1324 Davis St · Morristown, TN 37814

$202,000

3 bd · 1.0 ba · 1,500 sqft · SingleFamily public records · 82 Days on market

Built 1950 8,712 sqft lot $135/sqft · 10% below area Est $225k · 10% under ↓ 10% since listing

---

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 +14.6/30.0
• ARV discount +12.0/15.0
• DSCR +4.4/10.0
• Livability +3.2/5.0
• 1% rule +2.9/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming home has been in the same family for over six decades and is now ready for its next forever family. Offering 1,500 square feet, this 3-bedroom, 2-bath home provides a versatile layout with multiple living spaces and plenty of potential to fit your lifestyle. Inside, you'll find two separate living areas, both with built-ins, giving you flexibility for relaxing, entertaining, or creating a space that works best for you. The second living area stands out with added functionality, featuring room for a dining area plus additional space that could be transformed into a kitchenette or wet bar, perfect for hosting gatherings or creating a secondary hangout area. With direct access to the back deck, it's a natural extension of your entertaining space. The primary bedroom offers direct access to the back deck through sliding glass doors, creating a quiet spot to step outside and unwind. The kitchen is well-equipped with generous cabinet space and storage, along with an electric range and refrigerator, making it ready for everyday use from day one. For added convenience, the washer and dryer convey and are located in a hallway laundry closet across from the second bathroom, keeping everything easily accessible within the home. Originally built in 1950 and expanded in the 1980s to double its size, the home combines established character with added living space. Beneath the carpet in the front living area and two front bedrooms are original hardwood floors, offering an opportunity to enhance the home's natural charm. Key updates include a heat pump approximately 1.5 years old, a 40-gallon water heater around 2 years old, and an electrical panel replaced in 2016, giving buyers added peace of mind. Situated on a 0.20-acre lot, the property features a spacious yard with room to play, garden, or enjoy the outdoors, along with a covered front porch that adds to the home's welcoming feel. If you're looking for a home with space, flexibility, and the chance to make it your own, this one is worth a look. All information deemed reliable but not guaranteed. Buyer/Buyer Agent to verify.

Key facts

• 8,712 sq ft lot
• Built 1950
• Listed 81 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $202k.

Deal economics

• At list price, monthly cash flow is $47 ($563/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 $159k (21.4% below list).
• Recommended offer: $159k (21.4% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: West Elementary (math 32% / reading 27%, grade F, #423 of 952 statewide, top 48%, 432 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: 333 active listings in the ZIP; 298 units permitted in Hamblen County in 2024 (48 in 5+ unit buildings).
• This rent runs 34% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($190k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,678 (21.4% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.79% ✗
• Cap rate: 6.57%
• Cash-on-cash: 0.99%
• DSCR: 1.04
• GRM: 10.6

CMA / ARV

• ARV (median comp): $224,632
• List price: $202,000
• Delta: -10.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1036 N Henry St	0.41mi	3/1.0	1,452 (-3%)	1mo	$240,000	$165	74
1509 Goodson Ave	0.27mi	3/1.5	1,331 (-11%)	1mo	$156,750	$118	66
340 Gilbert St	0.60mi	3/1.0	1,474 (-2%)	10mo	$235,000	$159	60
215 Morton St	0.55mi	3/1.0	1,548 (+3%)	13mo	$115,000	$74	58
522 Katerina Dr	0.59mi	3/2.0	1,485 (-1%)	12mo	$380,000	$256	56
544 Callaway Dr	0.38mi	3/2.0	1,464 (-2%)	22mo	$235,000	$161	56
348 Lochmere Dr	0.69mi	3/2.0	1,538 (+2%)	13mo	$315,000	$205	49
1624 Shields Dr Dr	0.36mi	3/2.0	1,294 (-14%)	21mo	$237,500	$184	39

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: -14.8%
• Equity multiple: 0.47×
• Total profit: $-29,839
• Equity at exit: $30,119

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-22,514
• Equity at exit: $17,465

Cash invested: $56,560 (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 37814

• Home prices YoY: -17.1%
• Active inventory: 333
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,587 medium
• Mortgage (P&I): −$1,059
• Tax from tax record: −$63 /mo · $758/yr
• Insurance: −$84
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $47

Break-even live

Break-even rent $1,527

Max offer price $202,000

Occupancy floor 92%

Sensitivity live

Price	-10% $161	-5% $104	+0% $47	+5% $-10	+10% $-67
Rent	-10% $-78	-5% $-16	+0% $47	+5% $110	+10% $172
Rate	-1.0pp $149	-0.5pp $98	base $47	+0.5pp $-5	+1.0pp $-59

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: $50,500
• Closing costs: $6,060
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-22
   days on market $202,000 Active 82 DOM
2. 2026-06-21
   days on market $202,000 Active 81 DOM
3. 2026-06-19
   days on market $202,000 Active 79 DOM
4. 2026-06-18
   days on market $202,000 Active 78 DOM
5. 2026-06-17
   days on market $202,000 Active 77 DOM
6. 2026-06-16
   days on market $202,000 Active 76 DOM
7. 2026-06-15
   days on market $202,000 Active 75 DOM
8. 2026-06-14
   days on market $202,000 Active 73 DOM
9. 2026-06-12
   days on market $202,000 Active 72 DOM
10. 2026-06-09
    days on market $202,000 Active 69 DOM
11. 2026-06-08
    days on market $202,000 Active 68 DOM
12. 2026-06-07
    days on market $202,000 Active 67 DOM
13. 2026-06-05
    days on market $202,000 Active 64 DOM
14. 2026-06-02
    days on market $202,000 Active 62 DOM
15. 2026-06-01
    days on market $202,000 Active 61 DOM
16. 2026-05-31
    days on market $202,000 Active 60 DOM
17. 2026-05-30
    days on market $202,000 Active 59 DOM
18. 2026-05-05
    price $206,000 2115-char remark

    Show marketing remark (2115 chars)

    This charming home has been in the same family for over six decades and is now ready for its next forever family. Offering 1,500 square feet, this 3-bedroom, 2-bath home provides a versatile layout with multiple living spaces and plenty of potential to fit your lifestyle. Inside, you'll find two separate living areas, both with built-ins, giving you flexibility for relaxing, entertaining, or creating a space that works best for you. The second living area stands out with added functionality, featuring room for a dining area plus additional space that could be transformed into a kitchenette or wet bar, perfect for hosting gatherings or creating a secondary hangout area. With direct access to the back deck, it's a natural extension of your entertaining space. The primary bedroom offers direct access to the back deck through sliding glass doors, creating a quiet spot to step outside and unwind. The kitchen is well-equipped with generous cabinet space and storage, along with an electric range and refrigerator, making it ready for everyday use from day one. For added convenience, the washer and dryer convey and are located in a hallway laundry closet across from the second bathroom, keeping everything easily accessible within the home. Originally built in 1950 and expanded in the 1980s to double its size, the home combines established character with added living space. Beneath the carpet in the front living area and two front bedrooms are original hardwood floors, offering an opportunity to enhance the home's natural charm. Key updates include a heat pump approximately 1.5 years old, a 40-gallon water heater around 2 years old, and an electrical panel replaced in 2016, giving buyers added peace of mind. Situated on a 0.20-acre lot, the property features a spacious yard with room to play, garden, or enjoy the outdoors, along with a covered front porch that adds to the home's welcoming feel. If you're looking for a home with space, flexibility, and the chance to make it your own, this one is worth a look. All information deemed reliable but not guaranteed. Buyer/Buyer Agent to verify.

19. 2026-04-01
    listed $210,000 Active 2115-char remark

    Show marketing remark (2115 chars)

    This charming home has been in the same family for over six decades and is now ready for its next forever family. Offering 1,500 square feet, this 3-bedroom, 2-bath home provides a versatile layout with multiple living spaces and plenty of potential to fit your lifestyle. Inside, you'll find two separate living areas, both with built-ins, giving you flexibility for relaxing, entertaining, or creating a space that works best for you. The second living area stands out with added functionality, featuring room for a dining area plus additional space that could be transformed into a kitchenette or wet bar, perfect for hosting gatherings or creating a secondary hangout area. With direct access to the back deck, it's a natural extension of your entertaining space. The primary bedroom offers direct access to the back deck through sliding glass doors, creating a quiet spot to step outside and unwind. The kitchen is well-equipped with generous cabinet space and storage, along with an electric range and refrigerator, making it ready for everyday use from day one. For added convenience, the washer and dryer convey and are located in a hallway laundry closet across from the second bathroom, keeping everything easily accessible within the home. Originally built in 1950 and expanded in the 1980s to double its size, the home combines established character with added living space. Beneath the carpet in the front living area and two front bedrooms are original hardwood floors, offering an opportunity to enhance the home's natural charm. Key updates include a heat pump approximately 1.5 years old, a 40-gallon water heater around 2 years old, and an electrical panel replaced in 2016, giving buyers added peace of mind. Situated on a 0.20-acre lot, the property features a spacious yard with room to play, garden, or enjoy the outdoors, along with a covered front porch that adds to the home's welcoming feel. If you're looking for a home with space, flexibility, and the chance to make it your own, this one is worth a look. All information deemed reliable but not guaranteed. Buyer/Buyer Agent to verify.

20. 2025-09-18
    price $219,900
21. 2025-09-09
    price $229,400
22. 2025-08-18
    listed $229,900 Active

ⓘ 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: $758 · $63/mo
• Projected year-2 tax: $1,434 · $120/mo
• Expected delta: +$676/yr (+$56/mo · 89.1%)

ⓘ 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 5/10 Major 7 d/yr ≥101°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,041
• − Mortgage interest: −$11,315
• − Property taxes: −$758
• − Insurance: −$1,010
• − Repairs & maintenance: −$1,523
• − Management: −$1,523
• − Depreciation: −$5,876
• Taxable loss: −$2,965
• Est. tax savings @ 24.0%: +$712
• After-tax cash flow: $1,274/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

• Census place: Morristown, TN
• County: Hamblen County · 35,239 people
• City population: 35,239
• Metro: Morristown, TN
• Population (ZIP): 35,239
• Household income: $55,650
• Rent vs Own: 33.5% rent · 66.5% own
• Severe rent burden: 1001.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 16% Two or more races 12% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 2%
• Common ancestry: Slovak 3% Lithuanian 2% Serbian 2%
• Foreign-born: 8% · Canada
• Languages at home: 85% English-only · Spanish 13% 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: ▼ -61.88%
• Current HPI: 299.6486
• Rent YoY: —
• Metro: Morristown, TN
• 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

-10.4% since first listed

5 events — show timeline

• 2026-05-05 Price Changed $206,000 TVRMLS
• 2026-04-01 Listed $210,000 TVRMLS
• 2025-09-18 Price Changed $219,900 LAAR
• 2025-09-09 Price Changed $229,400 LAAR
• 2025-08-18 Listed $229,900 LAAR

Property tax history

+4.6%/yr

Latest (2025): $758 · +44.1% YoY. Source: county tax records.