1242 Center St · Kingsport, TN 37660

$190,000

3 bd · 2.0 ba · 1,440 sqft · SingleFamily public records · 32 Days on market

Built 1932 4,356 sqft lot Est $245k · 22% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.5/30.0
• Rent growth +4.5/5.0
• DSCR +4.4/10.0
• Livability +3.6/5.0
• 1% rule +3.2/10.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all investors and flippers! This two-story Craftsman home features 3 bedrooms and 2 bathrooms and is located in a convenient Kingsport location, just minutes from downtown Kingsport, Dobyns-Bennett High School, shopping, restaurants, and more. The home offers tons of potential for the right buyer with some TLC—perfect for a renovation, flip, or rental investment. Classic Craftsman character paired with a functional layout makes this a great opportunity to add value. Property is being sold AS-IS, WHERE IS to settle an estate. All information is taken from third-party sources; buyer and buyer's agent to verify all information. Prime location. Solid opportunity. Endless potential.

Key facts

• Flex space
• Bonus room
• Spacious garage area

Tags

• POTENTIAL FOR A 4TH BEDROOM
• HOME OFFICE
• BONUS ROOM
• FLEX SPACE
• PLENTY OF STORAGE SPACE
• SPACIOUS GARAGE AREA

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Single-family residence; Two stories; Residential property
• Construction: Vinyl siding; Block foundation; Shingle roof; House structure
• Exterior features: Cleared, level lot; Garage(s); Storage

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: Not specified
• Flooring: Carpet; Hardwood; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Living room fireplace; Ceiling fans; 9 total rooms
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $41 ($491/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $155k (18.2% below list).
• Recommended offer: $155k (18.2% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: Abraham Lincoln Elementary School (math 27% / reading 27%, grade F, #496 of 952 statewide, top 55%, 399 students, 0% FRL); John Sevier Middle School (math 21% / reading 24%, grade F, #172 of 333 statewide, top 52%, 750 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 fast (+8.0%/yr); 240 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 38% of the median local income ($49k/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 $1k of loan paydown is wiped out by about $6k 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 32 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $95k; list at $190k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,339 (18.2% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1932 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.82% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.92%
• DSCR: 1.04
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $244,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1242 Center St	0.00mi	3/2.0	1,440 (0%)	4mo	$95,000	$66	96
1430 Valley St	0.08mi	3/2.0	1,555 (+8%)	2mo	$295,000	$190	81
1208 Garden Dr	0.13mi	3/2.0	1,335 (-7%)	2mo	$174,500	$131	80
605 Myrtle St	0.52mi	3/2.0	1,430 (-1%)	5mo	$234,000	$164	70
1312 Pineola Ave	0.38mi	3/1.5	1,378 (-4%)	7mo	$227,000	$165	67
1412 Wabash St	0.07mi	3/1.0	1,233 (-14%)	4mo	$120,000	$97	65
1154 Catawba St	0.35mi	3/1.0	1,294 (-10%)	0mo	$220,000	$170	63
1312 Post St	0.41mi	3/2.0	1,606 (+12%)	1mo	$309,000	$192	61
909 Poplar St	0.54mi	3/2.0	1,332 (-8%)	2mo	$246,000	$185	61
809 Birch St	0.37mi	3/2.0	1,245 (-14%)	0mo	$223,500	$180	60
513 Granada Pvt Ct	0.56mi	2/1.0 (-1)	1,314 (-9%)	6mo	$217,000	$165	45
1557 Greenfield Ave	0.73mi	3/2.0	1,236 (-14%)	7mo	$215,000	$174	37

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 · 7.95% rent growth · sell at horizon

5-year hold

• IRR: -9.9%
• Equity multiple: 0.62×
• Total profit: $-20,112
• Equity at exit: $28,330

10-year hold

• IRR: 4.8%
• Equity multiple: 1.42×
• Total profit: $22,557
• Equity at exit: $16,428

Cash invested: $53,200 (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 37660

• Home prices YoY: -24.2%
• Rents YoY: 8.0%
• Active inventory: 240
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,553 high
• Mortgage (P&I): −$996
• Tax from tax record: −$111 /mo · $1,328/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $41

Break-even live

Break-even rent $1,502

Max offer price $190,000

Occupancy floor 92%

Sensitivity live

Price	-10% $149	-5% $95	+0% $41	+5% $-13	+10% $-67
Rent	-10% $-82	-5% $-20	+0% $41	+5% $102	+10% $164
Rate	-1.0pp $137	-0.5pp $89	base $41	+0.5pp $-8	+1.0pp $-58

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1233 E Center St Unit B Kingsport, TN	3.0	1.0	1000	$1,195	$1.20	15d	1	0.06mi
1232 Garden Dr Kingsport, TN	3.0	1.0	900	$1,400	$1.56	23d	1	0.20mi
1304 Holyoke St Unit 9 Kingsport, TN	2.0	1.0	900	$950	$1.06	23d	1	0.28mi
650 N Wilcox Dr Kingsport, TN	2.0	2.0	936	$1,187	$1.27	15d	2	0.37mi
453 E Main St Kingsport, TN	2.0	2.0	1350	$2,875	$2.13	23d	1	0.85mi
453 E Main St Unit 900 Kingsport, TN	2.0	2.0	1247	$2,240	$1.80	23d	1	0.85mi
453 E Main St #400 Kingsport, TN	2.0	2.0	1292	$2,220	$1.72	23d	1	0.85mi
453 E Main St Unit 700 Kingsport, TN	2.0	2.0	1292	$2,252	$1.74	23d	1	0.85mi
453 E Main St #300 Kingsport, TN	2.0	2.0	1292	$2,172	$1.68	23d	1	0.85mi
1630 Park St Kingsport, TN	2.0	1.0	896	$1,200	$1.34	15d	1	0.91mi
116 E Market St Unit 4 Kingsport, TN	2.0	1.0	1090	$1,395	$1.28	23d	1	0.98mi
109 W Wanola Ave Kingsport, TN	3.0	2.0	1600	$2,300	$1.44	15d	1	1.01mi
206 Hammond Ave Kingsport, TN	3.0	1.0	1696	$1,525	$0.90	23d	1	1.34mi
455 W Sullivan St Kingsport, TN	1.0–3.0	1.0–2.0	988	$1,954	$1.98	15d	16	1.34mi
1018 Konnarock Rd Kingsport, TN	2.0	1.5	1050	$1,150	$1.10	23d	1	1.46mi
1024 Konnarock Rd Kingsport, TN	2.0	1.5	1050	$1,150	$1.10	23d	1	1.47mi
124 Bloomingdale Pike Kingsport, TN	1.0–2.0	1.0–1.5	878	$1,300	$1.48	15d	1	1.48mi

Listing history 17 events

1. 2026-06-10
   days on market $190,000 Active 32 DOM
2. 2026-06-09
   days on market $190,000 Active 31 DOM
3. 2026-06-08
   days on market $190,000 Active 30 DOM
4. 2026-06-07
   days on market $190,000 Active 29 DOM
5. 2026-06-05
   days on market $190,000 Active 26 DOM
6. 2026-06-03
   days on market $190,000 Active 25 DOM
7. 2026-06-02
   days on market $190,000 Active 24 DOM
8. 2026-06-01
   days on market $190,000 Active 23 DOM
9. 2026-05-31
   days on market $190,000 Active 22 DOM
10. 2026-05-30
    days on market $190,000 Active 21 DOM
11. 2026-05-09
    listed $190,000 Active
12. 2026-02-12
    soldstatus $95,000
13. 2026-02-10
    soldstatus $95,000 Closed 701-char remark

    Show marketing remark (701 chars)

    Calling all investors and flippers! This two-story Craftsman home features 3 bedrooms and 2 bathrooms and is located in a convenient Kingsport location, just minutes from downtown Kingsport, Dobyns-Bennett High School, shopping, restaurants, and more. The home offers tons of potential for the right buyer with some TLC—perfect for a renovation, flip, or rental investment. Classic Craftsman character paired with a functional layout makes this a great opportunity to add value. Property is being sold AS-IS, WHERE IS to settle an estate. All information is taken from third-party sources; buyer and buyer's agent to verify all information. Prime location. Solid opportunity. Endless potential.

14. 2026-01-30
    historical Active Under Contract 701-char remark

    Show marketing remark (701 chars)

    Calling all investors and flippers! This two-story Craftsman home features 3 bedrooms and 2 bathrooms and is located in a convenient Kingsport location, just minutes from downtown Kingsport, Dobyns-Bennett High School, shopping, restaurants, and more. The home offers tons of potential for the right buyer with some TLC—perfect for a renovation, flip, or rental investment. Classic Craftsman character paired with a functional layout makes this a great opportunity to add value. Property is being sold AS-IS, WHERE IS to settle an estate. All information is taken from third-party sources; buyer and buyer's agent to verify all information. Prime location. Solid opportunity. Endless potential.

15. 2026-01-29
    listed $139,000 Active 701-char remark

    Show marketing remark (701 chars)

    Calling all investors and flippers! This two-story Craftsman home features 3 bedrooms and 2 bathrooms and is located in a convenient Kingsport location, just minutes from downtown Kingsport, Dobyns-Bennett High School, shopping, restaurants, and more. The home offers tons of potential for the right buyer with some TLC—perfect for a renovation, flip, or rental investment. Classic Craftsman character paired with a functional layout makes this a great opportunity to add value. Property is being sold AS-IS, WHERE IS to settle an estate. All information is taken from third-party sources; buyer and buyer's agent to verify all information. Prime location. Solid opportunity. Endless potential.

16. 1982-01-01
    soldstatus $18,500
17. 1978-01-19
    soldstatus $16,000

ⓘ 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: $1,328 · $111/mo
• Projected year-2 tax: $1,349 · $112/mo
• Expected delta: +$21/yr (+$2/mo · 1.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 20 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: $18,641
• − Mortgage interest: −$10,643
• − Property taxes: −$1,328
• − Insurance: −$950
• − Repairs & maintenance: −$1,491
• − Management: −$1,491
• − Depreciation: −$5,527
• Taxable loss: −$2,790
• Est. tax savings @ 24.0%: +$670
• After-tax cash flow: $1,161/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: 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): 40,996
• Household income: $49,191
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 1384.0

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 (88%)
• Race & ethnicity: White 88% Two or more races 4% Black 4% Hispanic / Latino 3%
• Common ancestry: Serbian 3% Slovak 3% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% 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: ▼ -80.93%
• Current HPI: 252.9821
• Rent YoY: ▲ 7.95%
• 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

+1087.5% since first listed

7 events — show timeline

• 2026-05-09 Listed $190,000 TVRMLS
• 2026-02-12 Sold (Public Records) $95,000 Public Records
• 2026-02-10 Sold (MLS) $95,000 TVRMLS
• 2026-01-30 Contingent — TVRMLS
• 2026-01-29 Listed $139,000 TVRMLS
• 1982-01-01 Sold (Public Records) $18,500 Public Records
• 1978-01-19 Sold (Public Records) $16,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $1,328 · +43.3% YoY. Source: county tax records.