2290 Mcclanahan Rd · Morristown, TN 37813

$175,000

3 bd · 2.0 ba · 1,264 sqft · SingleFamily public records · 6 Days on market

Built 2001 1.00 ac lot Est $308k · 43% under

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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 +15.8/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• 1% rule +3.2/10.0
• 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

ATTN CASH BUYERS & INVESTORS! Welcome to this charming property at 2290 McClanahan Rd offering peaceful East Tennessee living with plenty of potential. Nestled in a convenient Morristown location, just minutes Merchants Green- this home features a spacious layout, a large yard, and the opportunity to make it your own. Whether you're looking for a primary residence, investment property, or renovation opportunity, this property has endless possibilities. Enjoy the quiet surroundings while still being just minutes from shopping, dining, schools, and Cherokee Lake. This property is being sold AS-IS. Buyer and buyer's agent to verify all information.

Key facts

• Cherokee lake
• Large yard
• Morristown location

Tags

• MORRISTOWN LOCATION
• LARGE YARD
• RENOVATION OPPORTUNITY
• CHEROKEE LAKE

Property features AI

Exterior

• Utilities: Septic tank for sewer
• Home design: Single-family house; One story
• Construction: Shingle roof
• Exterior features: Rain gutters; Back yard; Front yard

Interior

• Kitchen: Electric oven; Microwave; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Screens on windows; 8 total rooms
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $81 ($971/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 $144k (18.0% below list).
• Recommended offer: $144k (18.0% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: Witt Elementary (math 42% / reading 32%, grade F, #272 of 952 statewide, top 31%, 215 students, 0% FRL); Lincoln Heights Middle School (math 23% / reading 18%, grade F, #194 of 333 statewide, top 59%, 561 students, 0% FRL); Morristown West High (math 13% / reading 44%, grade F, #96 of 332 statewide, top 30%, 1,506 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: 149 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $115k; list at $175k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $143,579 (18.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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?
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: 0.82% ✗
• Cap rate: 6.85%
• Cash-on-cash: 1.98%
• DSCR: 1.09
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $308,416
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2290 Mcclanahan Rd	0.00mi	3/1.0	1,264 (0%)	0mo	$150,000	$119	96
2262 Fernwood Church Rd	0.10mi	3/1.5	1,194 (-6%)	7mo	$291,000	$244	78

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: -13.2%
• Equity multiple: 0.52×
• Total profit: $-23,280
• Equity at exit: $26,093

10-year hold

• IRR: -4.3%
• Equity multiple: 0.72×
• Total profit: $-13,939
• Equity at exit: $15,131

Cash invested: $49,000 (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 37813

• Home prices YoY: -12.9%
• Active inventory: 149
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,436 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$63 /mo · $753/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $81

Break-even live

Break-even rent $1,333

Max offer price $175,000

Occupancy floor 89%

Sensitivity live

Price	-10% $180	-5% $130	+0% $81	+5% $31	+10% $-18
Rent	-10% $-33	-5% $24	+0% $81	+5% $138	+10% $194
Rate	-1.0pp $169	-0.5pp $125	base $81	+0.5pp $36	+1.0pp $-11

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-05
   statusdays on market $175,000 Pending 6 DOM
2. 2026-06-02
   days on market $175,000 Active 4 DOM
3. 2026-06-01
   days on market $175,000 Active 3 DOM
4. 2026-05-31
   days on market $175,000 Active 2 DOM
5. 2026-05-30
   pricestatus $175,000 Active 1 DOM
6. 2026-05-23
   status Pending
7. 2026-05-14
   listed $195,000 Active
8. 2021-03-02
   soldstatus $115,000
9. 2004-12-16
   soldstatus $78,900

ⓘ 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: $753 · $63/mo
• Projected year-2 tax: $1,242 · $104/mo
• Expected delta: +$490/yr (+$41/mo · 65.0%)

ⓘ 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 ≥101°F today · 19 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: $17,229
• − Mortgage interest: −$9,803
• − Property taxes: −$753
• − Insurance: −$875
• − Repairs & maintenance: −$1,378
• − Management: −$1,378
• − Depreciation: −$5,091
• Taxable loss: −$2,049
• Est. tax savings @ 24.0%: +$492
• After-tax cash flow: $1,462/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

• City population: 35,239
• Population (ZIP): 17,479

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 21% Two or more races 10% Black 2% Pacific Islander 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Iranian 1% Serbian 1% Slovak 1%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 83% English-only · Spanish 15% 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: ▼ -44.81%
• Current HPI: 302.4655
• 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

+147.1% since first listed

4 events — show timeline

• 2026-05-23 Pending — LAAR
• 2026-05-14 Listed $195,000 LAAR
• 2021-03-02 Sold (Public Records) $115,000 Public Records
• 2004-12-16 Sold (Public Records) $78,900 Public Records

Property tax history

+4.4%/yr

Latest (2025): $753 · +36.4% YoY. Source: county tax records.