6854 Wildlife Cir

Johnson City, TN 37686

$354,900B-

3 bd · 2.0 ba · 1,630 sqft · Built 2020 · SingleFamily · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $8,246/mo
• Mortgage (P&I): −$1,861
• Tax + insurance: −$592
• HOA: −$21
• Vac / Maint / Mgmt: −$1,732
• Net cashflow: $4,041/mo
• Annual: $48,488/yr
• Cap rate: 19.96%
• Cash-on-cash: 48.79%
• DSCR: 3.17
• 1% rule: 2.32%
• Cash to close: $99,372

Investor read

• This is a 3-bed/2.0-bath single-family listed at $355k. Condition is rated good.
• At list price, monthly cash flow is $4k ($48k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $355k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#8 in TN, #3,349 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living 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: Mary Hughes School (math 27% / reading 22%, grade F, #546 of 952 statewide, top 61%, 339 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; 1 comparable units currently listed for rent nearby; 453 units permitted in Sullivan County in 2024 (6 in 5+ unit buildings).
• 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 $99k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 20.0% vs local median 3.1% in Johnson City — 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.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.