1189 Wenna Way Way · Kingsport, TN 37664

$255,000

4 bd · 2.5 ba · 1,554 sqft · Townhouse · 59 Days on market

Built 2026 Good condition $135/mo HOA · 6% of rent ↓ 7% since listing

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Why this score? — see what drove the F 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 +7.9/30.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• 1% rule +3.0/10.0
• Schools +3.0/10.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Your new beginning starts at 1189 Wenna Way, part of the Arbor townhomes community in Kingsport, TN. This thoughtfully designed townhome offers 1,554 square feet of modern living space with 4 bedrooms and 2.5 bathrooms, combining functionality, style, and comfort in every detail. The main level features an open-concept layout with a bright living area that flows seamlessly into the kitchen and dining spaces perfect for entertaining or relaxing at home. A conveniently placed powder room and ample storage add to the home's practicality. Upstairs, the private primary suite includes an en-suite bathroom and a spacious closet for everyday convenience. Three additional bedrooms share a full bath, offering flexibility to have guests, a dedicated home office, or a study area. A centrally located laundry room on the second floor makes daily routines effortless. D. R. Horton is an Equal Housing Opportunity Builder. Home and community information, including pricing, included features, terms, availability and amenities, are subject to change and prior sale at any time without notice or obligation. Pictures, photographs, colors, features, and sizes are for illustration purposes only and will vary from the homes as built. Images may contain virtual staging.

Key facts

• Laundry room
• $135 HOA
• Garage

Tags

• LAUNDRY ROOM
• OFFICE OR STUDY SPACE
• 9FT CEILINGS ON FIRST FLOOR
• SHAKER STYLE CABINETRY
• MOEN CHROME PLUMBING FIXTURES
• ANTI-SCALD SHOWER VALVES

Property features AI

Finance

• Other: Subdivision: The Arbor
• HOA & community: Homeowners association with a $135 monthly fee

Exterior

• Parking: Attached garage with 1 garage space; Driveway; Garage door opener
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Residential townhouse; Two levels; New construction / Under construction; Planned unit development (PUD); Has home warranty; Faces unspecified direction
• Construction: Built with concrete, frame, stone, vinyl siding and other materials; Slab foundation
• Exterior features: Shingle roof; Level topography

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave
• Bedrooms: Total of 7 rooms (bedroom count not specified separately)
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Entrance foyer; Kitchen island; Open floorplan; Pantry; Walk-in closets; Double pane and insulated windows with window treatments
• Laundry & utility: Washer hookup; Electric dryer hookup

🏗️ New construction. The $255,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $281,274.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath townhouse listed at $255k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-296 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $238k (6.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $226k (11.5% below list).
• Recommended offer: $226k (11.5% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 3.8% in Kingsport — 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 71/100 on livability (#39 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities C-, crime F, commute F.
• Kingsport (urban): math 35% / reading 38% proficiency, ranked #26 of 139 in TN (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Andrew Johnson Elementary School (math 50% / reading 48%, grade D, #133 of 952 statewide, top 14%, 543 students, 0% FRL); Ross N. Robinson Middle School (math 42% / reading 40%, grade F, #37 of 333 statewide, top 12%, 955 students, 0% FRL); Dobyns - Bennett High School (math 23% / reading 56%, grade F, #28 of 332 statewide, top 9%, 2,514 students, 0% FRL) — zoned schools average 0% FRL vs 47% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.7%/yr); 267 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 43% of the median local income ($64k/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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($247k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $18k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $225,615 (11.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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. 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?
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: 0.80% ✗
• Cap rate: 5.03%
• Cash-on-cash: -4.52%
• DSCR: 0.80
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $281,274
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1149 Wenna Way Way	0.03mi	3/2.5 (-1)	1,381 (-11%)	1mo	$249,990	$181	74
1122 Wenna Way Way	0.06mi	3/2.5 (-1)	1,381 (-11%)	0mo	$248,990	$180	74
1157 Wenna Way Way	0.03mi	3/2.5 (-1)	1,381 (-11%)	2mo	$249,990	$181	74
1145 Wenna Way	0.03mi	3/2.5 (-1)	1,381 (-11%)	2mo	$239,000	$173	73
1161 Wenna Way	0.03mi	3/2.5 (-1)	1,381 (-11%)	3mo	$242,900	$176	73
1110 Wenna Way Way	0.06mi	3/2.5 (-1)	1,381 (-11%)	1mo	$254,990	$185	73
1153 Wenna Way	0.03mi	3/2.5 (-1)	1,381 (-11%)	3mo	$246,778	$179	73
1137 Wenna Way	0.04mi	3/2.5 (-1)	1,381 (-11%)	3mo	$252,000	$182	72
1146 Wenna Way	0.05mi	3/2.5 (-1)	1,381 (-11%)	3mo	$243,000	$176	72
1141 Wenna Way	0.04mi	3/2.5 (-1)	1,381 (-11%)	4mo	$249,990	$181	71
1129 Wenna Way	0.05mi	3/2.5 (-1)	1,381 (-11%)	5mo	$230,000	$167	70
1133 Wenna Way	0.05mi	3/2.5 (-1)	1,381 (-11%)	8mo	$265,990	$193	68

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 · 3.73% rent growth · sell at horizon

5-year hold

• IRR: -23.0%
• Equity multiple: 0.20×
• Total profit: $-62,674
• Equity at exit: $41,939

10-year hold

• IRR: -15.5%
• Equity multiple: 0.09×
• Total profit: $-71,462
• Equity at exit: $24,319

Cash invested: $78,757 (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 37664

• Home prices YoY: -24.5%
• Rents YoY: 3.7%
• Active inventory: 267
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,256 medium
• Mortgage (P&I): −$1,475
• Tax est. 1.5%: −$352 /mo · $4,219/yr
• Insurance: −$117
• HOA: −$135
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $-296

Break-even live

Break-even rent $2,631

Max offer price $238,375

Occupancy floor —

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: $70,318
• Closing costs: $8,438
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3711 Apple Grove Cir Kingsport, TN	4.0	2.5	2010	$2,200	$1.09	21d	1	0.62mi
3817 Rockford St Kingsport, TN	3.0	2.0	1616	$2,300	$1.42	21d	1	0.68mi
3005 Shipley St Kingsport, TN	3.0	1.0	2046	$1,800	$0.88	21d	1	1.21mi

HOA detail

• Monthly dues: $135 · $1,620/yr

Listing history 21 events

1. 2026-06-19
   days on market $255,000 Active 59 DOM
2. 2026-06-18
   days on market $255,000 Active 58 DOM
3. 2026-06-17
   days on market $255,000 Active 57 DOM
4. 2026-06-16
   days on market $255,000 Active 56 DOM
5. 2026-06-15
   days on market $255,000 Active 55 DOM
6. 2026-06-14
   days on market $255,000 Active 53 DOM
7. 2026-06-13
   days on market $255,000 Active 52 DOM
8. 2026-06-10
   days on market $255,000 Active 50 DOM
9. 2026-06-09
   days on market $255,000 Active 49 DOM
10. 2026-06-08
    days on market $255,000 Active 48 DOM
11. 2026-06-07
    days on market $255,000 Active 47 DOM
12. 2026-06-05
    days on market $255,000 Active 44 DOM
13. 2026-06-03
    days on market $255,000 Active 43 DOM
14. 2026-06-02
    days on market $255,000 Active 42 DOM
15. 2026-06-01
    days on market $255,000 Active 41 DOM
16. 2026-05-31
    days on market $255,000 Active 40 DOM
17. 2026-05-30
    days on market $255,000 Active 39 DOM
18. 2026-05-21
    price $255,000 1263-char remark

    Show marketing remark (1263 chars)

    Your new beginning starts at 1189 Wenna Way, part of the Arbor townhomes community in Kingsport, TN. This thoughtfully designed townhome offers 1,554 square feet of modern living space with 4 bedrooms and 2.5 bathrooms, combining functionality, style, and comfort in every detail. The main level features an open-concept layout with a bright living area that flows seamlessly into the kitchen and dining spaces perfect for entertaining or relaxing at home. A conveniently placed powder room and ample storage add to the home's practicality. Upstairs, the private primary suite includes an en-suite bathroom and a spacious closet for everyday convenience. Three additional bedrooms share a full bath, offering flexibility to have guests, a dedicated home office, or a study area. A centrally located laundry room on the second floor makes daily routines effortless. D. R. Horton is an Equal Housing Opportunity Builder. Home and community information, including pricing, included features, terms, availability and amenities, are subject to change and prior sale at any time without notice or obligation. Pictures, photographs, colors, features, and sizes are for illustration purposes only and will vary from the homes as built. Images may contain virtual staging.

19. 2026-05-20
    price $255,000
20. 2026-04-21
    listed $272,990 Active 1263-char remark

    Show marketing remark (1263 chars)

    Your new beginning starts at 1189 Wenna Way, part of the Arbor townhomes community in Kingsport, TN. This thoughtfully designed townhome offers 1,554 square feet of modern living space with 4 bedrooms and 2.5 bathrooms, combining functionality, style, and comfort in every detail. The main level features an open-concept layout with a bright living area that flows seamlessly into the kitchen and dining spaces perfect for entertaining or relaxing at home. A conveniently placed powder room and ample storage add to the home's practicality. Upstairs, the private primary suite includes an en-suite bathroom and a spacious closet for everyday convenience. Three additional bedrooms share a full bath, offering flexibility to have guests, a dedicated home office, or a study area. A centrally located laundry room on the second floor makes daily routines effortless. D. R. Horton is an Equal Housing Opportunity Builder. Home and community information, including pricing, included features, terms, availability and amenities, are subject to change and prior sale at any time without notice or obligation. Pictures, photographs, colors, features, and sizes are for illustration purposes only and will vary from the homes as built. Images may contain virtual staging.

21. 2026-04-21
    listed $272,990 Active

    Show marketing remark (1263 chars)

    Your new beginning starts at 1189 Wenna Way, part of the Arbor townhomes community in Kingsport, TN. This thoughtfully designed townhome offers 1,554 square feet of modern living space with 4 bedrooms and 2.5 bathrooms, combining functionality, style, and comfort in every detail. The main level features an open-concept layout with a bright living area that flows seamlessly into the kitchen and dining spaces perfect for entertaining or relaxing at home. A conveniently placed powder room and ample storage add to the home's practicality. Upstairs, the private primary suite includes an en-suite bathroom and a spacious closet for everyday convenience. Three additional bedrooms share a full bath, offering flexibility to have guests, a dedicated home office, or a study area. A centrally located laundry room on the second floor makes daily routines effortless. D. R. Horton is an Equal Housing Opportunity Builder. Home and community information, including pricing, included features, terms, availability and amenities, are subject to change and prior sale at any time without notice or obligation. Pictures, photographs, colors, features, and sizes are for illustration purposes only and will vary from the homes as built. Images may contain virtual staging.

ⓘ 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 5/10 Major 7 d/yr ≥100°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,074
• − Mortgage interest: −$15,756
• − Property taxes: −$4,219
• − Insurance: −$1,406
• − Repairs & maintenance: −$2,166
• − Management: −$2,166
• − HOA: −$1,620
• − Depreciation: −$8,183
• Taxable loss: −$8,442
• Est. tax savings @ 24.0%: +$2,026
• After-tax cash flow: $-1,532/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

Good 80/100 Cosmetic rehab

This well-maintained townhome in Kingsport, TN, offers a good condition with modern finishes and a good layout. It is ready for a new owner or tenant.

Value-add opportunities

• Resale Paint the stairs — Fresh paint can make a significant difference in curb appeal
• Rental Replace the carpet — Carpet can be worn and may need replacement for a more modern look

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the stairs — Fresh paint can make a significant difference in curb appeal ↑
• Rental Replace the carpet — Carpet can be worn and may need replacement for a more modern look ↑

ⓘ 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: Kingsport
• NCES district ID: 4702190
• Math proficiency: 35% ▼ -12.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $38,017
• Composite: 30.44/100
• National rank: #6233
• State rank: #26 of 139 in TN

Livability — Kingsport

• Score: 71/100
• State rank: #39
• US rank: #6587

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kingsport, TN
• County: Sullivan County · 121,987 people
• City population: 83,493
• Metro: Kingsport-Bristol, TN-VA
• Population (ZIP): 28,267
• Household income: $63,653
• Rent vs Own: 29.0% rent · 71.0% own
• Severe rent burden: 739.0

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 (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2% Black 1%
• Common ancestry: Serbian 4% Slovak 3% Italian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 98% English-only · Spanish 1% Chinese 1%

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: ▼ -85.12%
• Current HPI: 261.7474
• Rent YoY: ▲ 3.73%
• 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

-6.6% since first listed

4 events — show timeline

• 2026-05-21 Price Changed $255,000 Zillow
• 2026-05-20 Price Changed $255,000 TVRMLS
• 2026-04-21 Listed $272,990 Zillow
• 2026-04-21 Listed $272,990 TVRMLS