184 Harmony Rd · Fall Branch, TN 37659

$70,000

2 bd · 1.0 ba · 644 sqft · Manufactured public records · 6 Days on market

Built 1980 0.51 ac lot

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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
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable opportunity in Jonesborough! This 2-bedroom, 1-bath mobile home offers comfortable living. New flooring recently installed. Whether you're looking for a primary residence, rental property, or investment opportunity, this home has plenty of potential. As an added bonus, the two adjoining lots (one with a double wide) are also available for purchase, providing additional space, privacy, or future development possibilities. Don't miss this unique opportunity! Information taken from 3rd party sources, it is the buyer's responsibility to verify.

Key facts

• New flooring
• Two adjoining lots
• 0.51 acre lot

Tags

• NEW FLOORING
• TWO ADJOINING LOTS

Property features AI

Exterior

• Utilities: Private well water; Septic tank sewer
• Home design: Manufactured house; Single wide body type; One story
• Construction: Aluminum siding; Metal roof; Other foundation
• Exterior features: Front porch; Shed(s); Rolling slope topography

Interior

• Kitchen: Electric range; Refrigerator
• Flooring: Laminate
• Bathrooms: One full bathroom
• Heating & cooling: Heat pump heating; Heat pump cooling
• Interior features: Electric range; Refrigerator; Laminate flooring; Five total rooms
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $483 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 14.6% vs local median 2.5% in Fall Branch — 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 65/100 on livability (#154 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing B+; Watch: amenities F, commute F, employment F.
• Washington County (suburban): math 26% / reading 34% proficiency, ranked #54 of 139 in TN (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sulphur Springs Elementary (math 22% / reading 26%, grade F, #584 of 952 statewide, top 62%, 375 students, 0% FRL); Daniel Boone High School (math 23% / reading 46%, grade F, #41 of 332 statewide, top 15%, 1,211 students, 0% FRL) — zoned schools average 0% FRL vs 41% district-wide (41 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 312 active listings in the ZIP; 1,155 units permitted in Washington County in 2024 (437 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.75% ✓
• Cap rate: 14.57%
• Cash-on-cash: 29.56%
• DSCR: 2.32
• GRM: 4.8

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: 24.1%
• Equity multiple: 1.99×
• Total profit: $19,421
• Equity at exit: $10,437

10-year hold

• IRR: 31.9%
• Equity multiple: 3.89×
• Total profit: $56,576
• Equity at exit: $6,052

Cash invested: $19,600 (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 37659

• Home prices YoY: -19.7%
• Active inventory: 312
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,223 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $483

Break-even live

Break-even rent $612

Max offer price $70,000

Occupancy floor 56%

Sensitivity live

Price	-10% $531	-5% $507	+0% $483	+5% $459	+10% $434
Rent	-10% $386	-5% $434	+0% $483	+5% $531	+10% $579
Rate	-1.0pp $518	-0.5pp $501	base $483	+0.5pp $465	+1.0pp $446

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   status $70,000 Pending 6 DOM
2. 2026-06-17
   days on market $70,000 Active 6 DOM
3. 2026-06-16
   days on market $70,000 Active 5 DOM
4. 2026-06-15
   days on market $70,000 Active 4 DOM
5. 2026-06-14
   days on market $70,000 Active 2 DOM
6. 2026-06-13
   remarks 557-char remark
7. 2026-06-13
   listed $70,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 21 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: $14,681
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,174
• − Management: −$1,174
• − Depreciation: −$2,036
• Taxable income: $4,974
• Est. tax owed @ 24.0%: −$1,194
• After-tax cash flow: $4,599/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: Washington County
• NCES district ID: 4704380
• Math proficiency: 26% ▼ -21.00%
• Reading proficiency: 34% ▼ -11.00%
• Median HH income: $46,542
• Composite: 25.85/100
• National rank: #7350
• State rank: #54 of 139 in TN

Livability — Fall Branch

• Score: 65/100
• State rank: #154
• US rank: #13417

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Washington County · 129,006 people
• Metro: Johnson City, TN
• Population (ZIP): 29,080
• Household income: $71,110
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 310.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 3% Asian 2% Black 1%
• Common ancestry: Italian 3% Serbian 3% Slovak 2%
• Foreign-born: 3% · South Korea, Canada
• Languages at home: 96% English-only · Spanish 1% Korean 1% Other Asian/Pacific 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: ▼ -73.31%
• Current HPI: 298.6464
• Rent YoY: —
• 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

1 event — show timeline

• 2026-06-11 Listed $70,000 TVRMLS

Property tax history

+3.5%/yr

Latest (2025): $122 · +0.0% YoY. Source: county tax records.