229 Carver St · Kingsport, TN 37660

$70,000

3 bd · 2.0 ba · 1,040 sqft · SingleFamily public records · 98 Days on market

Built 1942 7,405 sqft 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
• Rent growth +4.5/5.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fixer upper home for sale as is. Investor fix and flip potential. Needs work / Renovation.

Key facts

• Near schools
• Large yard
• Near local amenities

Tags

• LARGE YARD
• WELL-EQUIPPED KITCHEN
• COMFORTABLE LIVING AREA
• NEAR LOCAL AMENITIES
• NEAR SCHOOLS

Property features AI

Finance

• Other: Lot size approximately 0.17 acres
• HOA & community: Pets allowed

Exterior

• Utilities: Public water; Public sewer; Water available
• Home design: Single-family residence; One story
• Construction: Wood siding; Slab foundation; Existing (year built not specified)
• Exterior features: Smart lighting

Interior

• Kitchen: Cooktop; Dishwasher; Freezer
• Bedrooms: 3 bedrooms (all on main level)
• Flooring: Carpet; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Open floor plan; Pantry; Extra closets; Walk-in closet(s)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $901 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 21.7% 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); 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); 242 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 ($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 $484 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,700 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
8. 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.
9. 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: 2.50% ✓
• Cap rate: 21.74%
• Cash-on-cash: 55.17%
• DSCR: 3.45
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $187,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
746 Myrtle St	0.54mi	2/2.0 (-1)	1,032 (-1%)	3mo	$203,250	$197	66
1267 Chestnut St	0.53mi	3/2.0	1,028 (-1%)	10mo	$196,000	$191	65
1005 Maple St	0.35mi	2/2.0 (-1)	980 (-6%)	7mo	$229,000	$234	63
954 Maple St	0.32mi	3/1.0	1,136 (+9%)	8mo	$205,000	$180	58
1222 Chestnut St	0.45mi	3/2.0	1,128 (+8%)	8mo	$215,000	$191	58
1006 Myrtle St	0.47mi	2/1.0 (-1)	1,112 (+7%)	5mo	$73,000	$66	54
1234 Center St	0.69mi	3/2.0	1,100 (+6%)	7mo	$190,000	$173	52
1228 Garden Dr	0.67mi	3/1.0	1,087 (+4%)	7mo	$185,000	$170	51
1238 Holyoke St	0.63mi	2/1.0 (-1)	1,054 (+1%)	10mo	$160,000	$152	51
1318 Willow St	0.64mi	3/1.0	1,130 (+9%)	6mo	$198,453	$176	47
1237 Holyoke St	0.61mi	2/1.0 (-1)	942 (-9%)	7mo	$110,000	$117	41
810 Lamont St	0.72mi	2/1.0 (-1)	936 (-10%)	3mo	$175,000	$187	38

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: 59.0%
• Equity multiple: 3.82×
• Total profit: $55,230
• Equity at exit: $10,437

10-year hold

• IRR: 65.5%
• Equity multiple: 9.35×
• Total profit: $163,731
• 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 37660

• Home prices YoY: -24.2%
• Rents YoY: 8.0%
• Active inventory: 242
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,751 high
• Mortgage (P&I): −$367
• Tax from tax record: −$86 /mo · $1,033/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $901

Break-even live

Break-even rent $611

Max offer price $70,000

Occupancy floor 44%

Sensitivity live

Price	-10% $941	-5% $921	+0% $901	+5% $881	+10% $861
Rent	-10% $763	-5% $832	+0% $901	+5% $970	+10% $1,039
Rate	-1.0pp $936	-0.5pp $919	base $901	+0.5pp $883	+1.0pp $864

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: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
555 E Main St Unit 211 Kingsport, TN	2.0	1.0	700	$1,000	$1.43	14d	1	0.32mi
650 N Wilcox Dr Kingsport, TN	2.0	2.0	936	$1,187	$1.27	14d	2	0.37mi
453 E Main St Kingsport, TN	2.0	2.0	1350	$2,875	$2.13	22d	1	0.37mi
453 E Main St Unit 900 Kingsport, TN	2.0	2.0	1247	$2,240	$1.80	22d	1	0.37mi
453 E Main St #400 Kingsport, TN	2.0	2.0	1292	$2,220	$1.72	22d	1	0.37mi
453 E Main St Unit 700 Kingsport, TN	2.0	2.0	1292	$2,252	$1.74	22d	1	0.37mi
453 E Main St #300 Kingsport, TN	2.0	2.0	1292	$2,172	$1.68	22d	1	0.37mi
116 E Market St Unit 4 Kingsport, TN	2.0	1.0	1090	$1,395	$1.28	22d	1	0.63mi
1233 E Center St Unit B Kingsport, TN	3.0	1.0	1000	$1,195	$1.20	14d	1	0.66mi
1232 Garden Dr Kingsport, TN	3.0	1.0	900	$1,400	$1.56	22d	1	0.68mi
1304 Holyoke St Unit 9 Kingsport, TN	2.0	1.0	900	$950	$1.06	22d	1	0.69mi
455 W Sullivan St Kingsport, TN	1.0–3.0	1.0–2.0	988	$1,954	$1.98	14d	16	1.12mi
1535 Fort Henry Dr Kingsport, TN	1.0–2.0	1.0	703	$1,000	$1.42	22d	1	1.15mi

Listing history 6 events

1. 2026-05-24
   status Active
2. 2026-04-15
   price $70,000
3. 2026-04-02
   status Active
4. 2026-01-31
   price $80,000
5. 2026-01-06
   listed $89,500 Active
6. 2024-04-08
   soldstatus $188,175

ⓘ 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: $1,033 · $86/mo
• Projected year-2 tax: $1,033 · $86/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $21,014
• − Mortgage interest: −$3,921
• − Property taxes: −$1,033
• − Insurance: −$350
• − Repairs & maintenance: −$1,681
• − Management: −$1,681
• − Depreciation: −$2,036
• Taxable income: $10,311
• Est. tax owed @ 24.0%: −$2,475
• After-tax cash flow: $8,338/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

-62.8% since first listed

6 events — show timeline

• 2026-05-24 Relisted — REALTRACS as Distributed by MLS Grid
• 2026-04-15 Price Changed $70,000 REALTRACS as Distributed by MLS Grid
• 2026-04-02 Relisted — REALTRACS as Distributed by MLS Grid
• 2026-01-31 Price Changed $80,000 REALTRACS as Distributed by MLS Grid
• 2026-01-06 Listed $89,500 REALTRACS as Distributed by MLS Grid
• 2024-04-08 Sold (Public Records) $188,175 Public Records

Property tax history

-0.2%/yr

Latest (2025): $1,033 · +39.2% YoY. Source: county tax records.