309 Summerville Rd · Colonial Heights, TN 37663

$249,900

3 bd · 3.0 ba · 1,998 sqft · SingleFamily public records · 62 Days on market

Built 1974 0.49 ac lot $125/sqft · 21% below area Est $319k · 22% under

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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 +20.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +4.2/10.0
• Livability +3.4/5.0
• 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

Welcome to Summerville Road! This conveniently located home is ready for its new owner. Situated just minutes from Historic Downtown Kingsport, Cattails Golf Course, and schools serving grades K-12, this property offers both accessibility and charm in an ideal location. Step inside to discover a carpet-free interior designed for easy maintenance and modern living. The main level features tile flooring throughout the living area and kitchen, creating a cohesive and durable space. This level also includes a full bathroom, a two-car garage, and a dedicated washer and dryer hookup for added convenience. Upstairs is where comfort and versatility come together. This level boasts beautiful hardwood flooring, three spacious bedrooms, and an additional full bathroom. A flexible lounge area provides the perfect opportunity to create a second living space, home office, or entertainment area. Each bedroom offers its own closet and ample room to accommodate your needs. Situated on a generous 0.49-acre lot, this home showcases scenic views of the surrounding Kingsport mountains. Enjoy the outdoors, take in the natural beauty, and make the most of the space this property provides. Schedule your private showing today and experience all this home has to offer! Buyer and Buyer Agent to Verify All Information.

Key facts

• Hardwood flooring
• Tile flooring
• Two car garage

Tags

• TILE FLOORING
• TWO CAR GARAGE
• WASHER AND DRYER HOOKUP
• HARDWOOD FLOORING
• FLEXIBLE LOUNGE AREA
• SCENIC VIEWS

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $330 ($4k/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 $230k (8.1% below list).
• Recommended offer: $230k (8.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#94 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute 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: 99 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 453 units permitted in Sullivan County in 2024 (6 in 5+ unit buildings).
• This rent runs 36% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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

• It's been on market 62 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $74k; list at $250k implies a 238% gain — meaningful room to come down on a strong offer.

Recommended offer $229,727 (8.1% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.92% ✗
• Cap rate: 7.88%
• Cash-on-cash: 5.66%
• DSCR: 1.25
• GRM: 9.1

CMA / ARV

• ARV (median comp): $319,400
• List price: $249,900
• Delta: -21.76%
• 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
220 Blue Haven Dr	0.09mi	4/2.0 (+1)	1,901 (-5%)	6mo	$362,000	$190	74
328 Blue Haven Dr	0.13mi	3/2.5	2,143 (+7%)	10mo	$285,000	$133	72
321 Summerville Rd	0.05mi	3/2.0	1,890 (-5%)	19mo	$269,000	$142	68
341 Summerville Rd	0.15mi	3/2.5	2,156 (+8%)	15mo	$299,000	$139	65
603 Wessex Dr	0.27mi	3/3.0	2,193 (+10%)	17mo	$383,000	$175	56
376 Rock Springs Rd	0.64mi	3/2.5	1,989 (-0%)	16mo	$285,000	$143	54
4309 Nickleby Ct	0.37mi	3/2.5	2,158 (+8%)	16mo	$395,000	$183	54
4105 Nickleby Ct	0.47mi	3/2.0	1,752 (-12%)	1mo	$335,000	$191	53
1723 Bridle Ct	0.64mi	3/2.5	2,124 (+6%)	13mo	$341,500	$161	47
4205 Roderick Ct	0.43mi	3/2.5	2,248 (+12%)	13mo	$442,000	$197	46
4008 Nickleby Ct	0.50mi	3/2.0	1,772 (-11%)	12mo	$381,000	$215	44
217 Holland Dr	0.55mi	4/2.0 (+1)	2,288 (+14%)	1mo	$214,900	$94	40

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: -7.6%
• Equity multiple: 0.72×
• Total profit: $-19,593
• Equity at exit: $37,261

10-year hold

• IRR: 1.9%
• Equity multiple: 1.14×
• Total profit: $9,536
• Equity at exit: $21,607

Cash invested: $69,972 (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 37663

• Home prices YoY: -26.1%
• Active inventory: 99
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,297 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$70 /mo · $843/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $330

Break-even live

Break-even rent $1,880

Max offer price $249,900

Occupancy floor 81%

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1311 Carrberry Ct Kingsport, TN	3.0	2.5	2523	$2,300	$0.91	13d	1	0.73mi
3711 Apple Grove Cir Kingsport, TN	4.0	2.5	2010	$2,200	$1.09	21d	1	1.49mi

Listing history 5 events

1. 2026-06-13
   statusdays on market $249,900 Pending 62 DOM
2. 2026-04-20
   price $249,900 1318-char remark

   Show marketing remark (1318 chars)

   Welcome to Summerville Road! This conveniently located home is ready for its new owner. Situated just minutes from Historic Downtown Kingsport, Cattails Golf Course, and schools serving grades K-12, this property offers both accessibility and charm in an ideal location. Step inside to discover a carpet-free interior designed for easy maintenance and modern living. The main level features tile flooring throughout the living area and kitchen, creating a cohesive and durable space. This level also includes a full bathroom, a two-car garage, and a dedicated washer and dryer hookup for added convenience. Upstairs is where comfort and versatility come together. This level boasts beautiful hardwood flooring, three spacious bedrooms, and an additional full bathroom. A flexible lounge area provides the perfect opportunity to create a second living space, home office, or entertainment area. Each bedroom offers its own closet and ample room to accommodate your needs. Situated on a generous 0.49-acre lot, this home showcases scenic views of the surrounding Kingsport mountains. Enjoy the outdoors, take in the natural beauty, and make the most of the space this property provides. Schedule your private showing today and experience all this home has to offer! Buyer and Buyer Agent to Verify All Information.

3. 2026-03-27
   listed $269,000 Active 1318-char remark

   Show marketing remark (1318 chars)

   Welcome to Summerville Road! This conveniently located home is ready for its new owner. Situated just minutes from Historic Downtown Kingsport, Cattails Golf Course, and schools serving grades K-12, this property offers both accessibility and charm in an ideal location. Step inside to discover a carpet-free interior designed for easy maintenance and modern living. The main level features tile flooring throughout the living area and kitchen, creating a cohesive and durable space. This level also includes a full bathroom, a two-car garage, and a dedicated washer and dryer hookup for added convenience. Upstairs is where comfort and versatility come together. This level boasts beautiful hardwood flooring, three spacious bedrooms, and an additional full bathroom. A flexible lounge area provides the perfect opportunity to create a second living space, home office, or entertainment area. Each bedroom offers its own closet and ample room to accommodate your needs. Situated on a generous 0.49-acre lot, this home showcases scenic views of the surrounding Kingsport mountains. Enjoy the outdoors, take in the natural beauty, and make the most of the space this property provides. Schedule your private showing today and experience all this home has to offer! Buyer and Buyer Agent to Verify All Information.

4. 1996-05-08
   soldstatus $74,000
5. 1994-10-18
   soldstatus $68,000

ⓘ 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: $843 · $70/mo
• Projected year-2 tax: $1,774 · $148/mo
• Expected delta: +$931/yr (+$78/mo · 110.5%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 21 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: $27,567
• − Mortgage interest: −$13,998
• − Property taxes: −$843
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,205
• − Management: −$2,205
• − Depreciation: −$7,270
• Taxable loss: −$204
• Est. tax savings @ 24.0%: +$49
• After-tax cash flow: $4,009/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 — Colonial Heights

• Score: 67/100
• State rank: #94
• US rank: #10163

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Colonial Heights, TN
• County: Sullivan County · 121,987 people
• Metro: Kingsport-Bristol, TN-VA
• Population (ZIP): 14,230
• Household income: $76,007
• Rent vs Own: 18.1% rent · 81.9% own
• Severe rent burden: 173.0

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% Asian 2% Hispanic / Latino 2%
• Common ancestry: Serbian 5% Italian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 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: ▼ -90.38%
• Current HPI: 255.7206
• Rent YoY: —
• 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

+267.5% since first listed

4 events — show timeline

• 2026-04-20 Price Changed $249,900 TVRMLS
• 2026-03-27 Listed $269,000 TVRMLS
• 1996-05-08 Sold (Public Records) $74,000 Public Records
• 1994-10-18 Sold (Public Records) $68,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $843 · -4.6% YoY. Source: county tax records.