514 Ranier Dr

Colonial Heights, TN 37663

$100,000B-

2 bd · 2.0 ba · 2,452 sqft · Built 1960 · SingleFamily · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,846/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$69
• HOA: −$0
• Vac / Maint / Mgmt: −$388
• Net cashflow: $866/mo
• Annual: $10,387/yr
• Cap rate: 16.68%
• Cash-on-cash: 37.09%
• DSCR: 2.65
• 1% rule: 1.85%
• Cash to close: $28,000

Investor read

• This is a 2-bed/2.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $866 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#94 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Sullivan County (suburban): math 17% / reading 24% proficiency, ranked #109 of 139 in TN (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Rock Springs Elementary (math 42% / reading 27%, grade F, #319 of 952 statewide, top 37%, 415 students, 0% FRL); Sullivan Heights Middle School (692 students, 0% FRL); West Ridge High School (1,683 students, 0% FRL) — zoned schools average 0% FRL vs 45% district-wide (45 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 34% at this address vs 20% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Sullivan County average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 99 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 453 units permitted in Sullivan County in 2024 (6 in 5+ unit buildings).
• Sullivan County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $35k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $38k; list at $100k implies a 163% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.