780 Hamilton Rd Apt F5 · Kingsport, TN 37617

$185,000

2 bd · 2.0 ba · 1,018 sqft · Townhouse public records · 133 Days on market

Built 1979 $182/sqft · 31% above area Est $174k · 6% over $264/mo HOA · 11% of rent

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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 +27.0/30.0
• DSCR +9.3/10.0
• 1% rule +7.9/10.0
• ARV discount +4.7/15.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the desirable Misty Waters community, this well-maintained 2-bedroom, 2-bath townhome offers over 1,200 sq ft of comfortable, low-maintenance living — with NO city taxes. Enjoy community amenities including a pool, boating docks, tennis courts, and a clubhouse. The HOA ($264/month) covers roofing, siding, exterior maintenance, sewer, and trash for added peace of mind. The main level features a spacious bedroom and full bath, vaulted ceilings, a cozy fireplace, and a private deck. Upstairs, the primary suite offers a full bath and walk-in closet. Conveniently located near Tri-Cities Airport, schools, and everyday essentials. Schedule your showing today! * All information believed to be accurate but not guaranteed * Buyer/ buyer agents to to verify.

Key facts

• Boating docks
• Private deck
• Community amenities

Tags

• MISTY WATERS COMMUNITY
• COMMUNITY AMENITIES
• BOATING DOCKS
• TENNIS COURTS
• PRIVATE DECK
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $185k.

Deal economics

• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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-, schools D, crime F.
• Sullivan County (suburban): math 17% / reading 24% proficiency, ranked #109 of 139 in TN (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 141 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).

Forward outlook

• 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.
• 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 + 3.0% rent growth), your $52k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
7. 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?
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: 1.29% ✓
• Cap rate: 9.64%
• Cash-on-cash: 11.96%
• DSCR: 1.53
• GRM: 6.4

CMA / ARV

• ARV (median comp): $173,982
• List price: $185,000
• Delta: 6.33%
• Verdict: FAIR
• Comps: 10 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 1.5%
• Equity multiple: 1.06×
• Total profit: $3,009
• Equity at exit: $27,584

10-year hold

• IRR: 11.2%
• Equity multiple: 1.88×
• Total profit: $45,355
• Equity at exit: $15,995

Cash invested: $51,800 (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 37617

• Home prices YoY: -17.9%
• Active inventory: 141
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,390 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$61 /mo · $727/yr
• Insurance: −$77
• HOA: −$264
• Vacancy / Maint / Mgmt: −$502
• Net cashflow: $516

Break-even live

Break-even rent $1,736

Max offer price $185,000

Occupancy floor 73%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
516 Lakeside Dock Dr #6 Kingsport, TN	2.0	1.5	1120	$2,000	$1.79	13d	1	1.15mi
388 Hideaway Farm Rd Piney Flats, TN	3.0	2.0	1446	$3,000	$2.07	21d	1	1.39mi

HOA detail

• Monthly dues: $264 · $3,168/yr
• Likely covers: watersewertrashexterior maint.pool

Listing history 22 events

1. 2026-06-19
   days on market $185,000 Active 133 DOM
2. 2026-06-18
   days on market $185,000 Active 132 DOM
3. 2026-06-17
   days on market $185,000 Active 131 DOM
4. 2026-06-16
   days on market $185,000 Active 130 DOM
5. 2026-06-15
   days on market $185,000 Active 129 DOM
6. 2026-06-14
   days on market $185,000 Active 127 DOM
7. 2026-06-13
   days on market $185,000 Active 126 DOM
8. 2026-06-10
   days on market $185,000 Active 124 DOM
9. 2026-06-09
   days on market $185,000 Active 123 DOM
10. 2026-06-08
    days on market $185,000 Active 122 DOM
11. 2026-06-07
    days on market $185,000 Active 121 DOM
12. 2026-06-02
    days on market $185,000 Active 116 DOM
13. 2026-06-01
    days on market $185,000 Active 115 DOM
14. 2026-05-31
    days on market $185,000 Active 114 DOM
15. 2026-05-30
    days on market $185,000 Active 113 DOM
16. 2026-02-07
    listed $190,000 Active 779-char remark

    Show marketing remark (779 chars)

    Located in the desirable Misty Waters community, this well-maintained 2-bedroom, 2-bath townhome offers over 1,200 sq ft of comfortable, low-maintenance living — with NO city taxes. Enjoy community amenities including a pool, boating docks, tennis courts, and a clubhouse. The HOA ($264/month) covers roofing, siding, exterior maintenance, sewer, and trash for added peace of mind. The main level features a spacious bedroom and full bath, vaulted ceilings, a cozy fireplace, and a private deck. Upstairs, the primary suite offers a full bath and walk-in closet. Conveniently located near Tri-Cities Airport, schools, and everyday essentials. Schedule your showing today! * All information believed to be accurate but not guaranteed * Buyer/ buyer agents to to verify.

17. 2024-09-13
    soldstatus $167,000
18. 2016-09-27
    soldstatus $65,000
19. 2016-09-26
    soldstatus $65,000 575-char remark

    Show marketing remark (575 chars)

    Pending before Print. In Misty Waters, a Jewel of a peaceful, Boone Lake Community, you will enjoy many amenities and a leisurely lifestyle associated with a pool, tennis courts, updated clubhouse, a boat dock, and acres of green space/common grounds. This move-in, ready condo has a cathedral ceiling, kitchen with open bar to dining area and Great Room, floor to ceiling stone fireplace, upstairs master suite, ceiling fans, newer decking, and lots of storage. If you love the lake, you'll love living at Misty Waters. Square footage is approximate to be verified by Buyer.

20. 2016-08-19
    listed $65,000 575-char remark

    Show marketing remark (575 chars)

    Pending before Print. In Misty Waters, a Jewel of a peaceful, Boone Lake Community, you will enjoy many amenities and a leisurely lifestyle associated with a pool, tennis courts, updated clubhouse, a boat dock, and acres of green space/common grounds. This move-in, ready condo has a cathedral ceiling, kitchen with open bar to dining area and Great Room, floor to ceiling stone fireplace, upstairs master suite, ceiling fans, newer decking, and lots of storage. If you love the lake, you'll love living at Misty Waters. Square footage is approximate to be verified by Buyer.

21. 2002-01-30
    soldstatus $50,000
22. 1996-01-17
    soldstatus $47,800

ⓘ 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: $727 · $61/mo
• Projected year-2 tax: $1,314 · $109/mo
• Expected delta: +$586/yr (+$49/mo · 80.7%)

ⓘ 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 ≥99°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,683
• − Mortgage interest: −$10,363
• − Property taxes: −$727
• − Insurance: −$925
• − Repairs & maintenance: −$2,295
• − Management: −$2,295
• − HOA: −$3,168
• − Depreciation: −$5,382
• Taxable income: $3,529
• Est. tax owed @ 24.0%: −$847
• After-tax cash flow: $5,351/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: Sullivan County
• NCES district ID: 4703990
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 24% ▼ -10.00%
• Median HH income: $43,263
• Composite: 17.66/100
• National rank: #9030
• State rank: #109 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

• City population: 83,493
• Population (ZIP): 14,200

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 (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Slovak 5% Serbian 3% Italian 2%
• Foreign-born: 1% · Vietnam
• Languages at home: 97% English-only · Vietnamese 1% Spanish 1% German/W. Germanic 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: ▼ -63.76%
• Current HPI: 292.3386
• 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

+297.5% since first listed

7 events — show timeline

• 2026-02-07 Listed $190,000 TVRMLS
• 2024-09-13 Sold (Public Records) $167,000 Public Records
• 2016-09-27 Sold (Public Records) $65,000 Public Records
• 2016-09-26 Sold (MLS) $65,000 TVRMLS
• 2016-08-19 Listed $65,000 TVRMLS
• 2002-01-30 Sold (Public Records) $50,000 Public Records
• 1996-01-17 Sold (Public Records) $47,800 Public Records

Property tax history

+6.2%/yr

Latest (2025): $727 · +78.2% YoY. Source: county tax records.