1612 N Liberty Hill Rd · Morristown, TN 37814

$120,000

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 16 Days on market

Built 1959 0.31 ac lot $156/sqft · 28% below area Est $167k · 28% 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 +21.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +4.5/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Handyman Special on a Beautiful Lot -- Bonus Metal Building! Calling all investors, flippers, and DIY enthusiasts! This property at 1612 N Liberty Hill in Morristown is a true handyman special priced to reflect its condition. The home needs significant work throughout, but the bones are here and the upside is real. Two major value-adds are already in place: a metal roof less than 5 years old means you can pour your budget into cosmetic and mechanical updates instead of worrying about what's overhead, and a metal building in the backyard delivers instant storage, workshop, or hobby space -- a feature buyers love and a real bonus at this price point. Set on a nice lot with great potential, t

Key facts

• Workshop space
• Metal roof
• Storage space

Tags

• METAL ROOF
• STORAGE SPACE
• WORKSHOP SPACE
• HOBBY SPACE

Property features AI

Exterior

• Utilities: Electricity available; Water available; Public maintained road access; City street frontage
• Home design: Single-family residence; One story
• Construction: Block foundation; Unknown construction materials; Built as a house
• Exterior features: Back yard; Corner lot; Shed(s) and storage

Interior

• Kitchen: Electric oven
• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Metal fireplace; Electric oven
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $175 ($2k/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 $115k (4.6% below list).
• Recommended offer: $115k (4.6% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 2.9% in Morristown — 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 64/100 on livability (#175 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime F, amenities F, commute F.
• Hamblen County (urban): math 31% / reading 30% proficiency, ranked #57 of 139 in TN (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Morristown East High (math 12% / reading 37%, grade F, #129 of 332 statewide, top 43%, 1,572 students, 0% FRL) — zoned schools average 0% FRL vs 54% district-wide (54 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 330 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 298 units permitted in Hamblen County in 2024 (48 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $70k; list at $120k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — 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 $114,534 (4.6% below list)

Questions for the listing agent

1. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.95% ✗
• Cap rate: 8.04%
• Cash-on-cash: 6.23%
• DSCR: 1.28
• GRM: 8.7

CMA / ARV

• ARV (median comp): $166,611
• List price: $120,000
• Delta: -27.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1709 N Liberty Hill Rd Rd	0.08mi	2/1.0	750 (-2%)	23mo	$200,000	$267	73
2180 Brights Pike	0.40mi	2/1.0	720 (-6%)	19mo	$187,000	$260	55
1449 N Easley Ct	0.63mi	3/2.0 (+1)	880 (+15%)	8mo	$205,000	$233	31

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: -6.7%
• Equity multiple: 0.75×
• Total profit: $-8,374
• Equity at exit: $17,892

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $6,842
• Equity at exit: $10,375

Cash invested: $33,600 (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 37814

• Home prices YoY: -17.1%
• Active inventory: 330
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,145 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$51 /mo · $612/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $175

Break-even live

Break-even rent $924

Max offer price $120,000

Occupancy floor 80%

Sensitivity live

Price	-10% $242	-5% $208	+0% $175	+5% $141	+10% $107
Rent	-10% $84	-5% $129	+0% $175	+5% $220	+10% $265
Rate	-1.0pp $235	-0.5pp $205	base $175	+0.5pp $143	+1.0pp $112

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2429 Buffalo Trl Unit 2 Morristown, TN	1.0	1.0	650	$1,000	$1.54	44d	1	0.82mi
1621 Jefferson St Morristown, TN	1.0	1.0	1100	$1,099	$1.00	44d	1	0.83mi
1623 Jefferson St Morristown, TN	1.0	1.0	550	$1,099	$2.00	44d	1	0.84mi
1020 E Main St Unit 2 Morristown, TN	1.0	1.0	980	$1,100	$1.12	44d	1	1.20mi

Listing history 8 events

1. 2026-06-13
   status $120,000 Pending 16 DOM
2. 2026-06-12
   days on market $120,000 Active 16 DOM
3. 2026-06-09
   days on market $120,000 Active 13 DOM
4. 2026-06-08
   days on market $120,000 Active 12 DOM
5. 2026-06-07
   statusdays on market $120,000 Active 11 DOM
6. 2026-05-17
   status Pending 918-char remark
7. 2026-05-07
   listed $120,000 Active 918-char remark
8. 1993-12-28
   soldstatus $70,000

ⓘ 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: $612 · $51/mo
• Projected year-2 tax: $852 · $71/mo
• Expected delta: +$240/yr (+$20/mo · 39.1%)

ⓘ 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 ≥102°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,744
• − Mortgage interest: −$6,722
• − Property taxes: −$612
• − Insurance: −$600
• − Repairs & maintenance: −$1,100
• − Management: −$1,100
• − Depreciation: −$3,491
• Taxable income: $120
• Est. tax owed @ 24.0%: −$29
• After-tax cash flow: $2,065/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: Hamblen County
• NCES district ID: 4700001
• Math proficiency: 31% ▼ -5.00%
• Reading proficiency: 30% ▼ -4.00%
• Median HH income: $39,361
• Composite: 25.61/100
• National rank: #7412
• State rank: #57 of 139 in TN

Livability — Morristown

• Score: 64/100
• State rank: #175
• US rank: #14625

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morristown, TN
• County: Hamblen County · 35,239 people
• City population: 35,239
• Metro: Morristown, TN
• Population (ZIP): 35,239
• Household income: $55,650
• Rent vs Own: 33.5% rent · 66.5% own
• Severe rent burden: 1001.0

Population outlook (Hamblen County) Hauer SSP2

• Today (2025): 65,185 people
• By 2030: 65,707 · +0.8%
• By 2040: 66,189 · +1.5%
• By 2050: 65,798 · +0.9%
• By 2075: 62,642 · -3.9%
• By 2100: 55,702 · -14.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 16% Two or more races 12% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 2%
• Common ancestry: Slovak 3% Lithuanian 2% Serbian 2%
• Foreign-born: 8% · Canada
• Languages at home: 85% English-only · Spanish 13% Other Asian/Pacific 1%

Political lean MEDSL · Hamblen

• 2024 margin: Solid R (+58.9) · D 20.1% · R 79.0%
• 2008→2024 swing: -20.5pp toward R · 2008: -38.4pp · 2024: -58.9pp
• All cycles: 2024: R+58.9 2020: R+54.0 2016: R+57.2 2012: R+46.4 2008: R+38.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.88%
• Current HPI: 299.6486
• Rent YoY: —
• Metro: Morristown, 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

+71.4% since first listed

5 events — show timeline

• 2026-06-13 Pending — LAAR
• 2026-06-05 Relisted — LAAR
• 2026-05-17 Pending — LAAR
• 2026-05-07 Listed $120,000 LAAR
• 1993-12-28 Sold (Public Records) $70,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $612 · +33.7% YoY. Source: county tax records.