169 Grand Ave #402 · Johnson City, TN 37601

$2,500

2 bd · 2.0 ba · 1,080 sqft · Townhouse public records · 245 Days on market

Built 2007

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this fully furnished townhome, available on a convenient month-to-month basis. Featuring two spacious bedrooms, two full baths, and a one-car garage, this home offers both comfort and flexibility. The open floor plan includes a modern, fully stocked kitchen and a living area designed for relaxing or entertaining. Smart TVs are provided in the living space and bedrooms for your enjoyment. All utilities—including electricity, water, internet, and trash service—are included in the monthly rent, along with lawn care, making this a truly turnkey option. The property is located just minutes from vibrant downtown Johnson City, offering easy access to dining, shopping, and en

Key facts

• Turnkey option
• Smart tvs provided
• Garage

Tags

• FULLY FURNISHED TOWNHOME
• MODERN FULLY STOCKED KITCHEN
• SMART TVS PROVIDED
• TURNKEY OPTION
• MINUTES FROM VIBRANT DOWNTOWN

Property features AI

Exterior

• Parking: 1-car garage; Driveway (asphalt); Garage door opener
• Utilities: Public water; Public sewer
• Home design: Townhouse; Two levels; Residential property
• Construction: Brick and vinyl siding construction; Slab foundation; Built as a townhouse
• Exterior features: Level topography; Asphalt shingle roof

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Heat pump; Central air conditioning; Ceiling fans
• Interior features: Open floor plan; Total of 7 rooms
• Laundry & utility: Washer; Dryer

🏷️ Possibly a rental listed for sale. The $2,500 price doesn't fit this home's estimated sale value (~$165,240) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $2k).
• Recommended offer: $2k (12.0% below list) — sets the bar for market timing.
• Cap rate 571.1% vs local median 3.1% in Johnson City — 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 76/100 on livability (#8 in TN, #3,349 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A; Watch: crime D, commute F, employment F.
• Johnson City (urban): math 46% / reading 47% proficiency, ranked #9 of 139 in TN (top 6%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mountain View Elementary (math 22% / reading 27%, grade F, #546 of 952 statewide, top 61%, 498 students, 0% FRL); Liberty Bell Middle School (math 43% / reading 38%, grade F, #42 of 333 statewide, top 13%, 898 students, 0% FRL); Science Hill High School (math 37% / reading 60%, grade D, #13 of 332 statewide, top 4%, 2,401 students, 0% FRL) — zoned schools average 0% FRL vs 44% district-wide (44 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.9%/yr); 206 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,155 units permitted in Washington County in 2024 (437 in 5+ unit buildings).
• This rent runs 36% of the median local income ($51k/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 $17 of loan paydown is wiped out by about $75 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.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $700 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 245 days — a 12% lower offer ($2k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 4% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $2,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 245 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 60.46% ✓
• Cap rate: 571.12%
• Cash-on-cash: 2017.25%
• DSCR: 90.76
• GRM: 0.1

CMA / ARV

• ARV (on-the-fly): $165,240
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
216 University Parkway Pkwy Unit 21w	0.59mi	2/2.0	1,081 (+0%)	18mo	$165,000	$153	57

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 · 4.88% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 111.68×
• Total profit: $77,477
• Equity at exit: $373

10-year hold

• IRR: —
• Equity multiple: 253.12×
• Total profit: $176,483
• Equity at exit: $216

Cash invested: $700 (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 37601

• Home prices YoY: -21.4%
• Rents YoY: 4.9%
• Active inventory: 206
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $1,511 high
• Mortgage (P&I): −$13
• Tax est. 1.5%: −$3 /mo · $38/yr
• Insurance: −$1
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $1,177

Break-even live

Break-even rent $22

Max offer price $2,500

Occupancy floor 17%

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: $625
• Closing costs: $75
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
169 Grande Ave #100 heuristic Johnson City, TN	2.0	2.0	1080	$2,500	$2.31	25d	1	0.01mi
169 Grand Ave #101 heuristic Johnson City, TN	2.0	2.0	1080	$2,500	$2.31	25d	1	0.01mi
169 Grand Ave #300 heuristic Johnson City, TN	2.0	2.0	792	$2,500	$3.16	25d	1	0.01mi
169 Grande Ave #200 heuristic Johnson City, TN	2.0	2.0	1080	$2,500	$2.31	25d	1	0.01mi
169 Grand Ave #401 heuristic Johnson City, TN	2.0	2.0	792	$2,500	$3.16	25d	1	0.01mi
168 E Grande Ave Unit 04 Johnson City, TN	2.0	2.0	800	$1,350	$1.69	21d	1	0.08mi
1507 Linden St Unit 25 Johnson City, TN	2.0	1.5	1150	$1,125	$0.98	13d	1	0.21mi
716 King Springs Rd #5 Johnson City, TN	2.0	1.5	1500	$1,250	$0.83	44d	1	0.23mi
81 Charleston Sq Johnson City, TN	1.0–3.0	1.0–2.0	734	$1,182	$1.61	13d	4	0.72mi
1010 Buffalo St Unit 3 Johnson City, TN	2.0	1.0	861	$1,300	$1.51	43d	1	0.72mi
1319 Bell Ridge Rd Johnson City, TN	2.0–4.0	2.0	1204	$1,237	$1.03	21d	6	0.80mi
407 S Roan St Johnson City, TN	1.0	1.0	716	$1,250	$1.74	13d	2	0.82mi
704 Swadley Rd Johnson City, TN	2.0–3.0	1.5–3.5	1800	$1,400	$0.78	13d	2	0.82mi
606 Swadley Rd Johnson City, TN	1.0–2.0	1.0–2.5	1300	$1,700	$1.31	13d	1	0.85mi
2560 Plymouth Rd Johnson City, TN	2.0–3.0	2.0	1163	$980	$0.84	13d	1	0.88mi
404 W Maple St Unit 1 Johnson City, TN	2.0	1.0	1000	$1,050	$1.05	43d	1	0.89mi
512 Swadley Rd Johnson City, TN	2.0–4.0	2.0	1068	$1,165	$1.09	13d	6	0.91mi
116 E Market St Johnson City, TN	2.0	2.5	1249	$1,700	$1.36	13d	1	0.93mi
2610 Plymouth Rd Johnson City, TN	1.0–3.0	1.0–2.0	855	$1,288	$1.50	13d	6	0.95mi
1411 Saint Louis St Johnson City, TN	2.0	1.0	1100	$1,125	$1.02	43d	1	0.99mi
1700 Dave Buck Rd Johnson City, TN	2.0–3.0	2.0	1041	$1,370	$1.32	13d	4	1.05mi
616 W Maple St Unit 2 Johnson City, TN	2.0	1.0	925	$1,000	$1.08	43d	1	1.16mi
1400 Virginia St Unit 2 Johnson City, TN	2.0	1.0	1000	$925	$0.93	43d	1	1.16mi
701 W Locust St #22 Johnson City, TN	2.0	1.5	1141	$1,375	$1.21	43d	1	1.17mi
220 Highland Ave Unit 1397973P Johnson City, TN	2.0	1.0	925	$3,993	$4.32	13d	1	1.23mi
250 W Main St Apt 7 Johnson City, TN	1.0	1.0	700	$750	$1.07	13d	1	1.24mi
268 W Main St Unit WM-06 Johnson City, TN	2.0	1.0	960	$1,350	$1.41	13d	1	1.31mi
608 W Watauga Ave Unit 3 Johnson City, TN	2.0	1.5	1000	$1,200	$1.20	43d	1	1.32mi
405 W Watauga Ave Unit WAT-34 Johnson City, TN	1.0	1.0	872	$1,150	$1.32	43d	1	1.33mi
111 W Unaka Ave Apt 2 Johnson City, TN	2.0	1.5	1150	$1,450	$1.26	43d	1	1.37mi
703 E Unaka Ave Unit 1 Johnson City, TN	2.0	1.0	1421	$1,300	$0.91	43d	1	1.45mi
2723 S Roan St Unit 9 Johnson City, TN	2.0	1.5	1000	$1,015	$1.01	21d	1	1.49mi

Listing history 15 events

1. 2026-06-19
   days on market $2,500 Active 245 DOM
2. 2026-06-18
   days on market $2,500 Active 244 DOM
3. 2026-06-17
   days on market $2,500 Active 243 DOM
4. 2026-06-16
   days on market $2,500 Active 242 DOM
5. 2026-06-15
   days on market $2,500 Active 241 DOM
6. 2026-06-14
   days on market $2,500 Active 239 DOM
7. 2026-06-13
   days on market $2,500 Active 238 DOM
8. 2026-06-10
   days on market $2,500 Active 236 DOM
9. 2026-06-09
   days on market $2,500 Active 235 DOM
10. 2026-06-08
    days on market $2,500 Active 234 DOM
11. 2026-06-07
    days on market $2,500 Active 233 DOM
12. 2026-06-02
    days on market $2,500 Active 228 DOM
13. 2026-06-01
    days on market $2,500 Active 227 DOM
14. 2026-05-31
    days on market $2,500 Active 226 DOM
15. 2026-05-30
    days on market $2,500 Active 225 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 2/10 Low
• 🌡 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,137
• − Mortgage interest: −$140
• − Property taxes: −$38
• − Insurance: −$12
• − Repairs & maintenance: −$1,451
• − Management: −$1,451
• − Depreciation: −$73
• Taxable income: $14,972
• Est. tax owed @ 24.0%: −$3,593
• After-tax cash flow: $10,527/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: Johnson City
• NCES district ID: 4702130
• Math proficiency: 46% ▼ -14.00%
• Reading proficiency: 47% ▼ -2.00%
• Median HH income: $37,514
• Composite: 38.69/100
• National rank: #4143
• State rank: #9 of 139 in TN

Livability — Johnson City

• Score: 76/100
• State rank: #8
• US rank: #3349

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Johnson City, TN
• County: Washington County · 129,006 people
• City population: 99,926
• Metro: Johnson City, TN
• Population (ZIP): 38,008
• Household income: $50,686
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 1464.0

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 (82%)
• Race & ethnicity: White 82% Two or more races 7% Black 6% Hispanic / Latino 5% Asian 2%
• Common ancestry: Serbian 3% Slovak 2% Iranian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Arabic 1% Chinese 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: ▼ -79.16%
• Current HPI: 290.506
• Rent YoY: ▲ 4.88%
• 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

-99.6% since first listed

5 events — show timeline

• 2026-05-29 Relisted — TVRMLS
• 2026-04-24 Delisted — TVRMLS
• 2026-03-26 Price Changed $2,500 TVRMLS
• 2025-09-12 Listed $2,400 TVRMLS
• 2020-04-22 Sold (Public Records) $707,500 Public Records

Property tax history

+1.3%/yr

Latest (2025): $841 · +0.0% YoY. Source: county tax records.