115 Lancelot Dr · Hunter, TN 37643

$340,000

3 bd · 2.0 ba · 1,710 sqft · SingleFamily public records · 206 Days on market

Built 1972 0.34 ac lot Est $279k · 22% over

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Why this score? — see what drove the F 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 +16.8/30.0
• DSCR +5.2/10.0
• 1% rule +3.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-maintained and featuring three distinct living spaces, this one-level brick home has two full bathrooms, a real laundry room, great outdoor living space, a garage with built-in shelving, and even a nice storage building! A lovely kitchen with new stainless appliances, dining area, primary bedroom and two additional bedrooms complete the home. The brand new washer and dryer also stay with the home. As the last house on the street, enjoy privacy relaxing on your large covered deck or tending your beautiful perennial flowers. Within walking distance of the Watauga River, you also are only a short drive from Watauga Lake, Boone Lake, South Holston Lake, North Carolina and Virginia! Crawl space is fully encapsulated, HVAC has had yearly maintenance. Don't let this prize get away.

Key facts

• Well-kept yard
• Mature landscaping
• Outdoor living

Tags

• HEATED AND COOLED SUNROOM
• WELL-KEPT YARD
• MATURE LANDSCAPING
• OUTDOOR LIVING

Property features AI

Finance

• HOA & community: Community landscaping

Exterior

• Parking: Attached garage with 1 garage space; Driveway; Concrete apron; Garage door opener
• Utilities: Public water; Septic tank sewer
• Home design: Single-family house; One story; Residential property
• Construction: Brick and vinyl siding construction; Shingle roof; Built as a house (year built not provided)
• Exterior features: Covered rear porch; Sloped topography; Has a view

Interior

• Kitchen: Microwave; Refrigerator
• Bedrooms: 7 total rooms (bedroom count not specified)
• Flooring: Hardwood; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Heat pump cooling
• Interior features: Double-pane windows; Crawl space with sump pump
• 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 $340k.

Deal economics

• At list price, monthly cash flow is $165 ($2k/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 $280k (17.6% below list).
• Recommended offer: $280k (17.6% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 3.1% in Hunter — 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 61/100 on livability (#258 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B+; Watch: amenities F, commute F, employment D-.
• Carter County (suburban): math 16% / reading 23% proficiency, ranked #119 of 139 in TN (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Hunter Elementary (math 15% / reading 21%, grade F, #697 of 952 statewide, top 74%, 433 students, 0% FRL); Unaka High School (math 12% / reading 32%, grade F, #163 of 332 statewide, top 51%, 315 students, 0% FRL) — zoned schools average 0% FRL vs 60% district-wide (60 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 $2k of loan paydown is wiped out by about $10k 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 206 days — a 12% lower offer ($299k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $280,000 (17.6% below list)

Questions for the listing agent

1. It's been on market 206 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 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 7.07%
• Cash-on-cash: 2.78%
• DSCR: 1.12
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $278,730
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
129 Camelot Ct	0.08mi	3/2.0	1,717 (+0%)	11mo	$280,000	$163	86
243 Sunrise Dr	0.23mi	3/2.0	1,828 (+7%)	10mo	$298,500	$163	69
166 Pierce St	0.29mi	3/2.0	1,515 (-11%)	8mo	$360,000	$238	61
179 Lincoln Dr	0.70mi	3/2.5	1,688 (-1%)	10mo	$435,000	$258	55
315 Sunrise Dr	0.56mi	3/2.0	1,827 (+7%)	10mo	$460,000	$252	54
112 Isaac Lincoln Pl	0.72mi	3/2.0	1,838 (+8%)	1mo	$409,900	$223	53
150 Little Stoney Creek Rd	0.49mi	3/2.0	1,955 (+14%)	2mo	$295,000	$151	52
251 Sunrise Dr	0.26mi	3/2.0	1,495 (-13%)	23mo	$280,000	$187	48
113 Arrow Dr	0.43mi	3/1.0	1,512 (-12%)	15mo	$240,000	$159	44
109 Arrow Dr	0.45mi	3/2.0	1,456 (-15%)	22mo	$226,000	$155	36
117 Unit A Forest Dr	0.75mi	2/2.0 (-1)	1,462 (-14%)	13mo	$203,000	$139	25

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: -13.0%
• Equity multiple: 0.53×
• Total profit: $-44,706
• Equity at exit: $50,695

10-year hold

• IRR: -4.1%
• Equity multiple: 0.73×
• Total profit: $-25,951
• Equity at exit: $29,397

Cash invested: $95,200 (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 37643

• Home prices YoY: -19.3%
• Active inventory: 173
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,800 medium
• Mortgage (P&I): −$1,783
• Tax from tax record: −$66 /mo · $797/yr
• Insurance: −$142
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $165

Break-even live

Break-even rent $2,591

Max offer price $340,000

Occupancy floor 89%

Sensitivity live

Price	-10% $358	-5% $262	+0% $165	+5% $69	+10% $-27
Rent	-10% $-56	-5% $55	+0% $165	+5% $276	+10% $387
Rate	-1.0pp $337	-0.5pp $252	base $165	+0.5pp $77	+1.0pp $-12

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
105 Bishop Hollow Rd Elizabethton, TN	3.0	2.0	1760	$2,800	$1.59	13d	1	1.46mi

Listing history 28 events

1. 2026-06-19
   days on market $340,000 Active 206 DOM
2. 2026-06-18
   days on market $340,000 Active 205 DOM
3. 2026-06-17
   days on market $340,000 Active 204 DOM
4. 2026-06-16
   days on market $340,000 Active 203 DOM
5. 2026-06-15
   days on market $340,000 Active 202 DOM
6. 2026-06-14
   days on market $340,000 Active 200 DOM
7. 2026-06-13
   days on market $340,000 Active 199 DOM
8. 2026-06-10
   days on market $340,000 Active 197 DOM
9. 2026-06-09
   days on market $340,000 Active 196 DOM
10. 2026-06-08
    days on market $340,000 Active 195 DOM
11. 2026-06-07
    days on market $340,000 Active 194 DOM
12. 2026-06-03
    days on market $340,000 Active 190 DOM
13. 2026-06-02
    statusdays on market $340,000 Active 189 DOM
14. 2026-06-01
    days on market $340,000 Active Under Contract 188 DOM
15. 2026-05-31
    days on market $340,000 Active Under Contract 187 DOM
16. 2026-05-30
    days on market $340,000 Active Under Contract 186 DOM
17. 2026-03-16
    historical Active Under Contract
18. 2025-12-18
    price $340,000
19. 2025-12-03
    price $343,000
20. 2025-11-25
    listed $350,000 Active
21. 2025-10-08
    price $355,000
22. 2023-06-07
    soldstatus $323,000
23. 2023-06-06
    soldstatus $323,000 Closed 790-char remark

    Show marketing remark (790 chars)

    Well-maintained and featuring three distinct living spaces, this one-level brick home has two full bathrooms, a real laundry room, great outdoor living space, a garage with built-in shelving, and even a nice storage building! A lovely kitchen with new stainless appliances, dining area, primary bedroom and two additional bedrooms complete the home. The brand new washer and dryer also stay with the home. As the last house on the street, enjoy privacy relaxing on your large covered deck or tending your beautiful perennial flowers. Within walking distance of the Watauga River, you also are only a short drive from Watauga Lake, Boone Lake, South Holston Lake, North Carolina and Virginia! Crawl space is fully encapsulated, HVAC has had yearly maintenance. Don't let this prize get away.

24. 2023-04-23
    historical Active Under Contract 790-char remark

    Show marketing remark (790 chars)

    Well-maintained and featuring three distinct living spaces, this one-level brick home has two full bathrooms, a real laundry room, great outdoor living space, a garage with built-in shelving, and even a nice storage building! A lovely kitchen with new stainless appliances, dining area, primary bedroom and two additional bedrooms complete the home. The brand new washer and dryer also stay with the home. As the last house on the street, enjoy privacy relaxing on your large covered deck or tending your beautiful perennial flowers. Within walking distance of the Watauga River, you also are only a short drive from Watauga Lake, Boone Lake, South Holston Lake, North Carolina and Virginia! Crawl space is fully encapsulated, HVAC has had yearly maintenance. Don't let this prize get away.

25. 2023-04-21
    listed $315,000 Active 790-char remark

    Show marketing remark (790 chars)

    Well-maintained and featuring three distinct living spaces, this one-level brick home has two full bathrooms, a real laundry room, great outdoor living space, a garage with built-in shelving, and even a nice storage building! A lovely kitchen with new stainless appliances, dining area, primary bedroom and two additional bedrooms complete the home. The brand new washer and dryer also stay with the home. As the last house on the street, enjoy privacy relaxing on your large covered deck or tending your beautiful perennial flowers. Within walking distance of the Watauga River, you also are only a short drive from Watauga Lake, Boone Lake, South Holston Lake, North Carolina and Virginia! Crawl space is fully encapsulated, HVAC has had yearly maintenance. Don't let this prize get away.

26. 2022-12-06
    soldstatus $295,000
27. 2022-11-22
    soldstatus $295,000
28. 2022-10-21
    listed $299,900

ⓘ 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: $797 · $66/mo
• Projected year-2 tax: $2,414 · $201/mo
• Expected delta: +$1,617/yr (+$135/mo · 202.9%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 4/10 Moderate 8 d/yr ≥98°F today · 24 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: $33,600
• − Mortgage interest: −$19,045
• − Property taxes: −$797
• − Insurance: −$2,366
• − Repairs & maintenance: −$2,688
• − Management: −$2,688
• − Depreciation: −$9,891
• Taxable loss: −$3,876
• Est. tax savings @ 24.0%: +$930
• After-tax cash flow: $2,915/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: Carter County
• NCES district ID: 4700510
• Math proficiency: 16% ▼ -19.00%
• Reading proficiency: 23% ▼ -8.00%
• Median HH income: $33,744
• Composite: 15.92/100
• National rank: #9253
• State rank: #119 of 139 in TN

Livability — Hunter

• Score: 61/100
• State rank: #258
• US rank: #18321

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hunter, TN
• 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

+13.4% since first listed

12 events — show timeline

• 2026-03-16 Contingent — TVRMLS
• 2025-12-18 Price Changed $340,000 TVRMLS
• 2025-12-03 Price Changed $343,000 TVRMLS
• 2025-11-25 Listed $350,000 TVRMLS
• 2025-10-08 Price Changed $355,000 TVRMLS
• 2023-06-07 Sold (Public Records) $323,000 Public Records
• 2023-06-06 Sold (MLS) $323,000 TVRMLS
• 2023-04-23 Contingent — TVRMLS
• 2023-04-21 Listed $315,000 TVRMLS
• 2022-12-06 Sold (Public Records) $295,000 Public Records
• 2022-11-22 Sold (MLS) $295,000 TVRMLS
• 2022-10-21 Listed $299,900 TVRMLS

Property tax history

+0.8%/yr

Latest (2025): $797 · +0.0% YoY. Source: county tax records.