1900 Knob Creek Rd #402 · Johnson City, TN 37604

$1,800

2 bd · 2.5 ba · 1,280 sqft · SingleFamily · 10 Days on market

Built 2016 $160/mo HOA · 10% of rent

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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 +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful Condo in Prime Johnson City Location! Conveniently located off Knob Creek in the heart of Johnson City, this spacious condo offers low-maintenance living with high-end finishes. Step inside to an open floor plan featuring granite countertops, stainless steel appliances, crown molding, and nine-foot ceilings. The living room is warm and inviting with a beautiful tumbled travertine fireplace--a perfect focal point for cozy evenings. The main level also includes a laundry area and a half bath for guests. Each of the two generously sized bedrooms has its own private bath--one with a walk-in shower and the other with a tub--plus walk-in closets for ample storage. Enjoy your morning co

Key facts

• Open floor plan
• Covered back deck
• Granite countertops

Tags

• OPEN FLOOR PLAN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• CROWN MOLDING
• TUMBLED TRAVERTINE FIREPLACE
• COVERED BACK DECK

Property features AI

Finance

• Other: Subdivision: The Villas At Knob Creek Ph 2
• HOA & community: Homeowners association with landscaping; Association fee of $160

Exterior

• Parking: Deeded garage; 1-car garage
• Utilities: Public water; Public sewer
• Home design: House; Two levels; Residential property; Shingle roof; Construction: Brick, stone, and vinyl siding; Concrete perimeter foundation
• Construction: Built with brick, stone, and vinyl siding; Concrete perimeter foundation; Shingle roof
• Exterior features: Balcony; Covered patio/porch; Level topography

Interior

• Kitchen: Dishwasher; Microwave; Range
• Flooring: Carpet; Hardwood
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Heat pump; Ceiling fan(s); Fireplace heating
• Interior features: Eat-in kitchen; Granite counters; Open floorplan; Walk-in closet(s); Double pane windows; Living room fireplace
• Laundry & utility: Washer hookup; Basement with concrete construction

🏷️ Possibly a rental listed for sale. The $1,800 price doesn't fit this home's estimated sale value (~$268,800) 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/2.5-bath single-family listed at $2k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $2k).
• Cap rate 710.8% 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: Woodland Elementary (math 52% / reading 62%, grade C+, #75 of 952 statewide, top 8%, 522 students, 0% FRL); Indian Trail Middle School (math 48% / reading 43%, grade D+, #28 of 333 statewide, top 8%, 808 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 (+1.5%/yr); 207 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 1,155 units permitted in Washington County in 2024 (437 in 5+ unit buildings).
• This rent runs 36% of the median local income ($52k/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 $12 of loan paydown is wiped out by about $54 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 + 1.5% rent growth), your $504 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $1,800

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 86.44% ✓
• Cap rate: 710.79%
• Cash-on-cash: 2516.06%
• DSCR: 112.95
• GRM: 0.1

CMA / ARV

• ARV (on-the-fly): $268,800
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1900 Knob Creek Rd #403	0.03mi	2/2.5	1,200 (-6%)	6mo	$1,700	$1	83
1900 Knob Creek Road Rd #408	0.03mi	2/2.5	1,200 (-6%)	7mo	$1,700	$1	82
1900 Knob Creek Road Rd #401	0.03mi	2/2.5	1,200 (-6%)	7mo	$1,700	$1	82
2107 Valley Lane Ln	0.21mi	2/2.0	1,451 (+13%)	4mo	$305,000	$210	63
1108 Estate Dr	0.54mi	2/2.0	1,114 (-13%)	10mo	$247,750	$222	43
515 Ravenwood Dr	0.64mi	3/2.0 (+1)	1,467 (+15%)	3mo	$360,000	$245	36

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 · 1.51% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 129.64×
• Total profit: $64,836
• Equity at exit: $268

10-year hold

• IRR: —
• Equity multiple: 267.80×
• Total profit: $134,465
• Equity at exit: $156

Cash invested: $504 (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 37604

• Home prices YoY: -26.1%
• Rents YoY: 1.5%
• Active inventory: 207
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $1,556 high
• Mortgage (P&I): −$9
• Tax est. 1.5%: −$2 /mo · $27/yr
• Insurance: −$1
• HOA: −$160
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $1,057

Break-even live

Break-even rent $218

Max offer price $1,800

Occupancy floor 27%

Sensitivity live

Price	-10% $1,058	-5% $1,057	+0% $1,057	+5% $1,056	+10% $1,056
Rent	-10% $934	-5% $995	+0% $1,057	+5% $1,118	+10% $1,180
Rate	-1.0pp $1,058	-0.5pp $1,057	base $1,057	+0.5pp $1,056	+1.0pp $1,056

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: $450
• Closing costs: $54
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
234 Mockingbird Ln Johnson City, TN	1.0–2.0	1.0–1.5	852	$1,419	$1.67	14d	3	0.52mi
722 Liberty Bell Blvd Unit 1397962P Johnson City, TN	2.0	1.5	1194	$3,434	$2.88	14d	1	0.59mi
1408 Knob Creek Rd Unit 7 Johnson City, TN	2.0	1.0	949	$1,250	$1.32	44d	1	0.82mi
1220 Knob Creek Rd Unit 18 Johnson City, TN	2.0	1.5	1200	$1,200	$1.00	14d	1	0.99mi
2001 Indian Ridge Rd Johnson City, TN	3.0	1.0	1236	$1,800	$1.46	14d	1	0.99mi
1107 Miller St Johnson City, TN	3.0	1.0	980	$1,700	$1.73	44d	1	1.04mi
2522 Browns Mill Ct Johnson City, TN	3.0	1.0	1320	$1,700	$1.29	14d	1	1.07mi
923 E Hillcrest Dr Unit 2 Johnson City, TN	2.0	1.0	1100	$1,500	$1.36	14d	1	1.20mi
1005 N Barton St Johnson City, TN	3.0	1.0	896	$1,650	$1.84	44d	1	1.34mi
2614 Mimosa Ln Johnson City, TN	3.0	2.0	1422	$2,000	$1.41	44d	1	1.34mi
901 Johnson Ave Johnson City, TN	3.0	2.0	1670	$1,850	$1.11	21d	1	1.40mi
611 E Mountcastle Dr Unit 4 Johnson City, TN	2.0	1.5	1200	$1,400	$1.17	14d	1	1.41mi
1062 W Oakland Ave Johnson City, TN	1.0–3.0	1.0–2.0	1222	$1,959	$1.60	14d	23	1.49mi

HOA detail

• Monthly dues: $160 · $1,920/yr

Listing history 9 events

1. 2026-06-19
   days on market $1,800 Active 10 DOM
2. 2026-06-18
   days on market $1,800 Active 9 DOM
3. 2026-06-17
   days on market $1,800 Active 8 DOM
4. 2026-06-16
   days on market $1,800 Active 7 DOM
5. 2026-06-15
   days on market $1,800 Active 6 DOM
6. 2026-06-14
   days on market $1,800 Active 4 DOM
7. 2026-06-13
   days on market $1,800 Active 3 DOM
8. 2026-06-10
   remarks 699-char remark
9. 2026-06-10
   listed $1,800 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°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: $18,671
• − Mortgage interest: −$101
• − Property taxes: −$27
• − Insurance: −$9
• − Repairs & maintenance: −$1,494
• − Management: −$1,494
• − HOA: −$1,920
• − Depreciation: −$52
• Taxable income: $13,575
• Est. tax owed @ 24.0%: −$3,258
• After-tax cash flow: $9,423/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): 39,097
• Household income: $52,345
• Rent vs Own: 49.7% rent · 50.3% own
• Severe rent burden: 2254.0

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 (83%)
• Race & ethnicity: White 83% Hispanic / Latino 6% Black 6% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 3% Serbian 3% Italian 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 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: ▼ -97.73%
• Current HPI: 277.1137
• Rent YoY: ▲ 1.51%
• 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

• 2026-06-09 Listed $1,800 TVRMLS