801 Magnolia Ext #3 · Johnson City, TN 37604

$1,600

2 bd · 2.0 ba · 1,088 sqft · SingleFamily · 40 Days on market

Built 2008 1,306 sqft lot $1/sqft · 99% below area

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

2-Bedroom, 2-Bathroom Townhome with Garage and Loft Near ETSU Located just 4 minutes from ETSU, this 2-bedroom, 2-bathroom townhome features an open-concept kitchen and living room on the main floor. Upstairs, there are two bedrooms, two bathrooms, and a loft area that serves as additional living space. The property includes a one-car garage with storage space in the back. Washer and dryer hookups are located in the garage. Lawn maintenance is provided by the landlord. Please note: The photos in this listing show the property furnished, but the home is being rented unfurnished. This home is currently occupied and will be available for move-in on June 1. Showings require 24 hours' notice.

Key facts

• One-car garage
• Open-concept kitchen
• Lawn maintenance

Tags

• OPEN-CONCEPT KITCHEN
• LOFT AREA
• ONE-CAR GARAGE
• LAWN MAINTENANCE

Property features AI

Exterior

• Parking: 1-car garage; Asphalt parking
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Phone available; Water connected; Sewer connected
• Home design: Townhouse; Two levels; Residential property
• Construction: Vinyl siding
• Exterior features: Covered patio/porch; Deck; Front porch; Shingle roof; Sloped, wooded topography

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Total rooms: 9
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Electric heating; Heat pump; Central air; Ceiling fans
• Interior features: Eat-in kitchen; Laminate countertops; Open floorplan; Double pane windows
• Laundry & utility: Washer hookup; Electric dryer hookup

🏷️ Possibly a rental listed for sale. The $1,600 price doesn't fit this home's estimated sale value (~$192,712) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $2k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $2k).
• Recommended offer: $2k (3.0% below list) — sets the bar for market timing.
• Cap rate 771.1% vs local median 3.1% in Johnson City — 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 76/100 on livability (#8 in TN, #3,349 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A; Watch: crime D, commute F, employment F.
• Johnson City (urban): math 46% / reading 47% proficiency, ranked #9 of 139 in TN (top 6%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: South Side Elementary (math 42% / reading 57%, grade D, #119 of 952 statewide, top 14%, 407 students, 0% FRL); Liberty Bell Middle School (math 43% / reading 38%, grade F, #42 of 333 statewide, top 13%, 898 students, 0% FRL); Science Hill High School (math 37% / reading 60%, grade D, #13 of 332 statewide, top 4%, 2,401 students, 0% FRL) — zoned schools average 0% FRL vs 44% district-wide (44 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.5%/yr); 207 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,155 units permitted in Washington County in 2024 (437 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $11 of loan paydown is wiped out by about $48 of value loss. Plan a longer hold.
• Washington County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 1.5% rent growth), your $448 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($2k) is reasonable based on typical stale-listing flexibility.

Recommended offer $1,552 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 81.55% ✓
• Cap rate: 771.08%
• Cash-on-cash: 2731.37%
• DSCR: 122.53
• GRM: 0.1

CMA / ARV

• ARV (median comp): $192,712
• List price: $1,600
• Delta: -99.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
801 Magnolia Ext #3	0.00mi	2/2.0	1,088 (0%)	0mo	$1,600	$1	100
801 Magnolia Ext #6	0.00mi	2/2.0	1,088 (0%)	0mo	$1,600	$1	100
801 Magnolia Ext #5	0.00mi	2/2.0	1,088 (0%)	2mo	$1,600	$1	99
801 Magnolia Ext #7	0.00mi	2/2.0	1,088 (0%)	16mo	$1,550	$1	87
801 Magnolia Ext #1	0.00mi	3/2.0 (+1)	1,088 (0%)	11mo	$1,600	$1	86
506 Highland Rd	0.37mi	2/1.0	1,008 (-7%)	10mo	$242,000	$240	58
1907 Sinking Creek Rd	0.50mi	2/2.0	1,170 (+8%)	10mo	$257,500	$220	56
403 Poplar St	0.72mi	2/1.0	1,114 (+2%)	7mo	$233,700	$210	53
507 Poplar St	0.56mi	3/1.0 (+1)	1,138 (+5%)	9mo	$299,000	$263	50
600 University Pkwy	0.26mi	2/1.0	924 (-15%)	12mo	$198,500	$215	49
409 Locust St	0.74mi	2/1.0	1,130 (+4%)	9mo	$310,000	$274	48
703 Rolling Hills Dr	0.63mi	3/1.0 (+1)	1,186 (+9%)	10mo	$103,000	$87	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 · 1.51% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 141.13×
• Total profit: $62,779
• Equity at exit: $239

10-year hold

• IRR: —
• Equity multiple: 292.74×
• Total profit: $130,699
• Equity at exit: $138

Cash invested: $448 (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 37604

• Home prices YoY: -26.1%
• Rents YoY: 1.5%
• Active inventory: 207
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $1,305 high
• Mortgage (P&I): −$8
• Tax est. 1.5%: −$2 /mo · $24/yr
• Insurance: −$1
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $1,020

Break-even live

Break-even rent $14

Max offer price $1,600

Occupancy floor 17%

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: $400
• Closing costs: $48
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1400 Virginia St Unit 2 Johnson City, TN	2.0	1.0	1000	$925	$0.93	43d	1	0.28mi
701 W Locust St #22 Johnson City, TN	2.0	1.5	1141	$1,375	$1.21	43d	1	0.56mi
616 W Maple St Unit 2 Johnson City, TN	2.0	1.0	925	$1,000	$1.08	43d	1	0.74mi
1010 Buffalo St Unit 3 Johnson City, TN	2.0	1.0	861	$1,300	$1.51	43d	1	0.87mi
404 W Maple St Unit 1 Johnson City, TN	2.0	1.0	1000	$1,050	$1.05	43d	1	0.88mi
1505 Cherokee Rd #22 Johnson City, TN	2.0	1.0	850	$1,000	$1.18	43d	1	0.92mi
220 Highland Ave Unit 1397973P Johnson City, TN	2.0	1.0	925	$3,993	$4.32	13d	1	0.97mi
1816 Presswood Rd Johnson City, TN	2.0	1.5	1092	$1,300	$1.19	13d	1	0.99mi
1707 Buccaneer Dr Johnson City, TN	1.0–2.0	1.0	720	$1,000	$1.39	13d	1	1.03mi
1507 Linden St Unit 25 Johnson City, TN	2.0	1.5	1150	$1,125	$0.98	13d	1	1.09mi
608 W Watauga Ave Unit 3 Johnson City, TN	2.0	1.5	1000	$1,200	$1.20	43d	1	1.12mi
621 Lamont St Johnson City, TN	3.0	1.0	925	$1,500	$1.62	13d	1	1.14mi
621 Hamilton St Johnson City, TN	2.0	2.0	1184	$1,725	$1.46	21d	1	1.22mi
250 W Main St Apt 7 Johnson City, TN	1.0	1.0	700	$750	$1.07	13d	1	1.23mi
268 W Main St Unit WM-06 Johnson City, TN	2.0	1.0	960	$1,350	$1.41	13d	1	1.24mi
116 E Market St Johnson City, TN	2.0	2.5	1249	$1,700	$1.36	13d	1	1.25mi
407 S Roan St Johnson City, TN	1.0	1.0	716	$1,250	$1.74	13d	2	1.25mi
405 W Watauga Ave Unit WAT-34 Johnson City, TN	1.0	1.0	872	$1,150	$1.32	43d	1	1.25mi
1729 Mary St Johnson City, TN	3.0	1.0	890	$1,450	$1.63	43d	1	1.29mi
169 Grand Ave #101 heuristic Johnson City, TN	2.0	2.0	1080	$2,500	$2.31	25d	1	1.30mi
169 Grande Ave #100 heuristic Johnson City, TN	2.0	2.0	1080	$2,500	$2.31	25d	1	1.30mi
169 Grande Ave #200 heuristic Johnson City, TN	2.0	2.0	1080	$2,500	$2.31	25d	1	1.30mi
169 Grand Ave #300 heuristic Johnson City, TN	2.0	2.0	792	$2,500	$3.16	25d	1	1.30mi
169 Grand Ave #401 heuristic Johnson City, TN	2.0	2.0	792	$2,500	$3.16	25d	1	1.30mi
168 E Grande Ave Unit 04 Johnson City, TN	2.0	2.0	800	$1,350	$1.69	21d	1	1.32mi
829 Hamilton St Johnson City, TN	3.0	2.0	1324	$2,100	$1.59	21d	1	1.34mi
2560 Plymouth Rd Johnson City, TN	2.0–3.0	2.0	1163	$980	$0.84	13d	1	1.38mi
2610 Plymouth Rd Johnson City, TN	1.0–3.0	1.0–2.0	855	$1,288	$1.50	13d	6	1.48mi

Listing history 13 events

1. 2026-06-16
   days on market $1,600 Active 40 DOM
2. 2026-06-15
   days on market $1,600 Active 39 DOM
3. 2026-06-14
   days on market $1,600 Active 37 DOM
4. 2026-06-13
   days on market $1,600 Active 36 DOM
5. 2026-06-10
   days on market $1,600 Active 34 DOM
6. 2026-06-09
   days on market $1,600 Active 33 DOM
7. 2026-06-08
   days on market $1,600 Active 32 DOM
8. 2026-06-07
   days on market $1,600 Active 31 DOM
9. 2026-06-02
   days on market $1,600 Active 26 DOM
10. 2026-06-01
    days on market $1,600 Active 25 DOM
11. 2026-05-31
    days on market $1,600 Active 24 DOM
12. 2026-05-30
    days on market $1,600 Active 23 DOM
13. 2026-05-07
    listed $1,600 Active 1392-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 6 d/yr ≥95°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: $15,657
• − Mortgage interest: −$90
• − Property taxes: −$24
• − Insurance: −$8
• − Repairs & maintenance: −$1,253
• − Management: −$1,253
• − Depreciation: −$47
• Taxable income: $12,984
• Est. tax owed @ 24.0%: −$3,116
• After-tax cash flow: $9,120/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: Johnson City
• NCES district ID: 4702130
• Math proficiency: 46% ▼ -14.00%
• Reading proficiency: 47% ▼ -2.00%
• Median HH income: $37,514
• Composite: 38.69/100
• National rank: #4143
• State rank: #9 of 139 in TN

Livability — Johnson City

• Score: 76/100
• State rank: #8
• US rank: #3349

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Johnson City, TN
• County: Washington County · 129,006 people
• City population: 99,926
• Metro: Johnson City, TN
• Population (ZIP): 39,097
• Household income: $52,345
• Rent vs Own: 49.7% rent · 50.3% own
• Severe rent burden: 2254.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 132,816 people
• By 2030: 135,823 · +2.3%
• By 2040: 140,897 · +6.1%
• By 2050: 145,073 · +9.2%
• By 2075: 156,386 · +17.7%
• By 2100: 159,893 · +20.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 6% Black 6% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 3% Serbian 3% Italian 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+39.5) · D 29.6% · R 69.1% · Other 1.3%
• 2008→2024 swing: -6.0pp toward R · 2008: -33.5pp · 2024: -39.5pp
• All cycles: 2024: R+39.5 2020: R+36.2 2016: R+42.9 2012: R+38.5 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.73%
• Current HPI: 277.1137
• Rent YoY: ▲ 1.51%
• Metro: Johnson City, TN
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-16 Sold (MLS) $1,600 TVRMLS
• 2026-05-07 Listed $1,600 TVRMLS