220 Elizabeth St · Bristol, TN 37620

$114,900

2 bd · 1.0 ba · 624 sqft · SingleFamily public records · 15 Days on market

Built 1948 7,405 sqft lot Est $129k · 11% 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 +23.9/30.0
• ARV discount +12.3/15.0
• DSCR +7.7/10.0
• 1% rule +5.3/10.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable and conveniently located! This economical hillside cottage is situated just 2 minutes from King University and is a quick drive from beautiful downtown Bristol TN/VA. With lots of potential to put your personal touch on every room, this home could be the smart investment you've been looking for. As you enter from the covered front porch, you'll step into the living room and then to the kitchen, both of which feature beautiful hardwood flooring. The country-style kitchen provides plenty of cabinet space and opens onto the patio and backyard. Downstairs, you'll find a mostly finished walkout basement with a den and storage areas, giving you the chance to expand upon your living

Key facts

• Covered front porch
• Hardwood flooring
• Hillside cottage

Tags

• HILLSIDE COTTAGE
• COVERED FRONT PORCH
• HARDWOOD FLOORING
• COUNTRY-STYLE KITCHEN
• PATIO AND BACKYARD
• TWO SHEDS

Property features AI

Exterior

• Parking: Driveway (gravel)
• Utilities: Public water; Public sewer; Electricity connected
• Home design: Single-family house; Two levels
• Construction: Aluminum siding; Shingle roof; Block foundation; Built with a partially finished below-grade area
• Exterior features: Front porch; Shed(s) and storage; Rolling slope topography

Interior

• Kitchen: Range; Refrigerator
• Flooring: Hardwood; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Double pane windows; Partially finished walk-out basement with block construction

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% 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.
• Bristol (urban): math 37% / reading 35% proficiency, ranked #29 of 139 in TN (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fairmount Elementary (math 28% / reading 21%, grade F, #546 of 952 statewide, top 61%, 349 students, 0% FRL); Bristol Tennessee Middle School (math 37% / reading 29%, grade F, #77 of 333 statewide, top 24%, 883 students, 0% FRL); Tennessee High School (math 20% / reading 41%, grade F, #75 of 332 statewide, top 24%, 1,154 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 253 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $794 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,176 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — 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: 1.03% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.34%
• DSCR: 1.37
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $128,544
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
204 Elizabeth St	0.04mi	2/1.0	654 (+5%)	0mo	$135,050	$206	90
1118 State St	0.11mi	2/1.0	640 (+3%)	21mo	$124,000	$194	73
1128 State Street St	0.12mi	2/1.0	651 (+4%)	23mo	$75,000	$115	68
840 Corporation St	0.37mi	2/1.0	576 (-8%)	22mo	$119,900	$208	52

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: -3.7%
• Equity multiple: 0.86×
• Total profit: $-4,415
• Equity at exit: $17,132

10-year hold

• IRR: 6.0%
• Equity multiple: 1.45×
• Total profit: $14,362
• Equity at exit: $9,934

Cash invested: $32,172 (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 37620

• Active inventory: 253
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,188 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$65 /mo · $779/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $223

Break-even live

Break-even rent $905

Max offer price $114,900

Occupancy floor 76%

Sensitivity live

Price	-10% $289	-5% $256	+0% $223	+5% $191	+10% $158
Rent	-10% $130	-5% $177	+0% $223	+5% $270	+10% $317
Rate	-1.0pp $281	-0.5pp $253	base $223	+0.5pp $194	+1.0pp $163

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
123 Lilly St Unit 1/2 Bristol, TN	1.0	1.0	480	$895	$1.86	14d	1	0.09mi
361 Heathland Dr Unit 365 Bristol, VA	1.0	1.0	550	$750	$1.36	44d	1	1.42mi

Listing history 12 events

1. 2026-06-19
   days on market $114,900 Active 15 DOM
2. 2026-06-18
   days on market $114,900 Active 14 DOM
3. 2026-06-17
   days on market $114,900 Active 13 DOM
4. 2026-06-16
   days on market $114,900 Active 12 DOM
5. 2026-06-15
   days on market $114,900 Active 11 DOM
6. 2026-06-14
   days on market $114,900 Active 9 DOM
7. 2026-06-13
   days on market $114,900 Active 8 DOM
8. 2026-06-10
   days on market $114,900 Active 6 DOM
9. 2026-06-09
   days on market $114,900 Active 5 DOM
10. 2026-06-08
    days on market $114,900 Active 4 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $114,900 Active 3 DOM

ⓘ 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: $779 · $65/mo
• Projected year-2 tax: $816 · $68/mo
• Expected delta: +$37/yr (+$3/mo · 4.7%)

ⓘ 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 4/10 Moderate 7 d/yr ≥98°F today · 20 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: $14,261
• − Mortgage interest: −$6,436
• − Property taxes: −$779
• − Insurance: −$574
• − Repairs & maintenance: −$1,141
• − Management: −$1,141
• − Depreciation: −$3,343
• Taxable income: $847
• Est. tax owed @ 24.0%: −$203
• After-tax cash flow: $2,479/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: Bristol
• NCES district ID: 4700360
• Math proficiency: 37% ▼ -7.00%
• Reading proficiency: 35% ▼ -8.00%
• Median HH income: $37,018
• Composite: 29.95/100
• National rank: #6376
• State rank: #29 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

• Census place: Bristol, TN
• County: Sullivan County · 121,987 people
• City population: 38,494
• Metro: Kingsport-Bristol, TN-VA
• Population (ZIP): 38,494
• Household income: $56,128
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 724.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 3% Black 2%
• Common ancestry: Serbian 3% Slovak 3% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -294.12%
• Current HPI: 263.38
• Rent YoY: —
• Metro: Kingsport-Bristol, TN-VA
• 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

1 event — show timeline

• 2026-06-05 Listed $114,900 TVRMLS

Property tax history

+8.4%/yr

Latest (2025): $779 · +32.7% YoY. Source: county tax records.