2023 Enterprise Rd · Bristol, TN 37686

$185,000

4 bd · 1.0 ba · 1,467 sqft · SingleFamily public records · 4 Days on market

Built 1922 0.52 ac lot $126/sqft · 49% below area Est $364k · 49% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 2023 Enterprise Rd, a charming, rustic farmhouse just minutes away from Boone Lake. Situated on over a half acre of gently rolling land, this property provides the quiet, old-time charm the Appalachian Region is famous for. This property offers 4 bedrooms spanning two floors, offering ample room for families, guests, or a home office setup. Upstairs, a bonus room offers the flexibility for a media room, game room, or extra gathering area. Whether you are looking for a peaceful mountain retreat or place to put down roots, this blend of comfort, character, and charm is a great place to enjoy Tennessee living.

Key facts

• Half acre land
• Bonus room
• 0.52 acre lot

Tags

• HALF ACRE LAND
• BONUS ROOM
• PEACEFUL MOUNTAIN RETREAT

Property features AI

Exterior

• Parking: Carport (1 space); Driveway with gravel
• Security: Smoke detector(s)
• Utilities: Public water; Septic sewer
• Home design: Single family residence; Two levels; House; Zoned R-1
• Construction: Vinyl siding; Metal roof
• Exterior features: Front porch; Rear porch; Outbuilding/shed; Sloped lot

Interior

• Kitchen: Built-in electric oven; Dishwasher; Microwave; Range
• Bedrooms: Total rooms: 9
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in electric oven; Dishwasher; Microwave; Range; Smoke detector(s); Front porch; Rear porch; Storm door(s)
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $822 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Cap rate 11.6% vs local median 3.8% in Bristol — 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 73/100 on livability (#24 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, commute F, employment 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: Bluff City Elementary (math 14% / reading 24%, grade F, #687 of 952 statewide, top 72%, 585 students, 0% FRL); Sullivan East Middle School (math 8% / reading 11%, grade F, #260 of 333 statewide, top 79%, 573 students, 0% FRL); Sullivan East High School (math 10% / reading 27%, grade F, #208 of 332 statewide, top 63%, 849 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: 87 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $185,000

Questions for the listing agent

1. Built in 1922 — 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 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. 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: 1.32% ✓
• Cap rate: 11.62%
• Cash-on-cash: 19.03%
• DSCR: 1.85
• GRM: 6.3

CMA / ARV

• ARV (median comp): $363,784
• List price: $185,000
• Delta: -49.15%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2023 Enterprise Rd	0.00mi	4/1.0	1,467 (0%)	1mo	$200,000	$136	100
237 Charlie Ave	0.71mi	3/2.0 (-1)	1,629 (+11%)	12mo	$390,000	$239	29

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: 10.9%
• Equity multiple: 1.43×
• Total profit: $22,282
• Equity at exit: $27,584

10-year hold

• IRR: 19.9%
• Equity multiple: 2.67×
• Total profit: $86,504
• Equity at exit: $15,995

Cash invested: $51,800 (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 37686

• Home prices YoY: -10.2%
• Active inventory: 87
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,441 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$59 /mo · $710/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$513
• Net cashflow: $822

Break-even live

Break-even rent $1,401

Max offer price $185,000

Occupancy floor 61%

Sensitivity live

Price	-10% $926	-5% $874	+0% $822	+5% $769	+10% $717
Rent	-10% $629	-5% $725	+0% $822	+5% $918	+10% $1,014
Rate	-1.0pp $915	-0.5pp $869	base $822	+0.5pp $774	+1.0pp $725

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-03
   status Pending 626-char remark
2. 2026-04-29
   listed $185,000 Active 626-char remark

ⓘ 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: $710 · $59/mo
• Projected year-2 tax: $1,314 · $109/mo
• Expected delta: +$604/yr (+$50/mo · 85.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 20 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: $29,286
• − Mortgage interest: −$10,363
• − Property taxes: −$710
• − Insurance: −$925
• − Repairs & maintenance: −$2,343
• − Management: −$2,343
• − Depreciation: −$5,382
• Taxable income: $7,221
• Est. tax owed @ 24.0%: −$1,733
• After-tax cash flow: $8,126/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 — Bristol

• Score: 73/100
• State rank: #24
• US rank: #5413

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 38,494
• Population (ZIP): 9,149

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 (92%)
• Race & ethnicity: White 92% Asian 3% Hispanic / Latino 2% Two or more races 2% Black 1%
• Common ancestry: Iranian 7% Slovak 3% Serbian 3%
• Foreign-born: 1%
• Languages at home: 99% English-only · 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: ▼ -34.96%
• Current HPI: 306.7377
• 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

+8.1% since first listed

4 events — show timeline

• 2026-06-03 Sold (Public Records) $200,000 Public Records
• 2026-06-03 Sold (MLS) $200,000 TVRMLS
• 2026-05-03 Pending — TVRMLS
• 2026-04-29 Listed $185,000 TVRMLS

Property tax history

+4.8%/yr

Latest (2025): $710 · +34.2% YoY. Source: county tax records.