412 Main St · Elizabethton, TN 37643

$190,000

3 bd · 2.0 ba · 1,368 sqft · SingleFamily public records · 7 Days on market

Built 1961 9,300 sqft lot Est $271k · 30% under

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Why this score? — see what drove the B- 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 +25.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +5.5/10.0
• Livability +3.3/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice one level home on dead-end street. Home offers 3 bedroom, 2 bath, great room and den. The den has a fireplace with gas logs. Hardwood flooring. Newer metal roof, central heat and air approx. 1 yr old, newer windows. Fenced back yard with over size patio. Nice large out building. One car carport attached. Information deemed reliable but not guaranteed. Buyers and buyers agent must confirm.

Key facts

• Metal roof
• Updated windows
• Gas fireplace

Tags

• UPDATED WINDOWS
• METAL ROOF
• HARDWOOD FLOORS
• GAS FIREPLACE
• SINGLE LEVEL LIVING
• FLAT CORNER LOT

Property features AI

Finance

• Other: Property zoned residential; Topography: flood zone, level; Lot dimensions approximately 62M x 150 IRR

Exterior

• Parking: Has carport (1 carport space); Driveway with asphalt surface
• Utilities: Public water; Public sewer
• Home design: Single-family house; One level; Residential property in the Sanborn subdivision; Property listed in fixer condition; Corner lot (directions indicate home on left at corner)
• Construction: Brick and vinyl siding construction
• Exterior features: Back yard fencing; Outbuilding on the property; Metal roof

Interior

• Kitchen: Built-in electric oven; Cooktop; Dishwasher; Refrigerator
• Bedrooms: Total of 6 rooms (includes bedrooms and living areas)
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Built-in electric oven, cooktop, dishwasher, refrigerator; Fireplace in den; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $34 ($413/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Cap rate 9.2% vs local median 3.6% in Elizabethton — 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 66/100 on livability (#121 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime A-; Watch: amenities F, commute F, employment F.
• Elizabethton (suburban): math 36% / reading 35% proficiency, ranked #35 of 139 in TN (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Harold Mccormick Elementary (math 27% / reading 32%, grade F, #423 of 952 statewide, top 48%, 380 students, 0% FRL); T A Dugger Junior High School (math 42% / reading 28%, grade F, #65 of 333 statewide, top 20%, 633 students, 0% FRL); Elizabethton High School (math 17% / reading 41%, grade F, #92 of 332 statewide, top 28%, 863 students, 0% FRL) — zoned schools average 0% FRL vs 43% district-wide (43 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 178 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 184 units permitted in Carter County in 2024 (0 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.
• Carter County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.
• Current owner paid $126k; list at $190k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $190,000

Questions for the listing agent

1. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.05% ✓
• Cap rate: 9.20%
• Cash-on-cash: 10.40%
• DSCR: 1.46
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $270,864
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
700a Johnson Ave	0.40mi	3/2.0	1,300 (-5%)	2mo	$270,000	$208	71
1313 Siam Rd	0.73mi	3/2.0	1,380 (+1%)	3mo	$164,250	$119	62
310 2nd St	0.38mi	2/1.0 (-1)	1,325 (-3%)	9mo	$179,900	$136	61
816 Riverview Dr	0.49mi	3/1.5	1,260 (-8%)	2mo	$257,500	$204	60
1212 Thomas Boulevard Blvd	0.64mi	3/1.5	1,304 (-5%)	4mo	$251,000	$192	56
604 2nd St	0.47mi	3/2.0	1,482 (+8%)	10mo	$257,000	$173	56
1013 Siam Rd	0.51mi	3/2.0	1,188 (-13%)	1mo	$160,000	$135	54
910 Fairview St	0.73mi	3/1.0	1,308 (-4%)	3mo	$222,000	$170	52
1102 Broad St St	0.65mi	3/1.5	1,286 (-6%)	10mo	$255,000	$198	50
616 Pine St	0.73mi	3/2.0	1,250 (-9%)	3mo	$295,900	$237	49
218 Old Siam Rd	0.74mi	3/2.0	1,515 (+11%)	1mo	$387,000	$255	47
905 Central Ave	0.70mi	3/2.0	1,200 (-12%)	11mo	$269,000	$224	38

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: -14.9%
• Equity multiple: 0.47×
• Total profit: $-28,423
• Equity at exit: $28,330

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-21,225
• Equity at exit: $16,428

Cash invested: $53,200 (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 37643

• Home prices YoY: -19.3%
• Active inventory: 178
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$44 /mo · $522/yr
• Insurance: −$79
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $34

Break-even live

Break-even rent $1,956

Max offer price $190,000

Occupancy floor 93%

Sensitivity live

Price	-10% $142	-5% $88	+0% $34	+5% $-19	+10% $-73
Rent	-10% $-124	-5% $-45	+0% $34	+5% $113	+10% $192
Rate	-1.0pp $130	-0.5pp $83	base $34	+0.5pp $-15	+1.0pp $-65

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 Ingram St Elizabethton, TN	3.0	2.0	1500	$2,000	$1.33	15d	1	0.25mi

Listing history 17 events

1. 2026-06-22
   days on market $190,000 Active 7 DOM
2. 2026-06-19
   days on market $190,000 Active 5 DOM
3. 2026-06-18
   days on market $190,000 Active 4 DOM
4. 2026-06-17
   days on market $190,000 Active 3 DOM
5. 2026-06-16
   days on market $190,000 Active 2 DOM
6. 2026-06-15
   remarks 699-char remark
7. 2026-06-15
   days on marketlisting id $190,000 Active 1 DOM
8. 2026-04-27
   price $190,000
9. 2026-02-17
   price $194,900
10. 2026-01-07
    listed $199,900 Active
11. 2020-09-14
    soldstatus $126,000
12. 2020-09-08
    soldstatus $126,000 396-char remark

    Show marketing remark (396 chars)

    Nice one level home on dead-end street. Home offers 3 bedroom, 2 bath, great room and den. The den has a fireplace with gas logs. Hardwood flooring. Newer metal roof, central heat and air approx. 1 yr old, newer windows. Fenced back yard with over size patio. Nice large out building. One car carport attached. Information deemed reliable but not guaranteed. Buyers and buyers agent must confirm.

13. 2020-06-16
    listed $134,900 396-char remark

    Show marketing remark (396 chars)

    Nice one level home on dead-end street. Home offers 3 bedroom, 2 bath, great room and den. The den has a fireplace with gas logs. Hardwood flooring. Newer metal roof, central heat and air approx. 1 yr old, newer windows. Fenced back yard with over size patio. Nice large out building. One car carport attached. Information deemed reliable but not guaranteed. Buyers and buyers agent must confirm.

14. 2017-02-06
    soldstatus $94,500
15. 2017-02-03
    soldstatus $94,500 940-char remark

    Show marketing remark (940 chars)

    Located in the heart of downtown Elizabethton, within walking distance of the historic Covered Bridge, City Parks and Walking Trails, this all one level home is situated on a pretty level corner lot. Home has been very well maintained and features an updated metal roof. Open concept living room, that overlooks the river. kitchen and dining with original hardwood flooring. Three bedrooms. Two bathrooms. Large family room with hardwood flooring and a fireplace. Off the family room there is a large patio overlooking the level backyard which is chain link fenced, offering and ideal area for kids and pets. Large Laundry room. Attached one car carport and a good sized storage shed. Central heating and air conditioning. The convenience of this very nice home is very desirable and highly sought after. The well maintained condition of the home makes it move in ready. All info. taken from Tax Records. Buyer/Buyer s Agent to verify all.

16. 2016-04-06
    listed $97,900 940-char remark

    Show marketing remark (940 chars)

    Located in the heart of downtown Elizabethton, within walking distance of the historic Covered Bridge, City Parks and Walking Trails, this all one level home is situated on a pretty level corner lot. Home has been very well maintained and features an updated metal roof. Open concept living room, that overlooks the river. kitchen and dining with original hardwood flooring. Three bedrooms. Two bathrooms. Large family room with hardwood flooring and a fireplace. Off the family room there is a large patio overlooking the level backyard which is chain link fenced, offering and ideal area for kids and pets. Large Laundry room. Attached one car carport and a good sized storage shed. Central heating and air conditioning. The convenience of this very nice home is very desirable and highly sought after. The well maintained condition of the home makes it move in ready. All info. taken from Tax Records. Buyer/Buyer s Agent to verify all.

17. 1998-11-04
    soldstatus $50,000

ⓘ 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: $522 · $44/mo
• Projected year-2 tax: $1,349 · $112/mo
• Expected delta: +$827/yr (+$69/mo · 158.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥97°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: $24,000
• − Mortgage interest: −$10,643
• − Property taxes: −$522
• − Insurance: −$6,068
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$5,527
• Taxable loss: −$2,601
• Est. tax savings @ 24.0%: +$624
• After-tax cash flow: $1,037/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: Elizabethton
• NCES district ID: 4701110
• Math proficiency: 36% ▼ -12.00%
• Reading proficiency: 35% ▼ -8.00%
• Median HH income: $30,800
• Composite: 28.94/100
• National rank: #6630
• State rank: #35 of 139 in TN

Livability — Elizabethton

• Score: 66/100
• State rank: #121
• US rank: #11785

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elizabethton, TN
• City population: 513
• Population (ZIP): 33,690

Population outlook (Carter County) Hauer SSP2

• Today (2025): 54,493 people
• By 2030: 52,639 · -3.4%
• By 2040: 47,929 · -12.0%
• By 2050: 42,877 · -21.3%
• By 2075: 31,487 · -42.2%
• By 2100: 21,979 · -59.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Carter

• 2024 margin: Solid R (+63.2) · D 17.9% · R 81.2%
• 2008→2024 swing: -16.1pp toward R · 2008: -47.2pp · 2024: -63.2pp
• All cycles: 2024: R+63.2 2020: R+61.5 2016: R+64.0 2012: R+52.0 2008: R+47.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.08%
• Current HPI: 321.4024
• 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

+280.0% since first listed

10 events — show timeline

• 2026-04-27 Price Changed $190,000 TVRMLS
• 2026-02-17 Price Changed $194,900 TVRMLS
• 2026-01-07 Listed $199,900 TVRMLS
• 2020-09-14 Sold (Public Records) $126,000 Public Records
• 2020-09-08 Sold (MLS) $126,000 TVRMLS
• 2020-06-16 Listed $134,900 TVRMLS
• 2017-02-06 Sold (Public Records) $94,500 Public Records
• 2017-02-03 Sold (MLS) $94,500 TVRMLS
• 2016-04-06 Listed $97,900 TVRMLS
• 1998-11-04 Sold (Public Records) $50,000 Public Records

Property tax history

-5.1%/yr

Latest (2025): $522 · -56.3% YoY. Source: county tax records.