1358 Farragut Ave · Kingsport, TN 37664

$149,000

3 bd · 2.0 ba · 1,729 sqft · SingleFamily public records · 33 Days on market

Built 1947 8,712 sqft lot

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Why this score? — see what drove the B- 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 +28.8/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Truly "Move-in Condition" 3 Bedroom, 2 full bath home in convenient city location. Beautifully refinished hardwood floors in living/dining and bedrooms; updated baths; NEW: roof, heat pump, water heater, most windows, front door, storm door, over-sized gutters(2015). Apartment set-up in basement includes bedroom, den, bath and small kitchen. Basement also includes large areas for dry storage, workshop, etc. Attached carport on back plus deep lot that is mostly fenced in rear. There's a small room off a bedroom that would make a sweet nursery or convenient office area.

Key facts

• 8,712 sq ft lot
• Parking
• Built 1947

Property features AI

Finance

• Other: Property type: Residential single-family residence; Property condition: Fixer; Zoning: R 1B; Lot dimensions approximately 50 x 150 (0.2 acres); Subdivision: Litz Manor Add; Directions: Ft Henry to right on Farragut; home is on the right at corner of Farragut and Gilmore.
• HOA & community: Sidewalks

Exterior

• Parking: Carport (1 space); Asphalt parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-family house; One level
• Construction: Brick and vinyl siding exterior; Shingle roof; Built as a house; Basement (partially finished, walk-out)
• Exterior features: Front porch; Porch; Storm door(s); Level to sloped topography

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Total rooms: 8
• Flooring: Carpet; Hardwood; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump; Electric heating; Ceiling fans; Fireplace heating
• Interior features: Eat-in kitchen; Laminate counters; Insulated windows; Living room fireplace; Partially finished basement with concrete floor and walk-out access
• 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 $149k.

Deal economics

• At list price, monthly cash flow is $501 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 3.8% in Kingsport — 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 71/100 on livability (#39 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities C-, crime F, commute F.
• Kingsport (urban): math 35% / reading 38% proficiency, ranked #26 of 139 in TN (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Andrew Johnson Elementary School (math 50% / reading 48%, grade D, #133 of 952 statewide, top 14%, 543 students, 0% FRL); Ross N. Robinson Middle School (math 42% / reading 40%, grade F, #37 of 333 statewide, top 12%, 955 students, 0% FRL); Dobyns - Bennett High School (math 23% / reading 56%, grade F, #28 of 332 statewide, top 9%, 2,514 students, 0% FRL) — zoned schools average 0% FRL vs 47% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.7%/yr); 267 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 453 units permitted in Sullivan County in 2024 (6 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 $4k of value loss. Plan a longer hold.
• Sullivan County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $116k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $144,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 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 1947 — 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. Crime grade is F 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?
6. 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.
7. 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.
8. 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: 1.24% ✓
• Cap rate: 10.33%
• Cash-on-cash: 14.41%
• DSCR: 1.64
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $300,846
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1358 Farragut Ave	0.00mi	3/2.0	1,729 (0%)	0mo	$130,000	$75	100
2204 Cypress St	0.24mi	3/2.0	1,600 (-8%)	1mo	$269,000	$168	76
2244 Swannanoa Ave	0.44mi	3/2.0	1,690 (-2%)	4mo	$315,000	$186	72
2208 Sherwood Rd	0.23mi	3/2.0	1,586 (-8%)	6mo	$265,000	$167	70
2613 Rockwell Pl	0.34mi	3/2.0	1,641 (-5%)	8mo	$249,000	$152	68
2208 Hiwassee Dr	0.22mi	3/2.0	1,496 (-14%)	2mo	$260,000	$174	65
2108 Swannanoa Ave	0.57mi	3/2.0	1,629 (-6%)	1mo	$354,700	$218	63
1804 Sherwood Pl	0.45mi	4/2.0 (+1)	1,595 (-8%)	2mo	$283,000	$177	59
2011 Bruce St	0.45mi	3/1.5	1,605 (-7%)	8mo	$230,000	$143	59
3025 Shipley St	0.44mi	4/1.5 (+1)	1,839 (+6%)	8mo	$275,500	$150	55
2217 Swannanoa Ave	0.41mi	4/2.0 (+1)	1,512 (-13%)	1mo	$323,000	$214	54
3920 Thornton Dr	0.71mi	3/3.0	1,898 (+10%)	0mo	$340,000	$179	46

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 · 3.73% rent growth · sell at horizon

5-year hold

• IRR: 5.6%
• Equity multiple: 1.22×
• Total profit: $9,108
• Equity at exit: $22,216

10-year hold

• IRR: 15.6%
• Equity multiple: 2.31×
• Total profit: $54,642
• Equity at exit: $12,883

Cash invested: $41,720 (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 37664

• Home prices YoY: -24.5%
• Rents YoY: 3.7%
• Active inventory: 267
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,849 high
• Mortgage (P&I): −$781
• Tax from tax record: −$116 /mo · $1,396/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $501

Break-even live

Break-even rent $1,215

Max offer price $149,000

Occupancy floor 68%

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3005 Shipley St Kingsport, TN	3.0	1.0	2046	$1,800	$0.88	21d	1	0.37mi
1024 Konnarock Rd Kingsport, TN	2.0	1.5	1050	$1,150	$1.10	21d	1	0.56mi
1018 Konnarock Rd Kingsport, TN	2.0	1.5	1050	$1,150	$1.10	21d	1	0.57mi
3817 Rockford St Kingsport, TN	3.0	2.0	1616	$2,300	$1.42	21d	1	0.68mi
3711 Apple Grove Cir Kingsport, TN	4.0	2.5	2010	$2,200	$1.09	21d	1	0.89mi

Listing history 14 events

1. 2026-05-07
   status Pending
2. 2026-04-17
   status Active
3. 2026-03-29
   status Pending
4. 2026-03-25
   price $149,000
5. 2026-03-17
   listed $159,000 Active
6. 2018-08-23
   soldstatus $116,100
7. 2018-08-21
   soldstatus $116,000 584-char remark

   Show marketing remark (584 chars)

   Truly "Move-in Condition" 3 Bedroom, 2 full bath home in convenient city location. Beautifully refinished hardwood floors in living/dining and bedrooms; updated baths; NEW: roof, heat pump, water heater, most windows, front door, storm door, over-sized gutters(2015). Apartment set-up in basement includes bedroom, den, bath and small kitchen. Basement also includes large areas for dry storage, workshop, etc. Attached carport on back plus deep lot that is mostly fenced in rear. There's a small room off a bedroom that would make a sweet nursery or convenient office area.

8. 2018-05-10
   listed $118,000 584-char remark

   Show marketing remark (584 chars)

   Truly "Move-in Condition" 3 Bedroom, 2 full bath home in convenient city location. Beautifully refinished hardwood floors in living/dining and bedrooms; updated baths; NEW: roof, heat pump, water heater, most windows, front door, storm door, over-sized gutters(2015). Apartment set-up in basement includes bedroom, den, bath and small kitchen. Basement also includes large areas for dry storage, workshop, etc. Attached carport on back plus deep lot that is mostly fenced in rear. There's a small room off a bedroom that would make a sweet nursery or convenient office area.

9. 2017-02-21
   soldstatus $88,000
10. 2017-02-17
    soldstatus $88,000 674-char remark

    Show marketing remark (674 chars)

    All the work has been done! Fresh paint throughout, beautifully refurbished hardwood floors in living/dining and bedrooms, updated baths, "apartment" type set-up downstairs with den, bedroom, full bath and small kitchen! Updates include new windows, new front door, new storm door, new over-sized gutters in 2015. Basement also includes large areas for dry storage, workshop, etc. Attached carport on back plus deep lot that is mostly fenced in the rear. There's a small room off a bedroom that would make a sweet nursery or convenient office area. Conveniently located off Ft Henry near terrific city schools, this home abounds with possibilities. Asking $94,000.

11. 2017-01-06
    listed $94,000 674-char remark

    Show marketing remark (674 chars)

    All the work has been done! Fresh paint throughout, beautifully refurbished hardwood floors in living/dining and bedrooms, updated baths, "apartment" type set-up downstairs with den, bedroom, full bath and small kitchen! Updates include new windows, new front door, new storm door, new over-sized gutters in 2015. Basement also includes large areas for dry storage, workshop, etc. Attached carport on back plus deep lot that is mostly fenced in the rear. There's a small room off a bedroom that would make a sweet nursery or convenient office area. Conveniently located off Ft Henry near terrific city schools, this home abounds with possibilities. Asking $94,000.

12. 2002-08-08
    soldstatus $65,000
13. 1998-07-13
    soldstatus $71,000
14. 1997-09-22
    soldstatus $62,000

ⓘ 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: $1,396 · $116/mo
• Projected year-2 tax: $1,396 · $116/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major 7 d/yr ≥100°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,186
• − Mortgage interest: −$8,346
• − Property taxes: −$1,396
• − Insurance: −$745
• − Repairs & maintenance: −$1,775
• − Management: −$1,775
• − Depreciation: −$4,335
• Taxable income: $3,815
• Est. tax owed @ 24.0%: −$916
• After-tax cash flow: $5,095/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: Kingsport
• NCES district ID: 4702190
• Math proficiency: 35% ▼ -12.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $38,017
• Composite: 30.44/100
• National rank: #6233
• State rank: #26 of 139 in TN

Livability — Kingsport

• Score: 71/100
• State rank: #39
• US rank: #6587

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kingsport, TN
• County: Sullivan County · 121,987 people
• City population: 83,493
• Metro: Kingsport-Bristol, TN-VA
• Population (ZIP): 28,267
• Household income: $63,653
• Rent vs Own: 29.0% rent · 71.0% own
• Severe rent burden: 739.0

Population outlook (Sullivan County) Hauer SSP2

• Today (2025): 157,030 people
• By 2030: 156,415 · -0.4%
• By 2040: 153,778 · -2.1%
• By 2050: 149,018 · -5.1%
• By 2075: 138,068 · -12.1%
• By 2100: 119,927 · -23.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2% Black 1%
• Common ancestry: Serbian 4% Slovak 3% Italian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 98% English-only · Spanish 1% Chinese 1%

Political lean MEDSL · Sullivan

• 2024 margin: Solid R (+55.0) · D 22.0% · R 77.0% · Other 1.0%
• 2008→2024 swing: -13.6pp toward R · 2008: -41.3pp · 2024: -55.0pp
• All cycles: 2024: R+55.0 2020: R+51.9 2016: R+56.2 2012: R+47.2 2008: R+41.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.12%
• Current HPI: 261.7474
• Rent YoY: ▲ 3.73%
• Metro: Kingsport-Bristol, TN-VA
• 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

+140.3% since first listed

14 events — show timeline

• 2026-05-07 Pending — TVRMLS
• 2026-04-17 Relisted — TVRMLS
• 2026-03-29 Pending — TVRMLS
• 2026-03-25 Price Changed $149,000 TVRMLS
• 2026-03-17 Listed $159,000 TVRMLS
• 2018-08-23 Sold (Public Records) $116,100 Public Records
• 2018-08-21 Sold (MLS) $116,000 TVRMLS
• 2018-05-10 Listed $118,000 TVRMLS
• 2017-02-21 Sold (Public Records) $88,000 Public Records
• 2017-02-17 Sold (MLS) $88,000 TVRMLS
• 2017-01-06 Listed $94,000 TVRMLS
• 2002-08-08 Sold (Public Records) $65,000 Public Records
• 1998-07-13 Sold (Public Records) $71,000 Public Records
• 1997-09-22 Sold (Public Records) $62,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $1,396 · +40.0% YoY. Source: county tax records.