1131 Berry Rd · Elizabethton, TN 37643

$194,500

2 bd · 1.0 ba · 1,098 sqft · SingleFamily public records · 42 Days on market

Built 1958 0.43 ac lot Est $224k · 13% 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).

• Cash flow +24.6/30.0
• ARV discount +13.4/15.0
• DSCR +8.0/10.0
• 1% rule +5.3/10.0
• Livability +3.3/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This charming one-level home in the desirable East Side community has been fully remodeled and is just minutes from schools and town. This home provides move-in ready comfort with a new roof, fresh paint, new flooring, updated lighting, and modern hardware that require no immediate repairs or upgrades. A detached garage offers secure parking and extra storage or workshop space. This home is ideal for first-time buyers or downsizers. Schedule your showing today because homes in this price range get scooped up quick! Buyer and buyer's agent to verify all information.

Key facts

• Fully remodeled
• Fresh paint
• Modern hardware

Tags

• FULLY REMODELED
• NEW ROOF
• FRESH PAINT
• NEW FLOORING
• UPDATED LIGHTING
• MODERN HARDWARE

Property features AI

Exterior

• Parking: Detached driveway garage; 1 garage space
• Utilities: Public water; Public sewer; Electricity connected; Water connected
• Home design: Single family residence; One story
• Construction: Vinyl siding; Metal roof
• Exterior features: Front porch; Porch; Level and sloped topography; Garage(s), storage, and workshop on the property

Interior

• Kitchen: Electric range; Dishwasher; Refrigerator
• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Heat pump; Fireplace heating option; Central air; Ceiling fan(s)
• Interior features: Fireplace in the den/living room; Updated/remodeled condition
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $194k.

Deal economics

• At list price, monthly cash flow is $404 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $194k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.7% in Elizabethton — 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 66/100 on livability (#121 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime A-; Watch: amenities F, commute F, employment F.
• Elizabethton (suburban): math 36% / reading 35% proficiency, ranked #35 of 139 in TN (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: East Side Elementary (math 32% / reading 32%, grade F, #369 of 952 statewide, top 42%, 491 students, 0% FRL); T A Dugger Junior High School (math 42% / reading 28%, grade F, #65 of 333 statewide, top 20%, 633 students, 0% FRL); Elizabethton High School (math 17% / reading 41%, grade F, #92 of 332 statewide, top 28%, 863 students, 0% FRL) — zoned schools average 0% FRL vs 43% district-wide (43 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 173 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 184 units permitted in Carter County in 2024 (0 in 5+ unit buildings).

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.
• Carter County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $59k; list at $194k implies a 230% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $188,665 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — 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. 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: 1.03% ✓
• Cap rate: 8.78%
• Cash-on-cash: 8.90%
• DSCR: 1.40
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $223,992
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1131 Berry Rd	0.00mi	2/1.0	1,098 (0%)	1mo	$192,000	$175	100
1119 Ledford St	0.11mi	3/1.0 (+1)	1,044 (-5%)	5mo	$220,000	$211	77
1521 Siam Rd	0.24mi	2/2.0	1,120 (+2%)	10mo	$150,000	$134	73
1315 Lowe St	0.30mi	3/1.0 (+1)	1,056 (-4%)	8mo	$210,000	$199	68
904 Walker St	0.39mi	2/1.0	1,000 (-9%)	5mo	$220,000	$220	63
214 Old Siam Rd	0.23mi	2/1.0	988 (-10%)	12mo	$224,000	$227	62
1013 Siam Rd	0.31mi	3/2.0 (+1)	1,188 (+8%)	1mo	$160,000	$135	62
1004 Dejarnette St	0.49mi	3/2.0 (+1)	1,141 (+4%)	4mo	$232,900	$204	58
450 Riverside Dr	0.66mi	2/2.0	1,142 (+4%)	1mo	$225,000	$197	57
1005 Dejarnette St	0.51mi	2/1.0	980 (-11%)	9mo	$255,000	$260	51
816 Riverview Dr	0.41mi	3/1.5 (+1)	1,260 (+15%)	2mo	$257,500	$204	48
905 Central Ave	0.52mi	3/2.0 (+1)	1,200 (+9%)	11mo	$269,000	$224	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-5,866
• Equity at exit: $29,001

10-year hold

• IRR: 6.8%
• Equity multiple: 1.51×
• Total profit: $27,719
• Equity at exit: $16,817

Cash invested: $54,460 (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 37643

• Home prices YoY: -19.3%
• Active inventory: 173
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$1,020
• Tax from tax record: −$75 /mo · $901/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $404

Break-even live

Break-even rent $1,489

Max offer price $194,500

Occupancy floor 75%

Sensitivity live

Price	-10% $514	-5% $459	+0% $404	+5% $349	+10% $294
Rent	-10% $246	-5% $325	+0% $404	+5% $483	+10% $562
Rate	-1.0pp $502	-0.5pp $453	base $404	+0.5pp $353	+1.0pp $302

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: $48,625
• Closing costs: $5,835
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 Ingram St Elizabethton, TN	3.0	2.0	1500	$2,000	$1.33	14d	1	0.40mi

Listing history 9 events

1. 2026-04-28
   status Pending
2. 2026-04-23
   price $194,500
3. 2026-04-06
   price $199,000
4. 2026-04-02
   price $209,000
5. 2026-03-26
   price $214,000
6. 2026-03-17
   listed $219,000 Active
7. 2026-01-22
   soldstatus $59,000
8. 2018-05-11
   soldstatus $44,900
9. 1999-04-08
   soldstatus $30,000

ⓘ 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: $901 · $75/mo
• Projected year-2 tax: $1,381 · $115/mo
• Expected delta: +$480/yr (+$40/mo · 53.3%)

ⓘ 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 4/10 Moderate 7 d/yr ≥97°F today · 18 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: $24,000
• − Mortgage interest: −$10,895
• − Property taxes: −$901
• − Insurance: −$972
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$5,658
• Taxable income: $1,733
• Est. tax owed @ 24.0%: −$416
• After-tax cash flow: $4,431/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: Elizabethton
• NCES district ID: 4701110
• Math proficiency: 36% ▼ -12.00%
• Reading proficiency: 35% ▼ -8.00%
• Median HH income: $30,800
• Composite: 28.94/100
• National rank: #6630
• State rank: #35 of 139 in TN

Livability — Elizabethton

• Score: 66/100
• State rank: #121
• US rank: #11785

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elizabethton, TN
• City population: 513
• Population (ZIP): 33,690

Population outlook (Carter County) Hauer SSP2

• Today (2025): 54,493 people
• By 2030: 52,639 · -3.4%
• By 2040: 47,929 · -12.0%
• By 2050: 42,877 · -21.3%
• By 2075: 31,487 · -42.2%
• By 2100: 21,979 · -59.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Carter

• 2024 margin: Solid R (+63.2) · D 17.9% · R 81.2%
• 2008→2024 swing: -16.1pp toward R · 2008: -47.2pp · 2024: -63.2pp
• All cycles: 2024: R+63.2 2020: R+61.5 2016: R+64.0 2012: R+52.0 2008: R+47.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.08%
• Current HPI: 321.4024
• Rent YoY: —
• Metro: —
• 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

+548.3% since first listed

9 events — show timeline

• 2026-04-28 Pending — TVRMLS
• 2026-04-23 Price Changed $194,500 TVRMLS
• 2026-04-06 Price Changed $199,000 TVRMLS
• 2026-04-02 Price Changed $209,000 TVRMLS
• 2026-03-26 Price Changed $214,000 TVRMLS
• 2026-03-17 Listed $219,000 TVRMLS
• 2026-01-22 Sold (Public Records) $59,000 Public Records
• 2018-05-11 Sold (Public Records) $44,900 Public Records
• 1999-04-08 Sold (Public Records) $30,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $901 · +2.4% YoY. Source: county tax records.