413 Colorado St · Johnson City, TN 37601

$195,000

3 bd · 1.0 ba · 1,060 sqft · SingleFamily public records · 42 Days on market

Built 1945 7,405 sqft lot Est $193k · at est.

---

Why this score? — see what drove the D 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 +14.0/30.0
• ARV discount +7.0/15.0
• DSCR +4.3/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two bedroom one bath home located near downtown Johnson City. Call today to schedule your private viewing today!

Key facts

• 7,405 sq ft lot
• Built 1945
• Listed 42 days

Property features AI

Exterior

• Parking: Gravel parking; Parking pad
• Utilities: Public water; Public sewer
• Home design: Single-family house; One story
• Construction: Vinyl siding; Metal roof
• Exterior features: Side porch; Back yard fencing; Level topography

Interior

• Kitchen: Kitchen includes dishwasher, electric range, microwave, and refrigerator
• Bedrooms: Total of 7 rooms (includes living spaces and bedrooms)
• Flooring: Carpet flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Updated/remodeled interior; Dishwasher, Electric range, Microwave, Refrigerator
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $26 ($318/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 $148k (24.0% below list).
• Recommended offer: $148k (24.0% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.1% in Johnson City — 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 76/100 on livability (#8 in TN, #3,349 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A; Watch: crime D, commute F, employment F.
• Johnson City (urban): math 46% / reading 47% proficiency, ranked #9 of 139 in TN (top 6%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mountain View Elementary (math 22% / reading 27%, grade F, #546 of 952 statewide, top 61%, 498 students, 0% FRL); Indian Trail Middle School (math 48% / reading 43%, grade D+, #28 of 333 statewide, top 8%, 808 students, 0% FRL); Science Hill High School (math 37% / reading 60%, grade D, #13 of 332 statewide, top 4%, 2,401 students, 0% FRL) — zoned schools average 0% FRL vs 44% district-wide (44 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.9%/yr); 206 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 1,155 units permitted in Washington County in 2024 (437 in 5+ unit buildings).
• This rent runs 35% of the median local income ($51k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Washington County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $45k; list at $195k implies a 333% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• 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 $148,109 (24.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — 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. Crime grade is D 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?
5. 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?
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: 0.76% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.58%
• DSCR: 1.03
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $192,920
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1002 Broadway St	0.17mi	2/1.0 (-1)	1,024 (-3%)	14mo	$148,750	$145	70
603 Orleans St	0.16mi	2/2.0 (-1)	1,038 (-2%)	14mo	$215,000	$207	68
704 Georgia St	0.43mi	3/1.0	1,025 (-3%)	10mo	$230,000	$224	66
1415 Saint Louis Street St	0.34mi	2/1.0 (-1)	1,100 (+4%)	8mo	$193,000	$175	66
724 Georgia St	0.44mi	3/1.5	1,092 (+3%)	11mo	$264,900	$243	63
1707 Daytona Dr	0.59mi	3/1.0	960 (-9%)	1mo	$175,000	$182	56
1102 Market St	0.32mi	2/1.0 (-1)	1,144 (+8%)	14mo	$160,000	$140	56
605 Cranberry St	0.19mi	3/2.0	1,206 (+14%)	12mo	$245,000	$203	55
1504 Squibb Dr	0.58mi	3/1.0	1,164 (+10%)	4mo	$218,000	$187	53
805 Maple St	0.61mi	3/1.0	948 (-11%)	2mo	$159,900	$169	52
900 Grover St	0.70mi	2/1.0 (-1)	960 (-9%)	2mo	$134,500	$140	44
1200 Afton St	0.68mi	3/1.0	950 (-10%)	13mo	$80,000	$84	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 · 4.88% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.50×
• Total profit: $-27,162
• Equity at exit: $29,075

10-year hold

• IRR: -2.5%
• Equity multiple: 0.82×
• Total profit: $-9,730
• Equity at exit: $16,860

Cash invested: $54,600 (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 37601

• Home prices YoY: -21.4%
• Rents YoY: 4.9%
• Active inventory: 206
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,481 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$40 /mo · $477/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $26

Break-even live

Break-even rent $1,448

Max offer price $195,000

Occupancy floor 93%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1319 Bell Ridge Rd Johnson City, TN	2.0–4.0	2.0	1204	$1,468	$1.22	21d	6	0.31mi
1411 Saint Louis St Johnson City, TN	2.0	1.0	1100	$1,125	$1.02	44d	1	0.33mi
716 King Springs Rd #5 Johnson City, TN	2.0	1.5	1500	$1,250	$0.83	44d	1	0.55mi
169 Grand Ave #300 heuristic Johnson City, TN	2.0	2.0	792	$2,500	$3.16	25d	1	0.72mi
169 Grande Ave #100 heuristic Johnson City, TN	2.0	2.0	1080	$2,500	$2.31	25d	1	0.72mi
169 Grand Ave #401 heuristic Johnson City, TN	2.0	2.0	792	$2,500	$3.16	25d	1	0.72mi
169 Grand Ave #101 heuristic Johnson City, TN	2.0	2.0	1080	$2,500	$2.31	25d	1	0.72mi
169 Grande Ave #200 heuristic Johnson City, TN	2.0	2.0	1080	$2,500	$2.31	25d	1	0.72mi
168 E Grande Ave Unit 04 Johnson City, TN	2.0	2.0	800	$1,350	$1.69	21d	1	0.75mi
1700 Dave Buck Rd Johnson City, TN	2.0–3.0	2.0	1041	$1,470	$1.41	13d	4	0.80mi
1507 Linden St Unit 25 Johnson City, TN	2.0	1.5	1150	$1,125	$0.98	13d	1	0.88mi
116 E Market St Johnson City, TN	2.0	2.5	1249	$1,700	$1.36	13d	1	1.04mi
703 E Unaka Ave Unit 1 Johnson City, TN	2.0	1.0	1421	$1,300	$0.91	44d	1	1.07mi
1010 Buffalo St Unit 3 Johnson City, TN	2.0	1.0	861	$1,300	$1.51	44d	1	1.13mi
404 W Maple St Unit 1 Johnson City, TN	2.0	1.0	1000	$1,050	$1.05	44d	1	1.24mi
81 Charleston Sq Johnson City, TN	1.0–3.0	1.0–2.0	734	$1,295	$1.76	13d	4	1.26mi
704 Swadley Rd Johnson City, TN	2.0–3.0	1.5–3.5	1800	$2,200	$1.22	13d	2	1.28mi
606 Swadley Rd Johnson City, TN	1.0–2.0	1.0–2.5	1300	$1,700	$1.31	13d	1	1.33mi
111 W Unaka Ave Apt 2 Johnson City, TN	2.0	1.5	1150	$1,450	$1.26	44d	1	1.34mi
512 Swadley Rd Johnson City, TN	2.0–4.0	2.0	1068	$1,440	$1.35	13d	6	1.44mi
268 W Main St Unit WM-06 Johnson City, TN	2.0	1.0	960	$1,350	$1.41	13d	1	1.45mi
2560 Plymouth Rd Johnson City, TN	2.0–3.0	2.0	1163	$1,040	$0.89	13d	1	1.50mi

Listing history 21 events

1. 2026-06-19
   remarks 699-char remark
2. 2026-06-19
   statusdays on market $195,000 Active 42 DOM
3. 2026-06-18
   days on market $195,000 Active Under Contract 41 DOM
4. 2026-06-17
   days on market $195,000 Active Under Contract 40 DOM
5. 2026-06-16
   days on market $195,000 Active Under Contract 39 DOM
6. 2026-06-15
   days on market $195,000 Active Under Contract 38 DOM
7. 2026-06-14
   days on market $195,000 Active Under Contract 36 DOM
8. 2026-06-13
   days on market $195,000 Active Under Contract 35 DOM
9. 2026-06-10
   days on market $195,000 Active Under Contract 33 DOM
10. 2026-06-09
    statusdays on market $195,000 Active Under Contract 32 DOM
11. 2026-06-08
    days on market $195,000 Active 31 DOM
12. 2026-06-07
    statusdays on market $195,000 Active 30 DOM
13. 2026-06-02
    days on market $195,000 Active Under Contract 25 DOM
14. 2026-06-01
    days on market $195,000 Active Under Contract 24 DOM
15. 2026-05-31
    days on market $195,000 Active Under Contract 23 DOM
16. 2026-05-30
    days on market $195,000 Active Under Contract 22 DOM
17. 2026-05-11
    historical Active Under Contract
18. 2026-05-08
    listed $195,000 Active
19. 2019-10-15
    soldstatus $45,000 112-char remark

    Show marketing remark (112 chars)

    Two bedroom one bath home located near downtown Johnson City. Call today to schedule your private viewing today!

20. 2019-08-12
    listed $53,000 112-char remark

    Show marketing remark (112 chars)

    Two bedroom one bath home located near downtown Johnson City. Call today to schedule your private viewing today!

21. 1983-08-12
    soldstatus $12,000

ⓘ 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: $477 · $40/mo
• Projected year-2 tax: $1,384 · $115/mo
• Expected delta: +$908/yr (+$76/mo · 190.3%)

ⓘ 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 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,773
• − Mortgage interest: −$10,923
• − Property taxes: −$477
• − Insurance: −$975
• − Repairs & maintenance: −$1,422
• − Management: −$1,422
• − Depreciation: −$5,673
• Taxable loss: −$3,118
• Est. tax savings @ 24.0%: +$748
• After-tax cash flow: $1,066/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: Johnson City
• NCES district ID: 4702130
• Math proficiency: 46% ▼ -14.00%
• Reading proficiency: 47% ▼ -2.00%
• Median HH income: $37,514
• Composite: 38.69/100
• National rank: #4143
• State rank: #9 of 139 in TN

Livability — Johnson City

• Score: 76/100
• State rank: #8
• US rank: #3349

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Johnson City, TN
• County: Washington County · 129,006 people
• City population: 99,926
• Metro: Johnson City, TN
• Population (ZIP): 38,008
• Household income: $50,686
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 1464.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 132,816 people
• By 2030: 135,823 · +2.3%
• By 2040: 140,897 · +6.1%
• By 2050: 145,073 · +9.2%
• By 2075: 156,386 · +17.7%
• By 2100: 159,893 · +20.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 7% Black 6% Hispanic / Latino 5% Asian 2%
• Common ancestry: Serbian 3% Slovak 2% Iranian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Arabic 1% Chinese 1%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+39.5) · D 29.6% · R 69.1% · Other 1.3%
• 2008→2024 swing: -6.0pp toward R · 2008: -33.5pp · 2024: -39.5pp
• All cycles: 2024: R+39.5 2020: R+36.2 2016: R+42.9 2012: R+38.5 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -79.16%
• Current HPI: 290.506
• Rent YoY: ▲ 4.88%
• Metro: Johnson City, TN
• 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

+1525.0% since first listed

5 events — show timeline

• 2026-05-11 Contingent — TVRMLS
• 2026-05-08 Listed $195,000 TVRMLS
• 2019-10-15 Sold (MLS) $45,000 TVRMLS
• 2019-08-12 Listed $53,000 TVRMLS
• 1983-08-12 Sold (Public Records) $12,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $477 · +0.0% YoY. Source: county tax records.