117 Mull St · Kingsport, TN 37665

$99,000

3 bd · 2.0 ba · 1,107 sqft · Manufactured public records · 7 Days on market

Built 1999 6,969 sqft lot

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Why this score? — see what drove the C+ 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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.3/10.0

Listing remarks

Attention investors and DIY enthusiasts! Multiple exit strategies: finish this remodel then either flip, rent or move in! Home being sold as is. Cash preferred but will consider financed all offers. Seller is assisted by an Attorney in Fact. Do not knock on door or approach house without prior communication.

Key facts

• 6,969 sq ft lot
• Built 1999
• Listed 6 days

Property features AI

Finance

• Financial info: Annual tax amount listed (financial details excluded per instructions)

Exterior

• Parking: No covered parking reported; No parking spaces reported
• Utilities: Water: Other; Sewer: Other
• Home design: Single-family residence; One story
• Construction: Construction materials listed as other; Foundation details listed as other; Existing (year built not specified)
• Exterior features: Lot approximately 0.16 acres (50 x 146 irregular)

Interior

• Kitchen: No appliances listed
• Bedrooms: 3 bedrooms, all on the main level
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heating present (type not specified); Cooling present (type not specified)
• Interior features: Basement with unspecified/other features; Other flooring
• Laundry & utility: No laundry or utility appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $99k.

Deal economics

• At list price, monthly cash flow is $237 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Cap rate 9.2% 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: John F. Kennedy Elementary School (math 22% / reading 27%, grade F, #546 of 952 statewide, top 61%, 266 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: 30 active listings in the ZIP; 10 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 $684 of loan paydown is wiped out by about $3k 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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $12k; list at $99k implies a 692% gain — meaningful room to come down on a strong offer.

Recommended offer $99,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.12% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.24%
• DSCR: 1.46
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.96×
• Total profit: $-980
• Equity at exit: $14,761

10-year hold

• IRR: 8.7%
• Equity multiple: 1.67×
• Total profit: $18,513
• Equity at exit: $8,560

Cash invested: $27,720 (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 37665

• Home prices YoY: -2.6%
• Active inventory: 30
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,110 high
• Mortgage (P&I): −$519
• Tax from tax record: −$80 /mo · $955/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $237

Break-even live

Break-even rent $810

Max offer price $99,000

Occupancy floor 74%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
812 Burwind Ct Unit 812-3 Kingsport, TN	2.0	1.0	800	$950	$1.19	20d	1	0.14mi
1040 Tiptop Ave Kingsport, TN	2.0–3.0	2.0	947	$1,025	$1.08	13d	1	0.36mi
208 Gravely Rd Kingsport, TN	2.0	1.0	780	$1,249	$1.60	13d	1	0.45mi
133 Walker St Kingsport, TN	2.0	1.5	840	$975	$1.16	20d	1	0.56mi
724 Teasel Dr Kingsport, TN	1.0–2.0	1.0	927	$999	$1.08	20d	1	0.64mi
1621 Arbor Pl Unit 4 Kingsport, TN	2.0	1.0	900	$1,000	$1.11	43d	1	0.88mi
124 Bloomingdale Pike Kingsport, TN	1.0–2.0	1.0–1.5	878	$1,300	$1.48	13d	1	0.92mi
455 W Sullivan St Kingsport, TN	1.0–3.0	1.0–2.0	988	$1,954	$1.98	13d	16	1.15mi
179 Gilmer St Unit A Kingsport, TN	2.0	1.0	1300	$1,450	$1.12	13d	1	1.25mi
1113 Bloomingdale Pike Kingsport, TN	3.0	1.0	896	$1,398	$1.56	20d	1	1.32mi

Listing history 7 events

1. 2026-06-19
   days on market $99,000 Active 7 DOM
2. 2026-06-18
   days on market $99,000 Active 6 DOM
3. 2026-06-17
   days on market $99,000 Active 5 DOM
4. 2026-06-16
   days on market $99,000 Active 4 DOM
5. 2026-06-15
   days on market $99,000 Active 3 DOM
6. 2026-06-13
   remarks 309-char remark
7. 2026-06-13
   listed $99,000 Active 1 DOM

ⓘ 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: $955 · $80/mo
• Projected year-2 tax: $955 · $80/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 2/10 Low
• 🌡 Heat 4/10 Moderate 5 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,316
• − Mortgage interest: −$5,546
• − Property taxes: −$955
• − Insurance: −$495
• − Repairs & maintenance: −$1,065
• − Management: −$1,065
• − Depreciation: −$2,880
• Taxable income: $1,310
• Est. tax owed @ 24.0%: −$314
• After-tax cash flow: $2,525/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
• City population: 83,493
• Population (ZIP): 5,156

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% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 6% Serbian 3% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 93% English-only · Spanish 7%

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: ▼ -7.36%
• Current HPI: 275.7692
• 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

+692.0% since first listed

2 events — show timeline

• 2026-06-12 Listed $99,000 REALTRACS as Distributed by MLS Grid
• 2005-04-28 Sold (Public Records) $12,500 Public Records

Property tax history

+11.7%/yr

Latest (2025): $955 · +25.1% YoY. Source: county tax records.