408 Lynn Rd Apt B · Kingsport, TN 37617

$194,900

2 bd · 3.0 ba · 1,144 sqft · Townhouse public records · 27 Days on market

Built 2000 Est $190k · at est. $100/mo HOA · 7% of rent

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Why this score? — see what drove the F 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 +11.2/30.0
• ARV discount +6.3/15.0
• Livability +3.6/5.0
• DSCR +3.3/10.0
• 1% rule +2.7/10.0
• 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 this beautifully updated 2-bedroom, 2.5-bath condo offering comfort, convenience, and modern finishes throughout. Featuring new flooring, fresh paint, and all new appliances, this home is truly move-in ready. Enjoy the ease of a 2-car garage plus an additional rear parking space with a walk-in entrance-perfect for everyday convenience. The community also offers common areas that include camper/trailer parking, adding extra flexibility for your lifestyle. Located within walking distance to West Ridge High School and 20 minutes to most Tri-Cities destinations, this property combines location and low-maintenance living at it's best. All information deemed reliable but not guaranteed. To be verified by buyer's agent.

Key facts

• Fresh paint
• Rear parking space
• New flooring

Tags

• NEW FLOORING
• FRESH PAINT
• NEW APPLIANCES
• 2 CAR GARAGE
• REAR PARKING SPACE
• LOW MAINTENANCE LIVING

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath townhouse listed at $195k.

Deal economics

• At list price, monthly cash flow is $-75 ($-896/yr) — negative.
• To cash-flow at today's rent, offer at most $182k (6.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (23.3% below list).
• Recommended offer: $149k (23.3% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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.
• 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.
• Zoned schools: Indian Springs Elementary (math 22% / reading 32%, grade F, #496 of 952 statewide, top 55%, 377 students, 0% FRL) — zoned schools average 0% FRL vs 45% district-wide (45 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 139 active listings in the ZIP; 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.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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.
• Current owner paid $86k; list at $195k implies a 125% gain — meaningful room to come down on a strong offer.

Recommended offer $149,429 (23.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
7. 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.
8. 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.
9. 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: 0.77% ✗
• Cap rate: 5.83%
• Cash-on-cash: -1.64%
• DSCR: 0.93
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $189,904
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 Lynn Rd Apt B	0.00mi	2/2.5	1,144 (0%)	1mo	$190,100	$166	98

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: -19.0%
• Equity multiple: 0.33×
• Total profit: $-36,369
• Equity at exit: $29,060

10-year hold

• IRR: -11.6%
• Equity multiple: 0.30×
• Total profit: $-37,928
• Equity at exit: $16,851

Cash invested: $54,572 (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: 139
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,494 medium
• Mortgage (P&I): −$1,022
• Tax from tax record: −$52 /mo · $622/yr
• Insurance: −$81
• HOA: −$100
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $-75

Break-even live

Break-even rent $1,589

Max offer price $181,716

Occupancy floor 100%

Sensitivity live

Price	-10% $36	-5% $-19	+0% $-75	+5% $-130	+10% $-185
Rent	-10% $-193	-5% $-134	+0% $-75	+5% $-16	+10% $43
Rate	-1.0pp $24	-0.5pp $-25	base $-75	+0.5pp $-125	+1.0pp $-177

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $100 · $1,200/yr

Listing history 7 events

1. 2026-05-03
   status Pending 733-char remark

   Show marketing remark (733 chars)

   Welcome to this beautifully updated 2-bedroom, 2.5-bath condo offering comfort, convenience, and modern finishes throughout. Featuring new flooring, fresh paint, and all new appliances, this home is truly move-in ready. Enjoy the ease of a 2-car garage plus an additional rear parking space with a walk-in entrance-perfect for everyday convenience. The community also offers common areas that include camper/trailer parking, adding extra flexibility for your lifestyle. Located within walking distance to West Ridge High School and 20 minutes to most Tri-Cities destinations, this property combines location and low-maintenance living at it's best. All information deemed reliable but not guaranteed. To be verified by buyer's agent.

2. 2026-04-21
   price $194,900 733-char remark

   Show marketing remark (733 chars)

   Welcome to this beautifully updated 2-bedroom, 2.5-bath condo offering comfort, convenience, and modern finishes throughout. Featuring new flooring, fresh paint, and all new appliances, this home is truly move-in ready. Enjoy the ease of a 2-car garage plus an additional rear parking space with a walk-in entrance-perfect for everyday convenience. The community also offers common areas that include camper/trailer parking, adding extra flexibility for your lifestyle. Located within walking distance to West Ridge High School and 20 minutes to most Tri-Cities destinations, this property combines location and low-maintenance living at it's best. All information deemed reliable but not guaranteed. To be verified by buyer's agent.

3. 2026-04-06
   listed $199,900 Active 733-char remark

   Show marketing remark (733 chars)

   Welcome to this beautifully updated 2-bedroom, 2.5-bath condo offering comfort, convenience, and modern finishes throughout. Featuring new flooring, fresh paint, and all new appliances, this home is truly move-in ready. Enjoy the ease of a 2-car garage plus an additional rear parking space with a walk-in entrance-perfect for everyday convenience. The community also offers common areas that include camper/trailer parking, adding extra flexibility for your lifestyle. Located within walking distance to West Ridge High School and 20 minutes to most Tri-Cities destinations, this property combines location and low-maintenance living at it's best. All information deemed reliable but not guaranteed. To be verified by buyer's agent.

4. 2020-03-17
   soldstatus $86,500
5. 2020-03-12
   soldstatus $86,500 324-char remark

   Show marketing remark (324 chars)

   This well maintained condo features. 2 Bedrooms, both with en-suite bathrooms, spacious, lighted walk in closets. Entry level has gleaming hardwoods, nice size dining area, gas corner fireplace and a half bath. Drive under 2 car garage and 1 parking space in rear provides level walk in entrance (no steps in back entrance).

6. 2020-02-13
   listed $89,900 324-char remark

   Show marketing remark (324 chars)

   This well maintained condo features. 2 Bedrooms, both with en-suite bathrooms, spacious, lighted walk in closets. Entry level has gleaming hardwoods, nice size dining area, gas corner fireplace and a half bath. Drive under 2 car garage and 1 parking space in rear provides level walk in entrance (no steps in back entrance).

7. 2001-11-16
   soldstatus $82,500

ⓘ 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: $622 · $52/mo
• Projected year-2 tax: $1,384 · $115/mo
• Expected delta: +$762/yr (+$63/mo · 122.5%)

ⓘ 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 ≥99°F today · 18 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: $17,931
• − Mortgage interest: −$10,917
• − Property taxes: −$622
• − Insurance: −$974
• − Repairs & maintenance: −$1,435
• − Management: −$1,435
• − HOA: −$1,200
• − Depreciation: −$5,670
• Taxable loss: −$4,321
• Est. tax savings @ 24.0%: +$1,037
• After-tax cash flow: $142/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

+136.2% since first listed

7 events — show timeline

• 2026-05-03 Pending — TVRMLS
• 2026-04-21 Price Changed $194,900 TVRMLS
• 2026-04-06 Listed $199,900 TVRMLS
• 2020-03-17 Sold (Public Records) $86,500 Public Records
• 2020-03-12 Sold (MLS) $86,500 TVRMLS
• 2020-02-13 Listed $89,900 TVRMLS
• 2001-11-16 Sold (Public Records) $82,500 Public Records

Property tax history

+1.9%/yr

Latest (2025): $622 · +9.5% YoY. Source: county tax records.