652
• − HOA: −$1,680
• − Depreciation: −$3,927
• Taxable income: $2,807
• Est. tax owed @ 24.0%: −$674
• After-tax cash flow: $4,095/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: Bristol
• NCES district ID: 4700360
• Math proficiency: 37% ▼ -7.00%
• Reading proficiency: 35% ▼ -8.00%
• Median HH income: $37,018
• Composite: 29.95/100
• National rank: #6376
• State rank: #29 of 139 in TN

Livability — Bristol

• Score: 73/100
• State rank: #24
• US rank: #5413

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bristol, TN
• County: Sullivan County · 121,987 people
• City population: 38,494
• Metro: Kingsport-Bristol, TN-VA
• Population (ZIP): 38,494
• Household income: $56,128
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 724.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 3% Black 2%
• Common ancestry: Serbian 3% Slovak 3% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% 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: ▼ -294.12%
• Current HPI: 263.38
• Rent YoY: —
• 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

+12.5% since first listed

18 events — show timeline

• 2026-06-01 Listed $135,000 TVRMLS
• 2025-12-07 Price Changed $135,000 TVRMLS
• 2025-11-10 Price Changed $139,900 TVRMLS
• 2025-10-17 Price Changed $144,990 TVRMLS
• 2025-08-09 Price Changed $154,900 TVRMLS
• 2025-06-21 Price Changed $169,000 TVRMLS
• 2023-05-23 Sold (Public Records) $120,000 Public Records
• 2023-05-19 Sold (MLS) $120,000 TVRMLS
• 2023-04-13 Contingent — TVRMLS
• 2023-04-02 Relisted — TVRMLS
• 2023-03-30 Contingent — TVRMLS
• 2023-03-28 Listed $129,900 TVRMLS
• 2022-09-01 Sold (Public Records) $110,000 Public Records
• 2022-08-31 Sold (MLS) $110,000 TVRMLS
• 2022-08-10 Listed $119,000 TVRMLS
• 2021-07-16 Sold (Public Records) $41,500 Public Records
• 2007-04-27 Sold (Public Records) $46,000 Public Records
• 1997-02-28 Sold (Public Records) $120,000 Public Records

Property tax history

-1.3%/yr

Latest (2025): $697 · +35.9% YoY. Source: county tax records.