5355 Parkway Unit 123 · Cosby, TN 37722

$169,000

1 bd · 1.0 ba · 620 sqft · Other · 2 Days on market

Built 2005 2,613 sqft lot $230/mo HOA · 4% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this beautifully maintained 2005 park model offering approximately 620 square feet of comfortable, low-maintenance living in the highly desirable Venture Out at Gatlinburg. Pride of ownership is clear throughout this move-in-ready home, featuring a spacious layout with a stackable washer and dryer conveniently located inside. The well-appointed kitchen includes a gas range, while the inviting living area is highlighted by a cozy gas fireplace, creating the perfect space to relax year-round. Enjoy your morning coffee or unwind in the evening on the welcoming covered front porch, then step out back to your private patio surrounded by concrete--an ideal space for entertaining, grilling, or simply enjoying the peaceful setting. Major updates include a roof that is only two years old, providing years of worry-free ownership. Located inside the gated Venture Out at Gatlinburg community, residents enjoy resort-style amenities including a swimming pool, recreation center, and beautifully maintained common areas. The affordable HOA fee of just $230 per month covers water, sewer, cable television, high-speed fiber internet, and exterior grounds maintenance, making ownership simple and affordable. Location is everything, and this property delivers. You're only about 15 minutes from Gatlinburg, 25-30 minutes from Pigeon Forge and Sevierville, and approximately 20 minutes from Newport, giving you easy access to world-class dining, shopping, entertainment, hiking in the Great Smoky Mountains National Park, and all the attractions East Tennessee has to offer. The 37722 market continues to attract buyers seeking mountain living and vacation homes. Recent sales in the area show a median home sale price of approximately $325,000, with values trending upward year over year, making this an excellent opportunity for a full-time residence, vacation getaway, or investment property. Do not miss your chance to own this meticulously kept home in one of East Tennessee's most desirable gated communities, where comfort, convenience, and the Smoky Mountain lifestyle come together. No STR or long term rentals permitted.

Key facts

• Covered front porch
• Two years old roof
• Gas fireplace

Tags

• STACKABLE WASHER AND DRYER
• GAS RANGE
• GAS FIREPLACE
• COVERED FRONT PORCH
• PRIVATE PATIO
• TWO YEARS OLD ROOF

Property features AI

Finance

• HOA & community: HOA with monthly fee of $230; Community pool; Playground; Gated community; HOA fee includes trash, sewer, grounds maintenance, and water

Exterior

• Parking: No designated parking listed
• Security: Gated community; Security gate
• Utilities: Public water; Public sewer; Electricity available; Water available
• Home design: Residential mobile home; One level; Existing construction
• Construction: Frame construction; Vinyl siding
• Exterior features: Level lot; Has view

Interior

• Kitchen: Eat-in kitchen; Microwave; Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 1 full bathroom
• Other interior: Crawl space basement; 1 fireplace
• Heating & cooling: Electric heat; Heat pump; Central air; Ceiling fan(s)
• Interior features: Ceiling fans
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $169k.

Deal economics

• At list price, monthly cash flow is $4k ($45k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $169k).
• Cap rate 32.9% vs local median 2.2% in Cosby — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Sevier County (rural): math 31% / reading 28% proficiency, ranked #62 of 139 in TN (top 45%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Jones Cove Elementary (math 27% / reading 27%, grade F, #496 of 952 statewide, top 55%, 115 students, 0% FRL); Gatlinburg Pittman High (math 10% / reading 42%, grade F, #117 of 332 statewide, top 37%, 401 students, 0% FRL) — zoned schools average 0% FRL vs 52% district-wide (52 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 171 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,594 units permitted in Sevier County in 2024 (456 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Sevier County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $47k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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 $10k; list at $169k implies a 1679% gain — meaningful room to come down on a strong offer.

Recommended offer $169,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 3.86% ✓
• Cap rate: 32.94%
• Cash-on-cash: 95.17%
• DSCR: 5.23
• GRM: 2.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.00×
• Total profit: $331,304
• Equity at exit: $152,249

10-year hold

• IRR: 99.4%
• Equity multiple: 17.66×
• Total profit: $788,148
• Equity at exit: $328,330

Cash invested: $47,320 (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 37722

• Home prices YoY: 27.9%
• Active inventory: 171
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $6,520 medium
• Mortgage (P&I): −$886
• Tax est. 1.5%: −$211 /mo · $2,535/yr
• Insurance: −$70
• HOA: −$230
• Vacancy / Maint / Mgmt: −$1,369
• Net cashflow: $3,753

Break-even live

Break-even rent $1,770

Max offer price $169,000

Occupancy floor 37%

Sensitivity live

Price	-10% $3,870	-5% $3,811	+0% $3,753	+5% $3,694	+10% $3,636
Rent	-10% $3,238	-5% $3,495	+0% $3,753	+5% $4,010	+10% $4,268
Rate	-1.0pp $3,838	-0.5pp $3,796	base $3,753	+0.5pp $3,709	+1.0pp $3,665

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4949 Ledford Rd Unit 1051743P Cosby, TN	1.0	1.0	667	$6,520	$9.78	15d	1	0.94mi

HOA detail

• Monthly dues: $230 · $2,760/yr
• Likely covers: watersewergasinternetcablelandscapingpoolsecurity

Listing history 3 events

1. 2026-06-19
   days on market $169,000 Active 2 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $169,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 8 d/yr ≥85°F today · 24 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $78,240
• − Mortgage interest: −$9,467
• − Property taxes: −$2,535
• − Insurance: −$845
• − Repairs & maintenance: −$6,259
• − Management: −$6,259
• − HOA: −$2,760
• − Depreciation: −$4,916
• Taxable income: $45,199
• Est. tax owed @ 24.0%: −$10,848
• After-tax cash flow: $34,187/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: Sevier County
• NCES district ID: 4703780
• Math proficiency: 31% ▼ -6.00%
• Reading proficiency: 28% ▼ -4.00%
• Median HH income: $42,730
• Composite: 25.12/100
• National rank: #7527
• State rank: #62 of 139 in TN

Livability — Cosby

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 7,430

Population outlook (Sevier County) Hauer SSP2

• Today (2025): 107,903 people
• By 2030: 113,633 · +5.3%
• By 2040: 123,969 · +14.9%
• By 2050: 132,123 · +22.4%
• By 2075: 148,524 · +37.6%
• By 2100: 153,436 · +42.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 6% Two or more races 4% Native American 2%
• Hispanic origin (detail): Puerto Rican 1% Cuban 1%
• Common ancestry: Slovak 5% Romanian 1% Iranian 1%
• Foreign-born: 4% · Canada, Guatemala, China
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Sevier

• 2024 margin: Solid R (+61.1) · D 18.9% · R 80.1% · Other 1.0%
• 2008→2024 swing: -13.1pp toward R · 2008: -48.1pp · 2024: -61.1pp
• All cycles: 2024: R+61.1 2020: R+57.6 2016: R+61.7 2012: R+54.8 2008: R+48.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 85.12%
• Current HPI: 390.2959
• 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

+2012.5% since first listed

7 events — show timeline

• 2026-06-17 Listed $169,000 TVRMLS
• 2026-06-17 Listed $169,000 REALTRACS as Distributed by MLS Grid
• 2026-06-17 Listed $169,000 GSMAR
• 2026-06-17 Listed $169,000 LAAR
• 2026-06-16 Listed $169,000 Knoxville MLS
• 2004-10-28 Sold (Public Records) $9,500 Public Records
• 2001-08-27 Sold (Public Records) $8,000 Public Records

Property tax history

+0.3%/yr

Latest (2025): $106 · +0.0% YoY. Source: county tax records.