208 Lynfield Rd

Bristol, TN 37620

$209,900D

3 bd · 1.0 ba · 1,175 sqft · Built 1965 · SingleFamily · Active · 93 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,699/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$204
• HOA: −$0
• Vac / Maint / Mgmt: −$357
• Net cashflow: $38/mo
• Annual: $454/yr
• Cap rate: 6.51%
• Cash-on-cash: 0.77%
• DSCR: 1.03
• 1% rule: 0.81%
• Cash to close: $58,772

Investor read

• This is a 3-bed/1.0-bath single-family listed at $210k.
• At list price, monthly cash flow is $38 ($454/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 $170k (19.0% below list).
• It's been on market 93 days — a 9% lower offer ($191k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $170k (19.0% below list) — sets the bar for 1% rule.
• 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.
• Location reads 73/100 on livability (#24 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, commute F, employment F.
• Bristol (urban): math 37% / reading 35% proficiency, ranked #29 of 139 in TN (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Avoca Elementary (math 44% / reading 38%, grade F, #215 of 952 statewide, top 23%, 423 students, 0% FRL); Bristol Tennessee Middle School (math 37% / reading 29%, grade F, #77 of 333 statewide, top 24%, 883 students, 0% FRL); Tennessee High School (math 20% / reading 41%, grade F, #75 of 332 statewide, top 24%, 1,154 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 253 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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.
• Current owner paid $130k; list at $210k implies a 61% gain — meaningful room to come down on a strong offer.
• Cap rate 6.5% vs local median 3.8% in Bristol — 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.
• This rent runs 36% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 93 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.